Satellite and Spacecraft Subsystems Market Experiences Rapid Growth Due to Increasing Demand for Advanced Capabilities

The Satellite Spacecraft Subsystem market is expected to grow from an estimated USD 3251.2 million in 2024 to USD 6499.2 million in 2033, at a CAGR of 8.00%. The satellite and spacecraft subsystems market is expanding quickly, driven by the growing demand for advanced satellite capabilities in communication, Earth observation, navigation, and defense applications. These subsystems, including propulsion systems and attitude control, are crucial for satellites to achieve their intended orbits, perform necessary maneuvers, and maintain stability during their operational lifespan.

In November 2023, Maxar Space Systems handed over operational control of the JUPITER 3 communication satellite to EchoStar. This satellite features 14 solar panels to support high-bandwidth communication missions, including deep space programs like NASA's Power and Propulsion Element (PPE) in the Gateway project. This demonstrates how satellite systems are playing an integral role in space exploration and advanced communication.

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The market is also being significantly boosted by the rising need for Earth observation satellites, which are vital for environmental monitoring, disaster response, and other essential services. A notable example is the launch of the Sentinel-6 Michael Freilich satellite in October 2022 by the European Space Agency, which enhances global sea-level monitoring. Similarly, Planet Labs launched additional Earth imaging satellites in March 2023 to expand their fleet for daily Earth observation, catering to growing demands for reliable environmental data.

The business sector's interest in Earth data, especially driven by environmental concerns and economic factors, is fueling further demand for satellite and spacecraft subsystems. This continued growth reflects the critical role these systems play in meeting various observational requirements, further expanding the market.

Market Drivers: Increased Satellite Launches and High Demand Across Sectors

The growth in satellite launches is one of the key drivers behind the rapid expansion of the satellite spacecraft subsystems market. The commercial and military sectors are increasingly adopting satellites for applications like communication, imaging, and navigation, which require various subsystems. Technological advancements, including nano and small spacecraft buses, have lowered the cost of satellite components, contributing to higher adoption rates.

Industry analysis suggests that over 10,000 small satellites are expected to be launched into Low Earth Orbit (LEO) by 2026. The rising collaboration between private satellite manufacturers and government entities is further accelerating the market's growth. Despite a decline in the reliability of medium and heavy satellites, the high demand for small satellite buses for both commercial and military applications continues to drive the market.

Market Restraints: Space Debris Threatens Growth

A growing challenge to the satellite and spacecraft subsystems market is the increasing threat of space debris. Currently, there are approximately 3,000 tons of space junk orbiting Earth, which poses significant risks to operational satellites. The threat of debris endangers satellite functionality and safety, making it imperative to develop effective debris reduction technologies and international cooperation to maintain the long-term viability of space activities.

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Satellite Spacecraft Subsystems Market Segmentation Insights

The satellite and spacecraft subsystems market is classified based on various components, including payloads, electrical and power subsystems, communication subsystems, propulsion systems, and more. Payloads are expected to dominate the market, as they are essential for collecting and processing data for a wide range of applications such as communication, Earth observation, and scientific research.

As businesses and governments increasingly rely on satellite data, the demand for advanced payloads is surging. Meanwhile, the communication subsystem is experiencing the fastest growth. This surge is driven by the need for high-speed data transmission and connectivity, especially with the rise of satellite constellations aimed at expanding global internet services. Communication subsystems are being designed to handle the higher data volumes and ensure reliability, which is a major area of focus and investment in the market.

The need for these satellite subsystems to meet growing demands for data connectivity, Earth observation, and space-based communication will continue to fuel the market's rapid growth in the coming years.

Satellite Spacecraft Subsystem Top Companies and Competitive Landscape

The satellite spacecraft subsystem industries comprise power systems, propulsion, communication, and thermal control. Some of the key companies in the sector are Airbus S.A.S, Ball Aerospace, Data Device Corporation, Honeywell International, and Israel Aerospace Industries.

Most of these companies produce satellite subsystems and invest in the latest technologies to improve the efficiency and reliability of satellites. There will be a growing demand for satellite services due to people relying more on communication, Earth observation, and navigation. This should expand the industry, driving innovation and collaboration between the leading manufacturers and service providers.

For instance, in June 2023, SpaceLogistics, a wholly owned subsidiary of Northrop Grumman, signed a purchase deal with Intelsat, a major communications satellite operator. As part of this deal, SpaceLogistics' Mission Robotic Vehicle (MRV), a spacecraft with robotic arms, will place the Mission Extension Pod (MEP) on an Intelsat communications satellite in geosynchronous Earth orbit (GEO). This installation would essentially extend the satellite's operating life for at least six years.

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Some of the key companies in the global Satellite Spacecraft Subsystem market include:

Airbus S.A.S.

Ball Aerospace

Data Device Corporation

Honeywell International

Israel Aerospace Industries

Lockheed Martin Corporation

Mitsubishi Electric Corporation

Northrop Grumman

OneWeb

OHB System

Satellite Spacecraft Subsystem Latest Industry Updates

In June 2023, OHB Sweden, a part of the space and technology business OHB SE, and Thales Alenia Space have inked an agreement to design, manufacture, integrate, test, and deliver a propulsion system for two key ESA/EU Copernicus missions, CHIME and ROSE-L. Furthermore, the ROSE-L mission would support a variety of applications, including agriculture, environmental monitoring, food security, and hazard management.

In June 2023, Telstra and OneWeb agreed to conduct one of the world's largest rollouts of OneWeb's low Earth orbit (LEO) backhaul for a commercial mobile network. Following successful testing in Australia, Telstra and OneWeb struck a business deal to begin transferring hundreds of existing remote mobile base stations from satellite backhaul to OneWeb's LEO technology by the end of 2023. Additionally, Telstra intends to use OneWeb's LEO services for future sites where satellite backhaul is the preferred or only practical choice.

In May 2023, Lockheed Martin Corporation was part of the winning team that was awarded a contract by NASA to develop and demonstrate a human landing system as part of the agency's Human Landing System program, which is an important component of the Artemis program. The program's main goal is to quickly develop a viable lunar lander capable of safely carrying astronauts to the lunar surface.

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Satellite Spacecraft Subsystem Market Segmentation Analysis

End User Outlook (Revenue, USD Million; 2020-2033)

Commercial

Civil Government

Defense

Academic/Research Group

Component Outlook (Revenue, USD Million; 2020-2033)

Payload

Electrical and Power Subsystem

Command and Data Handling System

Communication Subsystem

Thermal Control Subsystem

Attitude Determination and Control Subsystem

Propulsion System

Mechanism

Actuator

Structure

Satellite Subsystem Outlook (Revenue, USD Million; 2020-2033)

Structure

Avionics

Propulsion System

Control System

Electrical System

Stage Separation

Thermal System

Deep Space Probe Subsystem Outlook (Revenue, USD Million; 2020-2033)

Orbiter, Lander, and Rover

Onboard Computer, Microprocessor, and Controller

Power Source (Power management, Solar Panel, Batteries, Convertors)

Memory and Solid-State Recorder

FPGA and ASIC

Transmitter and Receiver and Antennas

Sensors

Regional Outlook (Revenue, USD Million; 2020-2033)

North America

United States

Canada

Mexico

Europe

Germany

France

United Kingdom

Italy

Spain

Benelux

Rest of Europe

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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