Global Small Satellite Market Forecast by 2021 Global Small Satellite Market is projected to touc | Page 2

Research & Exploration, Surveillance & Security, Communication), by End-User
(Civil, Commercial and Military), by Geography – Global Forecast to 2021”. The
global small satellite market was estimated at USD 1986 Million in 2016 and is
projected to be valued at USD 4364 Million by the end of 2021, registering a
CAGR of 17.05% during forecast period. Increased investment in space science,
growing demand for high resolution earth imaging and rise in number of space
missions by the government authorities worldwide are the key factors bolstering
the growth of the small satellite market.
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Based on Product Type, Nanosatellites is projected to be the fastest growing
segment
Nanosatellites provide quicker, cost-effective and reliable access to space.
These satellites can be used for complex space missions such as disaster
management, environmental monitoring, scientific research and exploration,
communication, military intelligence, navigation and other academic purposes.
The less stringent regulations, less complex manufacturing process and low cost
are the key factors fuelling the growth of nanosatellites market.
Based on Application, Earth Observation & Meteorology segment is estimated to
hold the largest market share in the small satellite market
The earth observation and meteorology segment is estimated to capture the
largest share of the total small satellite market due to the increased demand in
the commercial, civil and military use globally. These satellites are capable of
monitoring situations such as cyclones, hurricanes, earth quakes, powerplant
disasters, storms, volcanic activities, among others.