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Small Satellite Services Market


Aerospace & Defence
Space

The small satellite service market is projected to grow from an estimated USD 14.88 Billion in 2017 and is projected to reach USD 53.22 Billion by 2022, at a CAGR of 29.03% from 2017 to 2022. Factors, such as satellite miniaturization, and increasing demand for earth observation and satellite broadband services are expected to fuel the growth of the small satellite service market.

Based on platform, the nanosatellite segment of the small satellite service market is projected to grow at the highest rate during the forecast period. Due to their low mass and small size, several satellites can be launched simultaneously from a single vehicle launcher. These satellites are designed for specific tasks, such as communication, earth observation, and space exploration, and together, in a group, perform a mission. Moreover, the low mission cost of nanosatellites has led to their adoption in the defense sector.

Based on vertical, the commercial segment of the small satellite services market is projected to grow at the highest CAGR during the forecast period, due to the increase in R&D activities for technological innovations in the telecommunication sector. In addition, several countries are engaged in the production and development of small satellites to be used for telecommunication and broadcast, and navigation worldwide, which is driving the commercial segment.

Based on application, the remote sensing segment of the small satellite service market is projected to grow at the highest CAGR during the forecast period. Remote sensing data collection and analysis services are used extensively in all commercial industries, such as agriculture, energy & power, and weather forecasting, among others.

Small Satellite Services Market

The demand for satellite broadband services is increasing in the US and Canada. Broadband service providers are witnessing a surge in demand for broadband services from urban as well as rural populations.

Factors, such as lack of dedicated launch vehicles, scarce intellectual assets, and design related limitations may act as restraints for the growth of the small satellite services market.

Key players profiled in the small satellite service market report include Singapore Telecommunications Limited (Singapore), Eutelsat Communications S.A. (France), EchoStar Corporation (US), Inmarsat plc (UK) and Viasat, Inc. (US), among others. Contracts was among the key strategies adopted by the leading players to sustain their positions and enhance their revenues and service offerings in the small satellite service market.

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