DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "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" report to their offering.
Satellite miniaturization and decline in development as well as launching costs are expected to drive the small satellite market.
The small satellite market is estimated to be USD 2.92 billion 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 minisatellite segment is expected to lead the small satellite market while the nanosatellite segment is projected to grow at the highest rate during the forecast period.
Based on type, the minisatellite 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 nanosatellite segment is projected to witness the highest growth. Low mission cost of nanosatellites 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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Small Satellite Market, By Type
8 Small Satellite Market, By Application
9 Small Satellite Market, By End User
10 Small Satellite Market, By Region
11 Competitive Landscape
12 Company Profiles
- Aerospace Corporation
- Airbus Defense and Space
- Geooptics Inc.
- Harris Corporation
- Lockheed Martin Corporation
- Millennium Space Systems Inc.
- Northrop Grumman Corporation
- OHB AG
- Oneweb Ltd.
- Orbital ATK
- Planet Labs Inc.
- Sierra Nevada Corporation
- Singapore Technologies Engineering Limited
- Space Exploration Technologies Corp. (Space X)
- Space Systems Loral
- Spire Global Inc.
- Surrey Satellite Technology Ltd.
- Thales Alenia Space
For more information about this report visit https://www.researchandmarkets.com/research/79t5c7/small_satellite