Small Satellites Market Size, Emerging Trends, Forecasts, and Analysis 2021-2026

Stratview Research has announced a new report on the Small Satellites Market. According to the report, the market plunged in 2016 mainly due to launch failures. It further dropped slightly in 2018 when compared to 2017, owing to the decline in the number of small satellite launches. However, the market witnessed a robust pace in 2020 especially due to the launch of the Starlink internet satellite by SpaceX. The COVID-19 outbreak had a negligible impact on the small satellites market due to the longer project timelines for launching and establishing services. However, the temporary halt of satellite production lines, postponement of launches, and limited availability of funding led to some turbulence amid the pandemic.

Market Segmentation
The Small Satellites Market is segmented by Type (Minisatellite, Microsatellite, Nanosatellite, and Picosatellite), by Application Type (Earth Observation, Technology Development, Communications, and Scientific), by Operator Type (Commercial, Government, Civil, and Military), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

According to the report, the market is segmented as minisatellite, microsatellite, nanosatellite, and picosatellite. The minisatellite is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Minisatellites are satellites weighing between 201-500 kg. These satellites are simpler and use similar technologies as larger satellites. SpaceX is the leading player in the minisatellite sector and is primarily employing these satellites for communication and broadband internet services.

Based on the application type, the market is segmented as earth observation, technology development, communications, and scientific. Communications are expected to remain the largest segment of the market during the forecast period. Rising demand for high-speed internet services coupled with growing digitalization across various verticals is augmenting the demand for smallsats, especially for communication purposes.

In terms of regions, North America is projected to remain the largest market for small satellites in the foreseen future. The USA is the pioneer in the smallsats market. In the year 2020, new small satellite launches in the USA grew six-fold from that of 2019-level, mainly driven by SpaceX’s Starlink constellation. Leading players, such as Planet Labs and SpaceX, are vertically integrated, having a stronghold from raw material procurement to the provision of internet services.

How stakeholders can benefit from this report –
This report covers a thorough analysis of the following segments:
- Small Satellites Market Dynamics.
- Market Size and forecast from 2021 till 2026.
- Supply & Demand Value Chain.
- Small Satellites Market Current Trends/Issues/Challenges.
- Competition & Companies involved.
- Effecting Technology.
- Small Satellites Market Drivers and Restraints.

Research Methodology
The report provides a thorough analysis that reflects today’s Small Satellites Market realities and future market possibilities. The information provided in the report can play a crucial role for the users as well as investors, or those who are planning to step into the industry, in formulating the growth strategies to expedite their growth process.
Experts at Stratview have compiled this report after following a detailed research methodology comprising secondary research, and primary interviews with industry stakeholders. Several authenticated sources such as company annual reports, fact books, press releases, white papers, and articles have been leveraged to gather the data.

Key Players
The following are the key players in the Small Satellites Market.

• SpaceX
• OneWeb Satellites
• Planet Labs Inc.
• Chang Guang Satellite Technology Co., Ltd.
• Kepler Communications Inc.
• Satellogic
• Spire Global
• Surrey Satellite Technology Ltd. (SSTL)
• Swarm Technologies, Inc.

Read More: https://www.stratviewresearch.com/1920/small-satellites-market.html

Report Customization Options
With this detailed report, Stratview Research also offers one of the following (complementary) customization options to our valued clients:
- Company Profiling -Detailed profiling of additional market players (up to three players)
- Competitive Benchmarking - Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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This release was published on openPR.