"Small Satellites": Revolutionizing Space Exploration and Communication

Small Satellites are low-cost alternatives that have allowed commercial enterprises, non-profit groups, and educational institutions to conduct missions in low-Earth orbit. These small satellites make it possible to conduct a variety of scientific investigations and technological demonstrations in orbit at a low cost, in a timely manner, and with relative ease.

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In terms of revenue, North America leads the market, followed by Asia-Pacific, Europe, and LAMEA. Rise in adoption of launch service in telecommunication, defense, and space exploration, and other industries have bolstered the growth of small satellite market in North America. U.S. dominated the small satellite market share in 2020 and is expected to grow at a significant rate during the forecast period. Small satellite are increasingly being used to expedite deployment of telecommunication services in major North American economies.

Top Market Players - 

THE BOEING COMPANY, AIRBUS S.A.S., THALES GROUP, L3HARRIS TECHNOLOGIES, INC, PLANET LABS INC., LOCKHEED MARTIN CORPORATION, SIERRA NEVADA CORPORATION, THE AEROSPACE CORPORATION, NORTHROP GRUMMAN CORPORATION, GOMSPACE

Surge in demand for compact satellites and high-resolution imaging services, and increase in inclination toward incorporating LEO-based services fuel the growth of the small satellite market.

Factors such as increase in increase in demand for compact satellites, rising demand for high-resolution imaging services globally and increasing demand for LEO-based services accelerate the growth of the small satellite market. However, limitations of small satellites regarding payload accommodation and lack of dedicated small satellite launch vehicles hamper the growth of the small satellite market.

Key Findings Of The Study

  • By type, the nanosatellite segment is expected to register a significant growth during the forecast period.
  • By application, the satellite communication segment is anticipated to exhibit significant growth in the near future.
  • By end user, the commercial segment is anticipated to exhibit significant growth in the near future
  • By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.


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