Small Satellite Market

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Small Satellite Market by Type, End
User, Application and Region - Global Forecast to
2022 MarketsandMarkets
The report "Small Satellite Market by Type
(Nanosatellite, Microsatellite,
Minisatellite), (Civil, Commercial),
End
User Defense, Application
(Earth
Observation Meteorology,

Communication,
Scientific Research Exploration), and
Region - Global Forecast to 2022", The small
satellite market is estimated to grow from 2.92
Billion in 2017 to 7.53 Billion by 2022, at
a CAGR of 20.83 during the forecast period.
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Key factors such as increasing focus on reducing
mission costs, rise in demand for
earth observation related activities, satellite
miniaturization, and satellite cost reduction
are expected to fuel the growth of the small
satellite market.
Based on type, the minisatellite segment is
expected to lead the small satellite market
during the forecast period
Based on type, the minisatellite segment is
estimated to lead the small satellite
market during the forecast period, as these
satellites can be used for high precision and
complex space missions such as remote sensing,
navigation, maritime and transportation management
, space earth observations, disaster
management, military intelligence, telecommunicati
ons, and other academic purposes.
The earth observation meteorology application
segment is estimated to lead the small satellite
market during the forecast period
Based on application, the earth observation
meteorology segment is estimated to lead the
small satellite market during the forecast
period. Small satellites are capable
of monitoring natural or manmade disasters, such
as cyclones, earthquakes, landslides, and
environmental pollution, among others. Small
satellites have computational and
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communication capabilities, along with
competencies in taking decisions about which data
to be sent and when.
North America is projected to account for the
largest share of the small satellite market in
2017
North America is estimated to lead the small
satellite market in 2017. Increasing interest
in small satellites due to their low
cost,
advanced
mechanics, and ease of assemble and launch
has led to a rise in
venture
capital-backed funding for small satellites in
the region. The small satellite market in the
North American region is expected to witness high
growth during the forecast period.
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Key Market Players
Boeing (U.S.), Airbus Defense and Space (France),
OneWeb (U.S.), Planet Labs (U.S.), Space
Exploration Technologies Corporation (U.S.),
Sierra Nevada Corporation (U.S.), and Surrey
Satellite Technology (U.K.), among others, are
the major players in the small satellite market.
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