The Low-Cost Satellite Market Is Estimated To Register A CAGR Of Approximately 8% During The Forecast Period Of 2018 To 2023.
Market Highlights

The usage of small and low-cost satellites are paving the way for a successful and cost-effective makeover of the domain of satellite systems. A number of companies such as Lockheed Martin Corporation, Planet Labs, One Web, and SpaceX are primarily focusing on the launch of small and lightweight satellite systems, in order to reduce the costs associated with the satellite launch. As a result, in the recent years, a large number of small and low-cost satellites placed in the lower and higher orbits in the space. Many of the developing nations have also shown a keen interest in the utilization of satellites such as CubeSats (U-class spacecraft). These satellites use enhanced electro-optical/infrared (EO/IR) sensor systems to obtain images of Earth.
In the recent years, there have been some major developments of small and low-cost satellite systems, which drive the market growth. Some of them have been mentioned below:
In November 2016, Scotland-based Clyde Space signed a contract with Canada-based Kepler Communications, to manufacture two nanosatellites. These satellites would provide enhanced telecommunications network across Canada.
In September 2016, San Francisco-based Planet Labs, signed a contract worth $20 million with the National Geospatial-Intelligence Agency (NGA), to provide small satellites for earth observation (EO) missions in the LEO.
The global low-cost satellite market has been segmented by satellite type, function, end-user, and region. On the basis of satellite type, the low-cost satellite market is divided into nano-, micro-, and others. In 2017, the micro satellite segment dominated the global market and it is expected that the nano satellite segment would witness the fastest market growth, during the forecast period. This is primarily because of the large number of micro satellites being launched in the recent years, by a number of countries. Similarly, in an attempt to reduce the satellite launch costs, extensive investments are being done on the nano satellite systems.
On the basis of function, the low-cost satellite market is divided into communication, imaging, and others. In 2017, the communication segment dominated the global market and is also expected to witness the fastest growth, during the forecast period.
This is primarily due to the rapid advancements in high-speed communication technologies along with the introduction of the 5G technology. On the basis of end-user, the low-cost satellite market is divided into commercial and military. In 2017, the commercial segment dominated the global market and it is expected that the military segment would witness the fastest growth, during the forecast period. This is primarily due to the increasing commercial applications through the satellite services in the recent years such as earth observation, meteorology, scientific research & exploration, and mapping & navigation, among others.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/low-cost-satellite-market-7136


Comments

Post a Comment

Popular posts from this blog

GERD and NERD Treatment Market Rising Uptake Of Technology In Medical And Healthcare Sector To Boost Industry’s Growth Market 2019 Market Highlights: GERD & NERD Treatment Market Research Report- Americas forecast till 2023 growing continuously and is expected to grow at a CAGR of 4.02 % from 2017 to 2023. Heartburn is the burning sensation in the chest behind the breastbone that we feel when stomach acid refluxes back into the esophagus (food tube). Increasing prevalence of gastric diseases has increased the investment in GERD medication for research and development. This is expected to further drive the demand for gastroenteric drugs. Major players in GERD & NERD treatment market Some of the major players in this market are ( U.S.), GlaxoSmithKline Plc (U.K), Ironwood Pharmaceuticals, Inc. (U.S.), Jeil pharmaceutical Co. Ltd. (South Korea), Johnson & Johnson (U.S.), Mederi Therapeutics Inc. (U.S.), Medigus Ltd. (Israel), Medtronic Inc. (U.S.), Merck & CO.,...
Read more
Air Ambulance Services Market Size, Share, Trends, Application  Global Air Ambulance Services Market  Overview The Global Air Ambulance Services Market is expected to reach USD 11,456.3 million by 2024 at a CAGR of 2.95% during the forecast period. Air ambulance manufacturers are investing heavily in advanced technologies to reduce costs and improve turnaround time. For instance, 3D printing is dramatically changing the way structures and components of aircraft are currently designed and manufactured. It reduces the design constraints that engineers face when using conventional fabrication techniques. Furthermore, the ability to fabricate functional electronics into complex structures using 3D printing allows manufacturers to offer air ambulances that operate effectively in adverse conditions such as inclement weather, tsunamis, droughts, and cyclones. Global Air Ambulance Services Market  Segmental Analysis The global air ambu...
Read more

Satellite Communication (SATCOM) Market Outlook And Opportunities With Future Growth Scenario By 2027

  Market Forecast The satellite communication (SATCOM) market is projected to register a  CAGR of 8.44%  between  2021 and 2027 .   SATCOM is used for the transmission of information from one place to another with the aid of a satellite that orbits around the Earth. SATCOM is employed for a wide range of mobile applications, including communication to aircraft, ships, vehicles, and hand-held terminals, as well as for TV and radio broadcasting. The increasing deployment of small satellites, growing demand for high-speed Internet, and rising adoption of maritime VSAT are primarily driving the market's growth. Additionally, increasing demand for small form factor SATCOM solutions and frequent launches of military satellitesare driving the global market's growth. Globally, military spending has increased significantly in recent years. Factors such as ongoing conflicts in the Middle East & Africa, long-standing tensions, territorial disputes between ...
Read more