Small Satellite Global Market to Grow from $3.68 Billion to $8.84 Billion by 2027

DUBLIN, Nov. 9, 2022 /PRNewswire/ -- The "Small Satellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to  ResearchAndMarkets.com's offering.

The global small satellite market size reached US$ 3.68 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 8.84 Billion by 2027, exhibiting a CAGR of 15.73% during 2021-2027.

A small satellite, also known as smallsat, refers to a type of low mass and size satellite, usually under 1,200 kg. Based on weight, it is categorized into minisatellite, microsatellite, nanosatellite, picosatellite, and femtosatellite. Small satellites are affordable alternatives that enable commercial enterprises, non-profit groups, and educational institutions to conduct missions in the lower Earth orbit.

They make it possible to perform several scientific investigations and technology demonstrations in orbit at a low cost, with relative ease, and within a stipulated time. As a result, small satellites are extensively utilized for specific applications such as communication and navigation by civil, commercial, military, and government bodies.

Small Satellite Market Trends:

The rising need for remote sensing and Earth observation services across various sectors, including energy, oil & gas, defense, agriculture, etc., is primarily driving the global small satellite market. In addition to this, the widespread utilization of small satellites for communication and navigation owing to the increasing popularity of advanced technologies, such as over-the-top (OTT) services and Internet Protocol Television (IPTV), is also stimulating the global market.

Moreover, the elevating demand for LEO-based small satellites to provide low-cost broadband in developing countries is further propelling the market growth. Apart from this, the introduction of small satellites in the telecom industry has led to the acceleration of 5G deployment globally, besides generating new market opportunities for satellite communication (Satcom) companies. This, in turn, is creating a positive outlook for the global market.

Additionally, the escalating usage of small satellites by research organizations for academic purposes and technological experimentation in space is acting as another significant growth-inducing factor. For instance, NASA's CubeSat initiative offers educational institutions and NGOs a chance to collaborate on upcoming small satellite launches. Furthermore, the rising integration of numerous innovative technologies, such as robotics, artificial intelligence, machine learning, etc., to ensure efficient communications, improve spacecraft reliability, and enhance coordination is expected to augment the global small satellite market over the forecasted period.

Key Market Segmentation:

Breakup by Component:

• Payloads and Structures
• Electric Power System
• Solar Panels and Antenna System
• Propulsion System
• Others

Breakup by Type:

• Mini Satellite
• Micro Satellite
• Nano Satellite
• Others

Breakup by Frequency:

• L-Band
• S-Band
• C-Band
• X-Band
• Ku-Band
• Ka-Band
• Q/V-Band
• HF/VHF/UHF-Band
• Others

Breakup by Application:

• Communication
• Earth Observation and Remote Sensing
• Science and Exploration
• Mapping and Navigation
• Space Observation
• Others

Breakup by End User:

• Commercial
• Academic
• Government and Military
• Others

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Key Questions Answered in This Report:

• How has the global small satellite market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global small satellite market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the frequency?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global small satellite market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Small Satellite Market

6 Market Breakup by Component

7 Market Breakup by Type

8 Market Breakup by Frequency

9 Market Breakup by Application

10 Market Breakup by End User

11 Market Breakup by Region

12 SWOT Analysis

13 Value Chain Analysis

14 Porters Five Forces Analysis

15 Price Analysis

16 Competitive Landscape

Companies Mentioned

• AAC Clyde Space
• Airbus SE
• Ball Corporation
• Blue Canyon Technologies (Raytheon Technologies Corporation)
• Exolaunch Gmbh
• GomSpace
• L3Harris Technologies Inc.
• Lockheed Martin Corporation
• Millennium Space Systems Inc. (The Boeing Company)
• Northrop Grumman Corporation
• Spire Global Inc.
• The Aerospace Corporation.

For more information about this report visit https://www.researchandmarkets.com/r/n9g2r5

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SOURCE Research and Markets