North America Satellite Bus Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The North America Satellite Bus Market is segmented by Application (Communication, Earth Observation, Navigation, Space Observation, Others), by Satellite Mass (10-100kg, 100-500kg, 500-1000kg, Below 10 Kg, above 1000kg), by Orbit Class (GEO, LEO, MEO) and by End User (Commercial, Military & Government). Market Value in USD is presented. Key Data Points observed include spending on space programs in USD by region; and, the count of satellite launches by satellite launch mass.

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North America Satellite Bus Market Size

North America Satellite Bus Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 12.20 Billion
svg icon Market Size (2029) USD 25.76 Billion
svg icon Largest Share by Orbit Class LEO
svg icon CAGR (2024 - 2029) 16.12 %
svg icon Largest Share by Country United States

Major Players

North America Satellite Bus Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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North America Satellite Bus Market Analysis

The North America Satellite Bus Market size is estimated at USD 12.20 billion in 2024, and is expected to reach USD 25.76 billion by 2029, growing at a CAGR of 16.12% during the forecast period (2024-2029).

12.20 Billion

Market Size in 2024 (USD)

25.76 Billion

Market Size in 2029 (USD)

40.80 %

CAGR (2017-2023)

16.12 %

CAGR (2024-2029)

Largest Market by Satellite Mass

65.83 %

value share, 100-500kg, 2022

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Minisatellites with expanded capacity for enterprise data (retail and banking), oil, gas, and mining, and governments in developed countries pose high demand. The demand for minisatellites with a LEO is increasing due to their expanded capacity.

Largest Market by Application

78.69 %

value share, Communication, 2022

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Governments, space agencies, defense agencies, private defense contractors, and private space industry players are emphasizing the enhancement of the communication network capabilities for various public and military reconnaissance applications.

Largest Market by Orbit Class

72.49 %

value share, LEO, 2022

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LEO satellites are increasingly being adopted in modern communication technologies. These satellites serve an important role in Earth observation applications.

Largest Market by End User

69.05 %

value share, Commercial, 2022

Increasing usage of small satellites for telecommunication services generates the need to deploy advanced communication satellites for commercial purposes thereby the requirement of these satellite buses has become more relevant

Leading Market Player

24 %

market share, Lockheed Martin Corporation, 2022

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Lockheed Martin is the leading player in the North America satellite bus market. It has a strong product portfolio and it's customers include civil and military customers include USAF, the US Navy, DARPA, NASA, and NOAA. This has facilitated the company in capturing the highest share of the market.

Increasing launches of satellites into LEO orbit for various satellite applications is driving the market demand

  • The North American satellite bus market is driven by the increasing demand for satellite-based services, with applications ranging from communication and navigation to remote sensing and scientific research.
  • LEO satellites are in demand for applications such as Earth observation, remote sensing, and scientific research. For LEO satellites, various companies offer a range of bus solutions, including the Boeing 502 Phoenix, the Lockheed Martin LM 400, and the Northrop Grumman GeoStar-3. These buses are designed to support a range of LEO applications. Between 2017 and 2022, approximately 3,021 satellites were launched into LEO.
  • The need for high-capacity data transmission, global coverage, and high-quality broadcasting capabilities drives the demand for GEO satellites. For GEO orbit, various companies offer innovative solutions for communication and broadcasting missions, including the Boeing 702, the Lockheed Martin A2100, and the Maxar Technologies 1300-class. These buses are designed to provide long-term, stable service for satellite-based services. Between 2017 and 2022, approximately 33 satellites were launched into GEO.
  • MEO satellites are used for applications such as communication and navigation. The demand for MEO satellites is driven by the need for high-capacity data transmission, improved navigation capabilities, and advanced imaging technologies. Companies like Airbus, The Boeing Company, and Lockheed Martin offer advanced solutions for communication and navigation missions, including the Airbus Eurostar Neo, the Boeing 702MP, and the Lockheed Martin LM 2100. Between 2017 and 2022, approximately seven satellites were launched into MEO. With such developments, the overall market is expected to grow by 17% during 2023-2029.
North America Satellite Bus Market

North America Satellite Bus Market Trends

The trend for better fuel and operational efficiency has been witnessed

  • A satellite bus (or spacecraft bus) is the main body and structural component of a satellite or spacecraft, in which the payload and all scientific instruments are held. Moreover, the growing utilization of commercial satellite platforms for dual (military and civil) purposes has boosted the satellite bus market. Satellite communications are envisioned to be an essential part of the 5G infrastructure. In order to provide seamless connectivity between terrestrial and satellite, the satellite transport conduit is being integrated into the overall communication map. This will result in new opportunities for extending satellite services in urban and rural areas.
  • China is investing significant resources toward augmenting its space-based capabilities. The country has launched the largest number of nano and microsatellites in Asia-Pacific. In April 2022, Chinese startup SpaceWish’s nanosatellite was launched into LEO boarding CZ-2C (3) rocket. XINGYUAN-2 is a 6U remote sensing CubeSat that weighs approximately 7.5 kg.
  • In addition, the indigenous development of nano and microsatellites has been one of the areas of emphasis for the industry in India. Many startups and universities are developing these satellites at various levels in the country. For instance, in December 2018, Exseed Space launched a nanosatellite named ExseedSAT 1 to provide vital communication for radio amateurs. This was India’s first privately owned satellite into space. Countries like Australia, Malaysia, South Korea, and Singapore are also investing in the development of nano and microsatellites.
North America Satellite Bus Market

The increasing space expenditures of different space agencies are expected to impact the satellite industry positively

  • Government's spending on space programs in North America hit approximately around 20 billion in 2021. The region is the epicenter of space innovation and research, with the presence of the world's biggest space agency, NASA. Since, the major investments in this field attracts various other sub system and component manufacturers and creates opportunities for them.
  • In the region, in 2022, the US government spent nearly USD 24 billion on its space programs, making it the highest spender on space in the world. Apart from the United States, the Canadian space sector adds USD 2.3 billion to the Canadian GDP and employs 10,000 people, according to the Canadian government. The government reports that 90% of Canadian space firms are small- and medium-sized businesses. The Canadian Space Agency (CSA) budget is modest, and the estimated budgetary spending for 2022-23 was USD 329 million.
  • In terms of research and investment grant, the region's governments and the private sector have dedicated funds for research and innovation in the space sector. Agencies spend available budgetary resources by making financial promises called obligations. For instance, till February 2023, the National Aeronautics and Space Administration (NASA) distributed USD 333 million as research grants.
North America Satellite Bus Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • The increased importance of satellite miniaturization has aided the growth

North America Satellite Bus Industry Overview

The North America Satellite Bus Market is fairly consolidated, with the top five companies occupying 71%. The major players in this market are Airbus SE, Honeywell International Inc., Lockheed Martin Corporation, Northrop Grumman Corporation and Thales (sorted alphabetically).

North America Satellite Bus Market Leaders

  1. Airbus SE

  2. Honeywell International Inc.

  3. Lockheed Martin Corporation

  4. Northrop Grumman Corporation

  5. Thales

North America Satellite Bus Market Concentration

Other important companies include Ball Corporation, Nano Avionics, NEC, Sierra Nevada Corporation.

*Disclaimer: Major Players sorted in alphabetical order.

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North America Satellite Bus Market News

  • October 2020: NanoAvionics expanded its presence in the United Kingdom by beginning operations at its new facility in Basingstoke for satellite assembly, integration, and testing (AIT), as well as sales, technical support, and R&D activities.
  • August 2020: SNC introduced two new satellite platforms to its spacecraft offerings, the SN-200M satellite bus, designed for medium Earth orbit (MEO), and SN-1000.
  • July 2020: SNC was awarded a contract by the Defense Innovation Unit (DIU) for repurposing its Shooting Star transport vehicle to an Unmanned Orbital Outpost, a scalable and autonomous space.

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We offer a comprehensive set of global and local metrics that illustrate the fundamentals of the satellites industry. Clients can access in-depth market analysis of various satellites and launch vehicles through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on satellite launches, satellite mass, application of satellites, spending on space programs, propulsion systems, end users, etc., are available in the form of comprehensive reports as well as excel based data worksheets.

North America Satellite Bus Market
North America Satellite Bus Market
North America Satellite Bus Market
North America Satellite Bus Market

North America Satellite Bus Market Report - Table of Contents

1. EXECUTIVE SUMMARY & KEY FINDINGS

2. REPORT OFFERS

3. INTRODUCTION

  • 3.1 Study Assumptions & Market Definition
  • 3.2 Scope of the Study
  • 3.3 Research Methodology

4. KEY INDUSTRY TRENDS

  • 4.1 Satellite Miniaturization
  • 4.2 Satellite Mass
  • 4.3 Spending On Space Programs
  • 4.4 Regulatory Framework
    • 4.4.1 Canada
    • 4.4.2 United States
  • 4.5 Value Chain & Distribution Channel Analysis

5. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

  • 5.1 Application
    • 5.1.1 Communication
    • 5.1.2 Earth Observation
    • 5.1.3 Navigation
    • 5.1.4 Space Observation
    • 5.1.5 Others
  • 5.2 Satellite Mass
    • 5.2.1 10-100kg
    • 5.2.2 100-500kg
    • 5.2.3 500-1000kg
    • 5.2.4 Below 10 Kg
    • 5.2.5 above 1000kg
  • 5.3 Orbit Class
    • 5.3.1 GEO
    • 5.3.2 LEO
    • 5.3.3 MEO
  • 5.4 End User
    • 5.4.1 Commercial
    • 5.4.2 Military & Government
    • 5.4.3 Other

6. COMPETITIVE LANDSCAPE

  • 6.1 Key Strategic Moves
  • 6.2 Market Share Analysis
  • 6.3 Company Landscape
  • 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
    • 6.4.1 Airbus SE
    • 6.4.2 Ball Corporation
    • 6.4.3 Honeywell International Inc.
    • 6.4.4 Lockheed Martin Corporation
    • 6.4.5 Nano Avionics
    • 6.4.6 NEC
    • 6.4.7 Northrop Grumman Corporation
    • 6.4.8 Sierra Nevada Corporation
    • 6.4.9 Thales

7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS

8. APPENDIX

  • 8.1 Global Overview
    • 8.1.1 Overview
    • 8.1.2 Porter's Five Forces Framework
    • 8.1.3 Global Value Chain Analysis
    • 8.1.4 Market Dynamics (DROs)
  • 8.2 Sources & References
  • 8.3 List of Tables & Figures
  • 8.4 Primary Insights
  • 8.5 Data Pack
  • 8.6 Glossary of Terms
** Subject To Availablity

List of Tables & Figures

  1. Figure 1:  
  2. MINIATURE SATELLITES (BELOW 10KG), NUMBER OF LAUNCHES, NORTH AMERICA, 2017 - 2022
  1. Figure 2:  
  2. SATELLITE MASS (ABOVE 10KG) BY REGION, NUMBER OF SATELLITES LAUNCHED, NORTH AMERICA, 2017 - 2022
  1. Figure 3:  
  2. SPENDING ON SPACE PROGRAMS BY REGION, USD, NORTH AMERICA, 2017 - 2022
  1. Figure 4:  
  2. NORTH AMERICA SATELLITE BUS MARKET, VALUE, USD, 2017 - 2029
  1. Figure 5:  
  2. VALUE OF SATELLITE BUS MARKET BY APPLICATION, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 6:  
  2. VALUE SHARE OF SATELLITE BUS MARKET BY APPLICATION, %, NORTH AMERICA, 2017 VS 2023 VS 2029
  1. Figure 7:  
  2. VALUE OF COMMUNICATION MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 8:  
  2. VALUE OF EARTH OBSERVATION MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 9:  
  2. VALUE OF NAVIGATION MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 10:  
  2. VALUE OF SPACE OBSERVATION MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 11:  
  2. VALUE OF OTHERS MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 12:  
  2. VALUE OF SATELLITE BUS MARKET BY SATELLITE MASS, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 13:  
  2. VALUE SHARE OF SATELLITE BUS MARKET BY SATELLITE MASS, %, NORTH AMERICA, 2017 VS 2023 VS 2029
  1. Figure 14:  
  2. VALUE OF 10-100KG MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 15:  
  2. VALUE OF 100-500KG MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 16:  
  2. VALUE OF 500-1000KG MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 17:  
  2. VALUE OF BELOW 10 KG MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 18:  
  2. VALUE OF ABOVE 1000KG MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 19:  
  2. VALUE OF SATELLITE BUS MARKET BY ORBIT CLASS, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 20:  
  2. VALUE SHARE OF SATELLITE BUS MARKET BY ORBIT CLASS, %, NORTH AMERICA, 2017 VS 2023 VS 2029
  1. Figure 21:  
  2. VALUE OF GEO MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 22:  
  2. VALUE OF LEO MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 23:  
  2. VALUE OF MEO MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 24:  
  2. VALUE OF SATELLITE BUS MARKET BY END USER, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 25:  
  2. VALUE SHARE OF SATELLITE BUS MARKET BY END USER, %, NORTH AMERICA, 2017 VS 2023 VS 2029
  1. Figure 26:  
  2. VALUE OF COMMERCIAL MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 27:  
  2. VALUE OF MILITARY & GOVERNMENT MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 28:  
  2. VALUE OF OTHER MARKET, USD, NORTH AMERICA, 2017 - 2029
  1. Figure 29:  
  2. NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, NORTH AMERICA SATELLITE BUS MARKET, NORTH AMERICA, 2017 - 2029
  1. Figure 30:  
  2. TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, NORTH AMERICA SATELLITE BUS MARKET, NORTH AMERICA, 2017 - 2029
  1. Figure 31:  
  2. MARKET SHARE OF NORTH AMERICA SATELLITE BUS MARKET, %, NORTH AMERICA, 2022

North America Satellite Bus Industry Segmentation

Communication, Earth Observation, Navigation, Space Observation, Others are covered as segments by Application. 10-100kg, 100-500kg, 500-1000kg, Below 10 Kg, above 1000kg are covered as segments by Satellite Mass. GEO, LEO, MEO are covered as segments by Orbit Class. Commercial, Military & Government are covered as segments by End User.

  • The North American satellite bus market is driven by the increasing demand for satellite-based services, with applications ranging from communication and navigation to remote sensing and scientific research.
  • LEO satellites are in demand for applications such as Earth observation, remote sensing, and scientific research. For LEO satellites, various companies offer a range of bus solutions, including the Boeing 502 Phoenix, the Lockheed Martin LM 400, and the Northrop Grumman GeoStar-3. These buses are designed to support a range of LEO applications. Between 2017 and 2022, approximately 3,021 satellites were launched into LEO.
  • The need for high-capacity data transmission, global coverage, and high-quality broadcasting capabilities drives the demand for GEO satellites. For GEO orbit, various companies offer innovative solutions for communication and broadcasting missions, including the Boeing 702, the Lockheed Martin A2100, and the Maxar Technologies 1300-class. These buses are designed to provide long-term, stable service for satellite-based services. Between 2017 and 2022, approximately 33 satellites were launched into GEO.
  • MEO satellites are used for applications such as communication and navigation. The demand for MEO satellites is driven by the need for high-capacity data transmission, improved navigation capabilities, and advanced imaging technologies. Companies like Airbus, The Boeing Company, and Lockheed Martin offer advanced solutions for communication and navigation missions, including the Airbus Eurostar Neo, the Boeing 702MP, and the Lockheed Martin LM 2100. Between 2017 and 2022, approximately seven satellites were launched into MEO. With such developments, the overall market is expected to grow by 17% during 2023-2029.
Application Communication
Earth Observation
Navigation
Space Observation
Others
Satellite Mass 10-100kg
100-500kg
500-1000kg
Below 10 Kg
above 1000kg
Orbit Class GEO
LEO
MEO
End User Commercial
Military & Government
Other
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Market Definition

  • Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
  • End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
  • Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
  • Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
  • Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
  • Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
  • Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
Keyword Definition
Attitude Control The orientation of the satellite relative to the Earth and the sun.
INTELSAT The International Telecommunications Satellite Organization operates a network of satellites for international transmission.
Geostationary Earth Orbit (GEO) Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky.
Low Earth Orbit (LEO) Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface.
Medium Earth Orbit (MEO) MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit.
Very Small Aperture Terminal (VSAT) Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter
CubeSat CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. 
Small Satellite Launch Vehicles (SSLVs) Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage
Space Mining Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects.
Nano Satellites Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms.
Automatic Identification System (AIS) Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures.
Reusable launch vehicles (RLVs) Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle.
Apogee The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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North America Satellite Bus Market Research FAQs

The North America Satellite Bus Market size is expected to reach USD 12.20 billion in 2024 and grow at a CAGR of 16.12% to reach USD 25.76 billion by 2029.

In 2024, the North America Satellite Bus Market size is expected to reach USD 12.20 billion.

Airbus SE, Honeywell International Inc., Lockheed Martin Corporation, Northrop Grumman Corporation and Thales are the major companies operating in the North America Satellite Bus Market.

In the North America Satellite Bus Market, the LEO segment accounts for the largest share by orbit class.

In 2024, United States accounts for the largest share by country in the North America Satellite Bus Market.

In 2023, the North America Satellite Bus Market size was estimated at USD 10.04 billion. The report covers the North America Satellite Bus Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Satellite Bus Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

North America Satellite Bus Industry Report

Statistics for the 2024 North America Satellite Bus market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Satellite Bus analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

North America Satellite Bus Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

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