DUBLIN, June 27, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Small Satellite Market by Type (Nanosatellite, Microsatellite, Minisatellite), End User (Civil, Defense, Commercial), Application (Earth Observation & Meteorology, Communication, Scientific Research & Exploration) and Region- Global Forecast to 2022" report to their offering.
The small satellite market is projected to grow from USD 2.92 Billion in 2017 to USD 7.53 Billion by 2022, at a CAGR of 20.83% during the forecast period
Factors such as increasing focus on reducing mission costs, satellite miniaturization, and increasing demand for earth observation related applications are expected to fuel the growth of the market.
Based on type, the nanosatellite segment of the small satellite market is projected to grow at the highest rate during the forecast period. Due to their low mass and small size, several satellites can be launched simultaneously from a single vehicle launcher. These satellites are designed for specific tasks, such as communication, earth observation, and space exploration, and together, in a group, perform a mission.
Based on end user, the commercial segment of the small satellite market is projected to grow at the highest CAGR during the forecast period, as there has been an increase in R&D activities to develop advanced small satellites to cater to commercial services, such broadband connectivity.
Based on application, the earth observation & meteorology segment of the small satellite market is projected to grow at the highest CAGR during the forecast period due to increase in demand for technologically advanced small satellites for commercial, defense, and civil use.
North America led the small satellite market in 2016, owing to an increase in demand for small satellites from NASA and the Department of Defense (U.S.), and private sectors, such as research organizations and telecommunication. However, the market in the European region is expected to grow at the highest CAGR during the forecast period due to their high demand to use in battlefield missions, earth observation, and scientific exploration activities performed by various government and private organization.
Factors such as lack of dedicated launch vehicles, scarce intellectual assets, and design related limitations may act as restraints for the growth of the small satellite market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Small Satellite Market, By Type
8 Small Satellite Market, By Application
9 Small Satellite Market, By End User
10 Small Satellite Market, By Region
11 Competitive Landscape
12 Company Profiles
- Aerospace Corporation
- Airbus Defense and Space
- Geooptics Inc.
- Harris Corporation
- Lockheed Martin Corporation
- Millennium Space Systems Inc.
- Northrop Grumman Corporation
- OHB AG
- Oneweb Ltd.
- Orbital ATK
- Planet Labs Inc.
- Sierra Nevada Corporation
- Singapore Technologies Engineering Limited
- Space Exploration Technologies Corp. (Space X)
- Space Systems Loral
- Spire Global Inc.
- Surrey Satellite Technology Ltd.
- Thales Alenia Space
For more information about this report visit https://www.researchandmarkets.com/research/wg6wqw/small_satellite
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SOURCE Research and Markets