The global small satellite services market size is projected to grow from an estimated USD 14.88 Billion in 2017 to USD 53.22 Billion by 2022, at a CAGR of 29.03% during the forecast period. Key factors, such as increasing demand for earth observation and satellite broadband services, and satellite miniaturization technology are expected to fuel the growth of the small satellite services market.
Based on platform, the minisatellite (101–500 kg) segment is estimated to account for the largest share of the small satellite services market in 2017 due to the increasing demand for services, such as remote sensing, disaster management, military intelligence, telecommunications, and other academic services globally.
- Small Satellite Service Providers
- Small Satellite Manufacturers
- Subsystem Manufacturers
- Technology Support Providers
- Ministry of Defense
- Scientific Research Centers
- Software/Hardware/Service and Solution Providers
Based on vertical, the commercial segment is projected to lead the small satellite services market during the forecast period
Based on vertical, the commercial segment is projected to lead the small satellite services market during the forecast period. Small satellites have computational and communication capabilities, along with competencies in making decisions about the time the particular data is required to be sent.
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North America is estimated to account for the largest share of the small satellite services market in 2017
North America is estimated to lead the small satellite services market in 2017. Increasing interest in small satellites due to their low cost, advanced mechanics, and ease of assembly and launch has led to a rise in venture capital-backed funding for small satellites in the region and is thus leading to the increasing scope for satellite services. The small satellite services market in the North American region is expected to witness high growth during the forecast period.
The demand for satellite broadband services is increasing in the US and Canada. Broadband service providers are witnessing a surge in demand for broadband services from urban as well as rural populations.
Singapore Telecommunications Limited (Singapore), Eutelsat Communications S.A. (France), EchoStar Corporation (US), Inmarsat plc (UK), and Viasat, Inc. (US), among others, are the major players in the small satellite services market.
EchoStar Corporation (US) was also one of the major players in the small satellite services market in 2016 due to its strong service portfolio. The company has been awarded multiple contracts by customers from the Americas and Asia. It also focuses on expanding its satellite capacity and related infrastructure and develops improved and new technologies, which is evident from the launch of more than 5 new solutions during the last year alone. In November 2017, Hughes Network Systems, LLC (Hughes), a subsidiary of EchoStar, was awarded a contract by General Services Administration (GSA) (US) for Complex Commercial SATCOM Solutions (CS3). Under this contract, Hughes is expected to supply customizable solutions to government agencies to meet networking requirements.
Inmarsat plc (UK) is also one of the leading companies focusing on widening its product portfolio through innovative designs, and the miniaturization of satellites and their services. The company has been awarded contracts by various airlines, namely, AirAsia, Avianca, and Qatar Airways, among others. In September 2017, Inmarsat was awarded a contract by the AirAsia Group (Malaysia) to provide next-generation GX Aviation in-flight broadband solutions for more than 120 Airbus aircraft.
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