Global Small Satellite Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Small Satellite Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global Small Satellite market report has been segmented on the basis of satellite type, application type, end user, and region.
Global Small Satellite Market: Overview
Small satellites are satellites of low mass and size usually under 500 kg.
Global Small Satellite Market: Dynamics
Rising adoption of small satellites in earth observatory for various applications such as weather forecast and agricultural or waste land management is a key factor expected to drive growth of the global market over the forecast period. For instance, in November 2018, the Indian Space Research Organization (ISRO) launched HySIS— the earth observation satellite from its Satish Dhawan Space Center (SDSC) in Sriharikota.
In addition, rising adoption of mobile phones, communication modules, GPS systems, and data-based services, owing to next-generation 4G/LTE networks is another factor expected to further fuel growth of the target market over the forecast period.
Moreover, increasing demand for weather forecasting software such as AccuWeather, The Weather Channel, Yahoo Weather, and Google Weather is another factor expected to propel growth of the global market over the forecast period.
Furthermore, technological advancements in microelectronics and rising adoption of small satellite in commercial sector, owing to its factors such as lower cost, lightweight, and less complexity.
However, technological challenges such as lack of sufficient power storage or room for propulsion system are major factors expected to restrain growth of the global market over the forecast period. In addition, limited product launchers and failure in launches, and design-related issues are some other factors expected to hamper growth of the target market over the forecast period.
Rising demand for small satellites into disaster management, development of Global Navigation Satellite System (GNSS) by various countries, technological advancements in small satellite structure, and increasing demand for cost-effective products are some major factors expected to create potential revenue for the players operating in the target market over the forecast period.
Global Small Satellite Market: Segment Analysis
Among the satellite type segments, the nanosatellites segment is expected to register significant growth in the global market over the forecast period, owing to its features such as operate under harsh environmental conditions and cost-effective.
Among the application type segments, the earth observation segment is expected to register significant growth, owing to increasing adoption of small satellites to monitoring civil engineering projects, majorly in rural or remote areas and increasing imaging services across various industries.
Global Small Satellite Market: Regional Analysis
The market in North America is expected to dominate in the global small satellite market in terms of revenue and is expected to continue its dominance over the forecast period, owing to increasing government and private organization initiatives and investments for development and launch of small satellite across various countries in this region. In addition, presence of major players such as National Aeronautics Space Association (NASA) and Space Exploration Technologies Corp. in this region.
The market in Asia Pacific is expected to register fastest growth in terms of revenue over the forecast period, owing to increasing demand for satellite-based activates and rising opportunities for new business across India, China, Japan, and Singapore in this region.
Global Small Satellite Market Segmentation:
Segmentation by satellite type:
Segmentation by application type:
- Earth Observation
- Scientific Research
- Technology Demonstration
Segmentation by end user:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Harris Corporation
- Airbus Defence and Space SA
- GeoOptics, Inc.
- Lockheed Martin Corporation
- Millennium Space Systems Inc.
- Northrop Grumman Corporation
- OHB SE
- OneWeb LLC
- Sierra Nevada Corporation
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