Small Satellite Market Intelligence Report: Analyzing Key Futuristic Trends, Research Methodologies, and Competitive Landscape until 2029 | Sierra Nevada Corporation (US), L3Harris Technologies, Inc. (US), Lockheed Martin Corporation (US), Northrop Grumma

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

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Prominent companies include Sierra Nevada Corporation (US), L3Harris Technologies, Inc. (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), and Airbus Defence and Space (Germany) among others.

Increased demand for carrying out surveillance activities along conflict areas, the rising defence expenditure of emerging economies is expected to drive the market

The small satellite market is projected to grow from USD 3.2 Billion in 2022 to USD 7.0 Billion by 2028, at a CAGR of 16.8 % during the forecast period. The growth of this market can be attributed to the increasing need for secure satellite communications for military missions and commercial applications. Additionally technological advancements in small satellite systems, such as laser/optical band communications technologies are driving the market.

The CubeSat segment is projected to witness the highest CAGR during the forecast period.

Based on mass, the CubeSat segment of the small satellite market is projected to hold the highest growth rate during the forecast period. CubeSats are used for a variety of missions by governments, universities, and private businesses due to their low cost and fast turnaround time. The development of new technologies and improvements in launch systems also contributed to the growth of the CubeSat market.

The laser/optical band segment is projected to dominate the small satellite market by frequency

Based on Frequency, the laser/optical band segment is projected to dominate the market share during the forecast period. The laser/optical band enhance the communication capabilities. The most promising commercial applications can be found in the interconnection of satellites or high-altitude platforms to build high-performance optical backbone networks. Corporations like SpaceX, Facebook, Google, and a series of start-ups are currently working on various concepts based on laser communication technology.

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A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the small satellite market. Competitive analysis of upcoming startups in the small satellite market ecosystem is covered in this report.

Research Coverage:

This research report categorizes the small satellite market by Application (Communication, Earth Observation, Education, Technology, Others), by Subsystem (Satellite bus, Payload, Solar Panel, Satellite Antenna, Others), by Orbit (LEO, GEO, MEO, Others), by Mass (Small Satellite, CubeSat), by End-use (commercial, government & defense), Frequency ( L-Band, S-Band, C-Band, X-Band, Ku-Band, Ka-Band, Q/V Band, HF/VHF/UHF- Band, & Laser/Optical) and region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the small satellite market.

This release was published on openPR.