The report "Satellite
Bus Market by Subsystem (Structures & Mechanisms, Thermal
Control, Electric Power, Attitude Control, Propulsion, Telemetry Tracking and
Command (TT&C), Flight Software), Satellite Size, Application, and Region -
Global Forecast to 2022", published by MarketsandMarkets™, the market
is estimated to grow from an estimated USD 10.21 Billion in 2017
to USD 13.64 Billion by 2022, at a CAGR of 5.97% during the forecast
period.
Browse 67 Market Data Tables and 43
Figures spread through 142 Pages and in-depth TOC on "Satellite
Bus Market - Global Forecast to 2022"
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Key factors such as
increasing focus on low cost, rise in demand for earth observation related
activities, mass production, and long life cycle of satellites have generated
the interest of satellite manufacturers and related players in the satellite
industry. Growth in the satellite market has aided the increase in demand for
bus components, boosting the satellite bus market.
Based on satellite
size, the small (1-500 kg) segment is expected to lead the satellite bus market
during the forecast period
Based on satellite
size, the small (1-500 kg) segment is estimated to lead the satellite bus
market during the forecast period, as these satellites can be used for high
precision and complex space missions such as remote sensing, navigation,
maritime and transportation management, space & earth observation, disaster
management, military intelligence, telecommunications, and other academic purposes.
The earth observation
& meteorology application segment is estimated to lead the satellite bus
market during the forecast period
Based on application,
the earth observation & meteorology segment is projected to lead the
satellite bus market during the forecast period due to the increasing use of
satellites for scientific research purposes as well as for earth observation
worldwide. The advanced design and manufacture of satellite buses for various
satellite applications, such as communications, earth observation &
meteorology, communication, scientific research & exploration, surveillance
& security, and mapping & navigation are expected lead to an increase
in the launch of satellites into orbits.
North America is
estimated to account for the largest share of the satellite bus market in 2017
North America is
estimated to lead the satellite bus market in 2017. There is an increasing
interest in satellites due to the lowered cost of satellite launch vehicles,
and an increase in the applicability of satellites in both, commercial and
military sectors. Thus, the growing applicability of satellites is one of the
most significant factors propelling the demand for satellite bus in North
America. In addition, advances in propulsion technology and spacecraft design
have contributed to the growth of the satellite bus market in North
America.
Airbus Group
(Netherlands), The Boeing Company (US), China Academy of Space Technology
(China), Honeywell International Inc. (US), Indian Space Research Organization
(India), Israel Aerospace Industries Ltd (Israel), Lockheed Martin Corporation
(US), MacDonald, Dettwiler and Associates Ltd. (Canada), Mitsubishi Electric
Corporation (Japan), Orbital ATK, Inc. (US), and Thales Alenia Space (France),
among others, are the major players in the satellite bus market.
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