Augment Satellite Services Are Fueling The Growth Of Small Satellite Market

The global small satellite market size is expected to reach USD 9.75 billion, registering a CAGR of 18.99% during the forecast period.

Fortune Business Insights™ has presented this information in an upcoming report titled, “Small Satellite Market Size, Share & COVID-19 Impact Analysis, By Type (Mini, Micro, Nano), Component (Structures, Payload, Electric Power System, Solar Panel and Antennas System, Propulsion System, Others), Application (Communication, Navigation, Earth Observation, Technology Development, Others), End-User (Commercial, Civil, Military, Government), and Regional Forecast, 2020-2027”.

The market size stood at USD 3.07 billion in 2019.According to the report, the compact satellite market is gaining immense popularity due to several reasons.

Disruptions in supply chains, production lines, operations, and existing contracts are stagnating the market growth.

Based on components, the market segments into structures, payloads, electric power systems, solar panel and antenna systems, propulsion systems, etc.

The report contains information gathered through interviews with multiple stakeholders at regional, country, and global levels.

Global Small Satellite Market The GMI Research contemplates that the Small Satellite Market will increase at a notable rate in demand over the forecast period.

This is because of the prevalence of leading market players, increasing investment in the development of satellites by various government bodies, and their mounting demand for domestic and commercial purposes.Request a free sample of this reportIntroduction of the Small Satellite Market Small satellites are economical, smarter, and lighter satellites that can be set up on a rocket along with a larger payload and emancipated from a mobile launcher on the International Space Station (ISS).

They are majorly operated in LEO that is (low-Earth-orbit), elevated from approximately 160 to 2,000 km.Key Players of Market:Sierra Nevada Corporation (SNC)BoeingMillennium Space Systems Inc.Thales Alenia SpaceGeooptics Inc.Harris CorporationSpire GlobalAirbus Defence & SpaceLockheed Martin CorporationOHB AGSmall Satellite Market DynamicsThe factors impelling the growth of the global small satellite market include the aggravating demand for high clarity earth imaging, rising investment in space science, and accelerating number of operations by government authorities.

In addition, the rising demand for small satellites for transmission purposes, soaring requirement for introducing payloads as well as the stimulating execution of committed vehicles for small satellites are proliferating the market growth.

Furthermore, small satellites that have the potential of offering superior observations about the earth are largely used in various sectors such as energy, agriculture, civil engineering, and oil & gas, which is further stimulated small satellite market size.Type Segment DriversOn the basis of type, nanosatellites are predicted to bolster at the highest rate over the coming years.

Besides this, the less rigorous norms, lack of complications in the manufacturing process, and cheaper value are bolstering the small satellite market opportunities.Application Segment DriversBased on the application, Earth Observation & Meteorology is contemplated to capture the highest share due to their raised demand across domestic, civil, and military uses globally.

 Small Satellites are satellites of low mass and size, usually under 500 kg (1,100 lb).

Miniature satellites, especially in large numbers, may be more useful than fewer, larger ones for some purposes for example, gathering of scientific data and radio relay.Global Small Satellite industry shows a high concentration degree due to the high technical barriers.

In terms of geography, North America is the largest production region with a 63.75% global market share in 2018, followed by Europe with 19.12%.The Small Satellite market was valued at 566.1 Million US$ in 2018 and is projected to reach 1958.1 Million US$ by 2025, at a CAGR of 19.0% during the forecast period.

In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Small Satellite.Key Questions Addressed by the ReportWhat is the growth perspective of the Small SatellitesMarket and the key dynamics and trends governing the market?What are key sustainability strategies adopted by the leading players in the Small SatellitesMarket?What are the new and emerging technologies and use cases disrupting the Small Satellitesindustry?What are the key applications where Small Satellitesplays a significant role?Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-small-satellite-2025-564This report presents the worldwide Small Satellite market size (value, production and consumption), splits the breakdown (data status 2014–2019 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.The following manufacturers are covered in this report:Lockheed MartinNorthrop GrumanRaytheonDyneticsSurrey Satellite TechnologyAxelspaceSierra NevadaClyde SpacePlanet LabsDauria AerospaceCASCSmall Satellite Breakdown Data by TypeMicrosatelliteNanosatelliteMicrosatellite takes no more than 30% market share of Small Satellite in 2018.Nanosatellite has over 70% market share of Small Satellite in 2018, and it will hold the larger share in the whole market in the next years.Small Satellite Breakdown Data by ApplicationNational SecurityScience & EnvironmentCommerceOthersNational Security is the main application of Small Satellite in 2018 over 40%, and it will hold the largest share in the next years.The market share of Small Satellite of science and environment in 2018 is above 20%.Commerce has about 25% market share of Small Satellite in 2018.Small Satellite Production by RegionUnited StatesEuropeChinaJapanOther regionsSmall Satellite Consumption by RegionNorth AmericaUnited StatesCanadaMexicoEuropeGermanyFranceUKItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaIndonesiaThailandMalaysiaPhilippinesVietnamCentral & South AmericaBrazilMiddle East & AfricaTurkeyGCC CountriesEgyptSouth AfricaThe study objectives are:To analyze and research the global Small Satellite status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Small Satellite manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.In this study, the years considered to estimate the market size of Small Satellite :History Year: 2014–2018Base Year: 2018Estimated Year: 2019Forecast Year: 2019–2025This report includes the estimation of market size for value (million USD) and volume (Units).

Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.For the data information by region, company, type and application, 2018 is considered as the base year.

However, over the recent years, the utilization of space has also become prominent for civil applications besides the military ones.

In particular, the commercial space sector is observing an increase in the number of satellite start-ups, which are frequently developing disruptive technologies for the space industry, such as small satellites (micro, nano, pico, and femto).

Moreover, increased capability of these satellites to compliment the conventional satellites along with the low manufacturing and launching cost associated with them are some of the major factor driving the adoption of small satellites.

The small satellite market is expected to play out differently for every region or end user, therefore this report segments the market accordingly and breaks down the industry geographically as North America (the U.S. and Canada), Europe (France, the U.K., Poland, Germany, Russia, and Rest-of-Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest-of-APAC), and Rest-of-the-World (Latin America, Middle East and Africa, and others).

Each regional analysis details individual push and pull forces in addition to the key players from that particular region.During the initial years of the development of space technologies, the primary focus of companies had been on developing heavy and large-sized satellites.

However, over recent times, the space industry has witnessed a number of technological advancements which have created substantial demand for small-size satellites as well as cost-effective launch solutions.

Small Satellite market was valued at 1340 Million US$ in 2018 and is projected to reach 6280 Million US$ by 2025, at a CAGR of 21.4% during the forecast period.Small satellites are satellites of low mass and size, usually under 500 kg (1,100 lb).

Miniature satellites, especially in large numbers, may be more useful than fewer, larger ones for some purposes for example, gathering of scientific data and radio relay.

Technical challenges in the construction of small satellites may include the lack of sufficient power storage or of room for a propulsion system.North America led the small satellite market in 2017, owing to an increase in demand for small satellites from NASA and the Department of Defense (U.S.), and private sectors, such as research organizations and telecommunication.

However, the market in the European region is expected to grow at the highest CAGR during the forecast period due to their high demand to use in battlefield missions, earth observation, and scientific exploration activities performed by various government and private organization.

In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Small Satellite.

This report presents the worldwide Small Satellite market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.