Global Satellite Bus Market Report and Forecast 2024-2032

Global Satellite Bus Market Size

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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Satellite Bus Market Growth

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 Industry 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