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    Satellite Bus Market

    ID: MRFR/A&D/6621-CR
    174 Pages
    Swapnil Palwe
    December 2021

    Satellite Bus Market Research Report Information by Satellite Type (Small Satellite, Medium Satellite, and Large Satellite), Subsystem (Electric Power System (EPS), Thermal Control, Attitude Control System, Flight Software, and Telemetry Tracking and Command (TT&C), and Others), Application (Earth Observation and Meteorology, Scientific Research & Exploration, Mapping & Navigation, Communication, and Surveillance & Security), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America) — Forec...

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    Satellite Bus Market Infographic
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    Satellite Bus Market Summary

    The Global Satellite Bus Market is projected to grow from 7.04 USD Billion in 2024 to 12.4 USD Billion by 2035.

    Key Market Trends & Highlights

    Satellite Bus Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 5.27 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 12.4 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 7.04 USD Billion, reflecting a strong foundation for future expansion.
    • Growing adoption of satellite technology due to increased demand for communication services is a major market driver.

    Market Size & Forecast

    2024 Market Size 7.04 (USD Billion)
    2035 Market Size 12.4 (USD Billion)
    CAGR (2025-2035) 5.27%

    Major Players

    Airbus, SAS (Netherlands), Ball Corporation (US), Boeing (US), China Aerospace Science and Technology Corporation (China), Honeywell International Inc. (US), Israel Aerospace Industries (Israel), Lockheed Martin Corporation (US), Maxar Technologies Ltd. (US), Mitsubishi Electric Corporation (Japan), Northrop Grumman Corporation (US), Sierra Nevada Corporation (US), Thales Group (France)

    Satellite Bus Market Drivers

    Market Growth Projections

    The Global Satellite Bus Market Industry is poised for substantial growth, with projections indicating a market value of 12.4 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 5.27% from 2025 to 2035. The increasing demand for satellite services across various sectors, including telecommunications, defense, and environmental monitoring, is expected to drive this expansion. As technology continues to advance and new applications for satellite buses emerge, the market is likely to witness a diversification of offerings, catering to a broader range of customer needs and preferences.

    Emerging Commercial Space Sector

    The emergence of the commercial space sector is reshaping the Global Satellite Bus Market Industry. Private companies are increasingly entering the satellite manufacturing and launch markets, driven by advancements in technology and decreasing launch costs. This influx of private investment is fostering innovation and competition, leading to the development of new satellite bus designs and services. Companies like SpaceX and OneWeb are pioneering satellite constellations that aim to provide global internet coverage, which could significantly alter the landscape of satellite communications. As the commercial sector continues to grow, it is likely to create new opportunities and challenges for traditional satellite bus manufacturers.

    Advancements in Satellite Technology

    Technological advancements play a pivotal role in shaping the Global Satellite Bus Market Industry. Innovations such as miniaturization, improved propulsion systems, and enhanced payload capabilities are transforming satellite design and functionality. These advancements not only reduce costs but also increase the operational efficiency of satellites. For instance, the development of small satellite buses enables the deployment of constellations that enhance global coverage and data collection capabilities. As technology continues to evolve, it is likely that the market will see a diversification of satellite applications, further driving growth and expanding the scope of satellite missions.

    Government Investments in Space Programs

    Government investments in space programs significantly influence the Global Satellite Bus Market Industry. Countries worldwide are recognizing the strategic importance of space capabilities, leading to increased funding for satellite development and launch initiatives. For example, nations such as the United States, China, and India are actively expanding their satellite fleets to enhance national security, scientific research, and commercial opportunities. This trend is likely to bolster the market, as government contracts often provide a stable revenue stream for satellite bus manufacturers. The emphasis on international collaboration in space exploration may also create new opportunities for growth in the industry.

    Increasing Demand for Communication Satellites

    The Global Satellite Bus Market Industry experiences a surge in demand for communication satellites, driven by the growing need for reliable communication infrastructure across various sectors. As of 2024, the market is valued at approximately 7.04 USD Billion, reflecting the increasing reliance on satellite technology for telecommunications, broadcasting, and internet services. The proliferation of mobile devices and the expansion of internet connectivity in remote areas further fuel this demand. This trend is expected to continue, with projections indicating a market growth to 12.4 USD Billion by 2035, suggesting a robust CAGR of 5.27% from 2025 to 2035.

    Growing Demand for Earth Observation Satellites

    The Global Satellite Bus Market Industry is witnessing a growing demand for Earth observation satellites, driven by the need for environmental monitoring, disaster management, and agricultural planning. These satellites provide critical data that supports decision-making in various sectors, including climate science, urban planning, and resource management. The increasing awareness of climate change and the need for sustainable practices further amplify this demand. As the market evolves, it is expected that the integration of advanced sensors and imaging technologies will enhance the capabilities of Earth observation satellites, thereby expanding their applications and driving market growth.

    Key Companies in the Satellite Bus Market market include

    Industry Developments

    March 2021 Maxar Technologies Ltd. signed a contract with NASA to deliver the Solar Electric Propulsion (SEP) Chassis to NASA's Jet Propulsion Laboratory (JPL) for the NASA Discovery Mission, Psyche.

    February 2021 Thales Alenia Space signed an agreement with Telesat to be the prime contractor on the construction of Lightspeed, its advanced LEO network, a project initially comprised of a fleet of 298 satellites.

    December 2020 Lockheed Martin Corporation signed a contract with the U.S. Space Force worth USD 511 million for two GPS 3F satellites.

    December 2020 Thales Alenia Space signed a contract with the Italian Ministry of Defence and with the Italian Space Agency (ASI) to develop two additional satellites and upgrade the ground, logistic support, and operational segments to complete the COSMO-SkyMed Second Generation constellation (CSG).

    September 2021 Northrop Grumman Corporation signed a contract with US Space Force worth USD 298 million to develop a jam-resistant military satellite.

    Future Outlook

    Satellite Bus Market Future Outlook

    The Global Satellite Bus Market is projected to grow at a 5.27% CAGR from 2024 to 2035, driven by advancements in satellite technology and increasing demand for communication services.

    New opportunities lie in:

    • Develop modular satellite bus designs for rapid deployment in emerging markets.
    • Invest in sustainable materials for satellite construction to enhance environmental compliance.
    • Leverage AI for predictive maintenance and operational efficiency in satellite systems.

    By 2035, the market is expected to achieve substantial growth, reflecting evolving technological demands and increased global connectivity.

    Report Scope

    Report Attribute/Metric Details
      Market Size   $9.27 Billion
      CAGR   5.96% (2020–2030)
      Base Year    2020
      Forecast Period    2020–2030
      Historical Data    2019
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Satellite Type, Subsystem, and Application
      Geographies Covered   North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America
      Key Vendors   Airbus SAS, Ball Corporation, Boeing, China Aerospace Science and Technology Corporation, Honeywell International Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Maxar Technologies Ltd., Mitsubishi Electric Corporation, Northrop Grumman Corporation, Sierra Nevada Corporation, and Thales Group
      Key Market Opportunities   Increasing Government Investments in Space Technology
      Key Market Drivers   Increasing Deployment of Small Satellites Increase in Demand for Space Data Increasing Demand for Earth Observation Imagery and Analytics

    Market Highlights

    Author
    Swapnil Palwe
    Team Lead - Research

    With a technical background as Bachelor's in Mechanical Engineering, with MBA in Operations Management , Swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. He is the POC for our clients, for their consulting projects running under the Automotive/A&D domain. Swapnil has worked on major projects in verticals such as Aerospace & Defense, Automotive and many other domain projects. He has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.

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    FAQs

    What is the estimated growth rate of the Global Satellite Bus Market?

    Global satellite bus market 2024 is projected to register a moderate 5.96% CAGR by 2030

    Who are the significant players operative in the Global Satellite Bus Market?

    A few eminent market players operating in the global satellite bus market are Boeing (US), Honeywell International Inc. (US), Lockheed Martin Corporation (US), among others.

    Which satellite type is expected to witness the highest growth?

    The small satellite segment is expected to observe substantial demand over the review period.

    What is the application segment of the Global Satellite Bus Market expected to witness the highest growth?

    The communication segment is slated to expand as the fastest-growing segment.

    Satellite Bus Market Research Report—Global Forecast till 2030 Infographic
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