Explosive Growth Forecasted for Small Satellite Market by 2028

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Explosive Growth Forecasted for Small Satellite
Market - Expected to Reach 7.0 Billion by 2028
The Small Satellite Market is on an upward
trajectory, with a projected size of USD 7.0
billion by 2028, growing at an impressive
compound annual growth rate (CAGR) of 16.8
during the forecast period. This growth can be
attributed to the decreasing cost of
launching small satellites into orbit,
advancements in launch vehicle technology, and
the emergence of dedicated small satellite
launch providers. As the market expands, various
segments and regions are poised to play
pivotal roles in shaping its trajectory. Download
PDF Brochure _at_ https//www.marketsandmarkets.com/
pdfdownloadNew.asp?id150947396 Earth
Observation Drives Market Growth Among the
different applications of small satellites, the
earth observation segment is expected to account
for the largest market share. The increasing
utilization of earth observation satellites
across industry sectors, coupled with the
integration of digital data analysis and
geospatial data fusion, has contributed to the
significant growth in this segment. Small
satellites provide valuable data and imagery for
applications such as weather forecasting, crop
monitoring, and environmental surveillance,
making them indispensable in the field of earth
observation. Commercial and Military
Applications In terms of end-use, the commercial
segment is anticipated to dominate the small
satellite market. The expanding number of
internet services and mobile users, particularly
in 2022, will drive the demand for small
satellites in commercial applications.
Navigation, telecommunication, weather
forecasting, and other commercial uses of small
satellites will further fuel market growth.
Simultaneously, the military segment is expected
to witness dramatic expansion as satellites are
increasingly employed in surveillance operations.
The involvement of government space
organizations in small satellite development
initiatives will also contribute to the growth
of the government segment. CubeSat and Satellite
Bus Segments
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Among the mass segments, CubeSat is projected to
witness the highest CAGR during the forecast
period. CubeSats are gaining popularity for
research purposes in educational institutes and
serve as a platform for testing new technologies,
including propulsion systems, communication
systems, and navigation technologies. In the
subsystem segment, satellite buses hold the
highest market share. Satellite buses play a
vital role in enabling the development and
operation of small satellites by providing
standardized and cost-effective platforms that
can be easily customized for various
applications. Frequency Bands and Orbit
Segments The laser/optical band is projected to
dominate the small satellite market in terms
of frequency. With its high CAGR during the
forecast period, the laser/optical band offers
advantages such as high-speed data transfer,
enhanced connectivity, and short-range and
high-resolution imaging capability. Among orbit
segments, the Low Earth Orbiting (LEO) segment
holds the major market share. The demand for
launching CubeSats and small satellites to
achieve attitude and orbit control and orbital
transfers drives the growth of the LEO segment.
The increasing use of advanced payload
components in the space sector further fuels this
segment's expansion. North America at the
Forefront The North American region is projected
to contribute the largest share to the small
satellite market. With the United States leading
the market in North America, increased demand
for small satellite deployments and advancements
in digital satellites by NASA, the US Department
of Defense, and private players like SpaceX,
Sierra Nevada Corporation, and Lucix Corporation
are driving market growth. Successful launches
of flexible satellites have propelled the
region's space expeditions. Inquiry Before
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