Small Satellite Market Set for Explosive Growth, Projected to Reach USD 13,711.7 Million by 2030

The global 𝐒𝐦𝐚𝐥𝐥 𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 valued $3,251.9 million in 2020, and is projected to reach $13,711.7 million by 2030, registering a CAGR of 16.4%. 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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/1951

Rise in demand for compact satellites and high-resolution imaging services, and growing inclination toward adopting LEO-based services drive the growth of the small satellite market. On the other hand, limitations of small satellites regarding payload accommodation and lack of dedicated small satellite launch vehicles impede the growth to some extent. However, surge in demand for satellite services in the commercial sector is expected to create lucrative opportunities in the industry.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

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

Small satellites are being used by defense organizations to deploy spy solutions for tracking and monitoring enemy and terrorist activities worldwide. By type, the small satellite market is categorized into minisatellite, microsatellite, nanosatellite, and others. The minisatellite segment accounted for the highest revenue in 2020, owing to the increase in demand for high-speed internet connectivity globally and rise in deployment of satellites by telecommunication companies to increase their reach. Increased demand in defence, homeland security, and other industries for low cost real-time monitoring services that augments national security has promoted the growth of the minisatellite segment.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/e0c5d9950fb294b4dc892b5c36225ea6

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. Conversely, increasing demand in the commercial sector for satellite services and increase in demand for satellite data are expected to provide lucrative opportunities for the expansion of the growth of the small satellite market.

Based on end user, the commercial segment held the highest market share in terms of revenue, accounting for more than two-fifths of the global small satellite market. The same segment is also estimated to exhibit the fastest CAGR of 17.1% during the forecast period, owing to surge in incorporation of space technology by the commercial organizations.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, the market across North America dominated the market with major share in 2020, accounting for more than two-fifths of the global small satellite market, due to rise in adoption of advanced satellite services among the civil, defense, and space industries in the North American region. However, the market across Asia-Pacific is expected to witness the fastest CAGR of 17.2% from 2021 to 2030, owing to increased investment in deploying satellite technologies in countries such as China and India.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1951

Based on type, the minisatellite segment dominated with the largest share in 2020, holding nearly two-fifths of the global small satellite market. This is attributed to surge in demand for direct-to-home satellite broadcasting services across the world. The nanosatellite segment, on the other hand, is expected to cite the fastest CAGR of 17.0% throughout the forecast period. Rise in demand for connectivity solutions for processing real-time data for observation applications such as meteorological, hydrological, and marine, among others propel the segment growth.

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Commercial Satellite Imaging Market - https://www.globenewswire.com/en/news-release/2022/07/05/2473695/0/en/Commercial-Satellite-Imaging-Market-to-Surpass-9-2-Billion-by-2031-Allied-Market-Research.html

Nanosatellite and Microsatellite Market - https://www.prnewswire.com/news-releases/nanosatellite-and-microsatellite-market-to-reach-8-69-billion-globally-by-2030-at-14-9-cagr-allied-market-research-301474824.html

Aircraft Manufacturing Market - https://www.globenewswire.com/news-release/2023/04/14/2647226/0/en/Aircraft-Manufacturing-Market-to-Garner-476-4-Billion-by-2031-Allied-Market-Research.html

Aircraft Electrification Market - https://www.globenewswire.com/en/news-release/2023/05/05/2662272/0/en/Aircraft-Electrification-Market-Predicted-to-Reach-21-8-Billion-Globally-by-2032-at-13-5-CAGR-Allied-Market-Research.html

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