Small satellite market to see decade of robust growth: Page 2 of 2

March 29, 2018 //By Jean-Pierre Joosting
Small satellite market to see decade of robust growth
According to Future Market Insights, surging government funding, increasing support from private entities, soaring satellite adoption for R&D purposes, and increasing demand for low-earth orbit services is driving the global market for small satellites to an estimated CAGR of 13.5 percent over a 10-year period 2018-2028.

Among end-users, defence sector is likely to represent the largest shareholding segment by 2028 end, whereas commercial sector is anticipated to witness higher growth. Defence area has been generating substantial demand for small satellites, covering over 42 percent market value share by 2017 end, whereas the consumption from commercial sector is slated to increase at a high rate and bring in above 31percent share of the market value for commercial segment during the assessment period. As per the regional segmentation analysis, North America will remain the largest market share contributor through to 2028. Western Europe, and SEA and others of APAC will exhibit significant growth over the decade.

www.futuremarketinsights.com

 

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