Satellite Bus Market Analysis | 2023-2028

Market Insights

"The global satellite bus market is estimated to grow from USD 11.14 billion in 2022 to USD 15.67 billion by 2028 at a CAGR of 5.80% during the forecast period."

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The core platform or framework of a satellite that offers the essential infrastructure and functionality to accomplish its mission goals is referred to as a satellite bus. Consider it the satellite's "backbone" or chassis. The payload is referred to as the instruments or equipment that carry out the planned mission duties, whereas the satellite bus often houses a variety of subsystems and components required for the satellite's operation.

Power generation and distribution, heat management, attitude and orbit control, communication and data handling, command and control, and other essential tasks are all carried out by the satellite bus.

Depending on the demands of the individual mission, satellite buses are frequently made to be adaptable and modular, enabling modification and integration of different payloads and equipment. Satellite producers can expedite the development process and reuse the bus design for several missions by separating the bus from the payload, increasing the cost-effectiveness and efficiency of satellite production.

Some of the factors driving the market of satellite buses are the increasing requirement of affordability as well as the performance of satellite systems, technological enhancements that have been made to shrink satellite size and hence enhance the payload capacity and future needs for more flexible and adaptive operation of satellites. Besides, the growth of commercial communication, earth observation, and navigation satellite services as well as the prominence of constellations to provide services globally are also factors that boost the market growth.

Segment Analysis

Satellite Size Insights

"The large size segment accounted for the largest market share."

The market is segmented into small, medium, and large sizes. Large size currently dominates the market with the highest share in 2022 and is expected to maintain its dominance during the forecast period, driven by a host of factors including the presence of a large number of satellite buses and solar cells in order to allow a large number of functions including greater solar production and processing capacity

It is also expected that the small-size segment is likely to witness the highest growth during the forecast period. The demand for small satellites is growing due to sharply reduced launch costs from commercial space companies as well as increased demand for small satellites from earth observation to communications to networking applications

Furthermore, the low cost and short development time in the integration of small satellites is other factors substantiating the growth of the segment in the market.

Application Insights

"The earth observation and meteorology segment accounted for the largest market share."

The market is segmented into earth observation and meteorology, communication, scientific research & exploration, surveillance & security, and mapping & navigation. The earth observation and meteorology segment held the largest market share in 2022 & is expected to grow at the highest rate during the forecast period

Owing to their capability to monitor situations, such as cyclones, storms, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and other such calamities. There has been a high focus on the development of small satellites targeting key areas including earth observation, communications, and networking.

Subsystem Insights

"The electrical power system segment accounted for the largest market share."

The market is segmented into structures & mechanisms, thermal control, electric power systems, attitude control systems, propulsion, telemetry tracking & command (tt&c), and flight software. The electrical power system segment dominated the market in 2022 & is projected to grow at the highest CAGR during the forecast period.

The electric power system plays a vital role in the generation, storage, conditioning control, and distribution of power within the satellites. The electric power system helps in managing the power input of solar cells, charging onboard batteries, and distributing the electric power, to all other subsystems of the satellite at the required voltage.

Regional Trends

"North America accounted for the largest market share."

North America dominated the market with a significant share in 2022, driven by the presence of major spacecraft OEMs and tier players. The USA is the growth engine of the region’s market as the country has the highest space budget in the world, which is almost six times the country with the second-highest space budget.

Also, NASA is the largest space agency in the world, which is largely involved in space-related activities located in the USA. Furthermore, major spacecraft OEMs, such as Orbital ATK, Lockheed Martin, and Honeywell International, have a presence in the USA.

Europe and Asia-Pacific are also likely to offer good growth opportunities during the forecast period. Europe will be driven by space investments by ESA and Russia.

Asia-Pacific is likely to be the fastest-growing market in the foreseen future, driven by a host of factors, including the emergence of India and China in the space sector, investments in small satellite projects, and an increased number of start-ups involved in space activities across the region.

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Key Players

The supply chain of this market comprises ram material suppliers, component manufacturers, satellite bus system providers, spacecraft OEMs, space agencies, and space research institutes.

The following are some of the key satellite bus manufacturers:

• Lockheed Martin Corporation
• Thales Alenia Space
• Airbus Group
• China Academy of Space Technology
• Israel Aerospace Industries Ltd
• The Boeing Company
• Honeywell International Inc.
• Mitsubishi Electric Corporation
• Ball Corporation
• Macdonald
• Dettwiler and Associates Ltd.
• Sierra Nevada Corporation.
• Orbital ATK, Inc.

Advancement in the technology and formation of a long-term relationship with OEMs are some of the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report, from Stratview Research, studies the satellite bus market over the trend period of 2012 to 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

What Deliverables Will You Get in This Report?

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented in the following ways:

By Subsystem Type:

• Structures & Mechanisms
• Thermal Control System
• Electric Power System
• Attitude Control System
• Propulsion
• Telemetry Tracking & Command
• Flight Software

By Satellite Size Type:

• Small (1-500 kg)
• Medium (501-2,000 kg)
• Large (>2,001 kg)

By Application Type:

• Earth Observation & Meteorology
• Communication
• Scientific Research & Exploration
• Surveillance & Security
• Mapping & Navigation

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.