Westford, USA, Nov. 14, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that Small Satellite Market will attain a value of USD 14.54 Billion by 2031, with a CAGR of 11.50% during the forecast period (2024-2031). The growing need for worldwide communication, real-time data, and remote sensing is expected to fuel the global small satellite market's expansion. The satellites carry out scientific investigations, help communications and observe the planet. The demand for small satellite solutions is constantly rising as more and more governments and commercial sectors inject funds into space technology. By supporting scientific research, national defense, and worldwide communication, small satellites promote innovations and sustainable use of outer space activities.
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Browse in-depth TOC on the “Small Satellite Market “
- Pages – 202
- Tables – 65
- Figures – 75
Small Satellite Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $6.09 Billion |
| Estimated Value by 2031 | $14.54 Billion |
| Growth Rate | Poised to grow at a CAGR of 11.50% |
| Forecast Period | 2024-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | End-Use, Application, Mass, Orbit and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing demand for earth observation |
| Key Market Opportunities | Increased government investments in space agencies |
| Key Market Drivers | Rapid advancements in miniaturization of satellite |
Commercial End-Use to Dominate Due to its Rising Demand for Satellite-Based Services
The global small satellite market is dominated by the commercial end-use sector which needs better connectivity and data transfer as demand for satellite services such as broadband and Internet of Things is increasing. Investment in these constellations, which are driven by the demand for small satellite constellations facilitates advancements towards satellite technology and increases its commercial supremacy.
Communication Application is Largest Growing Sub-Segment Due to Increasing Demand for Global Connectivity
In such a way that the communication app is taking the lead in global small satellite market as there is an increasing demand for data services and worldwide connectivity. This means that, especially in far-off and poor regions, the use of small satellite constellations increases due to their need for reliable and low-latency communication. As a result, investments on communication infrastructure have increased significantly which helps consolidate this dominance further.
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Presence of Leading Aerospace and Defense Companies Helped North America to Dominate the Market
In 2023, North America dominated the global small satellite market due to its numerous established firms and strong presence in this particular geographical region, control over which stems from advancements in technology and robust infrastructure that enhances satellite production as well as their activities. And thus, it is United States that leads small satellites development and deployment.
Small Satellite Market Insight
Drivers:
- Rising Global Connectivity in Remote and Underserved Regions
- Small Satellites to Support Data Transmission
- Advance Computing Improving Satellite Capabilities
Restraints:
- Growing Risk of Space Debris
- Complex and Varied Regulatory Environments Across Different Countries
- Competition for Finite Orbital Slots
Prominent Players in Small Satellite Market
- Airbus SE (Netherlands)
- Boeing Co. (US)
- Lockheed Martin Corporation (US)
- Northrop Grumman Corporation (US)
- Planet Labs Inc. (US)
- Spire Global Inc. (US)
- Thales Alenia Space (France)
- Ball Corporation (US)
- Sierra Nevada Corporation (US)
- Maxar Technologies Inc. (Canada)
Segments covered in Small Satellite Market are as follows:
Application
Communication, Earth Observation & Remote Sensing, Scientific Research, Education, Technology, Others
Subsystem
Satellite Bus (Attitude & Orbital Control Systems, Command & Data Handling Systems, Electrical Power Systems, Propulsion Systems {Chemical propulsion, Electric propulsion, Hybrid propulsion}, Telemetry, Tracking, & Command Systems, Structures, Thermal Systems), Payload (Traditional Payloads {Optical & infrared payloads, Hyperspectral & multispectral payloads, SAR payloads, Communications payloads/transponders, Other traditional payloads}, Software-defined Payloads), Solar Panel, Satellite Antenna (Wire Antennas {Monopole antennas, Dipole antennas}, Horn Antennas, Array Antennas, Reflector Antennas {Parabolic reflectors, Double reflectors}), Others
End-Use
Commercial (Satellite Operators/Owners, Media & Entertainment Companies, Energy Service Providers, Scientific Research & Development Organizations, Other Commercial End Users), Government & Defense (Department of Defense & Intelligence Agencies, National Space Agencies, Search & Rescue Entities, Academic & Research Institutions, National Mapping & Topographic Agencies), Dual use
Mass
Small Satellite, Mini Satellite, Micro Satellite, Nano Satellite, CubeSat (0.25-0.5U, 1U, 2U, 3U, 6U, >12U), Others
Frequency
L- Band, S-Band, C-Band, X-Band, Ku-Band, Ka-Band, Q/V- Band, HF/VHF/UHF-Band, and Laser/Optical
Orbit
Low Earth Orbit (LEO), Geostationary Earth Orbit (GEO), Medium Earth Orbit (MEO), and Others
Key Questions Answered in Global Small Satellite Market Report
- By 2031, how much is the global small satellite market estimated to be worth, and what is the anticipated compound annual growth rate (CAGR) for this market?
- Which industry is dominating the small satellite market globally?
- Why does North America, especially in 2023, control the majority of the world market for tiny satellites?
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This report provides the following insights:
- Analysis of key drivers (Cross-industry collaborations, demand for satellite-based environmental monitoring, address climate change and pollution and reusable rockets reducing launch costs), restraints (Constraints in power generation, propulsion systems for small satellites and satellite-based data collection) opportunities (Combining small satellites with other technologies, growing interest in satellite leasing models and development of new propulsion systems), and challenges (Increasing congestion in low Earth orbit (LEO) and improved traffic management) influencing the growth of web application firewall market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the web application firewall market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the web application firewall market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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