Small Satellite Market Projected to Reach $7.0 Billion by 2028

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RESOURCE CENTER ABOUT MNM HOME (/) PRESS
RELEASES (/PRESS-RELEASE-2.HTML) Small Satellite
Industry worth 7.0 billion by 2028 GLOBAL TOP
2000 STRATEGIST RELY ON US FOR THEIR GROWTH
STRATEGIES. KNSOWmMaOlRlESa(t/KenlolwitleedgIensto
dreu.asspt)ry worth 7.0 billion by 2028 VIEW
FULL TABLE OF CONTENTS (HTTPS//WWW.MARKETSANDMARK
ETS.COM/MARKET-REPORTS/SMALL- SATELLITE-MARKET-15
0947396.HTML) METHODOLOGY (HTTPS//WWW.MARKETSAND
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(/PDFDOWNLOADNEW.ASP?ID150947396) The report
"Small Satellite Market (https//www.marketsandmar
kets.com/Market-Reports/small-satellite-
market-150947396.html) 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. Browse 307
market data Tables and 47 Figures spread through
327 Pages and in-depth TOC on "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 " View detailed Table of Content here -
https//www.marketsandmarkets.com/Market-Reports/s
mall-satellite- market-150947396.html
(https//www.marketsandmarkets.com/Market-Reports/
small-satellite-market- 150947396.html) Commercia
l 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
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ment is expected to account for the largest share
in 2023. atellite market is segmented into
Communication, Earth Observation, Education,
mall satellite market's Earth observation segment
is witnessing strong growth b(/)ecause it
provides cost-efficient, frequent data collection
for diverse industries. Small satellites offer
high- resolution imagery, benefiting businesses
in agriculture, environmental monitoring, and
disaster management.
Earth Observation seg By Application, the small s
Technology, Others. The s
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These capabilities enhance decision-making,
resource optimization, and risk reduction.
Consequently,
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businesses are increasingly investing in small
satellite-based Earth observation solutions,
fostering market growth and innovation
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 segment
market would expand and diversify over the
coming years as new technologies and applications
are introduced. The Ku-band segment of the small
satellite market by Frequency is projected to
dominate the market. The small satellite marketed
based on the frequency is segmented into the
L-band, S-band, C-band,X-band, Ku-band, Ka-band,
Q/V-band, HF/VHF/UHF-band, Laser/Optical. KU-band
offers high data transmission capabilities in a
compact form, making it ideal for broadband
internet, remote sensing, and Earth observation
services. KU-band's ability to efficiently meet
the increasing demand for connectivity and data
while accommodating miniaturized satellite
designs positions it as a prime choice for
lucrative business opportunities in the thriving
small satellite sector. 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
(https//www.marketsandmarkets.com/PressReleases/l
eo-satellite.asp)) 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. 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. Dont miss out on business opportunities
in Small Satellite Market. Speak to our analyst
and gain crucial industry insights that will
help your business grow. (https//www.marketsandm
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