According to Bis Research, The small satellite market analysis by BIS Research projects the market to grow at a significant CAGR of 14.15% by value and 14.28% by volume, during the forecast period from 2019 to 2030. North America dominated the global small satellite market at a share in 2018. Europe, including the major countries such as the U.K., Germany, Denmark, and Russia, are the most prominent countries for the small satellite market. During the forecast period, the Rest-of-the-World is anticipated to grow at the highest rate due to increasing requirement of affordable satellite to attain sustainability.

Small satellites are utilized by various end users such as academic, commercial, government, and defense. Academic end user segment mainly consists of the key educational institutes and universities which are developing their own small satellites for space exploration and scientific research. Commercial end users basically comprise the commercial industries, such as oil & gas, mining, agriculture, and more, which are utilizing small satellites for their product mapping and earth exploration. Government end users are the prominent space agencies which are operated, developed and launched by the government. Small satellites do not require a dedicated launching system, in fact, they are launched as secondary payloads with a primary satellite for a space mission, thus increasing their rate of penetration in the commercial as well as government sectors.

Small satellites are popular due to their small size, low cost, and light weight. Small satellites are utilized for varied applications such as communication, earth observation and remote sensing, space exploration, technology development and demonstration and surveillance. Technology demonstration and development has been the most common application of small satellites since its inception however, the trend is rapidly changing toward their adoption in other applications as well. Communication and earth observation and remote sensing are the most used applications for small satellites. It is mainly due to the fact that constellation of small satellites can collect data more frequently than the traditional satellites and is cost-effective. Moreover, satellite constellation can link among themselves enabling multiple satellite to perform the task and communicate with the ground stations.

The small satellite market is segregated by region under four major regions, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions (by end user, application, type and country) is also provided.

Key Companies in the Global Small Satellite Industry:

The key market players in the global small satellite market include BAE Systems, Planet Labs, SSTL, SSL, Innovative Solutions In Space BV, The Boeing Company, Tyvak Nano-Satellite Systems, Inc., Airbus S.A.S, Harris Corporation, Lockheed Martin Corporation, Thales Group, Northrop Grumman Corporation, OHB System, OneWeb, and QinetiQ Group PLC.

Competitive Landscape:

Presently, small satellites are being increasingly used for applications such as weather forecast, surveillance, earth observation, navigation, communication, meteorology, and other purposes. Of late, there has been an increased demand for efficient small satellite constellations for providing better connectivity for smart devices, Internet of Things (IoT), increased data analytics, and migration to streaming broadband.

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Key Questions Answered in this Report:

• What are the prime demand-side factors that affect the growth of the market and the current and future trends, market drivers, restraints, and challenges prevalent in the global small satellite market?
• What is the detailed analysis of value chain analysis and small satellite service market?
• Who are the key players present in the global small satellite market and how much is the detailed market share analysis of each player?
• How the market based on different end users such as commercial, government, academic, and defense is expected to grow, during the forecast period?
• How the global small satellite market analysis based on the application segment of small satellite in communication, earth observation and remote sensing, technology development and demonstration, space exploration and surveillance is expected to grow by 2030 and how was it during 2018.
• How the global small satellite market based on major geographies has been analyzed in the report for the major geographies including North America, Europe, Asia-Pacific, and Rest-of-the-World. How each geography is expected to grow and perform during the forecast period?

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