The small satellite market accounted for $3,632.4 million in 2018, and is anticipated to reach $15,686.3 million by 2026, registering a CAGR of 20.1% from 2019 to 2026. Satellites weighing below 500 Kg are known as small satellites.
The small satellite market is anticipated to grow owing to an increase in demand for the small satellite in LEO (Low Earth Orbit) based services. LEO based services include space-based communication, imagery-based intelligence, and situational awareness (SA). Some countries in Asia-Pacific and LAMEA are economically unstable owing to which they are unable to conduct space research programs. This factor is anticipated to hinder the market growth during the forecast period.
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The small satellite market is segmented based on type, application, end-user, and region. Depending on type, the market is categorized into minisatellite, microsatellite, nanosatellite, pico-satellites, and femto satellites. On the basis of application, it is classified into imaging and earth observations, satellite communications, science & explorations, technology development, and space situational awareness. Based on end-user, the market is bifurcated into civil & commercial and government & defense. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
ü The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global small satellite market from 2019 to 2026 to determine the prevailing opportunities.
ü A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
ü The market size is provided in terms of revenue.
ü Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the small satellite industry for strategy building.
ü Profiles of leading players operating in the market are provided to understand the competitive scenario.
ü The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth
KEY MARKET SEGMENTS
• By Type
§ Femto satellites
• By Application
§ Imaging and Earth Observations
§ Satellite Communications
§ Science & Explorations
§ Technology Development
§ Space Situational Awareness
• By End-User
§ Civil & Commercial
§ Government & Defense
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• By Region
o North America
§ United Kingdom
§ Rest of Europe
§ South Korea
§ Rest of Asia-Pacific
§ South Africa
§ Rest of LAMEA
KEY MARKET PLAYERS
• Sierra Nevada Corporation
• Lockheed Martin Corporation
• Airbus S.A.S.
• Northrop Grumman Corporation
• L3Harris Technologies, Inc.
• The Aerospace Corporation
• Planet Labs Inc.
• Thales Group
• Blue Canyon Technologies
The other players in the value chain include of the market includes Orbital ATK, Space Systems Loral, OHB AG, Spire Global Inc., Geooptics Inc., Lockheed Martin Corporation, and others.
This post was originally published on Downey Magazine