The report “ Small Satellite Market by Type (Nanosatellite, Microsatellite, Minisatellite), End User (Civil, Defense, Commercial), Application (Earth Observation & Meteorology, Communications, Scientific Research & Exploration), and Region – Global Forecast to 2022″ , The small satellite market is estimated to grow from $ 2.92 trillion in 2017 to $ 7.53 trillion by 2022, at a CAGR of 20.83% during the forecast period.
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Key factors are looking at how to increase the cost of ownership of the small satellite market.
Boeing (US), Airbus Defense and Space (France), OneWeb (US), Planet Labs (US), Space Exploration Technologies Corporation (US), Sierra Nevada Corporation (US), and Surrey Satellite Technology (UK), among others, are the major players in the small satellite market.
Based on type, the minisatellite segment is expected to lead the small satellite market during the forecast period
Based on type, the minisatellite segment is used in the forecasting period, as well as in space disaster management, military intelligence, telecommunications, and other academic purposes.
The earth observation & meteorology segment is estimated to lead the small satellite market during the forecast period
Based on application, the earth observation & meteorology segment is estimated to lead the small satellite market during the forecast period. Small satellites are capable of monitoring natural or manmade disasters, such as cyclones, earthquakes, landslides, and environmental pollution, among others. Small satellites have computational and communication capabilities, along with competencies in taking decisions.
North America is projected to account for the largest share of the small satellite market in 2017
North America is looking to lead the small satellite market in 2017. Increasing interest in small satellites due to their low cost, advanced mechanics, and ease of assemble and launch has led to a rise in venture capital-backed funding for small satellites in the region , The small satellite market in the North American region is expected to witness high growth during the forecast period.
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