The global satellite bus market was valued at $27.67 billion in 2020. It is expected to grow from $30.08 billion in 2021 to $54.33 billion by 2028, with an annual growth rate of 8.81% during this period. Despite the unprecedented and significant impacts of COVID-19, the demand for satellite buses has increased in all regions. In 2020, the market still grew steadily at a rate of 3.31%. The drop in the annual growth rate is because the market demand and growth are expected to return to normal levels after the pandemic ends.
Informational Source:
https://www.fortunebusinessinsights.com/satellite-bus-market-102608
Companies Covered in Satellite Bus Market are:
A satellite bus is the core structure and framework that supports the various systems and components of a satellite. It provides the essential services required for a satellite to function, such as power generation, attitude control, thermal management, and communication. The satellite bus serves as the backbone, allowing the mission-specific payloads and instruments to be integrated and operated effectively.
Over the past decade, significant advancements have been made in satellite bus technology, driven by the need for more capable, efficient, and flexible platforms to support the growing diversity of satellite applications and missions. This summary will highlight some of the latest unique developments in satellite bus design, systems, and capabilities as of August 2023.