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) — Forecast till 2027
Market Forecast
The global satellite bus market is projected to register a CAGR of 5.80% between 2021 and 2027. A satellite bus, also referred to as the body of a satellite, comprises essential satellite components and other necessary scientific equipment. Satellite buses play a crucial role as they enable the safe placement of satellite equipment into space.
The increasing deployment of small satellites and increasing demand for Earth observation imagery and analytics are primarily driving the market's growth. Additionally, a rise in demand for space data is contributing to the growth of the market. There are no limits to the range and scope of services that satellites can render. There is an ever-growing demand for satellite-provided services such as surveillance for military, environmental, or public safety applications, navigation and positioning, vehicle tracking, and telecommunication. The telecommunications industry, which has been using space for its services for many years and is a critical part of the global infrastructure for communications and commercial and government data transmission and applications, is expected to have the highest demand.
Furthermore, the demand for Earth observation (EO) data is growing for various applications, including environmental and scientific analysis and metrology. Moreover, increasing concern for security for border control, terrorism, and immigrants has also led to high demand for space data to ensure safety in military operations. Therefore, increasing demand for space data is expected to drive demand for low-cost satellites, thereby driving the growth of the satellite bus market.
Market USP
Increasing demand for satellites for communication, monitoring, and safety applications
Segmental Analysis
By Satellite Type
The large satellite segment accounted for the largest market share in 2020: The large satellite segment held the largest market share in 2020. Much of this can be attributed to their growing demand for several applications, including communication, navigation, mapping, and security.
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By Subsystem
The electric power system (EPS) segment is expected to witness the highest growth in the market: The electric power system (EPS) segment is expected to grow at a steady growth rate during the forecast period and is expected to dominate the market during the review period. Much of this can be attributed to the electric power system's crucial functions, including supply, transfer & utilization of electric power, and collection of routine information from various systems and sensors installed in the satellites.
The thermal control segment generated significant revenues in 2020: The thermal control segment accounted for significant revenues in 2020. Thermal control systems are crucial for the physical integrity and optimum & efficient operation of several components & systems of satellites. The thermal control systems include several active and passive components to maintain optimum temperature throughout the satellite efficiently.
The attitude control segment accounted for a considerable market share in 2020: The attitude control segment held a significant market share in 2020. An attitude control system is essential for the orientation maintenance and stabilization of satellites. Moreover, owing to the increasing adoption of small satellites, including micro and nano-satellites, the companies have been constantly investing in the technological development of attitude control systems, thereby driving their demand in the global satellite bus market.
The flight software segment is forecasted to grow at the highest rate: The flight software segment is likely to witness the highest growth rate in the coming years during the forecast period. Much of this can be ascribed to the growing demand for enhanced processing capabilities and improved onboard activities controls.
The satellites are becoming increasingly software-dependent. Flight software runs on a processor embedded in the electrical systems of the satellite. It is responsible for controlling onboard activities, data processing, and maintaining satellite health and safety. It has instructions for the satellite to perform all operations necessary for the mission. The flight software must operate in a real-time environment. Owing to the increase in processing capability with command & data handling (C&DH) and other processors, more capabilities have been enabled with flight software.
The telemetry tracking and command (TT&C) segment is forecasted to grow at a significant rate: The telemetry tracking and command (TT&C) segment is expected to register a considerable growth rate in the coming years during the forecast period. The growth of the segment in the market is propelled by their growing demand for various applications, such as monitoring of the health and status of the satellite through the collection, processing, and transmission of data from the various satellite subsystems, the determination of the satellite's exact location through the reception, processing, and transmission of ranging signals, and the proper control of satellite through the reception, processing, and implementation of commands transmitted from the ground.
Key Players Operating in the Global Satellite Bus Market:
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)
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Global Satellite Bus Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 – DecisionDatabases.comThe comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
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The latest trending report Global Satellite Bus Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Satellite Bus market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 3.2% in the forecast period of 2020 to 2025 and will expected to reach USD 10610 million by 2025, from USD 9343.1 million in 2019.The Satellite Bus market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/46332-satellite-bus-industry-analysis-reportThe major players covered in Satellite Bus are: Northrop Grumman Honeywell Airbus Lockheed Martin Boeing Thales Alenia Space Ball Israel Aerospace China Academy of Space Technology Mitsubishi MDA Sierra NevadaBy Type, Satellite Bus market has been segmented into Small Satellite (1-500kg) Medium Satellite (501-2,500kg) Large Satellite (Above 2,500kg)By Application, Satellite Bus has been segmented into: Earth Observation & Meteorology Communication Scientific Research & Exploration Surveillance & Security Mapping & Navigation NavigationThe report offers in-depth assessment of the growth and other aspects of the Satellite Bus market in important countries (regions), including: North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) South America (Brazil, Argentina, etc.
) Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Satellite Bus Market @ https://www.decisiondatabases.com/contact/download-sample-46332The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Satellite Bus product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Satellite Bus, with price, sales, revenue and global market share of Satellite Bus in 2018 and 2019.Chapter 3, the Satellite Bus competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Satellite Bus breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Satellite Bus market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Satellite Bus sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Satellite Bus Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-46332Other Reports by DecisionDatabases.com:Global Satellite Transponder Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Satellite Dish Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024Global Satellite-enabled IoT Market 2019 by Company, Regions, Type and Application, Forecast to 2024About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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