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Global Satellite Bus Market Size, Share, Trends, Forecast: By Subsystem: Structures, Thermal Control, Electric Power System, Telemetry, Tracking and Command, Command and Data Handling, Attitude Determination and Control Subsystem, Propulsion; By Satellite Size; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Satellite Bus Market Outlook
The global satellite bus market attained a value of about USD 14.48 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6% to reach nearly USD 24.50 billion by 2032.
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Rising Demand for Satellites to Augment the Market Growth of Satellite Bus
The rising demand for satellites in various end use industries is aiding the growth of the satellite bus industry. As the demand for enhanced data processing and effective global position systems (GPS) is significantly surging, satellites are increasingly deployed for such applications. This, in turn, is escalating the deployment of satellite buses to enable optimal launch and functioning of satellites, which is propelling the market growth. Moreover, the increasing use of small satellites in industries such as communication and IT are surging the requirement for satellite buses to meet mission demands, which is invigorating the market growth. The increasing launches of innovative small satellites by both private and public enterprises are expected to surge the deployment of satellite buses, which is projected to fuel the market growth. Furthermore, the rising demand for commercial-off-the-shelf (COTS) assembled satellite buses to enable the efficient launch of small satellites is expected to aid the market growth. Such developments are anticipated to surge the demand for satellite buses in various industries, such as defence and automotive, among others, and are estimated to fuel the market growth in upcoming years.
Satellite Bus: Market Segmentation
A satellite bus, variously known as a spacecraft bus, refers to the infrastructure of spacecraft. It is deployed as a transport mechanism for space and requires the functioning of various subsystems. A satellite bus minimises the mass of the structure while exerting forces on spacecraft during their launch.
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The major subsystems of satellite bus are:
- Structures
- Thermal Control
- Electric Power System
- Telemetry, Tracking and Command
- Command and Data Handling
- Attitude Determination and Control Subsystem
- Propulsion
The market can be broadly categorised on the basis of its satellite sizes into:
- Small Satellites (upto 500 kgs)
- Large Satellites (above 500 kgs)
The EMR report looks into the regional markets of satellite bus like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Space Missions by Governments to Propel the Growth of the Satellite Bus Industry
The initiation of various space missions by governments is augmenting the market growth for satellite bus. Moreover, the development of civilian spacecraft and satellites is providing impetus to the market growth. For instance, SpaceX launched four private citizens into space in September 2021. As optimal launch performance vehicle is crucial to the success of space missions, satellite buses are increasingly deployed to reduce mass, volume, and power consumption of spacecraft. Moreover, the use of satellite buses also surges data memory, battery capacity, and solar array efficiency, which is bolstering the market growth.
The development of advanced satellite buses to meet the rising demand for automation and intelligence is expected to propel the market growth. The increasing data volume is leading to a surge in the requirement of efficient bus management and control systems, which is projected to bolster the growth of the satellite bus industry. Furthermore, the rising demand for enhanced connectivity in satellite buses to optimise communication is estimated to augment the market growth. This is resulting in the digitisation of sensors on satellite buses to boost their compatibility and functionality. Moreover, the growing use of digital sensors to increase the cost-effectiveness and accuracy of satellite sensors is anticipated to aid the growth of the market in upcoming years.
Key Industry Players in the Global Satellite Bus Market
The report presents a detailed analysis of the following key players in the global satellite bus market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Thales Group
- Lockheed Martin Corporation
- Airbus SE
- OHB SE
- Israel Aerospace Industries Ltd.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Subsystem |
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| Breakup by Satellite Size |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Satellite Bus Market Analysis
8.1 Key Industry Highlights
8.2 Global Satellite Bus Historical Market (2018-2023)
8.3 Global Satellite Bus Market Forecast (2024-2032)
8.4 Global Satellite Bus Market by Subsystem
8.4.1 Structures
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Thermal Control
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Electric Power System
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Telemetry, Tracking and Command
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Command and Data Handling
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Attitude Determination and Control Subsystem
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Propulsion
8.4.7.1 Historical Trend (2018-2023)
8.4.7.2 Forecast Trend (2024-2032)
8.5 Global Satellite Bus Market by Satellite Size
8.5.1 Small Satellites (upto 500 kgs)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Large Satellites (above 500 kgs)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Satellite Bus Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Satellite Bus Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Satellite Bus Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Satellite Bus Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Satellite Bus Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Satellite Bus Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Thales Group
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Lockheed Martin Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Airbus SE
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 OHB SE
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Israel Aerospace Industries Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Satellite Bus Market: Key Industry Highlights, 2018 and 2032
2. Global Satellite Bus Historical Market: Breakup by Subsystem (USD Million), 2018-2023
3. Global Satellite Bus Market Forecast: Breakup by Subsystem (USD Million), 2024-2032
4. Global Satellite Bus Historical Market: Breakup by Satellite Size (USD Million), 2018-2023
5. Global Satellite Bus Market Forecast: Breakup by Satellite Size (USD Million), 2024-2032
6. Global Satellite Bus Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Satellite Bus Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Satellite Bus Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Satellite Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Satellite Bus Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Satellite Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Satellite Bus Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Satellite Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Satellite Bus Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Satellite Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Satellite Bus Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Satellite Bus Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Satellite Bus Market Structure
Key Questions Answered in the Report
In 2023, the global satellite bus market attained a value of nearly USD 14.48 billion.
The market is projected to grow at a CAGR of 6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 24.50 billion by 2032.
The growing demand for satellites, the increasing launches of innovative small satellite buses, and the rising demand for commercial-off-the-shelf (COTS) assembled satellite buses are the major market drivers.
The key trends guiding the market include the initiation of various space missions, the rising demand for optimal launch performance vehicles, and the development of advanced satellite buses.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major subsystems of satellite bus in the market are structures, thermal control, electric power system, telemetry, tracking and command, command and data handling, attitude determination and control subsystem, and propulsion.
The different satellite sizes considered in the market report are small satellites (upto 500 kgs) and large satellites (above 500 kgs).
The major players in the market are Thales Group, Lockheed Martin Corporation, Airbus SE, OHB SE, and Israel Aerospace Industries Ltd., among others.
Analyst Review
The global satellite bus market attained a value of nearly USD 14.48 billion in 2023, driven by the growing demand for satellites. Aided by the rising demand for optimal launch performance vehicles, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6%. The market is projected to reach about USD 24.50 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its subsystems, the satellite bus industry can be segmented into structures, thermal control, electric power system, telemetry, tracking and command, command and data handling, attitude determination and control subsystem, and propulsion. On the basis of satellite sizes, the industry is divided into small satellites (upto 500 kgs) and large satellites (above 500 kgs). The major regional markets for satellite bus are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Thales Group, Lockheed Martin Corporation, Airbus SE, OHB SE, and Israel Aerospace Industries Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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