Small Satellite Market 2019-2022: Key Companies Analysis with Market Opportunities
Global small satellite market is expected to reach $7,179 million by 2022, registering a CAGR of 19.8% from 2016 to 2022. The market is driven by the increase in need to reduce costs related to space missions. Organizations around the world are investing in small satellite market for imaging and communication services.
However, lack of dedicated launchers for small satellites and privacy of data related to Earth observation limit the small satellite industry growth. Application of small satellites across diverse sectors such as defense, civil, commercial, and government is expected to present numerous opportunities for market growth.
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The well-known companies ruling the market are Sierra Nevada Corporation, Lockheed Martin Corporation, Airbus Defense and Space, Northrop Grumman Corporation, Harris Corporation, Aerospace Corporation, Planet Labs Inc., The Boeing Company, Thales Alenia Space, and Surrey Satellite Technology Ltd.
The global small satellite market is segmented into type, application, end user, and geography. Based on type, the market is divided into minisatellites, microsatellites, and nanosatellites. Based on application, it is classified into Earth observation, telecommunication, scientific research & experimentation, and technology demonstration. On the basis of end user, it is categorized into defense, commercial, civil, and government. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America generated the highest revenue in the market in 2015, accounting for $819 million, and is projected to reach $2,643 million by 2022, registering a CAGR of 18.3%. This is due to rise in applications of small satellites in agriculture, real estate, defense, and government sectors in the North American region. Increasing investment in the defense sector, along with technological advancement in telecommunication industry have boosted the small satellite market growth during the forecast period in the region.
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Table of Content
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Small Satellite Market by Type
Chapter 5 Small Satellite Market, By Application
Chapter 6 Small Satellite Market, By End User
Chapter 7: Small Satellite Market, By Geography
Chapter 8: Company Profiles
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