The global market for the small satellite is projected to garner a CAGR of 18.07% during the forecast period. The rising investments by various enterprises, the miniaturization of space components, and the increasing earth observation applications, are the factors expected to stimulate the growth of the market.
The rising government expenditure and advancements in technology are the major factors propelling market growth. The increased demands for small satellite from the emerging economies like the Asia Pacific region, offers lucrative opportunities for market growth. Nanosatellite segment witnessed the fastest growth during the forecast period. These satellites are cost effective than the conventional satellite. The imaging and earth observation across the globe is growing at a steadfast pace, owing to the success of satellites used for monitoring and predicting purposes. The increasing capabilities of small satellites have resulted in numerous stakeholders and companies developing various satellite constellations.
The global small satellite market is studied by taking into account the regions of North America, Europe, Asia Pacific, and the Rest of the World. The rising demand for small satellites from NASA, research organizations, and private sectors, have culminated in North America gathering the highest market share.
The increase in the expenditure by both, government and private sectors, have resulted in lucrative growth opportunities for both, the market and the players of the market. Thales Group, Northrop Grumman Corporation, L3harris Technologies, Inc., GomSpace, Boeing, OHB Se, Pumpkin Inc., Lockheed Martin Corporation, Sierra Nevada Corporation, etc. are some of the major players in the market.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments