Small Satellite Market Scenario
Increasing focus on reducing mission cost coupled with huge investments by venture companies in the small satellite market are some of the major factors propelling the small satellite market globally. Furthermore, satellite miniaturization is also one of the factor propelling the growth of small satellite market. However, programmatic and scientific risks involved in the production of small satellites is one of the major factor expected to hamper the global growth of the market.
Small Satellite Market Segmentation
The Small satellite Market is segmented by Type, Subsystem, Application, End User and Geography. The Type studied in the Small satellite Market are Nanosatellite, Microsatellite and Minisatellite. Furthermore, the Subsystem segment comprises of Structures, Payloads, Solar Panels & Antenna Systems, Electrical Power Systems (EPS), Command & Data Handling (C&DH), Attitude Determination & Control Systems, Propulsion Systems and Others. Likewise, various Application of this market are Earth Observation & Meteorology, Communication, Scientific Research & Exploration, Surveillance & Security and Mapping & Navigation. Moreover, small satellite are used in major End Users such as Civil, Commercial and Defence. Based on Geography, the Small Satellite Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW.
Small Satellite Market by Geography
Based on geography, the small satellite market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW. Among all the regions, the North America is anticipated to grow at a fastest CAGR during the forecast period. Increasing participation of private players in small satellite development and rising demand for small satellites for use in earth observation related applications.
Small Satellite Market Key Players
Some of the major players operating in the global small satellite market includes Geooptics Inc., Harris Corporation, Lockheed Martin Corporation, Millennium Space Systems Inc., OHB AG, Oneweb LTD., Airbus Defense and Space, Boeing, Northrop Grumman Corporation, Planet Labs Inc., Sierra Nevada Corporation, Singapore Technologies Engineering Limited, Space Exploration Technologies Corp. (Space X), Surrey Satellite Technology LTD. and Thales Alenia Space. These players focus on inorganic strategies such as acquisitions, partnerships, agreements, and collaborations as well as organic strategies such as expansions and product launches & approvals to sustain their positions in the market.
Small Satellite Market Report Key Benefits