The growing number of space missions are expected to foster healthy growth of the market, states Fortune Business Insights, in a report, titled “Satellite Bus Market Size, Share & Industry Analysis, By Size (Small (1-500 kg), Medium (501-2500 kg), Large (>2500 kg)), By Subsystem (Structures and Mechanisms, Thermal Control, Electric Power System(EPS)), By Application (Earth Observation & Meteorology, Communication, Scientific Research & Exploration) and Regional Forecast, 2019-2026.” The growing deployment of satellites is expected to have an excellent influence on the market.
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Rising Advancements in Satellite Systems to Drive Market:-
The growing number of several space exploration missions is expected to bolster the healthy growth of the market. The increasing investments in space-related missions are predicted to create lucrative opportunities for the market. Moreover, the deployment of small satellites in applications such as earth observation is expected to bode well for the market. The up-gradation of satellite bus by companies is predicted to further enhance the market potential in the forthcoming years. For instance, in March 2018, Orbital ATK launched a new version of satellite servicing vehicles. The Mission Robotic Vehicle is a version of the MEV and the Mission Extension Pods is based on Orbital ATK’s ESPASat small satellite bus.
However, the high cost associated with the repair and maintenance of satellite buses is expected to thwart the growth of the market.
The Report Lists the Leading Companies in the Satellite Bus Market:
- Honeywell International Inc. (The U.S.)
- Lockheed Martin Corporation (The U.S.)
- Airbus S.A.S. (France)
- Boeing (The US)
- Thales Group (France)
- IAI (Israel)
- Mitsubishi Electric Corporation (Japan)
- BALL CORPORATION (The U.S.)
- Sierra Nevada Corporation (The U.S.)
- Northrop Grumman Corporation (The U.S.)
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Heavy Investments by Key Players to Stimulate Growth in North America:-
The market in North America is expected to dominate the global market during the forecast period. The growth in the region is attributed to rising investments to enhance the efficiency and capabilities of satellite bus by prominent companies. The presence of eminent players such as Lockheed Martin Corporation, BALL CORPORATION, Boeing, Honeywell International Inc., and others is predicted to boost the growth of the market in North America. Asia Pacific is expected to witness a rapid growth rate during the forecast period owing to the rising development of satellites for space missions in countries such as China and India. Europe is expected to rise tremendously owing to the major corporations such as Airbus S.A.S., Thales Group. The increasing satellite deployment for exploration missions is expected to further aid the development of the market in the rest of the world.
January 2019: Airbus S.A.S. announced that it has signed a contract with the Defense Advanced Research Projects Agency(DARPA)to develop a satellite bus in support of the Blackjack program. The Blackjack program is an architecture demonstration that intends to show the military utility of global low earth orbit constellations and mesh network of low size, cost, and weight.
The Satellite Bus Industry report contains market revenue, market share, and production of the service providers is also mentioned with accurate data. Moreover, the global market report majorly focuses on the current developments, new possibilities, advancements, as well as dormant traps. Furthermore, the market report offers a complete analysis of the current situation and the advancement possibilities of the market across the globe.
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The report on the satellite bus market highlights:
- Superior insights into the market
- All-inclusive data with redefined analysis
- Latest market developments
- Market Restraints and regional insights
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