North America Small Satellite Market Growth Prospects and Outlook 2020-2025

By: X herald

The Global North America Small Satellite Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The North America Small Satellite Market is anticipated to grow at a CAGR of over 3% during the forecast period.

Top Companies in the Global North America Small Satellite Market are Adcole Maryland Aerospace, LLC, Blue Canyon Technologies Inc., L3Harris Technologies Inc., Millennium Space Systems, Inc. (The Boeing Company), Northrop Grumman Corporation, Planet Labs, Inc., Sierra Nevada Corporation, Spire Global, Inc., Surrey Satellite Technology Ltd. (Airbus SE), Thales Alenia Space and others.

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Key Market Trends

Military Segment to Register the Highest CAGR During the Forecast Period

Military satellites are used for two specific mission profiles – surveillance and reconnaissance. Military satellites are capable of providing continuous coverage of an area and can be used for early warning in case the launch of an intercontinental ballistic missile is detected. The sensors mounted on these satellites can also automatically sense nuclear explosions and determine the location of the detonation, while further conveying the essential information required for a strategic strike assessment. Previously, technologically advanced countries were pioneers in developing military satellites but with the advent of smart sensors and miniature satellites, many nations around the globe have either developed their military satellite network or collaborate with their technology partners to access the technology as per their requirement. Several development projects are underway and have resulted in the creation of potential market opportunities for global players during the forecast period. For instance, the US Defense Advanced Research Projects Agency (DARPA) is developing a prototype line of cost-effective reconnaissance satellites, as part of a program called “Blackjack”. The program aims to integrate reconnaissance and communications payloads into standard commercial satellites owing to their higher launch rate to accelerate the pace of formation of a constellation. The success of the program will influence the US’ space program, which aims to set up a low Earth orbit (LEO) constellation of around 90 satellites by 2022. On a similar note, in November 2018, Dynetics Inc. (Dynetics) was selected for conducting hardware-in-the-loop testing and simulation for the US Army Space and Missile Defense Command/Army Forces Strategic Command (USASMDC/ARSTRAT) Technical Center program named Gunsmoke-L. As of May 2020, DARPA plans to launch the first experimental satellites of the Blackjack program in late 2020 and early 2021. Such developments are envisioned to drive the growth of the military segment of the North America small satellite market during the forecast period.

The US to Dominate the Market in the Upcoming Period

The small satellite industry in the US is bolstered by the presence of a robust framework for designing and manufacturing small satellites custom-designed to serve specific application profiles. Thus, several small satellites are launched by the US-based operators each year for satiating the demand for such satellites for a plethora of applications. For instance, besides earth observation and communication, several small satellite programs are aimed towards normal matter surveying of galaxies, planets, and stars. On this note, in July 2018, NASA launched the HaloSat to map the distribution of hot gas in the Milky Way galaxy. The HaloSat is built by Blue Canyon Technologies Inc. and is based on their XB1 bus and the L3 Cadet radio. The payload consists of three XR-100SDD silicon drift detectors (SDDs), an X-ray collimator, an anti-coincidence shield, and associated electronics. The diversified application portfolio is expected to create additional demand for small satellites in the US during the forecast period to replace the conventional full-scale satellites as small satellites offer better performance to cost ratio.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global North America Small Satellite market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global North America Small Satellite market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global North America Small Satellite market.

Market Segments: This part of the report discusses product type and application segments of the global North America Small Satellite market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approach North America Small Satellite used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

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