Small Satellite Market to Reach $15.69 Bn, Globally, by 2026 at 20.1% CAGR: Allied Market Research

PORTLAND, Oregon, Sept. 2, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Small Satellite Market by Type (Minisatellite, Microsatellite, Nanosatellite, Pico-Satellites, and Femto Satellites), Application (Imaging and Earth Observations, Satellite Communications, Science & Explorations, Technology Development, and Space Situational Awareness), and End-User (Civil & Commercial and Government & Defense): Global Opportunity Analysis and Industry Forecast, 2019-2026." As per the report, the global small satellite industry garnered $3.63 billion in 2018, and is estimated to reach $15.69 billion by 2026, growing at a CAGR of 20.1% from 2018 to 2026.

https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Surge in demand for high-resolution imaging services and technological advancements drive the growth of the global small satellite market. However, lack of dedicated small satellite launch vehicles hinders the market growth. On the other hand, high demand from emerging economies and increase in government investments create new opportunities in the industry.

The microsatellite segment to contribute to the highest share during the forecast period

Based on product type, the microsatellite segment accounted for the major share, contributing to more than one-third of the global small satellite market. This is due to companies operating large satellites are looking for lighter and cost-effective platforms. However, the nanosatellite segment is expected to register the highest CAGR of 20.7% from 2018 to 2026.

Get Sample Report for More Details: https://www.alliedmarketresearch.com/request-sample/1951

The imaging and earth observation segment to dominate by 2026

Based on application, the imaging and earth observation segment held the highest share in terms of revenue in 2018, contributing to more than one-third of the total small satellite market. This is due to the significant increase in demand for small satellites in imaging application from the U.S., Russia, and China. However, the satellite communication segment would register the fastest growth rate, with a CAGR of 20.4% from 2018 to 2026.

The civil & commercial segment to retain its dominant position by 2026

Based on end-user, the civil & commercial segment held the highest share in terms of revenue in 2018, contributing to more than three-fifths of the total small satellite market. This is due to their low cost and lightweight. There has been an increased demand for these satellites in LAMEA, and Asia. Furthermore, this segment would register the fastest growth rate, with a CAGR of 20.2% from 2018 to 2026.

Inquire more about this report: https://www.alliedmarketresearch.com/purchase-enquiry/1951

North America to maintain its leadership status by 2026

Based on region, Asia-Pacific is estimated to grow at the highest CAGR of 20.5% from 2018 to 2026, owing to the presence of countries such as China, India, and Japan. On the other hand, North America accounted for more than half of the total small satellite market in 2018. This is attributed to the presence of key players, the presence of all the companies of the value chain so less dependency on imports, and high demand for imaging and earth observation application.

Players grabbing the largest pie

    --  Sierra Nevada Corporation
    --  Lockheed Martin Corporation
    --  Airbus S.A.S.
    --  Northrop Grumman Corporation
    --  L3Harris Technologies, Inc.
    --  The Aerospace Corporation
    --  Planet Labs Inc.
    --  Boeing
    --  Thales Group
    --  GomSpace
    --  Blue Canyon Technologies

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

Commercial Satellite Imaging Market Expected to Reach $8,109.8 Million by 2026

Satellite Market Growth Analysis and Emerging Trends in the Industry by 2026

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com

Web: https://www.alliedmarketresearch.com

View original content:http://www.prnewswire.com/news-releases/small-satellite-market-to-reach-15-69-bn-globally-by-2026-at-20-1-cagr-allied-market-research-300910132.html

SOURCE Allied Market Research