The satellite bus market is estimated at USD 10.21 billion in 2017 and is projected to reach USD 13.64 billion by 2022, at a CAGR of 5.97%

The satellite bus market is estimated at USD 10.21 billion in 2017 and is projected to reach USD 13.64 billion by 2022, at a CAGR of 5.97%

PR Newswire

NEW YORK, Oct. 10, 2018 /PRNewswire/ -- Increased deployment of small satellites and rising space exploration missions are expected to drive the satellite bus market

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The satellite bus market is estimated at USD 10.21 billion in 2017 and is projected to reach USD 13.64 billion by 2022, at a CAGR of 5.97% during the forecast period. Key factors such as technological advancements in bus components and migration of satellites to Geostationary Orbits (GSO) are expected to fuel the growth of the satellite bus market. However, factors such as complexity issues related to bus subsystems and scarce intellectual assets may act as restraints for the growth of the satellite bus market.
Based on satellite size, the large (>2,500) segment is expected to lead the satellite bus market while the small (1-500kg) segment is projected to grow at the highest CAGR during the forecast period
Based on satellite size, the large (>2,500) segment is estimated to lead the satellite bus market during the forecast period.Large satellites have large satellite buses and solar arrays to allow for larger number of transponders, large antennae, greater processing capacity, and greater solar energy production.

The small (1-500kg) segment is projected to witness the highest growth. Various countries are focusing on developing small satellites owing to their low cost and short development time, which has been made possible due to the use of proven standard equipment and off-the-shelf components.
Based on subsystem, the Electric Power System (EPS) segment is expected to lead the satellite bus market, followed by the structures and mechanisms segment, during the forecast period
Based on subsystem, the Electric Power System (EPS) segment is estimated to lead the satellite bus market during the forecast period, followed by the structures and mechanisms segment.The EPS manages the power input from solar cells, charges onboard batteries, and distributes electric power, at the required voltage, to all other subsystems of the satellite.

This structure is the most important part of the satellite bus, as it holds all electronic and power components, a solar array structure, a propulsion module, and support for communication equipment.

North America is estimated to account for the largest share of the satellite bus market in 2017
North America led the satellite bus market in 2016 owing to advancements in propulsion technology and bus design. The satellite bus market in North America is estimated to account for largest market share in 2017.

Break-up of profiles of primary participants in this report:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, Others – 40%
• By Region: North America - 45%, Europe – 20%, Asia Pacific – 30%, RoW – 5%

Key players profiled in the satellite bus market report include Orbital ATK Inc. (US), Lockheed Martin Corporation (US), Thales Alenia Space (France), Airbus Group (Netherlands), and China Academy of Space Technology (China), among others.

Research Coverage
The study segments the satellite bus market on the basis of satellite size (small, medium, and large), subsystem (structures & mechanisms, thermal control, electric power system, attitude control system, propulsion, Telemetry Tracking and Command (TT&C), and flight software), and application (Earth Observation & Meteorology, Communication, Scientific Research & Exploration, Surveillance & Security, and Mapping & Navigation), and maps these segments and subsegments across major regions, namely, North America, Europe, Asia Pacific, and RoW. The report provides in-depth market intelligence regarding market dynamics and major factors such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the satellite bus market, along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the satellite bus market.

Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high growth segments of the satellite bus market, high growth regions, and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on satellite bus offerings by top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the satellite bus market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the market for satellite bus across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the satellite bus market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the satellite bus market

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