Dublin, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The "Small Satellite Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global small satellite market.
The global small satellite market is expected to grow from $3.59 billion in 2021 to $4.2 billion in 2022 at a compound annual growth rate (CAGR) of 17.0%. The small satellite market is expected to grow to $8.35 billion in 2026 at a CAGR of 18.8%.
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Some major players in the small satellite market are Sierra Nevada Corporation, Lockheed Martin Corporation, Airbus, L3 Harris Technologies, The Aerospace Corporation, Planet Labs, GomSpace, Boeing, Space Exploration Technologies, Blue Canyon Technologies, Honeywell International Inc., ST Engineering, Orbital ATK, Inc., Ball Corporation, Israel Aerospace Industries Ltd., QinetiQ, ISIS- Innovative Solutions In Space B.V., Surrey Satellite Technology Ltd. and Spire Global.
The small satellite market consists of the sale of small satellites by entities (organizations, partnerships, and sole proprietors) that refers to the satellites that weigh less than 1,000 kg (2,204 pounds). Miniaturization of electrical hardware and conversion of numerous hardware logics into software logics allow for mass and size reductions.
Small satellites are created by small, highly engaged teams who work on them from conception to launch and operation. Small satellites' weight is reduced even further by using lighter materials in mechanical systems and designing subsystems without redundancy.
The main types of small satellites are minisatellite, microsatellite, nanosatellite, pico-satellites, femto satellites. Minisatellites are smaller in size. The minisatellite will usually weigh 100-500 kgs. They can orbit in Low Earth Orbit (LEO), Middle Earth Orbit (MEO), Geostationary Earth Orbit (GEO).
The components of these are structures, payload, electric power system, solar panel and antenna systems, propulsion systems, other components that are applied in earth observation and remote sensing, satellite communication, science and exploration, mapping and navigation, space observation, other applications. There are various end-users such as commercial, academic, government and military, other end-users.
North America was the largest region in the small satellite market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in small satellite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing space exploration missions are significantly driving the growth of the small satellite market. Various government agencies across the world are increasing their space missions and small satellites help them to complete their space missions.
Technological advancements are shaping the small satellite market. Major companies operating in the small satellite market are focused on bringing advancements in technologies that offer to strengthen their position. For instance, in July 2020, Airbus, a European multinational aerospace corporation, created the Prometheus 1 next-generation software-defined radio payload with innovative technology to provide the tremendous capability to clients.
Prometheus 1 is a software-defined radio with a 400 MHz UHF antenna that can be reconfigured while in space using disruptive technology. It will be able to assess radio spectrum utilization around the planet from space, detect Faraday-1 satellite radar monitoring, and identify and locate search and rescue beacons. Because it possesses features that are superior, disruptive technology washes away the systems or behaviors it replaces.
In August 2021, Space X, a leading US-based aerospace manufacturer acquired Swarm for an undisclosed amount. As a result of this acquisition, SpaceX's business will expand as a result of its ownership of a constellation of 120 sandwich-sized satellites and also a ground station network. Swarm is a U.S-based start-up that developed sandwich-sized small satellites and manufactures low-cost components used in the satellite and provides data connectivity as well.
The countries covered in the small satellite market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $4.2 billion |
| Forecasted Market Value (USD) by 2026 | $8.35 billion |
| Compound Annual Growth Rate | 18.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Small Satellite Market Characteristics
3. Small Satellite Market Trends And Strategies
4. Impact Of COVID-19 On Small Satellite
5. Small Satellite Market Size And Growth
5.1. Global Small Satellite Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Small Satellite Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Small Satellite Market Segmentation
6.1. Global Small Satellite Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Minisatellite
- Microsatellite
- Nanosatellite
- Pico satellites
- Femto satellites
6.2. Global Small Satellite Market, Segmentation By Orbit, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Low Earth Orbit (LEO)
- Middle Earth Orbit (MEO)
- Geostationary Earth Orbit (GEO)
6.3. Global Small Satellite Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Structures
- Payload
- Electric Power System
- Solar Panel And Antenna Systems
- Propulsion Systems
- Other Components
6.4. Global Small Satellite Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Earth Observation and Remote Sensing
- Satellite Communication
- Science And Exploration
- Mapping And Navigation
- Space Observation
- Other Applications
6.5. Global Small Satellite Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Commercial
- Academic
- Government And Military
- Other End Users
7. Small Satellite Market Regional And Country Analysis
7.1. Global Small Satellite Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Small Satellite Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/ajmw9h-satellite?w=12
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