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2021

Satellite Bus Market

Satellite Bus Market Size, Share, Competitive Landscape and Trend Analysis Report by Subsystem, Application and Satellite Size : Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Abhay Singh | Lalit Janardhan Katare
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Satellite Bus Market Statistics 2021-2030:

The global satellite bus market was valued at $11.91 billion in 2020, and is projected to reach $20.84 billion by 2030, registering a CAGR of 5.8% from 2021 to 2030.        

Satellite bus is a structural body & primary system of a space vehicle, which carries all essential components used in a satellite. In addition, a satellite bus is a general model on which multiple-production satellite spacecrafts are based. The satellite bus is used as a transport mechanism for satellite payload wherein the necessary equipment of a satellite are placed. All satellite buses are similar in make-up, although each spacecraft is different in shape & size depending on the size of satellite. Moreover, it consists of several subsystems with a unique purpose, and its structural design places further requirements on it such as communication links, on-board data processing, battery capacity, and data memory. The architecture of the satellite bus supports all spacecraft hardware, including payload instruments, which are designed to be used in a space mission.

Global-Satellite-Bus-Market

Factors such as increased investments by governments & space agencies, increase in number of satellite launches and new product launches in the satellite manufacturing market & launch systems accelerate growth of the satellite bus market across the globe. However, lack of clarity in government policies and stringent government regulations for implementation & use of satellites are factors that hamper growth of the satellite bus market. Moreover, factors such as increase in incorporation of new technologies along with advancements in satellite mission technologies is expected to provide lucrative opportunities for growth of the market across the globe.

The global satellite bus market is segmented into subsystem, application, satellite size, and region. By subsystem, the market is segregated into structures & mechanisms, thermal control, electric power system, attitude control system, propulsion, telemetry tracking command, and flight software. By application, it is segregated into earth observation & meteorology, communication, scientific research & exploration, surveillance & security, mapping, and navigation. By satellite size, itis segregated into small, medium, and large. Region wise, the global satellite bus market has been studied across North America, Europe, Asia-Pacific and LAMEA. 

The key players operating across the global satellite bus market include Airbus S.A.S, Ball Corporation, Israel Aerospace Industries Ltd. (IAI), ISRO, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Northrop Grumman Corporation, Sierra Nevada Corporation, Thales Group, and The Boeing Corporation. 

Increase in investment by governments & space agencies

Increase in investments by governments & space agencies in the development of technologically advanced satellites is a crucial driver for growth of the market. Countries such as the U.S., China, India, and some European countries are allocating funds for research, development, testing, evaluation, procurement & operation, and maintenance of satellites & associated components, which eventually creates ample opportunities for growth of the satellite bus market across the globe. For instance, in 2020, the Department of Defense of the U.S. (DOD), National Security Space (NSS) of the U.S. allocated $14.1 billion in 2020 from which $8.4 billion, $2.6 billion, and $3.0 billion were allocated for research, development, testing, evaluation (RDT & E), production, and operation & maintenance. Such investments in the space sector by various governments is expected to drive the satellite manufacturing and launch systems market. 

Satellite Bus Market
By Subsystem
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Electric power system is projected as the most lucrative segments

Moreover, private companies such as SpaceX are collaborating with government space agencies such as NASA to design and develop reusable satellite launch vehicles & other components to minimize program cost. SpaceX has also built launch systems, which are highly effective and are in secured zone. In addition, European space agency has increased its focus on development of their launch systems, Ariane 5, which eventually increases demand for efficient satellite buses to be used in new satellite launch projects.

Increase in number of satellite launches

Satellites are being used extensively for numerous purposes such as establishing of communication network, surveillance, military applications & navigation, and TV broadcasting (D2H). Moreover, satellites are being used to tackle 21st century challenges such as climate change, resource management, and disaster mitigation. Hence, owing to such wide applications of satellites, countries across the globe have been frequently launching satellites. Moreover, presence of companies such as SpaceX, which has launched around 88 satellites in 2020 intended for use in communication and other applications creates ample opportunities for growth of the market across the globe. Thus, demand for satellite buses has been also increasing with rise in number of satellite launches, thereby driving growth of the global satellite bus market. 

Satellite Bus Market
By Application
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Earth Observation & meteorology is projected as the most lucrative segments

Lack of clarity in government policies

Government policies across nations affect evolution of satellite environment and industry, either directly or indirectly. There is currently no robust global or domestic on-orbit regulation regime in place. Across the U.S., strict regulations have been introduced to govern launch & re-entry of satellites into the spectrum and remote sensing. However, on-orbit activities, including rendezvous and proximity activities, space-based space situation awareness (SSA), or RF mapping, are not covered by regulations, which acts as a major factor hampering growth of the market across the globe.

In addition, more than 70 countries are involved in satellite operations, no consensus has been achieved and there are a few signs that a robust global regime would exist beyond high-level directives in the outer space treaty. While operators have expressed an interest in developing regulations that would provide investors with clarity, there are concerns about burdensome regulations that could force companies to relocate from one country to another. Given that the timelines of operators and policymakers do not always coincide, and considerable efforts involved in establishing international community agreements, designing policies and regulations for rapidly changing commercial space industry are expected to be a challenge for the next ten years.

Satellite Bus Market
By Satellite Size
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Small is projected as the most lucrative segments

Increase in incorporation of new technologies

Introduction of  several  technologies  in  the  market  and  their  incorporation  in  the  satellite  imaging  is expected  to  enhance  the  satellite  imagery  technology;  thereby,  providing  lucrative  opportunities  for  the market  growth.  Some of  the  newly  introduced  technologies  include  electric  propulsion  technology,  high- resolution cameras, advanced remote sensing technology, next generation GPS satellites, light detection and ranging  (LIDAR)  technology,  hyperspectral  sensors,  and  multispectral  sensors.  Apart from these, the most recently developed technologies such as aerospace digital signal processor and large-scale anti-radiation field programmable gate array are projected to make real-time image processing easy and overcome the limitation in satellite imaging. If the similar trend is attained in the future, satellite imagery is expected to be the preferred choice in almost all commercial applications, which is anticipated to provide massive opportunities for the market to grow. 

Furthermore, development in data transmission capabilities, improvement in  geospatial  processing,  and  scalable  cloud-based  platforms  are  expected  to  provide  new growth opportunities. In addition, AI-based platforms offer insights on previously inaccessible factors such as social, industrial, and economic processes. Further, machine learning (ML) algorithms are increasingly used to process daily satellite imagery to classify & detect objects, locate geographic & topographic features, and monitor minute changes over a span of time.  Moreover, ML and AI automated algorithms can accurately detect various things visible on earth from  the  space  such  as  cars  at  parking  lots,  crop  yield,  and  geo-sensing  in  agricultural  fields. Furthermore, amalgamation of cloud computing with satellite imagery enables researchers to access imagery data from remote locations. 

Satellite Bus Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 6.7% during 2021-2030.

Covid-19 Impact Analysis

  • COVID-19 pandemic has an impact on nearly every aspect of global economic activity and individuals.
  • With the surge of COVID-19, numerous countries across the globe have imposed restrictions & regulations on global trade which has affected the supply chain for different industries.
  • In addition, the pandemic has posed an existential danger to millions of businesses throughout the world, as well as an unemployment problem for billions of workers was created to due to the mandatorily imposed lockdown across the globe.
  • Moreover, important supply chains across the space manufacturing business have been affected as a result of the COVID-19 pandemic.
  • Numerous development to be carried out across space industries were also postponed due to the Covid-19 pandemic.
  • The satellite industry has been affected by the pandemic's spread and the resulting slowdown in the global economy, but the satellite bus market has been able to allay the pandemic's negative effects due to advancement in the increasing satellites missions over time.

Key Benefits For Stakeholders

  • This study presents the analytical depiction of the global satellite bus market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Satellite Bus Market Report Highlights

Aspects Details
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By SUBSYSTEM
  • Structures & mechanisms
  • Thermal control
  • Electric power system
  • Attitude control system
  • Propulsion
  • Telemetry tracking command
  • Flight software
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By APPLICATION
  • Earth observation & meteorology
  • Communication
  • Scientific research & exploration
  • Surveillance & security
  • Mapping
  • Navigation
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By SATELLITE SIZE
  • Small
  • Medium
  • Large
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By Region
  • North America  (US, Canada, Mexico)
  • Europe  (Germany, France, UK, Russia, rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

MITSUBISHI ELECTRIC CORPORATION., THE BOEING COMPANY, THALES GROUP, ISRAEL AEROSPACE INDUSTRIES LTD. (IAI), LOCKHEED MARTIN CORPORATION, NORTHROP GRUMMAN CORPORATION., SIERRA NEVADA CORPORATIO, AIRBUS S.A.S., ISRO, BALL CORPORATION

Analyst Review

Growth of the satellite bus market is driven by numerous developments carried out by top satellite bus manufacturers. In addition, companies operating in the industry have made numerous developments carried along with introducing new satellite bus models, which strengthened growth of the market across the globe.

Moreover, numerous developments have been carried out by key players operating in the satellite bus industry, which are expected to create remunerative opportunities for expansion of the market during the forecast period. For instance, in November 2021, Thales Group signed an agreement with the Government of Hungary concerning a cooperation to contribute for development of the space industry sector in Hungary. In addition, in October 2020, The Boeing Company has acquired a contract from the U.S. Space Force to manufacture satellite payload prototype & develop new satellite architecture for the U.S. Space Force’s Evolved Strategic SATCOM (ESS) Program.

By developing a small GEO satellite bus in October 2021, Shlomi Sudri, Vice President and General Manager of the space division at Israel Aerospace Industries (IAI), said that “the company is targeting smaller operators with specific needs for which a larger satellite would too big and expensive.” He also mentioned, “not all customers need the big GEO satellites than weight around five tons”. Moreover, Rick Ambrose, executive vice president of Lockheed Martin said that, “our investment in the LM 400 demonstrates our engineering excellence and is a result of our hybrid architecture approach to meet evolving & dynamic mission environments” and “the LM 400 provides an unmatched flexibility to fly any mission from LEO to GEO”.

Furthermore, Leanne Caret, CEO of Boeing Defence, Space & Security Division said that, “the aerospace giant is ‘very focused’ on growth, especially with expanding its satellite business.” Blake Bullock, vice president, Tactical Space Systems, Northrop Grumman mentioned “our unique ESPAStar platform provides proven solutions for customers seeking a modular, cost-effective, and highly capable spacecraft bus for hosting technology developments and operational payloads”.

Among the analyzed regions, North America is the highest revenue contributor, followed by Asia-Pacific, Europe, and LAMEA. On the basis of forecast analysis, Asia-Pacific is expected to maintain its lead during the forecast period, owing to the increased satellite launch activities being carried out across the region.

Author Name(s) : Abhay Singh | Lalit Janardhan Katare
Frequently Asked Questions?

The global satellite bus market was valued at $11,909.94 million in 2020, and is projected to grow at a CAGR of 5.8% from 2021 to 2030

Introduction of small satellites which are intended for numerous operations are the recent developments in satellite bus industry

The sample for satellite bus market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report

Introduction of light weight satellite bus which can carry numerous components creates opportunities for the growth of the market across the globe

Satellite bus are of three types based on size of satellites i.e. small, medium, large

The company profiles of the top market players of satellite bus market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the satellite bus market

Satellite bus is used to carry & hold numerous components & payload necessary for satellite operation.

North America holds majority of market share in satellite bus market

Introduction of light weight satellite bus which can carry numerous components creates opportunities for the growth of the market across the globe

Companies such as Airbus, Lockheed Martin, Boeing others manufacture satelite bus for different space agencies

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Satellite Bus Market

Global Opportunity Analysis and Industry Forecast, 2021-2030