Small Satellite Market to Garner Brimming Revenues by 2018 – 2028

Written by XploreMR

Small satellites are becoming more attractive, as they enable missions that
cannot be accomplished by large satellites, such as high temporal and spatial
resolution by gathering data from multiple points, in-orbit inspection of large
satellites, and space missions consisting of a large number of satellites
forming constellations. Small
satellites
enable missions in navigation, communication, remote
sensing, and scientific research for civilian, commercial, and military
purposes. XploreMR in its newly published report assesses the global small
satellites market over a 10 year forecast period – 2018-2028.

Report Overview

This report presents an analysis about the current trends and ongoing
developments in the small satellite market. Small satellites are artificial
satellites with lower weights and smaller sizes, and are becoming more
attractive in recent years due to lower development costs and shorter lead
times as compared to large satellites. In the past few years, space systems and
technologies have become a crucial part of the economic, scientific, and
security capabilities of countries across the world. Various government and
private organizations in the world are now focused on capitalizing on space
systems to improve operational effectiveness, and to enhance homeland security
and digital communication capabilities.

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Scope of the Report

The scope of this market study includes the manufacturing of small
satellite. Satellite-related services in consumer and commercial domains such
as satellite TV and cellular communication, launch vehicle services, and ground
equipment have been excluded from the scope of this market study. The research
methodology of the market study includes extensive primary and secondary
research. Various surveys were conducted with small satellite manufacturers and
industry experts to understand the value chain and critical driving factors of
the small satellite market. Desk research was conducted to identify current
market trends and ongoing developments in the market.

Market Segmentation

The market has been segmented in two broader categories: satellite type and
end user. The satellite type segment is further segmented into mini-satellites,
micro-satellites, nano-satellites, and pico-satellites. Among these, the
nano-satellites segment is expected to grow at a relatively higher CAGR during
the forecast period, owing to an increase in the demand for nano-satellites in
various applications such as earth observation, research & development, and
remote sensing. The nano-satellites segment is also expected to capture a
market share of 43.0% during the forecast period. Among the end user segments,
the commercial segment is expected to grow at a CAGR of 13.9% during the
forecast period, as small satellites are now being increasingly used in several
commercial applications such as air & maritime monitoring, communications,
land use monitoring, agriculture monitoring, and disaster monitoring.

The decrease in the prices of launch services and the increasing need for
surveillance in defense are some of the primary factors which are fuelling the
growth of the small satellite market. North America is expected to hold more
than 50% of the market share in 2018. One of the major reasons for the
dominance of North America is that, most satellite manufacturers are based in
the U.S., and are delivering small satellites to various public and private
organizations across the globe. However, the SEA & others market in the
APAC region is expected to create more potential growth opportunities for the
small satellite market in the coming few years, owing to the increasing demand
for small satellites in India and ASEAN countries.

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The final section of the report focuses on the profiles of leading companies
in the global marketplace for small satellites. The market study also presents
some recommendations for market stockholders. In brief, these recommendations
encourage consultation between small satellite manufacturers, for which
technological advancements should be an agenda issue, and professional bodies
in non-satellite manufacturing sectors, such as media & entertainment and
telecommunication services. All stockholders in the small satellite industry
should work in collaboration and exchange their resources in order to improve
the quality of services that are being offered through small satellites.

 

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