Published on : Feb 08, 2017
ALBANY, New York, Feb 08, 2017: The research report, titled “Global Small Satellite Industry 2017, Trends and Forecast Report,” provides a thorough outlook of the dynamics governing the small satellite industry. It document highlights the trends and forecasts the trajectory of the industry for the near future. Additionally, it also contains and assessment of the strengths, weaknesses, opportunities, and threats governing the segments of the global small satellite industry. It also points out the intensity amongst the players in the market and the threat to the new entrants.
The growing demand for observation of the Earth for various purposes is the primary growth driver for the global small satellite market. The research reveals that uptake of small satellites is expected to go up in the coming years as governments across the world are investing in understanding the topography of their lands in absolute detail. Furthermore, the demand for small satellites is also expected to gain momentum as the need for communication intensifies. The growing usage of GPS systems is also estimated to a play a key role in determining the trajectory of the global market. Activities such as space observation and technology demonstration are also anticipated to boost the overall market in the coming years.
The widening application of small satellites has also proved to be beneficial to the soaring revenues of the global market. Today, small satellites are being increasingly used for disaster management to investigate the extent of damage, impact of changing climatic conditions, and monitoring the environment. The report also points out that small satellites are used for agricultural purposes, infrastructural planning, and for security reasons. The rising demand for small satellites from various end users and the ongoing miniaturization of satellites is expected to favor market’s growth in the coming years. Developments in the fields of space science, communication services, and changing weather patterns are said to be the potential areas for adoption of small satellites in the near future.
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The global small satellite industry is segmented into regions such as North America, Europe, Asia Pacific, and Rest of the World. Presently, North America leads the pack due to ongoing technological advancements in the region, growing investments in research and development, and an inclination towards modernization. Analysts anticipate that Europe and Asia Pacific will follow North America’s lead in the coming years.
The key players operating in the global small satellite industry are Boeing Co., Aerospace Corp., Airbus Defence and Space, GeoOptics Inc., Harris Corporation, Millennium Space Systems, Lockheed Martin Corp., Sierra Nevada Corporation, Spire Global Inc., and SpaceX. The research report profiles these players and provides a complete understanding of the competitive landscape present in the global small satellite industry. The analysts have pointed out the potential research and development activities of these players and their plans for strategic merger and acquisitions for the coming years. The report contains recommendations from expert leaders that authenticates the information.
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