In 2020, the global satellite bus market was worth $27.67 billion. This is expected to grow to $30.08 billion in 2021 and then reach $54.33 billion by 2028. That represents an average annual growth rate of 8.81% during that forecast period.

North America was the dominant region in this market in 2020, accounting for 40.39% of the global market share.

At the heart of every satellite orbiting the Earth lies the Satellite Bus Market - the core module that provides the essential functions required for a spacecraft to operate successfully in the harsh environment of space. The Satellite Bus Market serves as the backbone, housing and integrating the various subsystems necessary for power, propulsion, attitude control, thermal management, and communications, among other critical capabilities. As space technology has advanced over the decades, Satellite Bus Market design has evolved dramatically to meet the growing demands of modern space missions.

Informational Source:

https://www.fortunebusinessinsights.com/satellite-bus-market-102608

Companies Covered in Satellite Bus Market are:

• Airbus (Netherlands)
• Boeing (U.S.)
• Centum (India)
• Honeywell International Inc. (U.S.)
• IAI (Israel)
• L3Harris Technologies, Inc. (U.S.)
• Lockheed Martin Corporation (U.S.)
• Maxar Technologies (U.S)
• Mitsubishi Electric Corporation (Japan)
• Northrop Grumman (U.S.)
• OHB SE (Germany)
• Thales Group (France)

Understanding the Satellite Bus Market