Satellite Bus Market Report by Subsystem (Structures and Mechanisms, Thermal Control, Electric Power System, Attitude Control System, Propulsion, Telemetry Tracking Command, Flight Software), Satellite Size (Small, Medium, Large), Application (Earth Observation and Meteorology, Communication, Scientific Research and Exploration, Surveillance and Security, Mapping, Navigation), and Region 2024-2032
The global satellite busmarket size reached US$ 14.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 14.7 Billion
Market Forecast in 2032
US$ 23.3 Billion
Market Growth Rate (2024-2032)
5.2%
A satellite bus, also known as a spacecraft bus, refers to the structural body and primary system of a satellite comprising power, temperature control, and directional thrusters. It also consists of a life support subsystem for human-crewed missions. It provides control of the satellite and support services to the mission payload. At present, there is a considerable rise in the use of satellites for navigation, communication, and climate and environment monitoring, which is positively influencing the requirement for satellite buses across the globe.
Satellite Bus Market Trends:
Increasing investments in space programs by governments of numerous countries around the world currently represents one of the key factors bolstering the growth of the market. Moreover, satellites can detect underground water and mineral sources, monitor the transfer of nutrients and contaminants from land into waterways, and measure land and water temperatures, the growth of algae in seas, and the erosion of topsoil from land. They can also efficiently track large-scale infrastructures like fuel pipelines that need to be checked for leaks, which would require enormous hours of land- or air-based inspection. Besides this, satellites allow meteorologists to monitor the weather globally, enabling them to follow the effects of phenomena like volcanic eruptions. This is creating a positive outlook for the market. Nowadays, satellite buses can accommodate reconfigurable payloads, smart power systems, and onboard propulsion technologies, which is also impelling the market growth. Furthermore, satellite launch costs are reducing on account of improvements in reusable rockets and the rising utilization of flexible launch sites. This, coupled with the increasing number of satellites launches worldwide, is anticipated to facilitate the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global satellite busmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on subsystem, satellite size and application.
Breakup by Subsystem:
Structures and Mechanisms
Thermal Control
Electric Power System
Attitude Control System
Propulsion
Telemetry Tracking Command
Flight Software
Breakup by Satellite Size:
Small
Medium
Large
Breakup by Application:
Earth Observation and Meteorology
Communication
Scientific Research and Exploration
Surveillance and Security
Mapping
Navigation
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Airbus SE, Ball Corporation, Centum Electronics Limited, Honeywell International Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Maxar Technologies Inc., NanoAvionics Corp. (AST SpaceMobile Inc), NEC Corporation (AT&T Corporation), Northrop Grumman Corporation, Sierra Nevada Corporation, Thales Group and The Boeing Company.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Subsystem, Satellite Size, Application, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Airbus SE, Ball Corporation, Centum Electronics Limited, Honeywell International Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Maxar Technologies Inc., NanoAvionics Corp. (AST SpaceMobile Inc), NEC Corporation (AT&T Corporation), Northrop Grumman Corporation, Sierra Nevada Corporation, Thales Group and The Boeing Company.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global satellite bus market was valued at US$ 14.7 Billion in 2023.
We expect the global satellite bus market to exhibit a CAGR of 5.2% during 2024-2032.
The rising investments in space programs, along with the increasing adoption of satellites for navigation, communication, and climate and environment monitoring, are primarily driving the global satellite bus market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the decline of various satellite launches, thereby negatively impacting the global market for satellite bus.
Based on the subsystem, the global satellite bus market can be bifurcated into structures and mechanisms, thermal control, electric power system, attitude control system, propulsion, telemetry tracking command, and flight software. Currently, structures and mechanisms hold the majority of the total market share.
Based on the satellite size, the global satellite bus market has been segmented into small, medium, and large. Among these, large currently exhibits a clear dominance in the market.
Based on the application, the global satellite bus market can be divided into earth observation and meteorology, communication, scientific research and exploration, surveillance and security, mapping, and navigation. Currently, earth observation and meteorology accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global satellite bus market include Airbus SE, Ball Corporation, Centum Electronics Limited, Honeywell International Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Maxar Technologies Inc., NanoAvionics Corp. (AST SpaceMobile Inc), NEC Corporation (AT&T Corporation), Northrop Grumman Corporation, Sierra Nevada Corporation, Thales Group, and The Boeing Company.
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