Market Dynamics:

The Small Satellite Market is expected to promise high growth owing to the increasing demand for high resolution imaging services in recent years. Increasing demand from end-use industries including civil, commercial, defense, the government is expected to drive the growth of small satellite market. This market has witnessed a number of key developments by major companies including Aerospace Corporation, Airbus Defense and Space, Boeing, EchoStar Corporation, Eutelsat Communications S.A., Geooptics Inc., Harris Corporation, and others with a focus on organic as well as inorganic growth strategies. Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

Small satellites weigh below 500 kg. Nowadays, these satellites are used for numerous applications such as mobile communication, earth observation, mapping navigation, remote sensing, scientific research & exploration, and surveillance & security. With advancements in technology in the field of microelectronics such as low weight antennas, apertures, panels, trans-receivers, control sensors, and actuators in small satellites and the rising need for earth observation service for sectors such as agriculture, energy, defense, communication, scientific research, and space exploration, governments and private companies are investing in these satellites. This is expected to drive the market for small satellites during the forecast period.Key Factors Impacting Market Growth:Increasing demand for high resolution imaging servicesIncreasing government investments in the small satellite market

Increasing demand for small satellites in emerging economiesLow cost of components and diversified scope of applications to increase its adoptionRegional Analysis:

The Small Satellite Market by region has been segmented by North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and the Rest of the World. The rest of the World includes South America and Africa. North America and the European region have been traditional regions for the aerospace & defense sector with the presence of major manufacturers and high market demand. In addition to this, these regions have been aggressive in terms of technological developments and research. This is one of the key factors governing the demand for a small satellite market during the forecast period. Major countries in these regions include US, France, UK, Germany, Italy, Russia, Canada, and So on. This sector is one of the key contributors to the economies in the region. The Asia Pacific is estimated to be the fastest growing region with increasing expenditure on defense and space research. With the presence of some of fastest growing economies including India and China, this region is projected to be a major market for small satellite markets during the forecast period. Other key countries in the region include South Korea, Japan, and Australia. The Middle East region promises a high potential demand for small satellite market during the forecast period. Major countries in this region include UAE, Saudi Arabia, Iran, Israel, and others. The rest of the World is an emerging market for small satellite market with demand from countries including South Africa, Brazil, Argentina, Nigeria, and others during the forecast period.

Companies Covered: Aerospace Corporation, Airbus Defense and Space, Boeing, EchoStar Corporation, Eutelsat Communications S.A., Geooptics Inc., Harris Corporation, Inmarsat plc, Lockheed Martin Corporation, Millennium Space Systems, Northrop Grumman Corporation, Nuance Communications, Inc., Planet Labs Inc., Sierra Nevada Corporation, Singapore Telecommunications Limited, Space Exploration Technologies, Spire Global, ST Engineering Limited, Surrey Satellite Technology Ltd., Thales Group, and Viasat, Inc…