North America's Small Satellite Frontier Leading the USD 7.0 Billion Market Expansion

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North America's Small Satellite Frontier
Leading the USD 7.0 Billion Market Expansion
The Small Satellite Market is on a trajectory of
rapid growth, with an estimated valuation of USD
3.2 billion in 2023. This market is projected to
reach a staggering USD 7.0 billion by 2028,
showcasing a compelling Compound Annual Growth
Rate (CAGR) of 16.8 from 2023
to 2028. This phenomenal expansion is
underpinned by several key factors, including
the integration of cutting-edge technology and
the adoption of commercial-off-the-shelf
electronic circuits in small satellite
development. The market research, conducted over
327 pages, comprising 307 data tables and 47
figures, offers an in-depth analysis of the
small satellite market. It covers various
aspects, including mass (small satellite,
CubeSat), application, subsystems (satellite bus,
payload, solar panel, satellite antenna),
frequency, end-use (commercial, government
defense, dual use), orbit, and regional
perspectives. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id150947396 Commercial Dominance Among the
end-use segments, the commercial sector is poised
to capture the largest share of the small
satellite market in 2023. A significant catalyst
for this growth is the substantial reduction in
launch costs. Historically, launching satellites
into orbit incurred exorbitant expenses, often
exceeding 100 million. However, the emergence
of new launch companies such as SpaceX and Rocket
Lab have dramatically lowered the cost of
deploying small satellites into space. This cost
reduction has led to the development of small
satellite constellations, driven by increasing
investments from the private sector in space
research and satellite communication
services. Satellite Bus Leading the Way The
satellite bus segment stands out as the largest
market share holder among the various
subsystems. This dominance can be attributed to
the versatile applications of small satellites,
including earth observation, communication, and
research. As new technologies and applications
continue to emerge, the small satellite bus
segment is expected to expand and diversify in
the coming years.
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LEO Takes Centre Stage In the orbit segment, Low
Earth Orbit (LEO) small satellites are expected
to maintain their dominance in the market. Their
pivotal role in high-speed, low-latency
communication, coupled with the increasing number
of satellite and spacecraft launches in LEO,
drives this trend. Meanwhile, the Geostationary
Earth Orbit (GEO) segment is poised for the
highest growth rate, reflecting the growing
demand for specific applications. North
America's Lead Geographically, North America is
projected to command the largest market share in
2023. This dominance is attributed to NASA's
Research and Development initiatives and
increased military spending on surveillance
missions. Key Market Players Prominent players
in the small satellite market include Sierra
Nevada Corporation (US), L3Harris Technologies
(US), Lockheed Martin Corporation (US), Northrop
Grumman Corporation (US), and Airbus Defence and
Space (Germany). These companies are at the
forefront of innovation and are driving the
industry forward with their cutting-edge
technologies and solutions. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
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