“Increasing focus on reducing mission cost, advanced mechanics, ease of assembly and launch, mass production, and advanced technological development in satellite bus components are expected to drive the satellite bus market”

This report provides an analysis of the satellite bus market over the next five years. It discusses industry and technological trends currently prevailing in the market. The report analyses factors driving and restraining the growth, as well as challenges faced by the satellite bus market.

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 increasing focus on reducing mission cost, satellite miniaturization, and rise in demand for earth observation related activities are expected to fuel the growth of the satellite bus market.

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The satellite bus market in North America is expected to witness the highest growth during the forecast period, due to increasing participation of private players in satellite bus development and rising demand for satellites for use in earth observation related applications.

Technological advancements in the satellite industry have positively impacted the different verticals of the industry, such as the bus market, antenna market, and payload market. Key players in this market such as Orbital ATK, Inc. (US), Lockheed Martin Corporation (US), Thales Alenia Space (France), Airbus Group (Netherlands), and China Academy of Space Technology (China), among others are expected to benefit from technological advancements and cater end users effectively.

Also, recent innovations have enabled the production of low-cost bus systems that are lightweight and have low-vibrations. Advanced electric power generation and energy storage technology has enabled the upgradation of electric power components that are now more efficient due to the use of triple-junction, lightweight solar cells, and high energy lithium-ion batteries. Government organizations and private agencies are also investing to a high extent for the development and manufacture of advanced and efficient buses.

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