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Global Small Satellites Market Anticipated to Reach $10.10 Billion by 2021

Global Small Satellites Market Anticipated to Reach $10.10 Billion by 2021

Over the last few years, large number of companies have entered the satellite industry, motivated by the significant reduction of manufacturing cost due to invention of small satellites. Globally, companies are developing relatively inexpensive small satellites, which facilitate services almost equivalent to the traditional big satellites that serve governmental agencies or public sector industries. The market of small satellites is expected to show robust growth rate due to increasing rate of investments in the space industry by the government organizations.

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A major advantage with small satellites is that they allow business & scientific establishments, educational institutions, non-spacefaring states, non-profit organizations, and even individuals an easy access to space. However, there are several market factors that will define the dynamics of the small satellites industry in the next five years. Clyde Space Ltd., Space Systems/Loral, LLC, Surrey Satellite Technology Ltd., Tyvak Nano-Satellite Systems, Inc., Israel Aerospace Industries Ltd., Lockheed Martin Corporation, OHB SE, and Orbital ATK, Inc. are some of the major players of the small satellites market.

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Advancements in satellite miniaturization, increasing capability of electronic technology, ascending demand for small satellite constellations, and increase in the deployment of small satellites for commercial end users are driving the growth of the market. In addition to this, developing safe, low-cost, and small payload satellite to launch beyond low-earth orbit, clean-up and removal of space debris act as the major challenges to the market. Furthermore, increasing market penetration of small satellites into disaster management - an emerging small satellite application, nations developing their own Global Navigation Satellite System (GNSS), advancements in small satellite structure, and increase in the requirement of low cost launching sites for small launch vehicles are expected to create lucrative opportunities for the market in the coming years. Each of these factors has a definite impact on the growth of the market.

According to the latest market research report by BIS Research, titled ‘Global Small Satellites Market - A…ast: 2017 to 2021’, the global small satellites market reported a revenue of $2.52 billion in 2016, and the government end user is expected to generate the highest revenue by 2021. Government end user had the highest market penetration rate in the overall small satellites market in 2016, followed by commercial, academic, and defense. The commercial end user is expected to witness a high growth rate owing to increasing research and development (R&D) activities to develop small satellite constellation for varied applications such as navigation, provision of global wireless internet system, and telecommunication, among others.

Companies Mentioned in the Report:

  • Ball Corporation
  • Clyde Space Ltd.
  • Innovative Solutions in Space BV
  • Interorbital Systems
  • Israel Aerospace Industries Ltd. (IAI)
  • Lockheed Martin Corporation
  • OHB SE
  • Orbital ATK, Inc.
  • QinetiQ Group PLC
  • Sitael S.p.A.
  • Space Systems/Loral, LLC (SSL)
  • Surrey Satellite Technology Ltd. (SSTL)
  • The Aerospace Corporation
  • The Boeing Company
  • Tyvak Nano-Satellite Systems, Inc.

Key Questions Answered in the Report:

  • What was the size, in terms of revenue and volume, of the small satellites market in 2016, and what will be the growth rate during the forecast period, 2017-2021?
  • What is the market size of different types of small satellites, including femto, pico, nano, micro, and mini?
  • What was the market value of different subsystems of small satellites in 2016? What are the technological advancements and opportunities for the stakeholders for different subsystems?
  • What is the market analysis of the end users of small satellites such as academic, government, defense, non-profit organization, and commercial, including IT & telecommunication, agriculture, oil & gas, and mining?
  • What is the market analysis of the end users of small satellites, on the basis of different applications, including communication, Intelligence, Surveillance, & Reconnaissance (ISR), earth observation & remote sensing, academic research & space exploration, navigation, and technology demonstration?
  • What is the market size of small satellites on the basis of different geographical regions and respective leading nations? Furthermore, what is the market size of different end users of small satellites operating in these regions?
  • What are the key trends and opportunities in the small satellites market, across different regions and respective countries?
  • What are the major driving forces that are expected to increase the demand of small satellites during the forecast period?
  • What are the major challenges inhibiting the growth of the global small satellites market?
  • What kind of new strategies are being adopted by the existing market players to make a mark in the industry?
  • What is the competitive strength of the key players in the small satellites market by analyzing through competitive benchmarking model?
  • How attractive is the market for different stakeholders present in the market by analyzing through Porter’s Five Forces model?

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BIS ResearchBIS Research
Category: Market Research Publishers and RetailersCompany profile: As an Owl on top of the Globe (Our Logo), BIS Research is continuously scanning, analyzing, and predicting emerging technology areas and reporting the same for your business growth. BIS Research is a global technology research and advisory company which focuses on the emerging trends in technology which are likely to disrupt the dynamics of the market. We strive to provide information about such uncharted territories to our clients so as to facilitate their decision making process. BIS Researc ...