The global small satellite market has witnessed significant growth in the recent years, owing to the increase in demand of Earth observation services. High-resolution imaging services are used to monitor assets by various industries such as defense, energy, oil & gas, media & entertainment, and others. Decreasing costs, reduced weight, and lesser complexities associated with small satellites along with supply of enhanced power and efficiency have supplemented the growth of the small satellite market. Technological advancements and increase in government investments in small satellites are expected to further drive the small satellite industry growth. However, lack of dedicated launch vehicles for small satellites is expected to restrict the growth of the small satellite market. Rise in number of application areas of small satellites and growth in demand in emerging economies of Asia-Pacific and LAMEA are anticipated to provide numerous growth opportunities in the future. Asia-Pacific is one of the prominent geographical regions that is rapidly adopting small satellites for Earth observation services, due to the increasing natural disasters, growth in the agricultural sector, and high government investment in the defense sector. Images obtained by the satellite are used for land distribution, rescue work, natural resource management, environmental protection, disaster prevention, forestry, and others.
Several developments by players in the global small satellite market and governments worldwide have supplemented the growth of the market. NASA is in a process to establish a Small Spacecraft Virtual Institute at Ames Research Center by 2017 to promote technical knowledge related to small spacecraft technology fields. It will also promote relevant programs, guidance, and opportunities associated to smallsat missions. The National Geospatial-Intelligence Agency (NGA) has awarded a contract worth $20 million to Planet Labs, a startup involved in developing a constellation of imagery smallsats in LEO. This contract will enable NGA to acquire high-resolution imagery for augmenting higher resolution capabilities, environmental monitoring, and change detection. In September 2016, the National Oceanic and Atmospheric Administration (NOAA) awarded contracts to GeoOptics, Inc. and Spire Global, Inc., major smallsat-constellation operators in the small satellite industry. These contracts will enable NOAA to gain access to space-based, radio-occultation data to deliver high-quality and accurate weather forecasts and warnings. In January 2015, Fidelity and Google invested $1 billion in SpaceX to enable the company to develop its own constellation of Internet-beaming satellites. In the same month, OneWeb announced that it would develop a constellation of 648 smallsats with capability of supplying Internet to points on the ground below, which is set to be launched by 2018. Boeing is collaborating with SpaceX and OneWeb to launch a constellation of hundreds of small satellites into LEO to expand broadband access. The launch of around 3,000 satellites into the LEO would be possible after the acquisition of license from the U.S. Federal Communications Commission (FCC), which was applied in June 2016.
The global small satellite market is segmented into type, application, end user, and geography. Based on type, the market is divided into minisatellites, microsatellites, and nanosatellites. Based on application, it is classified into Earth observation, telecommunication, scientific research & experimentation, and technology demonstration. On the basis of end user, it is categorized into defense, commercial, civil, and government. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
This report provides an in-depth analysis of the global small satellite market to identify the potential investment pockets.
It outlines the current trends and future scenario of the global small satellite market from 2016 to 2022 to understand the prevailing opportunities and investment pockets.
The key drivers, restraints, and opportunities along with their detailed impact analyses have been elucidated.
Porter’s Five Forces model analysis illustrates the impact of factors such as threat of new entrants, threat of substitutes, strength of the buyers, and strength of suppliers on the small satellite industry growth.
The quantitative analysis of the global small satellite market size from 2014 to 2022 is provided in the report to elaborate the market potential.
KEY MARKET SEGMENTS
The small satellite market is segmented on the basis of type, application, end user, and geography.
Scientific Research & Experimentation
BY END USER
Rest of Europe
Rest of Asia-Pacific
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models
Chapter 2 Executive Summary
2.1. CXO Perspective
Chapter 3 Market Overview
3.1. Market Definition
3.2. Key Findings
3.2.1. Top Factors Impacting The Market
3.2.2. Top Investment Pockets
3.2.3. Top Winning Strategies
3.3. Porters Five Forces Analysis
3.3.1. Moderate Bargaining Power Of Suppliers
3.3.2. Low Bargaining Power Of Buyers
3.3.3. Low Threat Of Substitution
3.3.4. Moderate Threat Of New Entrants
3.3.5. Moderate Competitive Rivalry
3.4. Market Player Positioning, 2015
3.5. Market Dynamics
22.214.171.124. High Demand For High-Resolution Imaging Services
126.96.36.199. Technological Advancements
188.8.131.52. Low Cost And Diversified Scope Of Applications
184.108.40.206. Lack Of Dedicated Small Satellite Launch Vehicles
220.127.116.11. High Demand Among Emerging Economies
18.104.22.168. Increase In Government Investments
Chapter 4 Small Satellite Market, By Type
4.1.1. Market Size And Forecast
4.2.1. Key Market Trends
4.2.2. Key Growth Factors And Opportunities
4.2.3. Market Size And Forecast
4.3.1. Key Market Trends
4.3.2. Key Growth Factors And Opportunities
4.3.3. Market Size And Forecast
4.4.1. Key Market Trends
4.4.2. Key Growth Factors And Opportunities
4.4.3. Market Size And Forecast
Chapter 5 Small Satellite Market, By Application
5.1.1. Market Size And Forecast
5.2.1. Key Market Trends
5.2.2. Key Growth Factors And Opportunities
5.2.3. Market Size And Forecast
5.3. Earth Observation
5.3.1. Key Market Trends
5.3.2. Key Growth Factors And Opportunities
5.3.3. Market Size And Forecast
5.4. Scientific Research & Exploration
5.4.1. Key Market Trends
5.4.2. Key Growth Factors And Opportunities
5.4.3. Market Size And Forecast
5.5. Technology Demonstration
5.5.1. Key Market Trends
5.5.2. Key Growth Factors And Opportunities
5.5.3. Market Size And Forecast
Chapter 6 Small Satellite Market, By End User
6.1.1. Market Size And Forecast
6.2.1. Key Market Trends
6.2.2. Key Growth Factors And Opportunities
6.2.3. Market Size And Forecast
6.3.1. Key Market Trends
6.3.2. Key Growth Factors And Opportunities
6.3.3. Market Size And Forecast
6.4.1. Key Market Trends
6.4.2. Key Growth Factors And Opportunities
6.4.3. Market Size And Forecast
6.5.1. Key Market Trends
6.5.2. Key Growth Factors And Opportunities
6.5.3. Market Size And Forecast
Chapter 7 Small Satellite Market, By Geography
7.1.1. Market Size And Forecast
7.2. North America
7.2.1. Key Market Trends
7.2.2. Key Growth Factors And Opportunities
7.2.3. Market Size And Forecast
7.3.1. Key Market Trends
7.3.2. Key Growth Factors And Opportunities
7.3.3. Market Size And Forecast
7.3.7. Rest Of Europe
7.4.1. Key Market Trends
7.4.2. Key Growth Factors And Opportunities
7.4.3. Market Size And Forecast
7.4.7. Rest Of Asia-Pacific
7.5.1. Key Market Trends
7.5.2. Key Growth Factors And Opportunities
7.5.3. Market Size And Forecast
7.5.4. Latin America
7.5.5. Middle East
Chapter 8 Company Profiles
8.1. Sierra Nevada Corporation
8.1.1. Company Overview
8.1.2. Business Performance
8.1.3. Key Strategic Moves And Developments
8.2. Lockheed Martin Corporation
8.2.1. Company Overview
8.2.2. Business Performance
8.2.3. Key Strategic Moves And Developments
8.3. Airbus Defense And Space
8.3.1. Company Overview
8.3.2. Business Performance
8.3.3. Key Strategic Moves And Developments
8.4. Northrop Grumman Corporation
8.4.1. Company Overview
8.4.2. Business Performance
8.4.3. Key Strategic Moves And Developments
8.5. Harris Corporation
8.5.1. Company Overview
8.5.2. Business Performance
8.5.3. Key Strategic Moves And Developments
8.6. Aerospace Corporation
8.6.1. Company Overview
8.6.2. Business Performance
8.6.3. Key Strategic Moves And Developments
8.7. Planet Labs Inc.
8.7.1. Company Overview
8.7.2. Business Performance
8.7.3. Key Strategic Moves And Developments
8.8. The Boeing Company
8.8.1. Company Overview
8.8.2. Business Performance
8.8.3. Key Strategic Moves And Developments
8.9. Surrey Satellite Technology Ltd.
8.9.1. Company Overview
8.9.2. Business Performance
8.9.3. Key Strategic Moves And Developments
8.10. Thales Group
8.10.1. Company Overview
8.10.2. Business Performance
8.10.3. Key Strategic Moves And Developments
The global small satellite market is driven by the increase in need to reduce costs related to space missions. Organizations around the world are investing in small satellite market for imaging and communication services. However, lack of dedicated launchers for small satellites and privacy of data related to Earth observation limit the small satellite industry growth. Application of small satellites across diverse sectors such as defense, civil, commercial, and government is expected to present numerous opportunities for market growth.
Among the various types of small satellites, minisatellites accounted for a major market share in 2015, owing to their widespread application, ease of use, and ability to perform similar functions as medium and large satellites. The minisatellite market is expected to generate $3,012 million by 2022, registering a CAGR of 17.4%. The nanosatellite market is expected to register a high growth rate due to their low cost, lightweight nature, ease of building and development, and high capability of performing complex computational tasks. CubeSats, which are increasingly being used by academia and research, have supplemented the growth of the small satellite industry.
Earth observation accounts for the largest share in the small satellite market, and is expected to generate $4,045 million in 2022, growing at the highest CAGR of 21.3%. High demand for satellite imagery in the government sector, including federal agencies, local, and state governments for urban planning, border mapping, infrastructure security, and homeland security, has increased the adoption of small satellites in the market.
Various end users, including defense, government, commercial, and civil sectors, use small satellites to improve infrastructure and offer enhanced services to users. In 2015, the commercial sector accounted for the largest share in the global small satellite market size, and is estimated to $3,601 million by 2022, registering a CAGR of 21.3% during the forecast period. This is attributable to the reduced cost and weight associated with small satellites, in addition to investments by small and medium enterprises, and startups in the market.
North America generated the highest revenue in the market in 2015, accounting for $819 million, and is projected to reach $2,643 million by 2022, registering a CAGR of 18.3%. This is due to rise in applications of small satellites in agriculture, real estate, defense, and government sectors in the North American region. Increasing investment in the defense sector, along with technological advancement in telecommunication industry have boosted the small satellite market growth during the forecast period in the region.
Key Findings of the Small Satellite Market:
In 2015, Earth observation application accounted for the major share in the global small satellite market, in terms of revenue, and is projected to grow at a CAGR of 21.3% during the forecast period.
The commercial sector generated the highest revenue in 2015.
In 2015, North America generated the highest revenue in the market.
Asia-Pacific is expected to grow at the highest CAGR of 22.1%.
The well-known companies profiled in the report include Sierra Nevada Corporation, Lockheed Martin Corporation, Airbus Defense and Space, Northrop Grumman Corporation, Harris Corporation, Aerospace Corporation, Planet Labs Inc., The Boeing Company, Thales Alenia Space, and Surrey Satellite Technology Ltd. These companies consistently launch products and explore novel technologies to meet the customers increasing needs and requirements. Rise in investments for R&D by private and public organizations involving product innovation and development of customized solutions has been also observed.
- Sierra Nevada Corporation
- Lockheed Martin Corporation
- Airbus Defense and Space
- Northrop Grumman Corporation
- Harris Corporation
- Aerospace Corporation
- Planet Labs Inc.
- The Boeing Company
- Surrey Satellite Technology Ltd.
- Thales Group