Global Small Satellite Industry was valued at USD 3.1 Billion in the year 2017. Global Small Satellite Industry is further estimated to grow at a CAGR of 16.52% from 2019 to reach USD 10.08 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Asia-Pacific Industry is considered as the fastest growing Industry in the forecast period. At a country level, the U.S. is projected to grow strongly in the coming years.
Major market players in Small Satellite Industry are Lockheed Martin Corporation, Airbus S.A.S.
Boeing, The Aerospace Corporation, Thales Group, Harris Corporation, Orbital ATK Inc, Sierra Nevada Corporation, Singapore Technologies Engineering Limited, Spire Global Inc., Millennium Space Systems Inc., Surrey Satellite Technology Ltd, and brief overview of 12 companies is provided in the report. Rising research and development expenses to cater changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT Analysis of Small Satellite Industry:
Enhanced devotion to necessities of low-budget users
Signal strength and reception of satellite is the major drawback
Deliver improved social assistance for better structure
Regulatory affairs and norms can differ across the nation
The major shares of the Industry come from the Commercial segment in Global Small Satellite Industry. On the other hand, Earth Observation & Meteorology, by size for this Industry is expected to grow at highest CAGR during the year 2018-2025.
Small Satellite Industry Segmentation:
• Surveillance & Security
• Earth Observation & Meteorology
• Scientific Research & Exploration
• Mapping & Navigation
By End User
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa