Satellite Bus Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
The Global Satellite Bus Market was valued at USD 13.6 billion in 2023 and is projected to grow at a CAGR of 7% from 2024 to 2032. A key driver for this growth is the increasing utilization of Earth observation satellites in areas like environmental monitoring, agriculture, disaster management, and urban planning. One of the major hurdles to market growth is navigating the intricate maze of international, national, and regional regulations. Each country has its own set of rules governing satellite operations, covering aspects like licensing, frequency allocation, and orbital slot management. Adhering to these regulations can be both time-consuming and expensive.
Moreover, obtaining the necessary licenses for specific frequency bands or orbits can be a protracted and unpredictable process, often resulting in delays in satellite deployment. The satellite bus industry is also significantly propelled by the trend of miniaturization and modular design in satellite technology. Small satellite buses, such as CubeSats and nanosatellites, are gaining traction due to their cost-effectiveness, quicker development timelines, and the feasibility of launching multiple satellites at once. These small buses boast modular designs, enabling customization for diverse missions by simply adding or removing components.
This not only trims down overall costs but also boosts the flexibility and scalability of satellite systems, making them appealing to both commercial and governmental bodies. The overall industry is divided into satellite size, orbit type, application, end-user industry, and region. The market categorizes satellite buses based on size into small, medium (500-1000 kg), and large (over 1000 kg). The small satellite bus segment is anticipated to witness a CAGR of 10% during the forecast period.
The rising trend of small satellite constellations is amplifying the demand for dependable and scalable small satellite buses. This surge in demand has spurred innovations in bus design for catering to the distinct needs of constellations, such as advanced communication systems, onboard processing, and superior power management. Segmented by end-user industry, the satellite bus market encompasses commercial, government/military, and civil/scientific sectors. The commercial segment is set to lead the global market, projecting revenues exceeding USD 10 billion by 2032. This dominance is fueled by a rising demand for Earth Observation (EO) and remote sensing applications, particularly in commercial sectors like agriculture, urban planning, environmental monitoring, and disaster management North America led the global satellite bus market, capturing over 30% share in 2023. The dominance is attributed to substantial investments in space technology and the presence of industry giants like Lockheed Martin and Boeing.Strong governmental backing, especially from NASA and the Department of Defense, creates a favorable landscape for satellite bus development and deployment.
Moreover, obtaining the necessary licenses for specific frequency bands or orbits can be a protracted and unpredictable process, often resulting in delays in satellite deployment. The satellite bus industry is also significantly propelled by the trend of miniaturization and modular design in satellite technology. Small satellite buses, such as CubeSats and nanosatellites, are gaining traction due to their cost-effectiveness, quicker development timelines, and the feasibility of launching multiple satellites at once. These small buses boast modular designs, enabling customization for diverse missions by simply adding or removing components.
This not only trims down overall costs but also boosts the flexibility and scalability of satellite systems, making them appealing to both commercial and governmental bodies. The overall industry is divided into satellite size, orbit type, application, end-user industry, and region. The market categorizes satellite buses based on size into small, medium (500-1000 kg), and large (over 1000 kg). The small satellite bus segment is anticipated to witness a CAGR of 10% during the forecast period.
The rising trend of small satellite constellations is amplifying the demand for dependable and scalable small satellite buses. This surge in demand has spurred innovations in bus design for catering to the distinct needs of constellations, such as advanced communication systems, onboard processing, and superior power management. Segmented by end-user industry, the satellite bus market encompasses commercial, government/military, and civil/scientific sectors. The commercial segment is set to lead the global market, projecting revenues exceeding USD 10 billion by 2032. This dominance is fueled by a rising demand for Earth Observation (EO) and remote sensing applications, particularly in commercial sectors like agriculture, urban planning, environmental monitoring, and disaster management North America led the global satellite bus market, capturing over 30% share in 2023. The dominance is attributed to substantial investments in space technology and the presence of industry giants like Lockheed Martin and Boeing.Strong governmental backing, especially from NASA and the Department of Defense, creates a favorable landscape for satellite bus development and deployment.
Report Content
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021-2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Rise of earth observation and remote sensing applications
3.8.1.2 Increasing demand for high-capacity communication satellites
3.8.1.3 Advancements in miniaturization and modular satellite bus design
3.8.1.4 Growing government and military investments in space-based defense and surveillance
3.8.1.5 Expansion of commercial space exploration and satellite services
3.8.2 Industry pitfalls & challenges
3.8.2.1 High development and launching costs
3.8.2.2 Regulatory and licensing challenges
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY SATELLITE SIZE, 2021-2032 (USD MILLION)
5.1 Key trends
5.2 Small satellite bus
5.2.1 Nano-satellite bus (1 kg to 10 kg)
5.2.2 Micro-satellite bus (10 kg to 100 kg)
5.2.3 Mini-satellite bus (100 kg to 500 kg)
5.3 Medium satellite bus (500-1000 kg)
5.4 Large satellite bus (more than 1000 kg)
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY ORBIT TYPE, 2021-2032 (USD MILLION)
6.1 Key trends
6.2 Low earth orbit (LEO)
6.3 Medium earth orbit (MEO)
6.4 Geostationary orbit (GEO)
6.5 Highly elliptical orbit (HEO)
6.6 Others
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021-2032 (USD MILLION)
7.1 Key Trends
7.2 Communication
7.3 Earth observation & remote sensing
7.4 Navigation
7.5 Scientific research & space exploration
7.6 Technology demonstration
7.7 Surveillance & reconnaissance
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY END-USER INDUSTRY, 2021-2032 (USD MILLION)
8.1 Key trends
8.2 Commercial
8.3 Government/Military
8.4 Civil/Scientific
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY REGION, 2021-2032 (USD MILLION)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Rest of Latin America
9.6 MEA
9.6.1 UAE
9.6.2 South Africa
9.6.3 Saudi Arabia
9.6.4 Rest of MEA
CHAPTER 10 COMPANY PROFILES
10.1 Airbus
10.2 BAE Systems, Inc.
10.3 Alйn Space
10.4 Boeing
10.5 Centum Electronics Limited
10.6 Dragonfly Aerospace
10.7 Israel Aerospace Industries Limited
10.8 Lockheed Martin Corporation
10.9 Maxar Technologies Holdings Inc.
10.10 Mitsubishi Electric Corporation
10.11 NanoAvionics UAB
10.12 NORTHROP GRUMMAN
10.13 OHB System AG
10.14 RTX Corporation
10.15 Sierra Nevada Corporation
10.16 Surrey Satellite Technology Ltd
10.17 Thales Group
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021-2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Rise of earth observation and remote sensing applications
3.8.1.2 Increasing demand for high-capacity communication satellites
3.8.1.3 Advancements in miniaturization and modular satellite bus design
3.8.1.4 Growing government and military investments in space-based defense and surveillance
3.8.1.5 Expansion of commercial space exploration and satellite services
3.8.2 Industry pitfalls & challenges
3.8.2.1 High development and launching costs
3.8.2.2 Regulatory and licensing challenges
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY SATELLITE SIZE, 2021-2032 (USD MILLION)
5.1 Key trends
5.2 Small satellite bus
5.2.1 Nano-satellite bus (1 kg to 10 kg)
5.2.2 Micro-satellite bus (10 kg to 100 kg)
5.2.3 Mini-satellite bus (100 kg to 500 kg)
5.3 Medium satellite bus (500-1000 kg)
5.4 Large satellite bus (more than 1000 kg)
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY ORBIT TYPE, 2021-2032 (USD MILLION)
6.1 Key trends
6.2 Low earth orbit (LEO)
6.3 Medium earth orbit (MEO)
6.4 Geostationary orbit (GEO)
6.5 Highly elliptical orbit (HEO)
6.6 Others
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021-2032 (USD MILLION)
7.1 Key Trends
7.2 Communication
7.3 Earth observation & remote sensing
7.4 Navigation
7.5 Scientific research & space exploration
7.6 Technology demonstration
7.7 Surveillance & reconnaissance
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY END-USER INDUSTRY, 2021-2032 (USD MILLION)
8.1 Key trends
8.2 Commercial
8.3 Government/Military
8.4 Civil/Scientific
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY REGION, 2021-2032 (USD MILLION)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Rest of Latin America
9.6 MEA
9.6.1 UAE
9.6.2 South Africa
9.6.3 Saudi Arabia
9.6.4 Rest of MEA
CHAPTER 10 COMPANY PROFILES
10.1 Airbus
10.2 BAE Systems, Inc.
10.3 Alйn Space
10.4 Boeing
10.5 Centum Electronics Limited
10.6 Dragonfly Aerospace
10.7 Israel Aerospace Industries Limited
10.8 Lockheed Martin Corporation
10.9 Maxar Technologies Holdings Inc.
10.10 Mitsubishi Electric Corporation
10.11 NanoAvionics UAB
10.12 NORTHROP GRUMMAN
10.13 OHB System AG
10.14 RTX Corporation
10.15 Sierra Nevada Corporation
10.16 Surrey Satellite Technology Ltd
10.17 Thales Group
