Small satellites, also known as miniaturized satellites or smallsats, are characterized by their low mass and size, usually weighing under 500 kilograms. These economically viable satellites are adequate at gathering scientific data and radio relays, although technical challenges in terms of miniaturization and the lack of adequate power storage obstructs them from evolving as more useful.
According to a recent business intelligence study by TMR Research, owing to the sheer usefulness for many industries, the demand in the global small satellite market will increment at a notable CAGR during the forecast period of 2017 to 2025. The report is titled “Small Satellite Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.” The report has gauged all factors and provided figurative estimations of the demand of various segments, provided insights in which regions and countries will produce maximum demand, and profiled a number of key players in its featured chapter on competitive landscape.
Get Sample Copy of this Report @
Lowered cost for the data provided by satellite miniaturization, increased focus on the reduction of mission costs, and huge investments made by venture capitalists are some of the key factors driving the demand in the global small satellite market. On the other hand, design related limitations, programmatic and scientific risks, lack of dedicated launch vehicles and radio spectrum, scarce of intellectual assets, and regulatory challenges are expected to curtail the market’s progress in the near future.
That being said, the usage of small satellites to provide enhanced space imagery, development of satellite constellations to enhance communication, increased demand for hosted payloads, need for space debris removal, and technological advancements in Earth observation services are expected to open new opportunities in the near future.
Read Comprehensive Overview of Report @
Planet Labs, Sierra Nevada Corporation, and Surrey Satellite Technology are some of the most prominent players operating in this market.