Detroit, Aug. 22, 2018 (GLOBE NEWSWIRE) -- Stratview Research announces the launch of a new market research report on Satellite Bus Market by Subsystem Type (Structures & Mechanisms, Thermal Control System, Electric Power System, Attitude Control System, Propulsion, Telemetry Tracking and Command (TT&C), and Flight Software), by Satellite Size Type (Small, Medium, and Large), by Application Type (Earth Observation and Meteorology, Communication, Scientific Research & Exploration, Surveillance & Security, and Mapping & Navigation), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
The Global Satellite Bus Market: Highlights
As per Stratview Research, the global satellite bus market is projected to grow at a healthy CAGR of 5.5% during the forecast period. Increasing deployment of small satellites especially for earth observation-related applications, increasing space exploration missions, technological advancement in systems, increasing space budget of emerging economies, and increasing participation of private space companies are the major factors spurring the growth of the satellite bus market.
Based on the application type, earth observation and meteorology segment is expected to grow at the highest rate in the coming five years, owing to their capability to monitor situations, such as cyclones, storms, floods, fire, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and other such calamities. There has been a high focus on the development of small satellites targeting key areas including earth observation, communication, and networking.
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North America dominates the global satellite bus market, driven by the presence of major spacecraft OEMs and tier players. Europe is are also likely to offer good growth opportunities in the coming years, driven by space investments by ESA and Russia.
Key satellite bus manufacturers are Orbital ATK, Inc., Lockheed Martin Corporation, Thales Alenia Space, Airbus Group, China Academy of Space Technology, Israel Aerospace Industries Ltd, The Boeing Company, Honeywell International Inc., Mitsubishi Electric Corporation, Ball Corporation, Macdonald, Dettwiler and Associates Ltd., and Sierra Nevada Corporation.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences and Oil & Gas.