Small Satellite Market Growing at a CAGR of 20.83% During 2017 to 2022 - ReportsnReports.com
PUNE, India, June 7, 2017 /PRNewswire/ --
Small satellite market is estimated to be $2.92billion in 2017 and will reach $7.53 billion by 2022, at a CAGR of 20.83%. Based on type, mini satellite segment and Based on end user, the commercial segment is expected to lead the market while North America account for the largest share
Browse 68 tables and 41 figures, 19 Company profiles spread across 163 pages available at http://www.reportsnreports.com/reports/538030-small-satellite-market-by-type-nano-mini-microsatellite-by-application-earth-observation-meteorology-scientific-research-exploration-surveillance-security-and-others-by-end-user-by-geography-global-forecast-to-2021.html .
"Satellite miniaturization, and decline in development as well as launching cost are expected to drive the small satellite market"
The small satellite market is estimated to be USD 2.92billion in 2017 and is projected to reach USD 7.53 billion by 2022, at a CAGR of 20.83% during the forecast period. Key factors such as proposed development of satellite networks to provide internet access to areas without broadband connectivity and satellite miniaturization are expected to fuel the growth of the small satellite market. However, factors such as lack of dedicated launch vehicles and design-related limitations may act as restraints for growth of the small satellite market.
"Based on type, the mini satellite segment is expected to lead the small satellite market while the nano satellite segment is projected to grow at the highest rate during the forecast period"
Based on type, the mini satellite segment is estimated to lead the small satellite market during the forecast period. These satellites are used in various applications such as telecommunication, earth observation & meteorology, scientific research & exploration, mapping & navigation, and surveillance & security. The nano satellite segment is projected to witness the highest growth. Low mission cost of nano satellites has led to the adoption of these small satellites in the defense sector.
"Based on end user, the commercial segment is expected to lead the small satellite market during the forecast period"
Based on end user, the commercial segment is estimated to lead the small satellite market during the forecast period, followed by the civic segment. Small satellites help commercial companies to gather global real-time data and distribute it at a surprisingly low price to their customers across a wide geographic area. Furthermore, advancements in terrestrial computing and the satellites ability to communicate with one another have helped to enhance small satellites' usefulness in scientific research.
"North America is estimated to account for the largest share of the small satellite market in 2017"
North America led the small satellite market in 2016. The rising demand for small satellites in the defense sector is due to their use for surveillance activities, which ensures continued access to real-time data. The small satellite market in North America is expected to account for largest market share in 2017.
Break-up of profiles of primary participants in this report:
- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C Level - 35%, Director Level - 25%, Others - 40%
- By Region: North America - 45%, Europe - 20%, Asia-Pacific - 30%, RoW - 5%
Key players profiled in the small satellite market report include Sierra Nevada Corporation (U.S.), Planet Labs (U.S.), Surrey Satellite Technology Ltd. (U.K.), Space Exploration Technologies Corporation (U.S.), Airbus Defense and Space (France), and Singapore Technologies Engineering Limited (Singapore), among others.
Order a copy of 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 Research Report at http://www.reportsnreports.com/purchase.aspx?name=538030 .
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