Technavio, a tech-focused market research firm, has published a new report on the global low-cost satellite market, which is expected to grow at a CAGR of close to 7% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global low-cost satellite market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Low-cost satellite market in the Americas: The US, Canada, Brazil, and Mexico are the major markets for space-based programs in the low-cost satellite market in the Americas. Agencies such as NASA and companies, such as SpaceX, in the US are developing new systems that are expected to meet the growing demand for satellites in the future. In the US, the demand from commercial sector has been increasing mainly for navigation, communications, and spy satellites.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on space, “The demand for low-cost satellite is high in countries such as the US, Canada, Brazil, and Mexico owing to the presence of advanced infrastructures and their active involvement in various space programs.”
Low-cost satellite market in APAC: Market research analysts at Technavio predict the low-cost satellite market in APAC to account for a revenue of more than USD 2 billion by 2021. The growth is likely to be driven by major countries of the region such as China, India, Japan, Australia, Malaysia, and South Korea. The high growth of the market in these countries is attributable to the availability of technological capabilities and are increased investment in satellite services.
Low-cost satellite market in the EMEA: The market for low-cost satellites in Europe is witnessing continuous advancements such as the use of new frequencies and signal transmission techniques, leading to new services and maintenance, making satellite usage more appealing. France, Germany, Italy, and the UK are the key revenue contributors in the low-cost satellite market in EMEA. During the forecast period, stakeholders from this region are likely to engage in strategic partnerships with vendors from the Americas and APAC.
The leading vendors operating in the global low-cost satellite market are:
- Black Sky
- Dauria Aerospace
- Deep Space Industries
- Planet Labs
- SpaceX
- SPIRE
Other prominent vendors in the market include Axelspace, Clyde Space, GeoOptics, Sierra Nevada, SpaceQuest, RUAG Space, and Terran Orbital.
A more detailed analysis is available in the Technavio report titled, ‘Global Low-cost Satellite Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Satellite Imaging Market 2017-2021
- Global Nano and Microsatellite Market 2016-2020
- Global Satellite Manufacturing and Launch Market 2016-2020
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