The
report "Small Satellite Market by Type
(Nanosatellite, Microsatellite, Minisatellite), End User (Civil, Defense,
Commercial), Application (Earth Observation & Meteorology, Communication,
Scientific Research & Exploration), and Region - Global Forecast to
2022", The small satellite market is estimated to grow from USD
2.92 Billion in 2017 to USD 7.53 Billion by 2022, at a CAGR of 20.83% during
the forecast period.
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68 market data tables and 41 figures spread through 163 pages and in-depth TOC
on "Small Satellite Market"
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Key factors such as increasing focus on
reducing mission costs, rise in demand for earth observation related
activities, satellite miniaturization, and satellite cost reduction are
expected to fuel the growth of the small satellite market.
Boeing
(U.S.), Airbus Defense and Space (France), OneWeb (U.S.), Planet Labs
(U.S.), Space Exploration Technologies Corporation (U.S.), Sierra Nevada
Corporation (U.S.), and Surrey Satellite Technology (U.K.), among others,
are the major players in the small satellite market.
Based on
type, the minisatellite segment is expected to lead the small satellite market
during the forecast period
Based on type, the minisatellite segment is
estimated to lead the small satellite market during the forecast period, as
these satellites can be used for high precision and complex space missions such
as remote sensing, navigation, maritime and transportation management, space
& earth observations, disaster management, military intelligence, telecommunications,
and other academic purposes.
The earth observation & meteorology
application segment is estimated to lead the small satellite market during the
forecast period
Based on application, the earth observation
& meteorology segment is estimated to lead the small satellite market
during the forecast period. Small satellites are capable of monitoring natural
or manmade disasters, such as cyclones, earthquakes, landslides, and
environmental pollution, among others. Small satellites have computational and
communication capabilities, along with competencies in taking decisions about
which data to be sent and when.
North America is projected to account for the
largest share of the small satellite market in 2017
North America is estimated to lead the small
satellite market in 2017. Increasing interest in small satellites due to their
low cost, advanced mechanics, and ease of assemble and launch has led to a rise
in venture capital-backed funding for small satellites in the region. The small
satellite market in the North American region is expected to witness high
growth during the forecast period.
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