Global Small Satellite Market Insights

New York City, NY, 23 December, 2019/ 24 Market Reports: It is estimated for the global small satellite market to grow from USD 2.88 billion in 2017 and is estimated to reach USD 7.49 billion by 2022 registering the growth with a CAGR of 20.29% during the forecast period of 2017 to 2022. The small satellite market is been segmented based on type, end-user, application, subsystem, and region.

Nanosatellite segment of the small satellite market to witness the growth at the highest CAGR during the forecast period

During the forecast period, it is estimated for the nanosatellite segment of the small satellite market, based on type to witness the growth at the highest CAGR. With its wide application in commercial, civil, government and military services due to the rapid advancements in miniaturization of the space technology have made nanosatellites economically and potentially more viable during the forecast period. The decline in the cost of such satellites, increasing demand and increase in the number of application areas of small satellites, growth in investments, and superior mission launches are the factors that are expected to influence the growth of the market during the forecast period.

The earth observation & meteorology segment, by type, to witness the highest growth in the market during the forecast period

During the forecast period, based on application, it is estimated for the earth observation & meteorology segment of the small satellite market to witness the growth at the highest CAGR. Successful programs to develop and examine advanced hyper-spectral imaging systems compatible with satellites have enabled earth observation & meteorology missions to generate high-quality complex images.

Higher risk of failure is the restraining factor resulting in the slow-down of the market during the forecast period

Companies speed up the production process without doing a thorough analysis due to the shorter development span and low cost of production of the small satellites resulting in the higher risk of failure. Satellite development needs a thorough understanding of numerical modelling, as well as practical analysis and any flaw in the loop, leads to failure of the launch mission. It becomes extremely important to eliminate the flaws by responding to it as quickly as possible. Failure in responding is likely to result in the slowdown of the market during the forecast period.

Rising demand for small satellites in the defence sector in North America to increase the growth of the market in the region during the forecast period

Due to increasing participation of private players in small satellite development and rising demand for small satellites for use in earth observation related applications is estimated for the North American region, based on geography, to witness the highest growth in the market during the forecast period. The rising demand for small satellites in the defence sector is also high due to their use in surveillance activities, increased demand from NASA and the US Department of Defense, and private sectors, such as research organizations and the telecommunication sector are the factors driving the growth of the market during the forecast period.

The following are the major objectives of the study:

• To define, describe, and forecast the global small satellite market on the basis of product, application and region.
• To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
• To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
• To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
• To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
• To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
• To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global small satellite market.

Critical Questions which the report answers:

• What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
• What are the key revenue generating pockets for global small satellite market and their future potential during next decade?
• How competitive landscape is evolving in global small satellite market?

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