The surge in need to cut-down price satellite launch price is noted to be the major factor that can underpin the fast-paced expansion of the global of low-cost satellite market.
The growing need for a successful and cost-effective modification in the satellite systems domain of aerospace is expected to pave way for the low-cost satellite to expand. Renowned companies dealing in space technologies are currently, focusing on devising the launch of lightweight and small satellite systems that can efficiently reduce satellite launch expenses. As a result, in the foreseeable future, several low-cost satellites could be observed in the lower and higher orbits in the space. Developing economies are showing a high interest in investing in the production of low-cost satellites. These satellites are equipped with electro-optical or infrared (EO/IR) sensors that assists in obtaining clear images from space. The global low-cost satellite market is expected to capitalize on these scopes mentioned above.
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MRFR enlisted some of the high profiled key players that are operating in the global market of low-cost satellite market. They include; SpaceX (US), Axelspace Corporation (Japan), Lockheed Martin Corporation (US), OneWeb (US), Planet Labs Inc. (US), OHB AG (Germany), Sierra Nevada Corporation (US), Geooptics Inc. (US), Spire Global Inc. (US), and Dauria Aerospace (Russia). The increase in competition among key players and deals signed among them are expected to benefit the market. Moreover, strategic investments by these companies can generate high turnover for the global market.
The low-cost satellite market is segmented by function, satellite type, and end-user.
By type of satellite, the low-cost satellite market is segmented into nano, micro, and others. In 2017, the micro satellite segment lead the global market and is expected that retain its position. The nano satellite segment is likely to witness the fastest growth in the forecast years. A large number of micro- satellites launch by different countries is expected to augment the market growth. Nano-satellite systems are gaining popularity due to the growing need to cut-down satellite launch costs.
By function, the low-cost satellite market is segmented into imaging, communication, and others. The communication segment is expected to hold the largest share of the global market owing to rapid advancements in high-speed communication technologies, such as evolution of the 5G technology.
By end-user, the low-cost satellite market is segmented into military and commercial. The commercial segment is likely to direct the global market due to increase in commercial applications of low-cost satellites. The military segment is likely to witness the fastest growth in the review period.
In North American, the low-cost satellite market is accounted for holding the major share of the global market in the forecast period. The presence of giant tech companies operating in the region and its firm technical infrastructure are largely contributing to the updation of technologies that are used in low-cost satellite and deletion of loopholes in them. The market in the United States, followed by Canada and Mexico, is anticipated to experience robust expansion across the evaluation years. In addition, the rise in number of space programs to further drive the North America market growth.
In the Asia Pacific region, the rise in need for better exploration of space and more effective communication systems to execute the same, encouraged APAC governments and renowned space exploration organizations to fund for the production of low-cost satellites. This is expected to boost the expansion of the APAC market.
Table of Content:
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Low-Cost Satellite Market, By Satellite Type
1.1.2. Global Low-Cost Satellite Market, By End User
1.1.3. Global Low-Cost Satellite Market, By Function
1.1.4. Global Low-Cost Satellite Market, By Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
Continued. . .
List of Tables:
TABLE 1 List of Assumptions
TABLE 2 Major Patents Granted for Directed Energy Weapon (15 May 2010–15 May 2019)
TABLE 3 Component: Global Low-Cost Satellite Market, 2018–2025 (USD Million)
TABLE 4 End User: Global Low-Cost Satellite Market, 2018–2025 (USD Million)
TABLE 5 Application: Global Low-Cost Satellite Market, 2018–2025 (USD Million)
TABLE 6 Global Low-Cost Satellite Market, By Region, 2018–2025 (USD Million)
TABLE 7 North America: Low-Cost Satellite Market, By Country, 2018–2025 (USD Million)
Continued. . .
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