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    Small Satellite Market Size to Grow at a CAGR of 18.2% During the Forecast Period 2021-2026
    (I-BusinessNews.Com, October 07, 2021 ) The Small Satellite Market size is analyzed to grow at a CAGR of 18.2% during the forecast 2021-2026 to reach $8.2 billion. Small satellites, also termed as Smallsats are a class of flight-proven spacecraft, designed to meet high reliability mission requirements. The increasing popularity of these mini-satellites and nano-satellites is mostly due to their lightweight, versatile and inexpensive designs, integrated with the latest software and hardware improvements, which fuel the growth of the Small Satellite Industry. Hence, the affordable solution has broadened the diverse mission-specific standards across various industry verticals, including, asset tracking, security & defense, IoT, and other space programs. Furthermore, the rise in demands for satellite imagery, low-cost high-speed broadband, along with the investments in fundamental research in CubeSats are some of the factors that drive the growth of the Small Satellite Market.



    Small Satellite Market Segment Analysis – By Type

    By Type, the Small Satellite Market is segmented into Mini-Satellite, Micro-Satellite, Nano-Satellite, Pico-Satellite, Femto-Satellite and Other. The Mini-Satellite is estimated to hold the highest share of 33.5% in 2020, owing to the advantageous features, including miniaturized design, travel at high speeds and remote sensing technology. In addition, affordable development solutions of Nano-Satellite technology makes them a suitable option to deliver superior solutions for communications. In February 2021, Fleet Space Technologies, an Australian nanosatellite company is set to launch its fifth nanosatellite, Centauri 3. The Centauri 3 is Fleet Space’s fifth and most advanced Commercial Nanosatellite, designed to power up a global network of connected devices deployed worldwide. Increasingly, these miniaturized spacecraft provide lucrative opportunities to most business enterprises to accelerate the growth of the Small Satellite Market.



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    Small Satellite Market Segment Analysis – By Application

    By Application, Small Satellite Market is segmented into IoT/M2M, Communication, Earth Observation & Meteorology, Military & Intelligence, Scientific Research & Exploration, Weather and other. The communication segment held the major share of 22.2% in 2020 in the Small Satellite Market, due to the successful introduction of game-changing software for the satellite communication industry along with new business opportunities to expand remote location operation and real-time asset monitoring. In March 2020, a leading provider of next generation content connectivity solutions, NOVELSAT announced a comprehensive solution for mission critical satellite communications. The solution by Novelsat is designed to deliver highest levels of transmission security, resilience and robustness, with a comprehensive wide-ranging security suit, including, transmission security (TRANSEC), communication security (COMSEC), low probability of detection (LPD) and low probability of interception (LPI). Therefore, the growing demand for optimum levels of security and protection for business operations and other mission critical communications of across defense, security and government is estimated to drive the Small Satellite Market.



    Small Satellite Market Segment Analysis – By Geography

    North America is estimated to hold the largest market share of 45.7% in 2020, along with Europe, owing to the eminent requirement for responsive defense forces, massive investments for breakthrough custom-designed satellites, along with rigorous commercial services demand for satellite bandwidth and network solution. The industry is poised to continue its rapid growth as SpaceX and others put up constellations of thousands of satellites intended to serve areas without access to broadband. In order to deliver beta testers download speeds, and robust internet coverage from space, worldwide, in May 2019, Elon Musk's SpaceX launched another 60 Starlink internet satellites into Earth’s orbit. The proposal of SpaceX's satellite internet was initiated in 2018, with the successful launch of the two Starlink test craft, known as TinTinA and TinTinB, designed to transfer huge amounts of information rapidly in comparison to fiber-optic cable. Thus, the Small Satellite industry is poised to grow as large scale space organizations are offering “space as a service” to enable business enterprises with accessibility to data, specific to business requirements. Simultaneously, the market of Small Satellite is witnessing potential growth in Asia Pacific region, owing to the digitalization across industries and vast majority of demonstrative space debris clearance service. In March 2021, Astroscale, a Japan-UK based company launched a mission aimed at removal of debris from Earth's orbit. With Elsa-d, a small satellite under the "End-of-Life Services" offerings by Astroscale, the mission was developed for a space debris removal system. Therefore, the significant intended areas to serve by the lower-cost satellite technologies and surging demand for Earth observation satellites in these regions are estimated to drive the Small Satellite Market.



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    Small Satellite Market Drivers

    Popularity of M2M Satellite Communication

    The M2M Satellite Communication technologies are majorly driven by the potential launches of cloud-based solutions, and growing demand from various end-users to expand their business reach globally, are estimated to drive the Small Satellite Market. In addition, rugged, superior and cost-effective Satellite Terminals and telematics devices are becoming a part of the present-day comprehensive fleet management solution, which also boost the market growth. In December 2020, the leading GPS Tracking Systems provider, Rewire Security launched GPS & Telematics software for fleets. The latest software by Rewire enables enterprise owners to generate the location of vehicles in real-time, monitor fleet driver behaviour, observe driver route history and other GPS & Telematics software features. Based on the increasing needs of visibility across the transportation sectors, in October 2020, ORBCOMM, a global provider of Internet of Things (IoT) solutions, launched ST 2100, a state-of-the-art satellite communications device that enables solution providers for seamless Satellite connectivity to IOT applications, and also several other targeted verticals, such as fleet management and utility. Thus, the latest versatile Communication device launches and power-efficient platforms, such as Satellite Antenna for maximum reliability and security drive the growth of the Small Satellite Market.



    Potential demand for Maritime Satellite Communication solution

    The promising requirements to seek enhanced and reliable connectivity between the land and sea operations, along with VSAT connectivity for on-board security and surveillance of shipping industry influence the demand of Maritime Satellite Communication platforms, thereby drive the growth of the Small Satellite Market. The technology innovations across maritime sectors are expanding due to the introduction of gyro-stabilized ground terminals, Minisatellite platforms and multi-frequency dish antennas to reduce the time lag during data transfer. In April 2019, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, ZTE, announced the collaboration with Zhejiang Branch of China Mobile to launch “Heweitong”, a marine broadband satellite solution. The Heweitong offers seamless extension of the mobile network to the ocean, and mitigate other issues, such as high cost, poor coverage and slow data rate. Therefore, the growing emergence of new marine communication with ubiquitous connection for exceptional service is estimated to drive the Small Satellite Market.



    Small Satellite Market Challenges

    Compatible Issue

    The Small Satellites are designed to deliver advantageous services and indubitably, there are several successful launches around the globe and other possible space missions that eventually supported the mass production of platforms such as the CubeSat for upgraded communications role. However, small satellites are not compatible with every kind of operation due to being launched in lower orbits and also, tend to have a shorter lifespan. The design lasts for a year as it gets orbital decay due to the other orbital elements in space. Moreover, the available space is very limited, which is a major concern along with other mentioned design flaws, which hinder the growth of the Small Satellite Market.



    Small Satellite Market Landscape

    Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Small Satellite Market. The Small Satellite top 10 companies include Airbus SE, BAE Systems plc, Dauria Aerospace, L3Harris Technologies, Inc., Lockheed Martin, Magellan Aerospace, Maxar Technologies Inc., Northrop Grumman, ORBCOMM Inc., Rocket Lab, Park Aerospace Corp., Sierra Nevada Corporation, Aerospace Corporation, Space Flight Laboratory and many more.



    Acquisitions/Technology Launches/Partnerships

    In April 2021, the Norwegian Space Agency announced the successful launch of the NorSat-3 maritime tracking microsatellite built by Space Flight Laboratory (SFL), a premier microspace organization and provider of low-cost microsatellites and nanosatellites, in Toronto. The NorSat-3 maritime tracking is designed for space-based maritime traffic monitoring.

    In April 2020, the Defense Advanced Research Projects Agency, DARPA awarded Lockheed Martin a $5.8 million contract for the Blackjack program, a satellite integration operation. The Blackjack is a project of DARPA to deploy a constellation of 20 satellites in low Earth orbit by the year 2022 to generate global high-speed communications.

    In March 2020, Rocket Lab, a private American aerospace manufacturer and small satellite launch service provider signed an agreement to acquire Sinclair Interplanetary, a Toronto-based satellite hardware company. The acquisition is developed to deliver reliable and flexible satellite and launch solutions.



    Key Takeaways

    North America is estimated to hold the largest market share of 45.7% in 2020, owing to the eminent requirement for responsive defense forces, massive investments for breakthrough custom-designed satellites, along with rigorous commercial services demand for satellite bandwidth and network solution.

    The M2M Satellite Communication technologies are majorly driven by the potential launches of cloud-based solutions is estimated to drive the market.

    The promising requirements to seek reliable connectivity between the land and sea operations, along with VSAT connectivity for on-board security, drive the market growth.



    Related Reports:



    A. Satellite Manufacturing Market

    https://www.industryarc.com/Report/19397/satellite-manufacturing-market.html



    B. Satellite Network Equipment Market

    https://www.industryarc.com/Report/19400/satellite-network-equipment-market.html



    For more Aerospace and Defense Market reports, please click here



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    IndustryARC

    Venkat Reddy

    (+1) 970-236-3677

    venkat@industryarc.com

    Source: EmailWire.Com

    Source: EmailWire.com

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