In-depth Market Study: Small Satellite Market Analysis by Region and End-use

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In-depth Market Study Small Satellite Market
Analysis by Region and End-use (2023 2028)
The report "Small Satellite Market by Mass (Small
Satellite, CubeSat), Application, Subsystems
(Satellite Bus, Payload, Solar Panel, Satellite
Antenna), Frequency, End- use (Commercial,
Government Defence, Dual-use), Orbit and Region
- Global Forecast to 2028." The small satellite
market is estimated at USD 3.2 billion in 2023
and is projected to reach USD 7.0 billion by
2028, at a CAGR of 16.8 from 2023 to
2028. The increasing capabilities of small
satellites through the integration of
the latest hi-tech and commercial-off-the-shelf
electronic circuits will further boost the demand
for such satellites at a rapid pace in the coming
years. Download PDF Brochure _at_ https//www.markets
andmarkets.com/pdfdownloadNew.asp?id150947396 Com
mercial segment is expected to account for the
largest share in 2023. By End-use, the small
satellite market is segmented into commercial,
government defense and dual use. The
Commercial segment is expected to account for the
largest share the small satellite market by the
end-user. One of the main factors boosting the
market for small satellites is the reduced in
launch costs. The cost of launching a satellite
into orbit used to be extremely high, sometimes
costing over 100 million. The new launch firms
like SpaceX and Rocket Lab have significantly
reduced the cost of placing small satellites
into orbit. Small satellite constellation
development has developed as a result of the
decrease in cost for enterprises to launch small
satellites. The growth of the satellite
operators/owners segment is due to rising
investments from the private sector in space
research and satellite communication
services. The Satellite bus segment held the
largest market share in the small satellite
market. By Subsegment, the small satellite market
has been segmented into satellite bus, payload,
solar panel, satellite antenna and others.
Satellite bus segment to hold the largest market
share. The Satellite bus segment demand is
influence by the adoption of the small satellite
for various applications such as earth
observation, communication, research etc.
Overall, it is anticipated that the small
satellite bus
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segment market would expand and diversify over
the coming years as new technologies and
applications are introduced. The LEO segment of
the small satellite market by orbit is projected
to dominate the market. The small satellite
marketed based on the orbit is segmented into the
LEO, MEO, GEO and others. The Low Earth Orbiting
(LEO) Segment holds the major market share of
the small satellite market by orbit segment. GEO
Segment to hold the highest growth rate over the
forecast period. Growing demand for high-speed
and low-latency communication and increased
satellite and spacecraft launches in LEO are
primarily driving this segment. North America is
expected to account for the largest share in
2023. The small satellite market industry has
been studied in North America, Europe, Asia
Pacific, Middle East Africa, and Latin America.
The North America region to account for the
largest market share. The market in North
America is being driven by increasing NASA
Research and Development initiatives and rising
military spending on surveillance missions. Key
Market Players Major players operating in the
small satellite market Sierra Nevada Corporation
(US), L3Harris Technologies (US), Lockheed
Martin Corporation (US), Northrop Grumman
Corporation (US), and Airbus Defence and Space
(Germany) are some of the market players. Ask
for Sample Report _at_ https//www.marketsandmarkets.
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