Global Small Satellite Market Expected to Grow Rapidly with a CAGR 18.9% for 2016-2023
January 9, 2018 | Business WireEstimated reading time: Less than a minute
The global small satellite market is expected to grow rapidly with a CAGR 18.9% during forecast period (2016-2023).
The factors which are responsible for the growth of small satellite market are raising focus on decreasing mission costs as well as growing demand for earth observation-related applications of small satellite are expected to support the growth of the small satellite market.
Furthermore, increasing demand due to technological advancement of small satellites among emerging countries such as India, China and Japan of Asia-Pacific boost the market. However, lack of dedicated launch vehicles to launch small satellites into space and design-related limitations for small satellites are some restraint limiting the growth of global small satellite market.
The global small satellite market is segmented on the basis of type, application and end-users. On the basis of type small satellite market is sub divided into Nanosat (1 Kg to 10 Kg), Microsat (10 Kg to 100 Kg) and Minisat (100 Kg to 500 Kg). Among all types of small satellites, nanosatellites are reported for a majority market share in 2015 as it is flexible to use, increased adoption in wide range of applications, and due to its ability to perform similar functions as medium and large satellites.
Suggested Items
PC Client CPU Shipments in 1Q24 Up 33% YoY
05/10/2024 | Jon Peddie ResearchJon Peddie Research reports the growth of the global PC client-based CPU units market reached 62 million units in Q1’24, a decrease of -9.4% quarter to quarter and a 33% growth from Q1’23.
Omdia: OLED Monitor Display shipments to surge by 123% YoY as Top Brands Embrace its Technology in 2024
05/09/2024 | PRNewswireOLED monitor display shipments significantly increased in 2023, following an upsurge of 415% year-over-year (YoY), according to Omdia's Monitor Display & OEM Market Tracker. This trend is set to continue with Omdia forecasting a 123% YoY increase in 2024, reaching 1.84 million units, driven by industry leaders Samsung Display and LG Display.
IDTechEx Report: Illuminating the Future of Lidar in Automotive
05/09/2024 | PRNewswireIn the rapidly evolving landscape of Advanced Driver-Assistance Systems (ADAS) and autonomous driving, sensor technologies have emerged as a pivotal force driving innovations in the automotive industry.
Sondrel Awarded New Video Processor ASIC Design and Supply Contract
05/09/2024 | SondrelSondrel, a leading provider of ultra-complex custom chips for leading global technology brands, is pleased to announce that it has won a major ASIC design and supply contract for a next generation, video processing chip.
IDC Forecasts Slower Growth for Global Telecommunications Services Market: Could AI Help Telcos to Maintain Healthy Margins?
05/08/2024 | IDCWorldwide spending on Telecom Services and Pay TV Services reached $1,509 billion in 2023, an increase of 2.1% over 2022, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker.