Global Satellite Bus Market Research By Application Technology Growth With Size, Share, Analysis, Trend 2024


Posted April 15, 2020 by nita01

The global satellite bus market has been segmented based on satellite type, subsystem, application, and region.
 
Market Highlights
The growth of the global satellite bus market can be attributed to the increasing adoption of CubeSats as they are equipped with the potential of automated data gathering, warning systems, and enhanced imaging capabilities. These functions assist scientists in performing space exploration and earth monitoring activities with precision and safety. Furthermore, increasing investments by various governments in space projects are propelling market growth. However, the rigid design structure of satellite buses is expected to hamper the market growth as the new players, planning to enter the satellite bus market, do not possess the required technology for manufacturing the specific satellites.
The global satellite bus market has been segmented based on satellite type, subsystem, application, and region.
On the basis of satellite type, the global satellite bus market has been divided into small satellite, medium satellite, and large satellite. The small satellite segment is expected to account for the largest market share and register the highest CAGR during the forecast period of 2019 to 2024. Small satellites include types of satellites such as nanosatellites, microsatellite, and minisatellites. The growing adoption of nanosatellites is driving the growth of the small satellite segment. Nanosatellites weigh less than 1.33 kgs per unit and assist in various activities, such as space research and earth observation. These lightweight satellites offer various benefits such as easy construction of satellites and cost-effectiveness.
Based on region, the global satellite bus market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The North American market accounted for the largest market share in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Increasing adoption of satellites for offering enhanced network connectivity to consumers in rural areas is driving the market growth in the region. For example, in January 2019, China launched the Chang'e 4, a satellite that assists in offering Internet connectivity in rural areas.
Access Report Details @ https://www.marketresearchfuture.com/reports/satellite-bus-market-8093
Key Players
The key players in the global satellite bus market are Airbus SAS (Netherlands), Ball Corporation (US), China Aerospace and Technology Corporation (CASC) (China), Israel Aerospace Industries Ltd (Israel), Boeing (US), Honeywell International Inc. (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Mitsubishi Electric Corporation (Japan), Maxar Technologies Ltd (US), Sierra Nevada Corporation (US), and Thales Group (France).
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Last Updated April 15, 2020