GLOBAL SMALL SATELLITE MARKET FORECAST 2019-2027

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GLOBAL SMALL SATELLITE MARKET FORECAST 2019-2027

Satellites that weigh less than 500 kg are termed as a small satellite. These type of satellites have a capacity of handling high bandwidth and are suitable for analog and digital transmission. According to the estimations by Inkwood Research, the market for small satellites will record growth at a  CAGR of 18.07% during the forecast period.  It is estimated to reach a revenue of $15860.50 Million by 2027. The base year for the market study is 2018, and the forecasted period is 2019 -2027. Numerous space start-ups are coming up, resulting in low-cost mini rockets, and small satellite market than that of the bigger projects that are led by the state. For instance, Softbank is actively looking for making investments in the satellite industry.

GLOBAL SMALL SATELLITE MARKET FORECAST 2019-2027

Global Small Satellite Market by Type (Minisatellite, Microsatellite, Nanosatellite, Pico-satellite, Femto-satellite) by Application (Imaging and Earth Observation, Satellite Communication, Science & Exploration, Technology Development, Space Situational Awareness) by End User (Civil & Commercial, Government & Defence) by Geography.

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Satellites that weigh less than 500 kg are termed as a small satellite. These type of satellites have a capacity of handling high bandwidth, and are suitable for analog and digital transmission.

According to the estimations by Inkwood Research, the market for small satellites will record growth at a  CAGR of 18.07% during the forecast period.  It is estimated to reach a revenue of $15.86 Billion by 2027. The base year for the market study is 2018, and the forecasted period is 2019 -2027.

The global small satellite market is driven by:

  • Venture companies making huge investments
  • Low-cost small satellite miniaturization of component
  • Rising earth observation applications
  • High demand from emerging economies
  • Increase in government investments

Numerous space start-ups are coming up, resulting in low-cost mini rockets, and small satellite market than that of the bigger projects that are led by the state. For instance, Softbank is actively looking for making investments in the satellite industry. With investments pouring heavily in this segment, new players are entering this market. Several top companies are looking forward to investing in the small satellite market and developing new technologies. For instance, Sony, the Japanese multinational conglomerate corporation, is coming up with plans to mass-produce optical communications devices for small satellites. The demand for the use of earth observation has been rising since the last few years. Earth observation is helping the growth and development of the small satellite market, as these satellites make the process affordable. The earth observation satellites are majorly used in the government sectors and federal agencies to obtain high-resolution images for various purposes, such as infrastructure security, urban planning, homeland security, and border mapping.

Imaging and earth observation is the leading segment in terms of revenue in the global small satellite market, with around 37.75% market share in 2018. Earth observation is the major application of small satellites for commercial weather monitoring, agricultural monitoring, and management, and synthetic aperture radar imagery. Multispectral imagery has increased the adoption of satellite imaging in the agriculture sector, as it offers satellites for various applications, such as vegetation analysis, wetland mapping, and examination of soil features. The rising awareness regarding the scarcity of high incidence theft, and smuggling of oil and natural resources has increased the demand for satellite imaging in the energy sector. Moreover, the satellite communication segment is anticipated to grow at the highest CAGR of around 20.44% during the forecast period. Communications play a significant role in this sector, owing to security and high reliability in military operations satellite-based. The global and Iridium star small satellite constellation for mobile communications services is used by several military operations. With the advent of sensing, computing and communication have increased to reduce manual interventions drastically, as there is an advanced usage of technologies, and there has been a technical revolution. Companies and space agencies are aiming to develop long-range, high capacity, and cost-effective communication constellations using small satellites.

The global small satellite market growth is curtailed by lack of dedicated small satellite launch vehicles, limitations with small satellites, the launch of low-cost, and small satellite beyond low-earth orbit, removal of space debris. Space debris is the collection of uncontrollable and dead objects lingering in orbit, which include dysfunctional satellites, remains of launch vehicles, and other small bits and pieces of other spacecraft. This junk is susceptible to collide with satellites and can potentially damage the spacecraft. Therefore, an efficient de-orbiting system is the primary requirement at present to eradicate the threat from debris, thereby lowering their population. Companies and space agencies are continuously working toward developing a debris control system and a de-orbiting system to overcome this challenge. Cleaning debris that already exists is a completely different challenge, which requires specific trips that could remove them from orbit but at a high financial cost.

Report scope of global small satellite market covers segmentation analysis of type, application, and end user.

Market by Type:

  • Mini-satellite
  • Pico-satellite
  • Nano-satellite
  • Micro-satellite
  • Femto-satellite

Market by Application:

  • Imaging and earth observation
  • Technology Development
  • Science & exploration
  • Technology Development
  • Space situational awareness

Market by End User:

  • Civil & Commercial
  • Government & Defence

 

On the basis of geography, the global small satellite market has been segregated into four major regions:

  • North America Small Satellite: the United States & Canada
  • Europe Small Satellite: United Kingdom, Germany, France, Italy, Spain, Russia, and the Rest of Europe
  • Asia Pacific Small Satellite: China, India, Japan, South Korea, Australia,and the Rest of Asia Pacific
  • Rest of World: Brazil, South Africa, Africa, the Middle East, Israel, Saudi Arabia, and the Rest of Latin America

In terms of geography, North America is the largest market with a market share of 54.20% with revenue in 2018. The dominance of North America is attributed to the presence of a majority of the key players that are offering their solutions in the region. These include Boeing, Lockheed Martin Corporation, and others. Several companies are expanding their operations in this region to serve the growing demand for space-based internet services, communication services, and high-resolution imaging. The government invests in each part of the value chain, but mainly at the upstream and downstream part of the value chain of the market, owing to which the U.S. is anticipated to grow at a considerable rate. Besides, the U.S. uses small satellites dominantly for imaging and earth observation applications. On the other hand, Asia Pacific is anticipated to be the fastest-growing region, recording a CAGR of XX% during the forecast period. The government is the major source of funding in most of the countries in the Asia-Pacific region. The small satellite is majorly used for imaging and earth observation applications in this region. This is because earth observation allows prediction and disaster relief warnings such as Tsunami, which are of key interest in several countries in this region. Several countries are collaborating with Europe and the US to make their space agencies stronger. For instance, In Singapore, the Satellite Research Center at Nanyang Technological University has collaborated with Thales Solutions Asia and Europe’s prominent satellite maker, Thales Alenia Space, to establish a research lab to strengthen its expertise in small satellites.

The global small satellite market has been segmented on the basis of type, application, and end user. The type segment is further sub-segmented into mini-satellite, micro-satellite, nano-satellite, pico-satellite, Femto-satellite. The market for small satellite by application is divided into imaging and earth observation, satellite communication, science & exploration, technology development, space situational awareness. Market by end-user is divided into civil & commercial, government & defense.

The market has a number of players, and some of the major key players involved in global small satellite market are:

  • Airbus S.E
  • Northrop Grumman Corporation
  • Gomspace
  • Boeing
  • Others

In December 2018, Harris Corporation showcased the ability to provide end to end solutions for small satellite market by launching and communicating successfully with its first small satellite from India’s Polar Satellite Launch Vehicle. In May 2019, a Rocket Lab Electron rocket from New Zealand’s North Island launched 3 small satellites. The manifest included a 6U CubeSat with 2 payloads, AFRL’s SPARC-1 built on SUPERNOVA bus by Pumpkin.

Key findings of the global small satellite market:

  • North America leads the global small satellite market by capturing the largest market share of around 54.20% in 2018.
  • The Asia Pacific small satellite market is anticipated to grow at the highest CAGR of XX% during the forecast period of 2019-2027.
  • Imaging and earth observation accounts for the largest share in the small satellite market, and is projected to grow with a CAGR of XX% during the forecasted period.
  • Civil and Commercial satellite in the small satellite market is projected to grow fastest in the market at CAGR of XX% during the forecasted period.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • NANOSATELLITE SEGMENT IS THE FASTEST GROWING AMONG THE TYPE
      • NORTH AMERICA LEADS IN THE SMALL SATELLITE MARKET
      • IMAGING AND EARTH OBSERVATION HAS A HUGE MARKET SHARE
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • VENTURE COMPANIES MAKING HUGE INVESTMENTS
      • LOW-COST SMALL SATELLITE MINIATURIZATION OF COMPONENT
      • RISING EARTH OBSERVATION APPLICATIONS
    • MARKET RESTRAINTS
      • LACK OF DEDICATED SMALL SATELLITE LAUNCH VEHICLES
      • LIMITATIONS WITH SMALL SATELLITES
    • MARKET OPPORTUNITIES
      • HIGH DEMAND FROM EMERGING ECONOMIES
      • INCREASE IN GOVERNMENT INVESTMENTS
    • MARKET CHALLENGES
      • LAUNCH OF LOW-COST SMALL SATELLITE BEYOND LOW-EARTH ORBIT
      • REMOVAL OF SPACE DEBRIS
  1. MARKET BY TYPE
    • MINISATELLITE
    • MICROSATELLITE
    • NANOSATELLITE
    • PICO-SATELLITE
    • FEMTO-SATELLITE
  2. MARKET BY APPLICATION
    • IMAGING AND EARTH OBSERVATION
    • SATELLITE COMMUNICATION
    • SCIENCE & EXPLORATION
    • TECHNOLOGY DEVELOPMENT
    • SPACE SITUATIONAL AWARENESS
  3. MARKET BY END USER
    • CIVIL & COMMERCIAL
    • GOVERNMENT & DEFENCE
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • BRAZIL
      • ISRAEL
      • SOUTH AFRICA
      • SAUDI ARABIA
      • REST OF LATIN AMERICA, MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • AIRBUS S.E
    • BOEING
    • GOMSPACE
    • LOCKHEED MARTIN CORPORATION
    • L3HARRIS TECHNOLOGIES, INC
    • NORTHROP GRUMMAN CORPORATION
    • OHB SE
    • PUMPKIN INC.
    • SIERRA NEVADA CORPORATION
    • THALES GROUP
    • SINGAPORE TECHNOLOGIES ENGINEERING LTD
    • BLUE CANYON TECHNOLOGIES INC.
    • MILLENNIUM SPACE SYSTEMS
    • PLANET LABS
    • SPIRE GLOBAL

TABLE LIST 

TABLE 1: GLOBAL SMALL SATELLITE MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: GLOBAL SMALL SATELLITE MARKET, BY TYPE, 2019-2027 (IN $ MILLION)

TABLE 3: GLOBAL MINISATELLITE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL MICROSATELLITE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL NANOSATELLITE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL PICO-SATELLITE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL FEMTO-SATELLITE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL SMALL SATELLITE MARKET, BY APPLICATION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL IMAGING AND EARTH OBSERVATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL SATELLITE COMMUNICATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL SCIENCE & EXPLORATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL TECHNOLOGY DEVELOPMENT MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL SPACE SITUATIONAL AWARENESS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: GLOBAL SMALL SATELLITE MARKET, BY END USER, 2019-2027 (IN $ MILLION)

TABLE 15: GLOBAL CIVIL & COMMERCIAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16: GLOBAL GOVERNMENT & DEFENCE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17: OPPORTUNITY MATRIX

TABLE 18: VENDOR LANDSCAPE

TABLE 19: GLOBAL SMALL SATELLITE MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 20: NORTH AMERICA SMALL SATELLITE MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 21: EUROPE SMALL SATELLITE MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 22: ASIA PACIFIC SMALL SATELLITE MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 23: REST OF WORLD SMALL SATELLITE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

FIGURES LIST

FIGURE 1: GLOBAL SMALL SATELLITE MARKET, BY APPLICATION, 2018 & 2027 (IN %)

FIGURE 2: GLOBAL SMALL SATELLITE MARKET, BY NANOSATELLITE, 2019-2027 (IN $ MILLION)

FIGURE 3: NORTH AMERICA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 4: GLOBAL SMALL SATELLITE MARKET, BY IMAGING AND EARTH OBSERVATION, 2019-2027 (IN $ MILLION)

FIGURE 5: GLOBAL SMALL SATELLITE MARKET, BY MINISATELLITE, 2019-2027 (IN $ MILLION)

FIGURE 6: GLOBAL SMALL SATELLITE MARKET, BY MICROSATELLITE, 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL SMALL SATELLITE MARKET, BY NANOSATELLITE, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL SMALL SATELLITE MARKET, BY PICO-SATELLITE, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL SMALL SATELLITE MARKET, BY FEMTO-SATELLITE, 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL SMALL SATELLITE MARKET, BY IMAGING AND EARTH OBSERVATION, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL SMALL SATELLITE MARKET, BY SATELLITE COMMUNICATION, 2019-2027 (IN $ MILLION)

FIGURE 12: GLOBAL SMALL SATELLITE MARKET, BY SCIENCE & EXPLORATION, 2019-2027 (IN $ MILLION)

FIGURE 13: GLOBAL SMALL SATELLITE MARKET, BY TECHNOLOGY DEVELOPMENT, 2019-2027 (IN $ MILLION)

FIGURE 14: GLOBAL SMALL SATELLITE MARKET, BY SPACE SITUATIONAL AWARENESS, 2019-2027 (IN $ MILLION)

FIGURE 15: GLOBAL SMALL SATELLITE MARKET, BY CIVIL & COMMERCIAL, 2019-2027 (IN $ MILLION)

FIGURE 16: GLOBAL SMALL SATELLITE MARKET, BY GOVERNMENT & DEFENCE, 2019-2027 (IN $ MILLION)

FIGURE 17: PORTER’S FIVE FORCE ANALYSIS

FIGURE 18: VALUE CHAIN ANALYSIS OF SMALL SATELLITE MARKET

FIGURE 19: GLOBAL SMALL SATELLITE MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 20: UNITED STATES SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21: CANADA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22: UNITED KINGDOM SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23: GERMANY SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24: FRANCE SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25: SPAIN SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26: ITALY SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: RUSSIA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: REST OF EUROPE SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: CHINA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: JAPAN SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: INDIA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: SOUTH KOREA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33: AUSTRALIA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: REST OF ASIA PACIFIC SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: BRAZIL SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36: ISRAEL SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37: SOUTH AFRICA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38: SAUDI ARABIA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 39: REST OF LATIN AMERICA, MIDDLE EAST & AFRICA SMALL SATELLITE MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY TYPE
    • MINISATELLITE
    • MICROSATELLITE
    • NANOSATELLITE
    • PICO-SATELLITE
    • FEMTO-SATELLITE
  2. MARKET BY APPLICATION
    • IMAGING AND EARTH OBSERVATION
    • SATELLITE COMMUNICATION
    • SCIENCE & EXPLORATION
    • TECHNOLOGY DEVELOPMENT
    • SPACE SITUATIONAL AWARENESS
  3. MARKET BY END USER
    • CIVIL & COMMERCIAL
    • GOVERNMENT & DEFENCE
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • BRAZIL
      • ISRAEL
      • SOUTH AFRICA
      • SAUDI ARABIA
      • REST OF LATIN AMERICA, MIDDLE EAST & AFRICA

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