Prospects for the Small Satellite Market — Global Forecast to 2025


Posted June 1, 2021 by AerospaceDefense

The global Small Satellite market size is projected to grow from USD 2.8 billion in 2020 to USD 7.1 billion by 2025, at a CAGR of 20.5% from 2020 to 2025.
 
The report "Small Satellite Market by Mass (Nanosatellite, Microsatellite, Minisatellite, CubeSat), Subsystem (Satellite Bus, Payload, Satellite Antenna, Solar Panels), Application, NGEO Orbit, End User, Frequency, and Region - Global Forecast to 2025" size is projected to grow from USD 2.8 billion in 2020 to USD 7.1 billion by 2025, at a CAGR of 20.5% from 2020 to 2025. The market is driven by various factors, such as the growing demand for LEO-based services, demand for Earth observation imagery and analytics and increasing in number of space exploration missions are the major drivers of small satellite market.

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150947396

COVID-19 Impact on the Global Small Satellite Market

COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect small satellite production and services by 10% globally in 2020. The rapid spread of COVID-19 in Europe, the US & Asia Pacific has led to a significant drop in demand for Small Satellites globally, with a corresponding reduction in revenues for various suppliers, service providers across all markets owing to late delivery, manufacturing shutdown, the limited staff at manufacturing facilities, and limited availability of equipment. As per industry experts, the global Small Satellite demand is anticipated to recover by 2022 fully.

Payload segment is expected to witness the second largest market share during the forecast period

By Subsystem, payload is expected to have the second-largest market share during the forecasted period. contain specific technology for each mission. For example, weather monitoring small satellites have components that can measure wind speed and direction, changes in temperature, the amount of oxygen available, and the effect of UV rays. A different component is used for each application. Payloads cater to applications like communication, Earth observation & remote sensing, mapping & navigation, surveillance & security, meteorology, scientific research & exploration, and space observation.

Earth observation & remote sensing segment is expected to witness the largest market share during the forecast period

The Earth Observation & Remote Sensing is estimated to be the largest and fastest-growing segment in the small satellite market. The growth of this segment can be attributed to compact nature of small satellites led to efficient Earth observation and remote sensing. Small satellites, including nanosatellites, microsatellites, and minisatellites, play an important role in Earth observation and meteorology applications. These satellites are capable of monitoring situations such as the cyclones, storms, El Niño, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and industrial and power plant disasters

The Ku-band segment is projected to witness a higher CAGR during the forecast period

Based on frequency, the Ku-band segment of the small satellite market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed due to the increased need for wider range of data communication. This band is primarily used for mapping. It has a short range and a high-resolution imaging capability. The Ku band is mainly used for satellite communications, especially downlink, used by direct-transmission satellites for satellite television and specific applications, such as the NASA’s Tracking Data Relay Satellite, used for both the space shuttle and communications from the International Space Station (ISS).

The North America market is projected to witness the highest CAGR from 2020 to 2025

North America is projected to be the highest CAGR rate for the small satellite market during the forecast period. North America is a leading region for the adoption of small satellites and provides great opportunities for the growth of the overall market. The region has always been an early adopter of new technologies or software. The demand for small satellites in North America is being driven by the booming digitalization across industries, along with the surging demand for Earth observation satellites, which offer extremely high-resolution Earth images and videos, as close as 1 meter or less, of the Earth’s surface.

Key Market Players

Sierra Nevada Corporation (US), L3 Harris Technologies (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), and Airbus Defense and Space (Netherlands) are some of the leading players operating in the small satellite market report.

Ask for Sample Report @

https://www.marketsandmarkets.com/requestsampleNew.asp?id=150947396



About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By MarketsandMarkets
Country United States
Categories Aerospace , Technology , Telecom
Tags small satellite market
Last Updated June 1, 2021