Small Satellite Market over the Next Five Years – Market Research Report

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Small Satellite Market over the Next Five Years
Market Research Report
The Small Satellite Market is estimated to be
USD 2.92 billion in 2017 and is projected to
reach USD 7.53 billion by 2022, at a CAGR of
20.83 during the forecast period. Increasing
focus on reducing mission cost, satellite
miniaturization, and rise in demand for earth
observation related activities are expected to
drive the small satellite market Get 10 Free
Customization _at_ https//www.marketsandmarkets.com/
requestCustomizationNew.asp?id150947396 This
report provides an analysis of the small
satellite market over the next five years. It
discusses industry and technological trends that
are currently prevailing in the market. The
report analyses factors driving and restraining
the growth of the small satellite market as well
as challenges faced by this market. The small
satellite market is estimated to be USD 2.92
billion in 2017 and is projected to reach USD
7.53 billion by 2022, at a CAGR of 20.83 during
the forecast period. Key factors such as
increasing focus on reducing mission cost,
satellite miniaturization, and rise in demand for
earth observation related activities are
expected to fuel the growth of the small
satellite market. Based on type, the
nanosatellite segment of the small satellite
market is projected to witness the highest
growth during the forecast period. Rapid
advancements in miniaturization of the space
technology have made nanosatellites economically
and potentially more viable for their widespread
use in commercial, civil, government, and
military applications. Decline in the cost of
such satellites, increasing demand and increase
in the number of application areas of small
satellites, growth in investments, and superior
mission launches are expected to fuel the demand
for small satellites. Based on end user, the
commercial segment of the small satellite market
is projected to witness the highest growth
during the forecast period. Small satellites help
commercial companies to gather global real-time
data and distribute it at a surprisingly low
price to their customers across the globe.
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Based on application, the earth observation
meteorology segment of the small satellite market
is anticipated to grow at the highest CAGR
during the forecast period. Successful programs
to develop and examine advanced hyper-spectral
imaging systems compatible with satellites have
enabled earth observation meteorology missions
to generate high-quality complex images. The
small satellite market in North America is
expected to witness the highest growth during the
forecast period, due to increasing participation
of private players in small satellite development
and rising demand for small satellites for use
in earth observation related applications. Get
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