Global Low-Cost Satellite Market is expected to grow at 8% CAGR during the forecast period. The report summarizes market review of the key segments in the market such as by Satellite Type, by Function, by Function, End-User and Region
Pune, India – April 2, 2019 —
Low-Cost Satellite Market Research Report: Information by Satellite Type (Micro-, Nano-, Others), by Function (Communication, Imaging, Others), by End-User (Commercial, Military), and by Region — Global Forecast till 2023
Low-Cost Satellite Market Scenario:
Satellites are classified as low-Earth orbit (LEO) satellites, sun-synchronous orbit satellites, and geosynchronous-Earth orbit (GEO) satellites, according to the orbit they are in. Based on the size, the satellites are categorized as large, medium-sized, and small satellites. The small satellites comprise of the low-cost satellites such as micro-, nano-, pico-, and femto- satellites.
The larger (conventional) satellites were powered by the chemical propulsion systems, which increased their overall weight, launch costs, and reduced their payload bearing capabilities. As a result, the satellite operators have been focusing on the research on alternative propulsion technologies. However, in the recent years, with the growing demand for small satellites (such as the micro-, nano-, pico-, and femto- satellites), which weigh under 1,100 lbs, there has been a high requirement of cheaper launch vehicles. As a result, electric propulsion technologies are widely implemented to power such low-cost small satellites.
One of the major advantages of the low-cost satellites, when compared to the conventional large satellites, is their lower development and propulsion costs. Therefore, a constellation of such satellites can be used to provide low-cost solutions, which would otherwise cost a significant amount. The cost to build a nano- or microsatellite is almost nil in comparison to the traditional satellite.
With the launch of these nano- and micro satellites, the satellite propulsion costs also reduce, which is a boost for the global satellite industry. Moreover, such satellites are capable of enabling missions that were not feasible with the larger satellites such as inspection of the larger satellites in orbit, gathering data from multiple points, lower data rate communications, and space-based research.
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Of late, there have been a number of developments on the low-cost satellite front. For example, in 2017, it was reported that the National Aeronautics and Space Administration (NASA) would launch a suite of six next-generation, small satellites, which would provide necessary information and update of the Earth’s hurricanes, energy requirements, and weather. Similarly, in 2016, it was reported that the Indian Space Research Organization (ISRO) was developing low-cost, reliable space launch vehicles. The organization had focused on re-engineering and re-designing the production models of space vehicles, to drive down the cost of satellite launches. In the same year, India’s Reusable Launch Vehicle-Technology Demonstrator (RLV-TD) was flight-tested successfully.
During the same period, China Aerospace Science and Industry Corporation (CASIC) expects to launch approximately 50 small-sized and low-cost satellites and place them in the LEO, during 2017-2020. Likewise, in 2014, India’s Polar Satellite Launch Vehicle launched five satellites (one French Earth observation satellite weighing over 1,600 lbs and four small satellites). With the growing demand for nano- and micro- satellites, it is expected that the manufacturing base of satellites will widen to various regions of the world, which would significantly fuel the global market growth.
Low-Cost Satellite Market Segmentation:
The global low-cost satellite market has been segmented by satellite type, function, end-user, and region. Based on satellite type, the low-cost satellite market is divided into nano satellite, micro satellite, and others. In 2017, the microsatellite segment accounted for the largest market share and it is expected that the nanosatellite segment would witness the fastest market growth, during the forecast period. Based on function, the low-cost satellite market is divided into communication, imaging, and others.
In 2017, the communication segment accounted for the largest market share and it is also expected to witness the fastest market growth, during the forecast period. Based on end-user, the low-cost satellite market is divided into commercial and military. In 2017, the commercial segment accounted for the largest market share and it is expected that the military segment would witness the fastest market growth, during the forecast period.
On the basis of region, the global low-cost satellite market has also been segmented into three regions, namely, Americas, Europe Middle East & Africa, and Asia-Pacific. North America had the largest share of the market in 2017, primarily due to the presence of the major companies such as SpaceX, Lockheed Martin Corporation, and Planet Labs Inc. in the region. The countries such as the US, Canada, Brazil, and Mexico are the major markets for space-based programs, in the region, as these countries have advanced infrastructures and are involved in various space programs.
Similarly, Asia-Pacific is expected to be fastest growing region for the low-cost satellite market, during the forecast period. This is primarily due to the increasing technological capabilities and extensive investments on satellite systems and services, particularly in China, Japan, and India. Therefore, the global low-cost satellite market is estimated to register a CAGR of approximately 8% during the forecast period of 2018 to 2023.
Low-Cost Satellite Market Key Players:
The key players in the global low-cost satellite market are Dauria Aerospace (Russia), SpaceX (US), Geooptics Inc. (US), OHB AG (Germany), OneWeb (US), Lockheed Martin Corporation (US), Axelspace Corporation (Japan), Planet Labs Inc. (US), Sierra Nevada Corporation (US), and Spire Global Inc. (US).
The report on global low-cost satellite market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report offers a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value, and the technological, macroeconomic, and governing factors of the market. The report also provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Table Of Contents:
Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
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
List Of Tables:
Table 1 Global Low-Cost Satellite Market, By Region, 2018–2023
Table 2 Americas: Low-Cost Satellite Market, By Country, 2018–2023
Table 3 Europe Middle East & Africa: Low-Cost Satellite Market, By Country, 2018–2023
Table 4 Asia-Pacific: Low-Cost Satellite Market, By Country, 2018–2023
Table 5 Global Low-Cost Satellite Market, By Satellite Type, 2018–2023
Table 6 Americas: Low-Cost Satellite Market, By Satellite Type, 2018–2023
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