“Satellite miniaturization, and decline in development as well as launching cost are expected to drive the small satellite market”
The small satellite market is estimated to be USD 2.92 billion in 2017 and is projected to reach USD 7.53 billion by 2022, at a CAGR of 20.83% during the forecast period. Key factors such as proposed development of satellite networks to provide internet access to areas without broadband connectivity and satellite miniaturization are expected to fuel the growth of the small satellite market. However, factors such as lack of dedicated launch vehicles and design-related limitations may act as restraints for growth of the small satellite market.
“Based on type, the minisatellite segment is expected to lead the small satellite market while the nanosatellite segment is projected to grow at the highest rate during the forecast period”
Based on type, the minisatellite segment is estimated to lead the small satellite market during the forecast period. These satellites are used in various applications such as telecommunication, earth observation & meteorology, scientific research & exploration, mapping & navigation, and surveillance & security. The nanosatellite segment is projected to witness the highest growth. Low mission cost of nanosatellites has led to the adoption of these small satellites in the defense sector.
“Based on end user, the commercial segment is expected to lead the small satellite market during the forecast period”
Based on end user, the commercial segment is estimated to lead the small satellite market during the forecast period, followed by the civic segment. Small satellites help commercial companies to gather global real-time data and distribute it at a surprisingly low price to their customers across a wide geographic area. Furthermore, advancements in terrestrial computing and the satellites ability to communicate with one another have helped to enhance small satellites’ usefulness in scientific research.
“North America is estimated to account for the largest share of the small satellite market in 2017”
North America led the small satellite market in 2016. The rising demand for small satellites in the defense sector is due to their use for surveillance activities, which ensures continued access to real-time data. The small satellite market in North America is expected to account for largest market share in 2017.
Break-up of profiles of primary participants in this report:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C Level – 35%, Director Level – 25%, Others – 40%
- By Region: North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Key players profiled in the small satellite market report include Sierra Nevada Corporation (U.S.), Planet Labs (U.S.), Surrey Satellite Technology Ltd. (U.K.), Space Exploration Technologies Corporation (U.S.), Airbus Defense and Space (France), and Singapore Technologies Engineering Limited (Singapore), among others.
The study segments the small satellite market on the basis of type, end user, and application, and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, and RoW. On the basis of type, the small satellite market has been segmented into nanosatellite, microsatellite, and minisatellite. On the basis of end user, the small satellite market has been segmented into civil, defense, and commercial. Based on application, the small satellite market has been segmented into earth observation & meteorology, communication, surveillance & security, scientific research & exploration, and mapping & navigation. The report provides in-depth market intelligence regarding market dynamics and major factors such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the small satellite market, along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the small satellite market.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analyses ? industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high growth segments of the small satellite market, high growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on small satellite offerings by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the small satellite market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the market for small satellite across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the small satellite market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the small satellite market