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Global Satellite Bus Market to Reach About USD 17.25 Billion by 2026, Aided by the Increasing Investments in Satellite Technology

According to a new report by EMR titled, ‘Global Satellite Bus Market Report and Forecast 2021-2026’, the global market for satellite bus attained a value of about USD 12.15 billion in 2020. The industry is further expected to grow at a CAGR of 6.02% in the forecast period of 2021-2026 to reach a value of approximately USD 17.25 billion by 2026.

North America holds a significant share of the satellite bus industry owing to the rapid adoption of advanced technology in the region. Moreover, the presence of leading space organisations, such as the National Aeronautics and Space Administration (NASA), is positively impacting the market growth. The increasing investments in satellite technology by the government, especially in defence and military applications, are escalating the deployment of satellite buses, hence fuelling the industry growth. The presence of various leading companies in the region is further bolstering the market growth. Meanwhile, the Asia Pacific region is poised to witness rapid growth due to the rising demand for satellite buses in developed countries, such as Japan, Singapore, and South Korea, among others. The increasing investments in space technologies by various governments in the region are expected to augment the growth of the market in upcoming years.

Thales Alenia Space, a joint venture of Leonardo S.p.A (BIT: LDO) and Thales Group (EPA: HO), announced in August 2020 that it had signed a contract with SES to build geostationary communications satellites, SES-22 and SES-23. The joint venture was expected to be responsible for the production, design, and testing of satellites. Moreover, it was anticipated to support payload in-orbit acceptance tests, and its Spacebus 4000 B2 platform was projected to be the base of the new satellites. The satellites were designed to provide digital broadcasting services in North America. In addition, they would enable SES to contribute to the efficient rollout of the 5G network in the United States. Such developments are increasing the use of satellite buses, which is providing impetus to the market growth.

Market Analysis by Subsystem, Satellite Size, and Region:

  • The market, on the basis of subsystem, can be divided into structures, thermal control, electric power system, telemetry, tracking and command, command and data handling, attitude determination and control subsystem, and propulsion.
  • Based on satellite size, the industry can be divided into small satellites (upto 500 kgs) and large satellites (above 500 kgs).
  • The regional markets for satellite bus include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for satellites in various industries is increasing the deployment of satellite buses, hence propelling the market growth.
  • The market is being aided by the increasing launches of small satellites and the growing demand for commercial off-the-shelf (COTS) assembled satellite buses.
  • The increasing space missions and the trend of civilian spacecrafts are surging the demand for satellite buses, which is augmenting the market growth.
  • The development of satellite buses that offer automation, enhanced functionality, and intelligence, to meet increasing data volumes is expected to drive the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for satellite bus for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the subsystems, satellite sizes, and major regions of satellite bus.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global satellite bus market are Thales Group, Lockheed Martin Corporation, Airbus SE, OHB SE, and Israel Aerospace Industries Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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