The small satellite market accounted for US$ 3,632.4 million in 2018 and is anticipated to reach US$ 15,686.3 million by 2026, registering a CAGR of 20.1% from 2019 to 2026 according to a recent report by MarketsandMarkets. Satellites weighing below 500 Kg are known as small satellites.
The small satellite market is anticipated to grow owing to an increase in demand for the small satellite in Low Earth Orbit (LEO) based services. LEO based services include space-based communication, imagery-based intelligence, and situational awareness (SA). Some countries in Asia-Pacific and LAMEA are economically unstable owing to which they are unable to conduct space research programs. This factor is anticipated to hinder the market growth during the forecast period.
The small satellite market is segmented based on type, application, end-user, and region. Depending on type, the market is categorized into minisatellite, microsatellite, nanosatellite, pico-satellites, and femto satellites. On the basis of application, it is classified into imaging and earth observations, satellite communications, science & explorations, technology development, and space situational awareness. Based on end-user, the market is bifurcated into civil & commercial and government & defense. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
For more information please click on: Small Satellite Market: Opportunity Analysis and Industry Forecast (2019-2026)
