Satellite Bus Market by Subsystem, Satellite Size, Application, and Region - Global Forecast to 2022
Posted: Mar 17, 2019
The report "Satellite Bus Market by Subsystem (Structures & Mechanisms, Thermal Control, Electric Power, Attitude Control, Propulsion, Telemetry Tracking and Command (TT&C), Flight Software), Satellite Size, Application, and Region - Global Forecast to 2022", The satellite bus market is estimated to grow from an estimated USD 10.21 Billion in 2017 to USD 13.64 Billion by 2022, at a CAGR of 5.97% during the forecast period.
The ecosystem of the satellite bus market comprises satellite bus and component manufacturers, suppliers, and technology support providers, such as Airbus Defense and Space SAS (France), Boeing (US), Thales Group (France), Lockheed Martin Corporation (US), and Mitsubishi Electric Corporation (Japan), among others. These companies offer advanced technology systems, products, and services. They also provide a broad range of management, engineering, technical, communications, and information service capabilities.
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- Component Providers
- Original Equipment Manufacturers
- Subsystem Manufacturers
- Technology Support Providers
- Ministries of Defense
- Scientific Research Centers
- Forums, Alliances, and Associations
- End Users
Based on satellite size, the small (1-500 kg) segment is expected to lead the satellite bus market during the forecast period
Based on satellite size, the small (1-500 kg) segment is estimated to lead the satellite bus market during the forecast period, as these satellites can be used for high precision and complex space missions such as remote sensing, navigation, maritime and transportation management, space & earth observation, disaster management, military intelligence, telecommunications, and other academic purposes.
The earth observation & meteorology application segment is estimated to lead the satellite bus market during the forecast period
Based on application, the earth observation & meteorology segment is projected to lead the satellite bus market during the forecast period due to the increasing use of satellites for scientific research purposes as well as for earth observation worldwide. The advanced design and manufacture of satellite buses for various satellite applications, such as communications, earth observation & meteorology, communication, scientific research & exploration, surveillance & security, and mapping & navigation are expected lead to an increase in the launch of satellites into orbits.
North America is estimated to account for the largest share of the satellite bus market in 2017
North America is estimated to lead the satellite bus market in 2017. There is an increasing interest in satellites due to the lowered cost of satellite launch vehicles, and an increase in the applicability of satellites in both, commercial and military sectors. Thus, the growing applicability of satellites is one of the most significant factors propelling the demand for satellite bus in North America. In addition, advances in propulsion technology and spacecraft design have contributed to the growth of the satellite bus market in North America.
Key Market Players
Airbus Group (Netherlands), The Boeing Company (US), China Academy of Space Technology (China), Honeywell International Inc. (US), Indian Space Research Organization (India), Israel Aerospace Industries Ltd (Israel), Lockheed Martin Corporation (US), MacDonald, Dettwiler and Associates Ltd. (Canada), Mitsubishi Electric Corporation (Japan), Orbital ATK, Inc. (US), and Thales Alenia Space (France), among others, are the major players in the satellite bus market.
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