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Satellite Bus Market Size, Share, Trends, Demand, Growth And Competitive Analysis 2024-2033
Satellite Bus Market
The Business Research Company presents an extensive market research report on the Satellite Bus Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The satellite bus market size has grown strongly in recent years. It will grow from $12.1 billion in 2023 to $12.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to increasing demand for small satellites, high adoption of satellite constellation, and growing number of private space enterprises.
The satellite bus market size is expected to see strong growth in the next few years. It will grow to $16.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increase in the number of satellite launches, increasing demand from defense sector, and increasing government investments in space sector. Major trends in the forecast period include companies should consider undergoing partnerships to strengthen their position, focus on launching small satellite buses, consider applying advanced and additive manufacturing techniques, including 3d printing in satellite buses, and focus on the use of internet of things.
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Key Market Players:
Major companies operating in the satellite bus market report are Lockheed Martin Corporation, Thales Group, Airbus SE, Northrop Grumman Corporation, The Boeing Corporation, Mitsubishi Electric Corporation, Ball Corporation, Honeywell International Inc., Sierra Nevada Corporation, Israel Aerospace Industries Ltd. (IAI), Comsat Systems Private Limited, Mitsubishi Heavy Industries, Dhruva Space, Inovor Technologies, Beijing Commsat Technology Development Co Ltd, Anabond Limited, Avasarala Technologies Limited, The China Aerospace Science and Technology Corp (CASC), Gilmour Space Technologies Valiant Space NextAero, Tamadic Co Ltd, Instarsat, AAC Clyde Space, Alba Orbital, Argotec, Exobotics, Exodus Orbitals, Cessna, Telespazio SpA, Raytheon, JSC Information Satellite Systems Reshetnev, Russian Satellite Communications Company, Surrey Satellite Technology Ltd, GomSpace Group AB, EnduroSat, Sputnix, SpaceQuest Ltd, Alliant Techsystems Inc, Visiona Tecnologia Espacial, Embratel Satelites, INVAP SE, OneWeb, Empresa Argentina de Soluciones Satelitales Sociedad Anonima (ARSAT), Satellogic, SAR-Sat Arabia, Arabsat, Israel Aerospace Industries (IAI), Space AI SpacePharma (SPACEPHARMA), Circle Aerospace, Space Plasmatics, SCS Space, Heliaq, CubeSpace / Innovus, Dragonfly Aerospace, Simera Sense
Market Drivers:
The increase in investment by governments & space agencies is significantly driving the growth of the satellite bus market. The government of different countries is allocating special budgets for exploration, development, testing, evaluation, procurement and operation, and conservation of satellites and associated factors. The increased expenditure on new satellites is expected to boost the utilization of satellite buses, as they are often used as a structural body and primary system for space vehicles. For instance, in February 2022, according to the Orbital Today article, a UK-based online space magazine, the government of the UK announced the investment of £600,000 in funding to the UK space industry to enhance the research and development in the space sector and space exploration programs. Thus, an increase in investment by government and space agencies will contribute to a rise in demand for satellite buses during the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/satellite-bus-global-market-report
The satellite bus market covered in this report is segmented -
1) By Type: Small Satellite, Medium Satellite, Large Satellite
2) By Application: Earth Observation And Meteorology, Communication, Scientific Research and Exploration, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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