Small Satellite Market to Witness a Healthy Growth during 2018-2026
Report includes market status and forecast of global and major regions, with introduction of vendors, regions, product types and end industries; and this report counts product types and end industries in global and major regions.
BriefingWire.com, 5/05/2021 -
The small satellite market accounted for $3,632.4 million in 2018, and is anticipated to reach $15,686.3 million by 2026, registering a CAGR of 20.1% from 2019 to 2026. Satellites weighing below 500 Kg are known as small satellites.
The small satellite market is anticipated to grow owing to an increase in demand for the small satellite in LEO (Low Earth Orbit) based services. LEO based services include space-based communication, imagery-based intelligence, and situational awareness (SA). Some countries in Asia-Pacific and LAMEA are economically unstable owing to which they are unable to conduct space research programs. This factor is anticipated to hinder the market growth during the forecast period.