Global Small Satellite Market to Witness Excellent Long-Term Growth Outlook by 2028

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The global market for small satellite is foreseen to expand at a stellar pace during the next decade. Over the assessment period 2018-2028, global sales of the US$ 2.31 Bn market are expected to attain a value worth US$ 8.94 Bn. By satellite type, nano-satellites are presumed to stay dominant, whereas by end-use, defence sector will continue to generate the highest demand for small satellite over the next few years. By region, North America has been identified to be the dominant market, while Western Europe and SEA and others of APAC are apprehended to witness robust growth in the course of assessment.

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Report Overview

This report presents an analysis about the current trends and ongoing developments in the small satellite market. Small satellites are artificial satellites with lower weights and smaller sizes, and are becoming more attractive in recent years due to lower development costs and shorter lead times as compared to large satellites. In the past few years, space systems and technologies have become a crucial part of the economic, scientific, and security capabilities of countries across the world. Various government and private organizations in the world are now focused on capitalizing on space systems to improve operational effectiveness, and to enhance homeland security and digital communication capabilities.

Scope of the Report

The scope of this market study includes the manufacturing of small satellite. Satellite-related services in consumer and commercial domains such as satellite TV and cellular communication, launch vehicle services, and ground equipment have been excluded from the scope of this market study. The research methodology of the market study includes extensive primary and secondary research. Various surveys were conducted with small satellite manufacturers and industry experts to understand the value chain and critical driving factors of the small satellite market. Desk research was conducted to identify current market trends and ongoing developments in the market.

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Market Segmentation

The market has been segmented in two broader categories: satellite type and end user. The satellite type segment is further segmented into mini-satellites, micro-satellites, nano-satellites, and pico-satellites. Among these, the nano-satellites segment is expected to grow at a relatively higher CAGR during the forecast period, owing to an increase in the demand for nano-satellites in various applications such as earth observation, research & development, and remote sensing. The nano-satellites segment is also expected to capture a market share of 43.0% during the forecast period. Among the end user segments, the commercial segment is expected to grow at a CAGR of 13.9% during the forecast period, as small satellites are now being increasingly used in several commercial applications such as air & maritime monitoring, communications, land use monitoring, agriculture monitoring, and disaster monitoring.

The decrease in the prices of launch services and the increasing need for surveillance in defense are some of the primary factors which are fuelling the growth of the small satellite market. North America is expected to hold more than 50% of the market share in 2018. One of the major reasons for the dominance of North America is that, most satellite manufacturers are based in the U.S., and are delivering small satellites to various public and private organizations across the globe. However, the SEA & others market in the APAC region is expected to create more potential growth opportunities for the small satellite market in the coming few years, owing to the increasing demand for small satellites in India and ASEAN countries.

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The final section of the report focuses on the profiles of leading companies in the global marketplace for small satellites. The market study also presents some recommendations for market stockholders. In brief, these recommendations encourage consultation between small satellite manufacturers, for which technological advancements should be an agenda issue, and professional bodies in non-satellite manufacturing sectors, such as media & entertainment and telecommunication services. All stockholders in the small satellite industry should work in collaboration and exchange their resources in order to improve the quality of services that are being offered through small satellites.

 

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