Small Satellite Market Expected to be valued at $7.53 Billion by 2022
Posted: Feb 21, 2019
The Small Satellite Market is estimated to be USD 2.92 Billion in 2017 and is projected to reach USD 7.53 Billion by 2022, at a CAGR of 20.83% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
The ecosystem of the small satellite market comprises defense departments, satellite developers, telecommunication companies, and regulatory authorities, among others. Sierra Nevada Corporation (U.S.), Planet Labs (U.S.) and Surrey Satellite Technology (U.K.), among others, are the major players in the market. They offer advanced technology systems, launch systems, products, and services.
Download Sample Report @
- by Manufacturers
- Original Equipment Manufacturers
- Sub-component Manufacturers
- Technology Support Providers
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 this 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 this market during the forecast period. Small satellites are capable of monitoring natural or man made 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.
Speak to Analyst @
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.