Small satellites are being used by defense organizations to deploy spy solutions for tracking and monitoring enemy and terrorist activities worldwide. By type, theย small satellite marketย 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.
Theย global small satellite marketย was valued at $3,251.9 million in 2020, and is projected to reach $13,711.7 million by 2030, registering a CAGR of 16.4%.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ- https://www.alliedmarketresearch.com/small-satellite-market/purchase-options
Rise in demand for compact satellites, surge in demand for LEO-based services, and increase in demand for high-resolution imaging services across the globe have boosted the growth of the global small satellite market. However, lack of dedicated small satellite launch vehicles and limitation of small satellites regarding payload accommodation hinder the market growth. On the contrary, rise in demand in the commercial sector for satellite services and surge in demand for satellite data are expected to open new opportunities for the market players in the future.
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.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ- https://www.alliedmarketresearch.com/request-sample/1951
By application, the small satellite market has been segmented into earth observation & remote sensing, satellite communication, science & exploration, mapping & navigation, space observation, and others. In 2020, the earth observation & remote sensing segment dominated the end users segment, owing to rise in the adoption of small satellites by commercial and government space organizations for several applications such as such as urban planning, border mapping, infrastructure security, and homeland security. The adoption of small satellite by telecommunications to fully exploit the potential of the advanced space technology and deliver high-speed connectivity across the world has promoted the growth of the satellite communicationย small satellite industry.
Top Companies:
Key players operating in the small satellite market include Airbus S.A.S., GomSpace, L3Harris Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Planet Labs Inc., Sierra Nevada Corporation, Thales Group, Aerospace Corporation, and The Boeing Company
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/1951
By Type:
MINISATELLITE
MICROSATELLITE
NANOSATELLITE
OTHERS
By Application:
Earth observation & remote sensing
SATELLITE COMMUNICATION
SCIENCE & EXPLORATION
Mapping & navigation
Space observation
Others
๐๐จ๐ง๐ญ๐๐๐ญ:
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