Small Satellite Market Size was Valued at USD 3,632.4 Million in 2018 and Grow at a CAGR of 20.1% by 2018 to 2026| Valuates Reports

BANGALORE, India, Feb. 25, 2020 /PRNewswire/ -- The small satellite market in 2018 was estimated at USD 3,632.4 Million and is expected to reach USD 15,686.3 Million by 2026, posting a 20.1% CAGR from 2018 to 2026.

Due to numerous factors such as increased demand for small satellites for earth observation services in numerous sectors such as agriculture, energy, civil engineering, oil & gas, and others, the small satellite market is expected to grow significantly during the forecast period. 

The small satellite market is segmented into type, application, and end-user to give an in-depth insight into the market. The report provides information about market size & share, key competitors, Industry insights, key regions, current & future trends.

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TRENDS INFLUENCING THE SMALL SATELLITE MARKET SIZE GROWTH

• Rapid developments in space technology miniaturization have made nanosatellites economically and theoretically more feasible for their widespread use in industrial, civilian, governmental, and military applications. It is expected that a decrease in the cost of such satellites, an increase in demand and an increase in the number of application areas of small satellites, a rise in investments and superior mission launches would boost demand for small satellites.
• The increased use of 3D printing and high data rate communication would enable manufacturers to provide market players with new growth opportunities. The factors that are responsible for the growth of the global small satellite market are a rise in commercial applications and a strong focus on reducing production costs and start-up costs.
• Furthermore, the increasing adoption of mobile phones, communication modules, GPS systems, and data-based services due to next-generation 4G / LTE networks is another factor expected to fuel the target market's further growth over the forecast period.

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REGION WISE TRENDS INFLUENCING THE SMALL SATELLITE MARKET SIZE

North America has the highest market share as compared to other regions. This is attributed to the presence of key players in North America and a large number of projects operating in the US and Canada. Small satellite market trends are analyzed for all regions and segments.

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COMPETITIVE LANDSCAPE

Key players are pursuing various strategies for staying competitive in the small satellite industry, such as product launch, acquisition, alliance, partnership, product development, contract, and business expansion. For starters, on August 5, 2019, SpaceX is expected to launch a new SmallSat rideshare system in the next two years, delivering a $2.25 million per flight launch mass of 150 kg.

SMALL SATELLITE MARKET SEGMENTS

By Type

• Minisatellite
• Microsatellite
• Nanosatellite
• Pico-satellites
• Femto satellites

Application

• Imaging and Earth Observations
• Satellite Communications
• Science & Explorations
• Technology Development
• Space Situational Awareness

By End-User

• Civil & Commercial
• Government & Defense

Some of the major players in the market include,

• Sierra Nevada Corporation
• Martin Corporation
• Airbus SAS. 
• Northrop Grumman Corporation
• L3Harris Technologies, Inc.
• The Aerospace Corporation
• Planet Labs, Inc.
• Boeing 
• Thales Group 
• GomSpace 
• Blue Canyon Technologies

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1. Satellite Services Market 

The market size of mobile services was estimated at USD 126.5 Billion in 2018 and is expected to reach USD 144.5 Billion by 2026, showing a CAGR of 2.2 percent from 2019 to 2026.

Providers of satellite services provide satellite bandwidth to end-users such as DTH providers, telecommunications companies, etc. These providers buy the satellite operators ' capacity to resell voice, broadcast, and data circuits to several end-user industries.

The report provides a thorough analysis of the forecast along with current and future developments in demand for satellite services. This report highlights the key market dynamics, opportunities, and constraints along with impact analysis over the forecast period.

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2. LEO Satellite Market

Global LEO Satellite market size will reach 7640 Million USD by 2025, from 2130 Million USD in 2018, at a CAGR of 20.0% during the forecast period

A low earth orbit (LEO) satellite is an entity that circles around the earth at lower altitudes than geosynchronous satellites. LEO satellites are widely used for communications, military reconnaissance, spying, and other applications for imaging. 

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3. Commercial Satellite Imaging Market

In 2018, the global market for commercial satellite imagery was valued at USD 2,240.0 Million and was expected to reach USD 5,256.4 Million by 2026, recording a CAGR of 11.2% between 2019 and 2026. 

The growth of the global market for commercial satellite imagery is expected to be driven largely by increased reliance on location-based services (LBS).

Satellite imagery deals with collecting pictures of earth or other stars, with the aid of satellite imaging. The use of these images for commercial purposes is known as commercial satellite imagery, which includes various uses such as environmental monitoring & management, energy resource control, border area surveillance, and construction project mapping.

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4. Satellite Bus Market:

The size of the global satellite bus market in 2018 was estimated at USD 12073.56 Million and is expected to grow to USD 19481.56 Million by 2025 at a compound annual growth rate (CAGR) of 7.07 percent.

The global satellite bus market is highly competitive and features a large number of international and regional players in the marketplace. The market has witnessed increased competition between vendors based on the pricing model, differentiation of technology, brand name, service quality, product differentiation, and technical expertise.

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5. Satellite Market

Within developed economies, the global satellite market is driven by increased demand for direct-to-home (DTH) television, high-definition TV conversion, and intercontinental transmission. 

Additionally, continued growth in video broadcasting and internet access, increased demand for digital television, and growth in the market for communication and broadcasting drive market growth. 

The study provides a thorough analysis of the global satellite industry and existing & future developments to elucidate the imminent pockets of investment. Information is provided on key drivers, restraints, and opportunities.

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6. Geosynchronous Equatorial Orbit (GEO) Satellite Market:

This report presents the worldwide size of the GEO satellite market (value, production, and consumption), splits the breakdown by manufacturers, region, type, and application (data status 2013-2018 and forecast to 2025). This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and barriers to entry, sales channels, distributors, and Porter's Five Forces Analysis.

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7. Low Cost Satellite Market

Low-cost satellites are satellites that have significantly lower life-cycle costs than the average costs of similar satellites. The global research group that cannot be quantitatively identified as a low-cost satellite but can be contrasted with the low-cost category of satellite projects based on the statistical statistics analysis system.

This study focuses on the global status of low-cost satellites, future projections, opportunities for growth, key market, and key players. The purpose of the analysis is to address the development of low-cost satellites in North America, Europe, China, and Japan.

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