Satellite Bus Industry Worldwide Analysis | Market Demand, Scope, Future Growth, Key Players Information, Regional Trend and Business Prospect by Forecast to 2025

Market Analysis

Global Satellite Bus Market 2020 could obtain a growth rate of close to 5% between 2019 and 2024 (evaluation period), confirms MRFR (Market Research Future). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

Market to Remain Resilient Despite COVID-19 Impact

Deterred economic growth across countries has been primary challenge posed by COVID-19, limiting governments’ spending on space agencies. The cut in investments has slowed down the expansion rate of the satellite bus industry. As SARS-CoV-2 cases escalate and the lockdown is in full force, production and launch of new satellites has gone down in line with travelling restrictions. Research and development activities for satellite bus have been cut short owing to the novel coronavirus and the resultant travel bans worldwide.

Get Free Sample Copy of “Satellite Bus Industry” @ https://www.marketresearchfuture.com/sample_request/8093

Players Strive for Higher Competitive Edge

Advances in terms of technologies and long-term alliances with OEMs are a few strategies taken up by the renowned players in the market to garner a higher competitive edge. New launches, in terms of satellites and satellite buses will also help propel companies’ market positions in the coming years. For instance, in December 2020, Lockheed Martin completed the development of SBIRS GEO-5, which is the first ever military satellite to use LM 2100, company’s latest satellite bus. Further, SBIRS GEO-6 is projected to be launched in the year 2025, which will also be built on the same satellite bus. LM 2100 satellite bus also forms the basis for several missile-warning satellites that are undergoing development by Lockheed Martin, mostly to replace SBIRS in the future.

Leading Competitors

The top contenders in the Satellite Bus Industry include Ball Corporation (US), Maxar Technologies Ltd (US), Israel Aerospace Industries Ltd (Israel), Thales Group (France), Boeing (US), Lockheed Martin Corporation (US), Airbus SAS (Netherlands), Sierra Nevada Corporation (US), China Aerospace and Technology Corporation (CASC) (China), Northrop Grumman Corporation (US), Mitsubishi Electric Corporation (Japan), Honeywell International Inc. (US), to name a few.

Segmental Analysis

Satellite type, subsystem and application are the top market segments listed in the MRFR study.

Regional Insight

The regional distribution of the global market includes the Middle East & Africa or MEA, Europe, North America, Asia Pacific or APAC, as well as Latin America.

North America Clinches the Top Position

The APAC Market Gears Up for Fastest Growth

It is however the APAC market that will advance at the fastest rate during the assessment period. With the increasing launch of low-cost satellites and frequent innovations in technology, the APAC market will emerge as a strong contender. Moreover, the robust presence of local satellite bus producers, growing spending on small satellite projects, and the surge in start-ups participating in space activities will also bolster the region’s lucrativeness in the ensuing years.

Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/satellite-bus-market-8093

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Tags: Satellite Bus Market Size, Satellite Bus Market Trends, Satellite Bus Market Analysis, Satellite Bus, Satellite Bus market research, Satellite Bus Industry, global Satellite Bus market, Satellite Bus Market forecast, Satellite Bus Market Research Report, Satellite Bus Market See Campaign: https://www.marketresearchfuture.com/reports/satellite-bus-market-8093
Contact Information:
Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune – 411028 Maharashtra, India +1 646 845 9312 Email: sales@marketresearchfuture.com

Tags:
, Reportedtimes, iCN Internal Distribution, Research Newswire, English