Satellite Bus Market Projected to Grow at a Steady Pace During 2018-2023

The Satellite Bus Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.

Some key takeaways from this report –
The report offers key drivers that trigger the growth in the Satellite Bus Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.

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The research offers segment wise analysis of the Satellite Bus Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.
Satellite Bus Market Share by Satellite Size Type
Based on the satellite size, the market is segmented into small, medium, and large size. Large size currently dominates the market and is expected to maintain its dominance over the next five years, driven by a host of factors including the presence of a large number of satellite buses and solar cells in order to allow a large number of functions including greater solar production and processing capacity. It also expected that small size segment is likely to witness the highest growth during the forecast period. The demand for small satellites is growing due to sharply reducing launch costs from commercial space companies as well as an increased demand for small satellites from earth observation to communications to networking applications. Furthermore, the low cost and short development time in the integration of small satellites are other factors substantiating the growth of the segment in the global satellite bus market.

Satellite Bus Market Share by Application Type
Based on the application type, the market is segmented into Earth Observation and Meteorology, Communication, Scientific Research & Exploration, Surveillance & Security, and Mapping & Navigation. The earth observation and meteorology segment is expected to grow at the highest rate in the coming five years, owing to their capability to monitor situations, such as cyclones, storms, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and other such calamities. There has been a high focus for the development of small satellites targeting key areas including earth observation, communications, and networking.

Satellite Bus Market Share by Subsystem Type
The global satellite bus market is segmented based on the subsystem type as Structures & Mechanisms, Thermal Control, Electric Power System, Attitude Control System, Propulsion, Telemetry Tracking & Command (TT&C), and Flight Software. Electrical power system segment is projected to grow at the highest CAGR during the forecast period. The electric power system plays a vital role through generation, storage, conditioning control, and distribution of power within the satellites. Electric power system helps in managing the power input of solar cells, charging onboard batteries, and distributing the electric power, to all other subsystems of the satellite at the required voltage.

Regional Insights
Based on the regions, North America dominates the satellite bus market, driven by the presence of major spacecraft OEMs and tier players. The USA is the growth engine of the region’s market as the country has the highest space budget in the world, which is almost six times the country with the second highest space budget. Also, NASA is the largest space agency in the world, which is largely involved in space-related activities located in the USA. Furthermore, major spacecraft OEMs, such as Orbital ATK, Lockheed Martin, and Honeywell International, have the presence in the USA.

Key Players
The following are the key players in the Satellite Bus Market-
• Orbital ATK, Inc.
• Lockheed Martin Corporation
• Thales Alenia Space
• Airbus Group
• China Academy of Space Technology
• Israel Aerospace Industries Ltd
• The Boeing Company
• Honeywell International Inc.
• Mitsubishi Electric Corporation
• Ball Corporation
• Macdonald
• Dettwiler and Associates Ltd.
• Sierra Nevada Corporation.

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This release was published on openPR.