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Emergen Research
Growing demand for low-cost satellites in earth observation imagery is a significant factor driving global low-cost satellite market revenue growth
SURREY, BRITISH COLUMBIA, CANADA , January 23, 2022 /EINPresswire.com / -- The global low-cost satellite market size is expected to reach USD 4,395.8 Million at a steady CAGR of 6.0% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth of low-cost satellites can be attributed to growing demand for low-cost satellites in earth observation imagery. Low-cost satellites, such as nanosatellites provide a cost-efficient means for earth observation via remote sensing and deliver frequent imageries with high temporal and spatial resolution, which is essential for monitoring and studying dynamic processes, such as land cover, vegetation, oceanography, and inland water.
Imaging application of low-cost satellites is steadily garnering traction in various scientific fields and, thus numerous initiatives by space agencies, universities, and private firm to launch low-cost satellite missions is spurring market growth. For instance, in July 2019, SatRevolution, which is a Polish firm, announced the deployment of its first two nanosatellites, KRAKsat and Swiatowid. This deployment is the first step by the company in its initiative to launch 1,024 nanosatellites under its Real-time Earth-observation Constellation (REC) project
The study is a professional probe into the revenue generated and capacity estimates for the Low-Cost Satellite market for the forecast period 2020 - 2027 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.
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Nanosatellites offer capabilities similar to large satellites and cost considerably less. According to a report, cost of manufacturing a large satellite can be serval million dollars, whereas the cost of producing a nanosatellite, such as CubeSat, can be around USD 0.1 Million and it can be launched for several of the similar kinds of missions that the larger satellites can. Also, nanosatellites have a relatively shorter span of life, which is around a year or two in Low Earth Orbit (LEO) before the satellite enters Earth's atmosphere and burns up, thereby reducing risk-management at production and launch phases.
In militarily applications, low-cost satellites, particularly microsatellites and nanosatellites, are of immense significance. These satellites are appropriate for launch-on-demand purpose that may be beneficial for military space operations in the coming years. Also, low-cost satellites can be deployed in anti-satellite applications by maneuvering the satellites (with soft or hard-kill payloads) near the target satellite and activating them at the intended time.
Key players in the market include Dauria Aerospace, Planet Labs, Axelspace Corporation, Sierra Nevada Corporation, L3Harris Technologies Inc., SpaceX, Thales Alenia Space, Spire Global Inc., Bradford Space, and GeoOptics Inc.
A novel research report on global Low-Cost Satellite has been recently published by Emergen Research to offer a comprehensive overview of the industry with latest and emerging market trends between 2021 and 2028. The report offers a detailed overview of the market with precise information about product type, application, market size, revenue share, key drivers, restraints, opportunities, and challenges. The report also assesses market trends that can have favorable impact on the market in the coming years along with detailed examination of various market segments on global and regional levels.
COVID-19 Impact Analysis:
This report is the latest document encompassing the massive changes that took place in the Low-Cost Satellite market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Low-Cost Satellite market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment.
Emergen Research has segmented the global low-cost satellite market on the basis of satellite type, application, end-use, and region:
Satellite Type Outlook (Revenue, USD Million; 2018–2028)
Minisatellite
Microsatellite
Nanosatellite
Others
Application Outlook (Revenue, USD Million; 2018–2028)
Communication
Imaging
Others
End-Use Outlook (Revenue, USD Million; 2018–2028)
Military
Civil
Commercial
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Regional Overview:
The global Low-Cost Satellite market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Low-Cost Satellite market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Key questions addressed in the report:
What are the key factors driving the global Low-Cost Satellite market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Low-Cost Satellite market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
Table of Content
Chapter 1. Low-Cost Satellite Market Methodology & Sources
1.1. Low-Cost Satellite Market Definition
1.2. Low-Cost Satellite Market Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2028
Chapter 3. Key Insights
Chapter 4. Low-Cost Satellite Market Segmentation & Impact Analysis
4.1. Low-Cost Satellite Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Low-Cost Satellite Market indicators analysis
4.2.2. Low-Cost Satellite Market drivers analysis
4.2.2.1. Increasing energy consumption and prices
4.2.2.2. Rising government policies regarding energy efficiency
4.2.2.3. Increasing smart grid services
4.2.3.Low-Cost Satellite Market restraints analysis
4.2.3.1. Highly competitive with presences of local & global players
4.2.3.2. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Low-Cost Satellite Market By Form Factor Insights & Trends, Revenue (USD Billion)
Chapter 6. Low-Cost Satellite Market By Input type Insights & Trends Revenue (USD Billion)
Chapter 7. Low-Cost Satellite Market By Application Insights & Trends, Revenue (USD Billion)
Chapter 8. Low-Cost Satellite Market By End-use Insights & Trends, Revenue (USD Billion)
Chapter 9. Low-Cost Satellite Market Regional Outlook
Continued…
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