Current Business Affairs Global Small Satellite Market 2018

Global Small Satellite Market Trends, Analysis, and Forecast To 2025
Market Definition:
Small satellites, also known as miniaturized satellites are satellites of small size and low mass generally below 500 kg.
The main advantage offered by the small satellites is associated with the cost of launching the satellites and the low
construction cost. Small satellites if used in more numbers prove more effective and economical as compared to the
larger satellites used in fewer numbers. One of the technical restraints in the construction of small satellites is the
absence of appropriate storage for power supply and propulsion system. The global small satellite market is analyzed to
witness substantial growth over the forecast period. Technological advancements and a wide array of applications in
various markets have attracted many commercial and government investments in small satellites. Small satellites are
extensively used in navigation systems, crop monitoring, human migration, weather forecasts, ariel photography, earth
observation and military purposes. Small satellites are also used for tactical communication, medium resolution imagery,
technology development, geospace and atmospheric research.
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Market Growth and Analysis:
The small satellite market is driven by the increasing demand for satellite miniaturization across the globe. The increased
focus on reducing the mission cost is anticipated to boost the global small satellite market over the forecast period. In
addition to this, the huge investment in major key players in small satellite market is expected to augment the demand
for small satellite over the forecast period. The lack of vehicles to launch the small satellites to space is projected to
restrain the growth of small satellite market. In addition, the scientific and programmatic risk involved in small satellites
is expected to hamper the growth of small satellite market in the recent years. The increased demand for big data is
anticipated to bring in new opportunities for major players in small satellites market.
Market Segment:
The small satellite market is bifurcated on the basis of type, end-use, and application. The market is segmented based on
type as Nano satellite, micro satellite, and mini satellite. The small satellite market is segmented by end-use as
commercial, civil and defense. The global small satellite market is bifurcated based on the application as communication,
scientific research and exploration, mapping and navigating earth observation and meteorology, and surveillance and
security.
Key Players:
Some key players in the small satellite market Sierra Nevada Corporation, SpaceX, Surrey Satellite technologies Ltd., ST
Engineering Limited, Airbus Defense and space, Planet Labs, GeoOptics Inc., Northrop Grumman Corporation, and
Oneweb Ltd. The major players in the global small satellite market have adopted the strategy of mergers and
agreements so as to sustain their significant market share. This has helped the companies to extend their services to
different regions.
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