Small Satellites Market Size to Witness Double-Digit Growth in Next Five Years, Says a New Study from Stratview Research
RAIPUR, India, Aug. 26, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Small Satellites Market by Type (Minisatellite, Microsatellite, Nanosatellite, and Picosatellite), by Application Type (Earth Observation, Technology Development, Communications, and Scientific), by Operator Type (Commercial, Government, Civil, and Military), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's small satellites market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our space electronics market report from the industry stakeholders, we have come up with another comprehensive research report on the small satellite market which is one of the most-talked topics in the industry currently. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Small Satellites Market: Highlights
Miniaturized satellites having a wet mass of under 500 KG are considered under the small satellites category. The weight of small satellites varies as per the components and sensors installed in them. These satellites have a shorter development team and cycles; thus, can be developed and launched at a lower cost in comparison to traditional large satellites. Development in computational technology and data analytics drove the miniaturization of satellite systems.
The number of small satellites launched in the past few years has surged substantially owing to its low cost, easier launch vehicle integration, and technological developments. SpaceX's robust plan of launching about 12,000 satellites in the Starlink constellation, of which half of them are targeted to be launched by end of 2024, is signaling a highly optimistic near-term outlook for the industry, especially of small satellite ones.
The small satellites market plunged in 2016 mainly due to launch failures. It further dropped slightly in 2018 when compared to 2017, owing to the decline in the number of small satellite launches. However, the market witnessed a robust pace in 2020 especially due to the launch of the Starlink internet satellite by SpaceX. The COVID-19 outbreak had a negligible impact on the small satellites market due to the longer project timelines for launching and establishing services. However, the temporary halt of satellite production lines, postponement of launches, and limited availability of funding led to some turbulence amid the pandemic.
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Based on the type, the small satellites market is segmented as minisatellite, microsatellite, nanosatellite, and picosatellite. Minisatellite is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Minisatellites are satellites weighing between 201-500 kg. These satellites are simpler and use similar technologies as larger satellites. SpaceX is the leading player in the minisatellite sector and is primarily employing these satellites for communication and broadband internet services.
Based on the application type, the market is segmented as earth observation, technology development, communications, and scientific. Communication is expected to remain the largest segment of the market during the forecast period. Rising demand for high-speed internet services coupled with growing digitalization across various verticals is augmenting the demand for smallsats, especially for communication purposes.
In terms of regions, North America is projected to remain the largest market for small satellites in the foreseen future. The USA is the pioneer in the smallsats market. In the year 2020, small satellite launches in the USA grew six-fold from that of 2019-level, mainly driven by SpaceX's Starlink constellation. Leading players, such as Planet Labs and SpaceX, are vertically integrated, having a stronghold from raw material procurement to the provision of internet services.
Asia-Pacific is likely to recoup at an impressive rate during the forecast period. The strong growth of the region is mainly attributable to the growing emphasis on the production and launch of smallsats to cater to the need for broadband connectivity solutions, military support, and weather forecasting. China is the leading contributor in the APAC region in the wake of strong expenditure in space exploration and defense activities.
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The market for small satellites is highly consolidated with the strong presence of key players such as SpaceX, Planet Labs, and OneWeb Satellites. These major players are focusing on production as well as launch of smallsats to cater to the need for remote sensing and communication applications. SpaceX offers ride-share missions to other smallsat manufacturers, which further strengthens its position in the industry.
The supply chain of this market comprises several nodes including raw material suppliers, component manufacturers, system integrators, satellite manufacturers, ground station operators, and end-users. Following are the key players in the small satellites market.
- SpaceX
- OneWeb Satellites
- Planet Labs Inc.
- Chang Guang Satellite Technology Co., Ltd.
- Kepler Communications Inc.
- Satellogic
- Spire Global
- Surrey Satellite Technology Ltd. (SSTL)
- Swarm Technologies, Inc.
Development of smallsats for communication, long-term agreements among the key players, and funding provided by VCs & government entities to smallsat start-up companies are the key trends shaping the market as well as competitive dynamics.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
This report studies the small satellites market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Small Satellites Market, by Type
- Minisatellite (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Microsatellite (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Nanosatellite (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Picosatellite (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Small Satellites Market, by Application
- Earth observation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Technology Development (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Communications (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Scientific (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Small Satellites Market, by Operator Type
- Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Government (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Civil (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Small Satellites Market, by Region
- North America (Country Analysis: The USA, Canada)
- Europe (Country Analysis: Germany, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Argentina and Others)
Stratview Research has several high value market reports in the aerospace and defense industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
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