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(USGovernment-News.Com, June 22, 2018 ) Global Satellite Bus Market was valued at USD 10.4 billion in the year 2017. Global Satellite Bus market is further estimated to grow at a CAGR of 6.4% from 2018 to reach USD 15.1 billion by the year 2023. North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At country level U.S is projected to grow strongly in the coming years.
Lockheed Martin Corporation (U.S.), Airbus S.A.S. (France), Boeing (U.S.), Mitsubishi Electric Corporation (Japan), Thales Group (France), Israel Aerospace Industries Ltd. (Israel), Orbital ATK, Inc (U.S.), Sierra Nevada Corporation (U.S.), Honeywell International Inc. (U.S.), China Academy of Space Technology (China), Ball Corporation (U.S.), Maxar Technologies Ltd. (MDA) (U.S.), are some of the key players in the Global Satellite Bus market. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
Drivers: Deployment of satellites as increase in space investigation missions
Restraints: Repair system and maintenance in space
Opportunities: Implementation of technology in Satellite Bus
Challenges: Government Regulations and norms.
For global Satellite Bus market the major shares of the market comes from Electric Power System type among other sub segmented which includes Flight Software, Attitude Control System, Structures & Mechanisms, Thermal Control, Telemetry Tracking and Command (TT&C) and Propulsion. On the basis of applications the market is segmented as communication, surveillance & security, earth observation & meteorology, scientific research & exploration, mapping & navigation and others of which earth observation & meteorology is expected to hold the highest market share. On the other hand, Small satellite by size among medium and large sizes for this market is expected to grow at highest CAGR during year 2018-2023.
Key Benefits for Stakeholders Satellite Bus and components Manufacturers, Distributors and Retailers Research and Consulting Organization Technology Standards Organizations, Forums, Alliances and Associations End use industries Government, Regulatory bodies and consumers.
By Size Small (1-500kg) Medium (501-2,500kg) Large (Above 2,500kg)
By Application Communication Surveillance & Security Earth Observation & Meteorology Scientific Research & Exploration Mapping & Navigation Others
By Subsystem Flight Software Attitude Control System Electric Power System Structures & Mechanisms Thermal Control Telemetry Tracking and Command (TT&C) Propulsion
By Region North America Europe Asia-Pacific RoW
Key Market Players Lockheed Martin Corporation Airbus S.A.S. Boeing Mitsubishi Electric Corporation Thales Group Israel Aerospace Industries Ltd. Orbital ATK, Inc Sierra Nevada Corporation Honeywell International Inc. China Academy of Space Technology Ball Corporation Maxar Technologies Ltd. (MDA)
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