Growing demand for low-cost satellites in earth observation imagery is a significant factor driving global low-cost satellite market revenue growth
Vancouver, BC -- (SBWIRE) -- 05/03/2021 -- The global low-cost satellite market size is expected to reach USD 4,395.8 Million at a steady CAGR of 6.0% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth of low-cost satellites can be attributed to growing demand for low-cost satellites in earth observation imagery. Low-cost satellites, such as nanosatellites provide a cost-efficient means for earth observation via remote sensing and deliver frequent imageries with high temporal and spatial resolution, which is essential for monitoring and studying dynamic processes, such as land cover, vegetation, oceanography, and inland water.
The report also offers a comprehensive study about the current and emerging trends observed in the market, along with an emphasis on the key driving and restraining factors. The report further sheds light on the micro and macro-economic aspects that are anticipated to shape the demand of the Low-Cost Satellite industry. Moreover, it also covers the competitive landscape, including the profiles and business overview of the key companies and SWOT analysis.
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Some Key Highlights From the Report
In June 2019, Thales Alenia Space entered into a partnership with HEMERIA for the co-development of a cutting-edge nanosatellite platform and to deliver dedicated antennas, payload, and ground segment.
Nanosatellites offer capabilities similar to large satellites and cost considerably less. According to a report, cost of manufacturing a large satellite can be serval million dollars, whereas the cost of producing a nanosatellite, such as CubeSat, can be around USD 0.1 Million and it can be launched for several of the similar kinds of missions that the larger satellites can. Also, nanosatellites have a relatively shorter span of life, which is around a year or two in Low Earth Orbit (LEO) before the satellite enters Earth's atmosphere and burns up, thereby reducing risk-management at production and launch phases.
In militarily applications, low-cost satellites, particularly microsatellites and nanosatellites, are of immense significance. These satellites are appropriate for launch-on-demand purpose that may be beneficial for military space operations in the coming years. Also, low-cost satellites can be deployed in anti-satellite applications by maneuvering the satellites (with soft or hard-kill payloads) near the target satellite and activating them at the intended time.
Key players in the market include Dauria Aerospace, Planet Labs, Axelspace Corporation, Sierra Nevada Corporation, L3Harris Technologies Inc., SpaceX, Thales Alenia Space, Spire Global Inc., Bradford Space, and GeoOptics Inc.
The report categorizes the market into different key segments based on types and applications, along with key regional segmentation. The report offers insights into the segment expected to garner traction during the forecast period, and the region expected to dominate the market in the coming years.
Emergen Research has segmented the global low-cost satellite market on the basis of satellite type, application, end-use, and region:
Satellite Type Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
End-Use Outlook (Revenue, USD Million; 2018–2028)
Key Geographies Encompassed in the Report:
North America (U.S., Canada)
Europe (U.K., Germany, Italy, France, Rest of EU)
AsiaPacific (India, Japan, China, Australia, Rest of APAC)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Fundamental Market Parameters Elucidated in the Report:
Market dynamics: The Low-Cost Satellite market report explains the scope of various commercial possibilities over the next few years and further estimates revenue build-up over the forecast years. It analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers in developing vital strategies for profitable business expansion.
Competitive Outlook: The established market players operating in the Low-Cost Satellite industry have been listed in this report, with a major focus on their geographical reach and production facilities. To gain a competitive advantage over the other players in the Low-Cost Satellite industry, the leading players are focusing more on offering products at rational prices.
Objectives of the Report: The chief aim of the research report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Low-Cost Satellite market.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Low-Cost Satellite Market Segmentation & Impact Analysis
4.1. Low-Cost Satellite Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
18.104.22.168. Surging demand for low-cost satellites in earth observation imagery
22.214.171.124. Growing emphasis on cost reduction of miniature satellites
126.96.36.199. Increasing demand for CubeSats
4.2.3. Market restraints analysis
188.8.131.52. Design limitations
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Low-Cost Satellite Market By Satellite Type Insights & Trends, Revenue (USD Million)
5.1. Satellite Type Dynamics & Market Share, 2021 & 2028
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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