South Korea Satellite Bus Market Size & Outlook, 2025-2030
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South Korea satellite bus market highlights
- The South Korea satellite bus market generated a revenue of USD 268.6 million in 2024 and is expected to reach USD 348.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4.4% from 2025 to 2030.
- In terms of segment, medium was the largest revenue generating size in 2024.
- Small is the most lucrative size segment registering the fastest growth during the forecast period.
Satellite bus market data book summary
| Market revenue in 2024 | USD 268.6 million |
| Market revenue in 2030 | USD 348.3 million |
| Growth rate | 4.4% (CAGR from 2025 to 2030) |
| Largest segment | Medium |
| Fastest growing segment | Small |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Large, Medium, Small, Nano |
| Key market players worldwide | Airbus SE, Honeywell International Inc, Lockheed Martin Corp, Northrop Grumman Corp, Thales Group, Ball Corporation, ISRO, Sierra Space, The Boeing Company |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.9% of the global satellite bus market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China satellite bus market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 582.9 million by 2030.
Medium was the largest segment with a revenue share of 71.63% in 2024. Horizon Databook has segmented the South Korea satellite bus market based on large, medium, small, nano covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea’s satellite bus market is evolving rapidly, backed by government initiatives to enhance capabilities in communications, remote sensing, and space exploration. The Korea Aerospace Research Institute (KARI) leads satellite R&D efforts, focusing on domestic production and technology independence.
South Korea is investing in small satellite and satellite constellation development, with plans to bolster national security and expand commercial applications. Also, with the increasing collaboration between the government, private sector, and academic institutions, South Korea is positioning itself as a competitive player in the APAC satellite bus market.
The key trends driving satellite bus adoption in South Korea include the growing use of small satellites for military and commercial purposes and an emphasis on developing independent space technologies.
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Satellite Bus Market Scope
Satellite Bus Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Sierra Space | View profile | 1001-5000 | Louisville, Colorado, United States, North America | https://sierraspace.com |
| Ball Corporation | View profile | 10001+ | Broomfield, Colorado, United States, North America | http://ball.com |
| The Boeing Company | View profile | 10001+ | Arlington, Virginia, United States, North America | http://www.boeing.com |
| ISRO | View profile | 1001-5000 | Bangalore, Karnataka, India, Asia | https://www.isro.gov.in |
| Thales Group | View profile | 10001+ | Paris, Ile-de-France, France, Europe | http://www.thalesgroup.com |
| Northrop Grumman Corp | View profile | 101000 | 2980 Fairview Park Drive, Falls Church, VA, United States, 22042 | https://www.northropgrumman.com |
| Lockheed Martin Corp | View profile | 122000 | 6801 Rockledge Drive, Bethesda, MD, United States, 20817 | https://www.lockheedmartin.com |
| Airbus SE | View profile | 150093 | P.O. Box 32008, Leiden, ZH, Netherlands, 2303 DA | https://www.airbus.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
South Korea satellite bus market size, by size, 2018-2030 (US$M)
South Korea Satellite Bus Market Outlook Share, 2024 & 2030 (US$M)
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