Press release
Top Trends in Small Satellite Market Size 2020 - Global Industry Revenue and Upcoming Demand
Small Satellite Market
The global small satellite market size expected to reach USD 18.30 Billion by 2026, exhibiting a CAGR of 20.28% during the forecast period. The rising integration of the Internet of Things (IoT) in various industries will boost the small satellite market growth in the forthcoming years.
As IoT provides secure and high-availability data services for professional users along with high level of service reliability for active IoT deployments has led to the higher implementation of IoT. Additionally, the connectivity offered by (IoT) in industrial application for machine control & production of satellites will create new opportunities for the market in the foreseeable future.
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List of the Best Companies in the Global Small Satellite Market Include:
o Sierra Nevada Corporation
o Singapore Technologies Engineering Limited
o Surrey Satellite Technology LTD.
o Planet Labs Inc.
o Airbus S.A.S
o Northrop Grumman Systems Corporation
o Space Exploration Technologies Corp. (Space X)
o Boeing
o Thales Alenia Space
o Millennium Space Systems Inc.
o Lockheed Martin Corporation
o Geooptics Inc.
o Oneweb LTD.
o Harris Corporation
North America was valued at USD 2.57 Billion in 2018 and is predicted to lead the market during the forecast period. The rising adoption of the triband antenna will have a positive impact on the market in North America. Furthermore, the introduction of SKYWAN technology by NASA, a unique hybrid modem which competes with MF-TDMA and DVB-S2X, allowing for real-time transmission with high throughput, the best transport per application will augment healthy growth of the market in the forthcoming years.
Contract Between Lockheed Martin Corporation and the U.S. Air Force to Spur Growth Opportunities
The increasing collaborations between key players and government organizations will bolster the small satellite market growth in the foreseeable future. For instance, Raytheon Company (US) and the U.S. Air Force signed a contract with a valuation of USD 37 million to support anti-jamming efforts for satellite communications. Furthermore, the growing concerns regarding national safety and security will boost the small satellite market trends during the forecast period. For instance, In November 2019, Lockheed Martin Corporation. and the U.S. Air Force Space and Missile Systems Center signed a contract with a valuation of USD 3,300 million for support services on classified military communications satellites.
Moreover, the launch of an orbit surveillance satellite by the Indian Space Research Organisation (ISRO) will boost the small satellite market share in the forthcoming years. For instance, In 2019, the Polar Satellite Launch Vehicle (PSLV) technology used by the Indian Space Research Organisation (ISRO). PSLV C-45 satellite is a low-earth orbit surveillance satellite, mainly launched for military purposes, and helps to monitor the locations of enemy radar sites deep in their territory.
Browse a summary of this research report enabled with table of content and figures: https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917
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