BLOOMINGTON, Minnesota, December 22, 2017 /PRNewswire/ --
According to a market intelligence report by BIS Research titled "Global Small Satellites Market, Analysis & Forecast, 2017-2021", the global market is expected to reach $10.10 billion by 2021, growing at a CAGR of 31.9% during the forecast period, 2017 - 2021. In the recent years, small satellites have gained traction owing to the significant mass reduction in the subsystems and components along with higher cost-efficiency. The interest in small satellites has increased significantly during the last few years. Over the past decade, nearly $2.5 billion has been invested in small satellites, of which half of the amount was generated in the last two to three years.
Browse 21 Market Data Tables and 125 Figures spread through 266 Pages and in-depth TOC on "Global Small Satellites Market"
The evolution of small satellites has considerably reduced the cost of space mission for end users, such as academic and commercial, which do not require high-end satellite capabilities. This cost reduction is due to the alterations in the construction process, which is essentially an amalgamation of traditional components with technological innovations. The space industry is undergoing a transformational evolution, thus making space industry accessible and affordable for small businesses and everyday individuals as the potential participants. The benefits of utilizing small satellites over the conventional ones are also responsible for the emergence of multiple space industry segments.
The small satellites market has witnessed a high growth rate owing to the advancements in satellite miniaturization, increasing capability of electronic technology, ascending demand for small satellite constellations, and an increase in the deployment of small satellites for commercial end users. Recent innovations in satellite equipment and services enable the small satellite technology to reach a wider segment of consumers in the industry. However, developing safe, low-cost, and small payload satellite to launch beyond low-earth orbit, clean-up and removal of space debris, act as the major challenges for the market. Companies are developing emerging technologies such as 3D printed electronic components, on-board internet system, and electronic propulsion system, among others, which are expected to increase the competition in the near future as well as facilitate the utilization of small satellites as the primary satellite for space missions. Furthermore, the satellites market is replete with technological developments in satellite subsystems, such as propulsion system, on-board computer, payloads, power system, and structure, among others, to facilitate a significant reduction in size and mass of satellites.
Increasing market penetration of small satellites into disaster management - an emerging small satellite application, nations developing their own Global Navigation Satellite System (GNSS), advancements in small satellite structure, and rise in the requirement of low cost launching sites for small launch vehicles are the major factors which are expected to create lucrative opportunities for the market in the next five years. Currently, the satellite industry is witnessing a rapid growth in the number of constellations consisting of hundreds of small satellites that will be used for applications such as earth observation and telecommunications.
With drastic rise in the utilization of small satellites, various end users, including academic, commercial, government, defense, and non-profit organization, are investing in the market to generate greater revenues. Furthermore, government is the biggest end-user of the market, utilizing and availing benefits of small satellites.
According to Ayushi Bajpai, analyst at BIS Research, "From growth prospect, Asia-Pacific is expected to witness a higher growth rate of 32.9% in the market, owing to heavy investment by the companies in the emerging nations of this region, such as China and India. Furthermore, the demand for small satellites in the region is mainly driven by the dynamic approaches of the key players in the region towards risk management, such as natural catastrophes, cyber risk, natural resource management, and crop management."
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The report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by types, including femtosatellite, picosatellite, nanosatellite, microsatellite, and minisatellite; subsystems, including payload, structure, telecommunication, on-board computer, power system, attitude control system, and propulsion system; and end users, namely: academic, commercial (agriculture, IT & telecommunication, oil & gas, and mining), government, defense, and non-profit organizations. The report also includes a comprehensive section on the geographical analysis including North America, Europe, Asia-Pacific, and Rest of the World.
This report is a meticulous compilation of research on more than 100 players in the space industry and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles around 15 companies, which are leading small satellite producers, including Ball Corporation, Clyde Space Ltd., Innovative Solutions In Space BV, Interorbital Systems, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, OHB SE, Orbital ATK, Inc., QinetiQ Group PLC, Sitael S.p.A., Space Systems/Loral, LLC, Surrey Satellite Technology Ltd., The Aerospace Corporation, The Boeing Company, and Tyvak Nano-Satellite Systems, Inc., among others. The report also focuses on the emerging start-ups in the small satellites market and provides a snapshot of the strategic developments done by them.
Key questions answered in the report:
- What was the size, in terms of revenue and volume, of the small satellites market in 2016, and what will be the growth rate during the forecast period, 2017-2021?
- What is the market size of different types of small satellites, including femto, pico, nano, micro, and mini?
- What was the market value of different subsystems of small satellites in 2016? What are the technological advancements and opportunities for the stakeholders for different subsystems?
- What is the is the market analysis of end users of small satellites such as academic, government, defense, non-profit organization, and commercial, including IT & telecommunication, agriculture, oil & gas, and mining?
- What is the market analysis of end users of small satellites, on the basis of different applications, including communication, Intelligence, Surveillance, & Reconnaissance (ISR), earth observation & remote sensing, academic research & space exploration, navigation, and technology demonstration?
- What is the market size of small satellites on the basis of different geographical regions and the respective leading nations? Furthermore, what is the market size of different end users of small satellites operating in these regions?
- What are the key trends and opportunities in the small satellites market, across different regions and respective countries?
- What are the major driving forces that are expected to increase the demand for small satellites during the forecast period?
- What are the major challenges inhibiting the growth of the global small satellites market?
- What kind of new strategies are being adopted by the existing market players to make a mark in the small satellite industry?
- What is the competitive strength of the key players in the small satellites market by analyzing through competitive benchmarking model?
- How attractive is the market for different stakeholders present in the market by analyzing through Porter's Five Forces model?
- The report also provides industry insights through patent analysis, value chain model, product and pricing analysis as well as details about the emerging companies (startups) in small satellites market
- Additionally, detailed analysis and profiling of key market players have been covered in the report. Furthermore, company profile section covers the business financials, company snapshots, key products & services, major developments, SWOT analysis and future programs (if any) of 15 leading players in the market.
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials & Chemicals, Aerospace and Defence, Automotive, Healthcare, Electronics & Semiconductors, Robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data, but also complement it with valuable insights and actionable inputs for the success of our clients.
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