Press Release / Business / Global Small Satellite Services Market is Estimated to Reach $68 Billion by 2025, Says Accurize Market Research

Global Small Satellite Services Market is Estimated to Reach $68 Billion by 2025, Says Accurize Market Research

Global Small Satellite Services Market report published by Accurize Market Research forecast that the global market is expected to reach $68 billion by 2025; growing at a CAGR of 29.2% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Increasing demand for high-resolution imaging services and modified scope of applications throughout the world to drive the growth of the market
Increasing demand for high-resolution imaging services and modified scope of applications fuel the demand for the global small satellite services market. Furthermore, favorable costs and new technological advancements also boost the growth of the market.

Market Segmentation

The global small satellite services market has been bifurcated on the basis of platform, vertical, application and geography. Based on platform, the small satellite services market is segregated into CubeSat, nanosatellite, minisatellite and microsatellite. The vertical segment of small satellite services market is divided into government & military, non-profit organizations and commercial. Based on application, the small satellite service market is segmented into communication, science & technology and education, among others.

By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are countries under North America wherein Europe covers U.K, Germany, France, and others. Asia-Pacific covers China, India, Japan, Taiwan, and others. RoW covers South America, Middle East and Africa.

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Top players in the market

The key market players include Sierra Nevada Corporation, Lockheed Martin Corporation, Airbus Defense and Space, Northrop Grumman Corporation, Harris Corporation, Aerospace Corporation, Planet Labs Inc., The Boeing Company, Surrey Satellite Technology Ltd. and Thales Group among others.