Satellite Bus Market Top Trends, Growth Rate, Outlook With Company Analysis And Forecast to 2032

As per The Business Research Company's Satellite Bus Opportunities And Strategies Market Report 2023, the satellite bus market size reached a value of nearly $10,418.0 million in 2021, having grown at a compound annual growth rate (CAGR) of 3.1% since 2016. The market is expected to grow from $10418.0 million in 2021 to $13,622.5 million in 2026 at a rate of 5.5%. The satellite bus market size is then expected to grow at a CAGR of 5.6% from 2026 and reach $17,866.0 million in 2031.

The increase in number of satellite launches is expected to propel the satellite bus market growth during the forecast period. Growing satellite launches by both public and commercial companies are anticipated to accelerate the deployment of satellite buses, which is anticipated to drive market expansion. For example, in 2022, SpaceX, a US-based company that designs, manufactures advanced rockets and spacecraft, launched 32 satellites for Starlink Mission, a satellite internet constellation operated by SpaceX to provide satellite Internet access coverage and broke the annual launch record. Additionally, in 2022, The Indian Space Research Organization (ISRO) launched the earth observation satellite EOS-04 along with two other satellites, on the PSLV-C52 mission. Therefore, the increasing number of satellite launches will drive the market growth.

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A focus on small satellite buses is gaining popularity in the satellite bus market. Small satellite buses help to reduce the large economic cost of satellite launches and the costs associated with manufacturing. Major companies are focusing on launching small satellite buses for their market growth. For example, in October 2021, Israel Aerospace Industries (IAI), an Israel based aerospace and aviation manufacturer has developed a small geostationary orbit communications satellite bus intended to provide a low-cost spacecraft with an advanced payload to customers that don't require a larger satellite. It consists of an advanced digital communication payload and space smartphone capabilities that provide the operators with flexibility throughout the satellite's mission life.

The top opportunities in the satellite bus market segmented by type will arise in the small satellite market segment, which will gain $1,442.4 million of global annual sales by 2026. The top opportunities in the satellite bus market segmented by application will arise in the communication market segment, which will gain $1,084.2 million of global annual sales by 2026. The top opportunities in the satellite bus market size will gain the most in USA at $740.6 million.

Satellite Bus Market Segmentation:
The satellite bus market is segmented by type, by component, by function and by type of traders.
By Type -
The satellite bus market is segmented by type into
a) Small Satellite
b) Medium Satellite
c) Large Satellite

By Application -
The satellite bus market is segmented by application into
a) Earth Observation and Meteorology
b) Communication
c) Scientific Research and Exploration
d) Other Applications

Major players in the satellite bus market include Lockheed Martin Corporation, Thales Group, Airbus SE, Northrop Grumman Corporation, The Boeing Corporation.

The regions covered in the global satellite bus market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Satellite Bus Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Satellite Bus Market Report Table Of Content
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
18. Competitive Landscape And Company Profiles
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Satellite Bus Market, Conclusions And Recommendations
23. Appendix

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