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Small Satellite Market Expected to be valued at $7.53 Billion by 2022

Author: Sandeep Roy
by Sandeep Roy
Posted: Feb 21, 2019
small satellite

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.

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Target Audience

    • 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.

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Author: Sandeep Roy

Sandeep Roy

India

Member since: Nov 26, 2018
Published articles: 158

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