DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Small Satellite Market - Opportunities and Forecasts, 2014-2022)" report to their offering.
Small Satellite Market Report, forecasts that the global small satellite market is expected to reach $7,179 million by 2022, registering a CAGR of 19.8% from 2016 to 2022. In 2015, the Earth observation application dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
The global small satellite market is driven by the increase in need to reduce costs related to space missions. Organizations around the world are investing in small satellite market for imaging and communication services. However, lack of dedicated launchers for small satellites and privacy of data related to Earth observation limit the small satellite industry growth. Application of small satellites across diverse sectors such as defense, civil, commercial, and government is expected to present numerous opportunities for market growth.
Among the various types of small satellites, mini-satellites accounted for a major market share in 2015, owing to their widespread application, ease of use, and ability to perform similar functions as medium and large satellites. The mini-satellite market is expected to generate $3,012 million by 2022, registering a CAGR of 17.4%. The nano-satellite market is expected to register a high growth rate due to their low cost, lightweight nature, ease of building and development, and high capability of performing complex computational tasks. CubeSats, which are increasingly being used by academia and research, have supplemented the growth of the small satellite industry.
- Sierra Nevada Corporation
- Lockheed Martin Corporation
- Airbus Defense and Space
- Northrop Grumman Corporation
- Harris Corporation
- Aerospace Corporation
- Planet Labs Inc.
- The Boeing Company
- Surrey Satellite Technology Ltd.
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Small Satellite Market, By Type
Chapter 5 Small Satellite Market, By Application
Chapter 6 Small Satellite Market, By End User
Chapter 7 Small Satellite Market, By Geography
Chapter 8 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/qx4hlt/global_small