Satellite miniaturization and increasing demand for earth observation and satellite broadband services are expected to drive the small satellite services market during the forecast period
The small satellite services market is estimated at USD 14.88 billion in 2017and is projected to reach USD 53.22 billion by 2022, at a CAGR of 29.03% during the forecast period. Key factors, such as increasing demand for internet access to areas without broadband connectivity and satellite miniaturization are expected to fuel the growth of the small satellite services market. However, factors, such as lack of dedicated launch vehicles and design-related limitations may act as restraints for the growth of the small satellite services market.
Based on platform, the minisatellite segment is expected to lead the small satellite services market, while the nanosatellite segment is projected to grow at the highest rate during the forecast period
Based on platform, the minisatellite segment is projected to lead the small satellite services market during the forecast period. Minisatellites provide services, such as telecommunication, earth observation & meteorology, scientific research & exploration, mapping & navigation, and surveillance & security. The nanosatellite segment is projected to witness the highest growth. The low mission cost of nanosatellites has led to an increasing demand for these services in the defense sector.
Based on vertical, the commercial segment is expected to lead the small satellite services market during the forecast period
Based on vertical, the commercial segment is projected to lead the small satellite services market during the forecast period, followed by the government & military segment. Small satellites help commercial companies 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 ability of satellites to communicate with one another have helped enhance the usefulness of small satellites in services, such as scientific research.
North America is estimated to account for the largest share of the small satellite services market in 2017
North America led the small satellite services 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 services market in North America is expected to account for the largest market share in 2017.
Break-up of profiles of primary participants in this report:
- By Company Size: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation Level: 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 services market report include Singapore Telecommunications Limited (Singapore), Eutelsat Communications S.A. (France), EchoStar Corporation (US), Inmarsat plc (UK), and Viasat, Inc. (US), among others.
The study segments the small satellite services market on the basis of platform (CubeSat, nanosatellite, microsatellite, and minisatellite), vertical (government & military, non-profit organizations, and commercial), application (communication, remote sensing, science & technology and education, and others), and maps these segments and subsegments across major regions, namely, North America, Europe, Asia Pacific, and RoW. The report provides in-depth market intelligence regarding the market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the small satellite services market, along with analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the small satellite services 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 the competitive landscape, emerging and high growth segments of the small satellite services 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
- Service Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new service launches in the small satellite services market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the market for small satellite services across regions
- Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the small satellite services market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the small satellite services market