Small Satellite Market estimated to grow at a CAGR of 22.2% in the forecast period (20120-2025)

The report on the Small Satellite Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2020-2025. The report also offer insights into different market segments and other factors affecting the market.

Feb 05, 2021/IndustryNewsGlobal/ Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Small Satellite Market is expected to inflate at a CAGR of 22.2% by the forecast period (2020 – 2025).

Highlights of the Report:

Based on the type, the market is segmented as nanosatellite, microsatellite, and minisatellite. The nanosatellite segment is estimated to register the highest growth during the forecast period. This growth can be attributed to their low mass and small size which enable several satellites to be launched simultaneously from a single vehicle launcher. These satellites are engineered for specific tasks, such as communication, earth observation, and space exploration, and together in a group, serve a mission.

Based on the application type, the market is segmented as earth observation & meteorology, communication, scientific research & exploration, surveillance & security, and mapping & navigation. The earth observation & meteorology segment is expected to depict the highest growth in the coming five years, owing to the rise in demand for technologically progressive small satellites for commercial, defense, and civil use across the globe.

Based on the end-user type, the market is segmented as civil, commercial, and defense. The commercial segment is estimated to portray the highest growth during the forecast period. This unprecedented growth can be attributed to the increase in R&D activities to develop advanced small satellites to cater to the needs of various commercial services, such as broadband connectivity.

In terms of regions, North America dominated the small satellite market in 2018, driven by the increase in demand for small satellites from NASA and the Department of Defense (U.S.), and private sectors, such as other research organizations and telecommunication. Nevertheless, the market in the European region is expected to offer the highest growth during the forecast period. The market is driven by the high demand for small satellites as they are employed in battlefield missions, earth observation, and scientific exploration activities undertaken by various government and private organizations. Asia-Pacific is also expected to offer sizeable growth opportunities during the forecast period.

Key Players of the Market

Some of the major players in the small satellite market are Airbus Defense and Space, Aerospace Corporation, The Boeing Company, Thales Alenia Space, Geooptics Inc., Harris Corporation, Lockheed Martin Corporation, Millennium Space Systems Inc., Northrop Grumman Corporation, and Orbital ATK.

Features of the Report

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. Here are the key features of the report:

• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

Some of the major players in the small satellite market are-

• Airbus Defense and Space
• Aerospace Corporation
• The Boeing Company
• Thales Alenia Space
• Geooptics Inc.
• Harris Corporation
• Lockheed Martin Corporation
• Millennium Space Systems Inc.
• Northrop Grumman Corporation
• Orbital ATK.

Market Scope & Segmentation

Small satellites are also known by the name of smallsats and are mainly under the weight of 180kgs and have the size of a large home kitchen. These small smallsats are further divided into a number of types such as minisatellite that ranges between 100-180 kgs, microsatellite with 10-100 kgs, nanosatellite with 1-10 kgs, picosatellite that are of 0.01-1kgs, and femtosatellite with the weight of 0.001 – 0.01 kgs.

Small satellites can have a number of applications such as earth observation, communication, scientific research, surveillance, and navigation. These can be used in civil, commercial, as well as defense purposes.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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