Small Satellite Market Top Manufacturers Analysis, Size Report and Growth Forecast to 2027
Small Satellite Market will
exhibit a CAGR of 3.92% and reach 18.30 Billion by 2026, and the market
value as per 2018 was USD
4.18 Billion.
Fortune Business Insights™ in
a recently published report, titled, “Small Satellite
Market Size, Share & Industry Analysis, Type (Mini Satellite, Micro
Satellite, and Nano Satellite), By Component (Structure, Payload, Electric
Power System, Solar Panel and Antenna Systems, Propulsion Systems, and others),
By Application (Communication, Earth Observation, Navigation, Technology
Development, and Others), By End User (Commercial, Military, Civil, and
Government) and Regional Forecast, 2019-2026.”
Small Satellite Market Drivers and Restraint :
The
connectivity offered by (IoT) in industrial application for machine control
& production through satellites is projected to boost the market during
the forecast period. Industrial applications for IoT based devices are
exchanging real time data to the processing units, that help to enhance the
machine control and production operation in the manufacturing industry. IoT
devices use satellite connectivity to transmit & exchange real time
data between the IoT systems and components in the manufacturing process.
Earlier, data exchange between the machine control & production was dependent
on terrestrial GSM networks, which is now getting replaced by the satellite
connectivity. Satellite technology proves as a key enabler to transform IoT
connectivity across manufacturing industries and process automation.
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List of Significant Manufacturers Small Satellite Market are:
- Sierra
Nevada Corporation
- Singapore
Technologies Engineering Limited
- Surrey
Satellite Technology LTD.
- Planet
Labs Inc.
- Airbus
S.A.S
- Northrop
Grumman Systems Corporation
- Space
Exploration Technologies Corp. (Space X)
- Boeing
- Thales
Alenia Space
- Millennium
Space Systems Inc.
- Lockheed
Martin Corporation
- Geooptics
Inc.
- Oneweb
LTD.
- Harris
Corporation
Regional Analysis-
The
enhancement and improvement in communication networks have presented the
pioneering 5G technology, which offers new applications and services through
high gigabit speed. After 2G, 3G, and 4G mobile networks, the upgraded 5G
network will provide an enhanced range of high-speed broadband services. 5G
will have its application in high altitude platform systems (HAPS) and
satellite technology. HAPS and satellite systems will be able to deliver high
data rates to terrestrial wireless backhaul networks outside major urban as
well as suburban areas. These factors together are expected to spur demand for
5G networks, which will, in turn, aid the expansion of the market in the
forthcoming years. Furthermore, the development of smart cities and IoT through
the deployment of low-power sensor networks such as 5G will subsequently enable
the growth of the market. In addition, high security and robustness of 5G will
be used for public safety and during mission-critical services, such as
healthcare, smart grids, energy, and power utilities.
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917
Surge in Satellite Communications to Facilitate Growth in North
America
North
America was valued at USD 2.57 Billion in 2018 and is predicted to lead the
market during the forecast period. The rising adoption of the triband antenna
will have a positive impact on the market in North America. Furthermore, the
introduction of SKYWAN technology by NASA, a unique hybrid modem which competes
with MF-TDMA and DVB-S2X, allowing for real-time transmission with high
throughput, the best transport per application will augment healthy growth of
the market in the forthcoming years.
Some of the key industry developments in the Small Satellite
Market Include:
December 2019: Landscape,
a Chinese space launch company received USD 71 million funding from Garden
Venture Capital to develop two-stage Zhuque-2 (Vermillion Bird-2) medium-lift
launch vehicle. This vehicle is used to launch small satellite
February 2016: Harris
Corporation received a contract from NASA. In this contract, Harris corporation
to build two payloads for the fourth and fifth weather satellite in the
National Oceanic & Atmospheric Administration (NOAA). This is a joint
polar satellite systems program.
March 2016: Airbus Defense and Space
had a contract with the U.K. Ministry of Defence for the manufacturing and
operation of two solar-powered Zephyr 8 High altitude Pseudo-satellite (HAPS)
craft.
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