Satellite Bus Market Global Report 2022-2027
The global satellite bus market size reached US$ 12.93 Billion in 2021. By 2027, It will reach US$ 18.62 Billion, exhibiting a CAGR of 6.15% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, November 29, 2022 /EINPresswire.com/ — The latest research study “Satellite Bus Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global satellite bus market size reached US$ 12.93 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 18.62 Billion by 2027, exhibiting a CAGR of 6.15% during 2022-2027.
What is satellite bus?
A satellite bus, also called a spacecraft bus, represents the structural body and preliminary system comprising of temperature control, power systems, and directional thrusters. It also contains a life support subsystem for human-crewed missions. A satellite bus includes various components, such as propulsion, thrusters and mechanisms, electric power, attitude control, flight software, etc. It provides control and support services to the mission payload. As a result, satellite buses find widespread applications in navigation, communication, climate and environment monitoring, earth observation and meteorology, mapping, surveillance and security, etc.
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Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What are the major drivers for the satellite bus market?
The launch of several policies by the government bodies across the globe to invest in space programs is among the primary factors driving the satellite bus market. Besides this, the escalating product demand for detecting underground water and mineral sources, monitoring the transfer of nutrients and contaminants from land into waterways, measuring land and water temperatures, and the development of algae in seas is further augmenting the market growth.
Moreover, the elevating need for satellite buses by meteorologists to monitor the weather and follow the effects of phenomena, including volcanic eruptions, is also catalyzing the global market. Apart from this, the rising utilization of flexible launch sites and the increasing improvements in reusable rockets are acting as significant growth-inducing factors. Furthermore, the introduction of intelligent power techniques, reconfigurable payloads, and onboard propulsion technologies is anticipated to propel the satellite bus market over the forecasted period.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global satellite bus market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, subsystem, satellite size and application.
Breakup by Subsystem:
• Structures and Mechanisms
• Thermal Control
• Electric Power System
• Attitude Control System
• Telemetry Tracking Command
• Flight Software
Breakup by Satellite Size:
Breakup by Application:
• Earth Observation and Meteorology
• Scientific Research and Exploration
• Surveillance and Security
• 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
List of Major Key Players:
• 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
• The Boeing Company.
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