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Small Satellite Market Revenue to Exceed $1.42B in 2017
February 7, 2017 | visiongainEstimated reading time: Less than a minute
The space sector has been witnessing a transition from being funded mostly by governments to being funded through a recent slew of investments by venture capital firms. Small satellites are increasingly being used for applications pertaining to satellite television, satellite navigation and satellite-based mobile communications, apart from various research related activities.
In the coming years, the industry is expected to observe a higher demand for dedicated satellite launch vehicles, relatively small activity-oriented spacecraft, and satellite constellations.
According to a new report by visiongain, the small satellite market revenue is forecast to exceed $1.42 billion in 2017.
Small satellites are expected to play a significant role in providing access to space and satellite applications for developing countries, who were previously restrained by the huge costs entailed in developing large satellites weighing more than 500 kilograms, according to visiongain.
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