Satellite Bus Market Growing at 5.8%, CAGR to Hit USD 20.84 Billion by 2030 | Growth, Share Analysis, Company Profiles

Satellite Bus Market - By subsystem, the electric power system segment is expected to register a significant growth during the forecast period.

WILMINGTON, DE, UNITED STATES, November 27, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Satellite Bus Market¹ by Subsystem (Structure & Mechanism, Thermal Control, Electric Power System, Attitude Control System, Propulsion, Telemetry Tracking Command and Flight Software), Application (Earth Observation & Meteorology, Communication, Scientific Research & Exploration, Surveillance & Security, Mapping and Navigation), and Satellite³ Size (Small, Medium and Large): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global Satellite Bus² industry generated $11.91 billion in 2020, and is anticipated to generate $20.84 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 (276 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭 https://www.alliedmarketresearch.com/request-sample/8129

Prime determinants of growth

Surge in number of satellite launches and increase in investment by governments & space agencies drive the growth of the global satellite bus market. However, lack of clarity in government policies and stringent government regulations for implementation & use of satellite hinder the market growth. On the other hand, rise in incorporation of new technologies and advancements in satellite mission technologies present new opportunities in the coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 https://www.alliedmarketresearch.com/request-for-customization/8129

The communication segment to maintain its leadership status throughout the forecast period

Based on application, the communication segment held the highest market share in 2020, accounting for more than one-fourth of the global satellite bus market, and is estimated to maintain its leadership status throughout the forecast period. Satellite communication plays a vital role in the global communications systems which drives the growth of the satellite bus market. In addition, communication satellites are used for wireless, radio, internet, television, mobile communication applications and military applications which also proves to be a factor supplementing the growth of the segment in the global market. Moreover, the earth observation & meteorology segment is projected to manifest the highest CAGR of 6.9% from 2021 to 2030, owing to its contribution towards understanding of climate change and the global environment.

The large segment to maintain its lead position during the forecast period

Based on satellite size, the large segment accounted for the largest share in 2020, contributing to nearly two-fifths of the global satellite bus market, and is projected to maintain its lead position during the forecast period. This is due to the fact that large satellites can be used to carry numerous components in a single satellite bus which can be used to perform numerous operations. However, the small segment is expected to portray the largest CAGR of 9.8% from 2021 to 2030, owing to less cost needed to develop and launch small vehicles.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐡𝐞𝐫𝐞 𝐚𝐭 https://www.alliedmarketresearch.com/purchase-enquiry/8129

North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global satellite bus market. This is attributed to numerous developments carried out by the key companies operating in the satellite & associated components industry. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 6.7% during the forecast period, owing to the increased application of satellites in numerous industries such as surveillance, mapping, navigation & others.

Leading Market Players
Airbus S.A.S
Ball Corporation
Israel Aerospace Industries Ltd. (IAI)
ISRO
Lockheed Martin Corporation
Mitsubishi Electric Corporation
Northrop Grumman Corporation
Sierra Nevada Corporation
Thales Group
The Boeing Corporation

𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 𝐚 𝐅𝐑𝐄𝐄 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐭𝐢𝐨𝐧 𝐂𝐚𝐥𝐥 𝐰𝐢𝐭𝐡 𝐎𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭𝐬 𝐭𝐨 𝐅𝐢𝐧𝐝 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐭 https://www.alliedmarketresearch.com/connect-to-analyst/8129

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐏𝐚𝐫𝐚𝐜𝐡𝐮𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 www.alliedmarketresearch.com/militar…ket-A09102
𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 www.alliedmarketresearch.com/militar…ket-A13309

David Correa
Allied Market Research
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
X

¹ https://www.alliedmarketresearch.com/satellite-bus-market-A07764
² https://www.prnewswire.com/news-releases/satellite-bus-market-to-reach-20-84-billion-globally-by-2030-at-5-8-cagr-allied-market-research-301466409.html
³ https://www.alliedmarketresearch.com/satellite-services-market