Satellite Bus Market
Satellite Bus Market Forecasts to 2030 - Global Analysis By Type (Small Satellites,Medium Satellites, Large Satellites and Heavy Satellites), Bus Type, Orbit Type, Application, End User and By Geography
According to Stratistics MRC, the Global Satellite Bus Market is accounted for $39.15 billion in 2024 and is expected to reach $68.23 billion by 2030 growing at a CAGR of 9.7% during the forecast period. In the aerospace business, the satellite bus market refers to the sector that focuses on the development, production, and integration of satellite bus systems, which form the framework for satellites. The key elements required for the satellite's operation, such as propulsion, power systems, communication systems, and thermal management, are all included in a satellite bus. The increasing need for satellite services as well as developments in space technology and exploration are driving this industry, which supports a range of applications such as telecommunications, earth observation, and scientific research.
According to its recent market study on Satellite Manufacturing, it has been estimated to launch more than 10,000 small satellites by 2026 into the Low Earth Orbit (LEO). According to the draft budget of Japan, the space budget of the country was over USD 1.4 billion, which includes the development of the H3 rocket, Engineering Test Satellite-9, and the nation’s Information Gathering Satellite (IGS) program.
Market Dynamics:
Driver:
Growing demand for satellite-based services
Satellite buses are becoming increasingly prevalent due to the increased need for satellite-based services. The growing dependence on satellite communications for a number of purposes, such as mobile communications, television broadcasting, broadband internet access, and navigation, is the main cause of this increase. The demand for satellite buses is also being driven up by the increasing need for satellite-based earth observation for agriculture, disaster relief, and environmental monitoring. Additionally, the growing use of satellite technology in the aerospace and defense industries are driving the growth of the satellite bus market.
Restraint:
Long development cycles
Extended development cycles have a detrimental effect on the satellite bus industry because they postpone the launch of crucial satellite missions, which might make it more difficult to respond quickly to changing market and technology demands. Longer timetables put more strain on budgets by raising project costs, particularly for commercial operators trying to stay competitive. Furthermore, extended development of emerging technologies may result in obsolescence before to implementation, impacting functionality. The overall expansion of the satellite bus market may be slowed by this delay in adopting new innovations.
Opportunity:
Rising need for earth observation and climate monitoring
As governments, research institutions, and the corporate sector depend more and more on satellite data for environmental management, the market for satellite buses is expanding due to the growing need for earth observation and climate monitoring. These satellites help efforts for resilience and sustainable development by offering vital insights into resource management, and climate change. Precise, real-time data collection is made possible by sophisticated satellite bus systems, which increases the need for sturdy platforms that can accommodate specialized sensors and guarantee dependable operation in the challenging environment of space.
Threat:
Reliability and technical limitations
As satellite buses must function flawlessly for lengthy periods of time in the harsh space settings, reliability and technical limits present substantial obstacles in the industry. Complex materials and design are needed to ensure longevity and dependability, which drives up development costs. A satellite's operating lifespan and mission capabilities may be constrained by technical issues including limited power capacity. Furthermore, system breakdowns or malfunctions carry a significant financial risk, which deters investors and slows the rate of innovation and market growth.
Covid-19 Impact
The COVID-19 pandemic caused supply chain disruptions and project timeline delays, which had a significant effect on the satellite bus market. Despite the large initial setbacks, the business proved resilient as the demand for satellite services increased due to rising investments in communication and space exploration technology. Businesses adjusted by improving their operational effectiveness and emphasizing modular designs, which made it possible to respond to shifting needs more quickly. Further development and recovery in the satellite bus industry are anticipated to be aided by this flexibility.
The small satellites segment is expected to be the largest during the forecast period
The small satellites segment is estimated to be the largest, due to the tiny satellite segment's affordability, ease of deployment, and industry adaptability. These small satellites are perfect for low-cost missions in IoT, telecommunications, and earth observation because they enable quicker development and launch cycles. Adoption is further accelerated by the growth of commercial space endeavours and the need for low-Earth orbit (LEO) constellations. Furthermore, excellent functionality within small satellites is made possible by improvements in miniaturized technology.
The government segment is expected to have the highest CAGR during the forecast period
The government segment is anticipated to witness the highest CAGR during the forecast period. The demand for dependable satellite buses is fuelled by government initiatives, including investments in scientific research, communication infrastructure, and national security. There is a constant demand for satellites because governments finance and promote their development for defense, weather monitoring, disaster relief, and climate observation. Government initiatives supporting satellite launches and space exploration also support market growth.
Region with largest share:
Asia Pacific is expected to have the largest market share during the forecast period. Satellite communication technologies are becoming more and more popular due to the increasing need for broadband internet connectivity, particularly in rural and isolated locations. Furthermore, the need for satellite-based earth observation systems is being driven by the growing emphasis on environmental monitoring and sustainable development. The Asia-Pacific market is expanding as a result of these elements, as well as the region's benevolent laws and developing technological capabilities.
Region with highest CAGR:
North America is projected to witness the highest CAGR over the forecast period. The market for satellite buses is expanding as a result of the growing dependence on satellite communications for a number of purposes, such as television transmission, mobile communications, and broadband internet access. Furthermore, the need for satellite-based earth observation systems is rising as environmental monitoring and catastrophe management get more attention. These elements, along with the region's strong legal system and encouraging laws, are propelling the expansion of the North American satellite bus business.
Key players in the market
Some of the key players profiled in the Satellite Bus Market include Lockheed Martin, Boeing, Airbus Defence and Space, Northrop Grumman, Thales Alenia Space, Honeywell Aerospace, Raytheon Technologies, Indian Space Research Organisation (ISRO), NASA, Hughes Network Systems, Swarm Technologies, Maxar Technologies, Inmarsat, China Aerospace Science and Technology Corporation (CASC), and Planet Labs.
Key Developments:
In October 2023, Northrop Grumman and Airbus have signed a Memorandum of Understanding (MOU) to jointly address the United Kingdom Ministry of Defence's (MOD) military satellite communication system requirements for the SKYNET Enduring Capability (SKEC) program.
In August 2023, ISRO transferred the IMS-1 Satellite Bus Technology to Alpha Design Technologies Pvt. Ltd. (ADTL), marking a significant advancement in private sector involvement in India's space industry. This transfer was facilitated by NewSpace India Limited (NSIL) through an agreement
Types Covered:
• Small Satellites
• Medium Satellites
• Large Satellites
• Heavy Satellites
Bus Types Covered:
• Platform Bus
• Custom Bus
• Small Satellite Bus
Orbit Types Covered:
• Low Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• Geostationary Orbit (GEO)
Applications Covered:
• Communications
• Earth Observation
• Navigation
• Scientific Research
• Other Applications
End Users Covered:
• Government
• Commercial
• Academic/Research Institutions
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Satellite Bus Market, By Type
5.1 Introduction
5.2 Small Satellites
5.3 Medium Satellites
5.4 Large Satellites
5.5 Heavy Satellites
6 Global Satellite Bus Market, By Bus Type
6.1 Introduction
6.2 Platform Bus
6.3 Custom Bus
6.4 Small Satellite Bus
7 Global Satellite Bus Market, By Orbit Type
7.1 Introduction
7.2 Low Earth Orbit (LEO)
7.3 Medium Earth Orbit (MEO)
7.4 Geostationary Orbit (GEO)
8 Global Satellite Bus Market, By Application
8.1 Introduction
8.2 Communications
8.3 Earth Observation
8.4 Navigation
8.5 Scientific Research
8.6 Other Applications
9 Global Satellite Bus Market, By End User
9.1 Introduction
9.2 Government
9.3 Commercial
9.4 Academic/Research Institutions
9.5 Other End Users
10 Global Satellite Bus Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Lockheed Martin
12.2 Boeing
12.3 Airbus Defence and Space
12.4 Northrop Grumman
12.5 Thales Alenia Space
12.6 Honeywell Aerospace
12.7 Raytheon Technologies
12.8 Indian Space Research Organisation (ISRO)
12.9 NASA
12.10 Hughes Network Systems
12.11 Swarm Technologies
12.12 Maxar Technologies
12.13 Inmarsat
12.14 China Aerospace Science and Technology Corporation (CASC)
12.15 Planet Labs
List of Tables
1 Global Satellite Bus Market Outlook, By Region (2022-2030) ($MN)
2 Global Satellite Bus Market Outlook, By Type (2022-2030) ($MN)
3 Global Satellite Bus Market Outlook, By Small Satellites (2022-2030) ($MN)
4 Global Satellite Bus Market Outlook, By Medium Satellites (2022-2030) ($MN)
5 Global Satellite Bus Market Outlook, By Large Satellites (2022-2030) ($MN)
6 Global Satellite Bus Market Outlook, By Heavy Satellites (2022-2030) ($MN)
7 Global Satellite Bus Market Outlook, By Bus Type (2022-2030) ($MN)
8 Global Satellite Bus Market Outlook, By Platform Bus (2022-2030) ($MN)
9 Global Satellite Bus Market Outlook, By Custom Bus (2022-2030) ($MN)
10 Global Satellite Bus Market Outlook, By Small Satellite Bus (2022-2030) ($MN)
11 Global Satellite Bus Market Outlook, By Orbit Type (2022-2030) ($MN)
12 Global Satellite Bus Market Outlook, By Low Earth Orbit (LEO) (2022-2030) ($MN)
13 Global Satellite Bus Market Outlook, By Medium Earth Orbit (MEO) (2022-2030) ($MN)
14 Global Satellite Bus Market Outlook, By Geostationary Orbit (GEO) (2022-2030) ($MN)
15 Global Satellite Bus Market Outlook, By Application (2022-2030) ($MN)
16 Global Satellite Bus Market Outlook, By Communications (2022-2030) ($MN)
17 Global Satellite Bus Market Outlook, By Earth Observation (2022-2030) ($MN)
18 Global Satellite Bus Market Outlook, By Navigation (2022-2030) ($MN)
19 Global Satellite Bus Market Outlook, By Scientific Research (2022-2030) ($MN)
20 Global Satellite Bus Market Outlook, By Other Applications (2022-2030) ($MN)
21 Global Satellite Bus Market Outlook, By End User (2022-2030) ($MN)
22 Global Satellite Bus Market Outlook, By Government (2022-2030) ($MN)
23 Global Satellite Bus Market Outlook, By Commercial (2022-2030) ($MN)
24 Global Satellite Bus Market Outlook, By Academic/Research Institutions (2022-2030) ($MN)
25 Global Satellite Bus Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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