Low-Cost Satellite Market, By Satellite Type (Microsatellite, Minisatellite, Nanosatellite), By Application (Imaging, Communication), By End-Use (Military, Commercial, Civil), and By Geography (EU, NA, APAC, LATAM, and MEA) Analysis, Size, Share Trends, & Forecast from 2021-2027
REPORT HIGHLIGHT
USD 2740.4 million in 2020 was the expected global Low-Cost Satellite market size and is forecasted to rise up to USD 4395.8 Million by 2027. The industry is expected to grow with a 6.0% CAGR during the forecast period, 2021-2027.
The Low-Cost Satellite is a miniaturized satellite, small satellite, or a smallsat, which is usually of low cost in nature, costing around 4 million USD per vehicle. Such satellites are usually built small to reduce the huge economic costs involved in making a satellite and launching it. Smallsats are more useful, especially in large numbers than in fewer large satellites. Smallsats can be used more effectively to gather scientific data and radio relay. Lighter and smaller satellites are cost-effective and require a cheaper launch vehicle that can be used multiple times. Most of them are piggybacked and launched because of the excess capacity present in larger vehicles. Smallsats also allow for cheaper designs and mass production.
Market Dynamics
The global Low-Cost Satellite market is a developing market that is anticipated to witness huge growth during the forecast period. The global Low-Cost Satellite market is majorly driven by the increased demand for economical sats in small spacecraft missions. Such missions are flexible and hence involve various improvements in technology and are open to new innovative opportunities. Costs are reduced because of various factors, such as the shorter time is taken to launch and deploy a satellite. Hence Space missions that are highly constrained on their budgets seek the usage of such smallsats. Innovation in economic sats also fosters an environment for research and training focused on frugal innovations especially in emerging economies where it is difficult to access funds especially for space programs instead of essential services such as health or jobs.
Major drivers for this market are the emphasis on cost reduction and the value addition of miniature satellites. There is also a rise in the demand for satellites that are low-cost and have applications in low earth orbit applications. Low earth orbit applications are a key for tapping into rapid growth which is achieved because of reduced cost due to smallsats. Launching a constellation of sats because of this innovation is possible. The constellation of sats can be placed over certain geography and moves over it for various applications. Suc constellations can be reused for more than one mission which enables them to be used for various applications such as Quick disaster management and recovery responses or collection of data for telemedicine applications, or track assets, or manages the environment. For Instance, Sky and Space Global has announced that it intends to provide communication services through a smallsat constellation, containing around 200 units. This service is supposed to be active from 2020 and will be used to provide most of the emerging economies such as the African or Latin American countries.
Satellite Takeaway
The satellite segment is divided into Minisatellite, Microsatellite, and Nanosatellite. The Nanosatellites category is expected to grow the fastest during the forecasted period. The main reason for adoption and growth is because Nanosats offer similar applications as its larger counterparts, but at the same time costs significantly less. The cost of manufacturing large sats are in the range of several million, however, the cost of manufacturing smallsats is thousands of dollars. For Instance, Cubesat a nanosatellite costs around 0.1 million Dollars and can be practically used in most of the missions in which a large sat would have been used. Another advantage that drives the adoption of nanosats is that the lifespan of a nanosat is one or two years in the low earth orbit, post which it burns up while entering the earth's orbit. This reduces the cost by cutting down maintenance and risk management of sats when they are being planned and launched into orbit.
Similarly, Micro and Mini sats are finding their applications in various sectors especially for communication services and geospatial mapping.
Application Takeaway
Based on end-user, the global market is bifurcated into imaging and communicating. The communication category accounted for a major share in 2019 and had more than 30% of the market revenue share in the same year. The increased adoption of communication applications is because of extensive networks that have been created including the internet and IoT (Internet of things). Smallsats are preferred in such applications because of the minimal cost involved. Smallsats have a short propagation delay when compared with that of large satellites (especially those which revolve in higher orbits) and hence are in demand. Innovation in 5G technology and demand for data effective communication channels will bolster the growth of smallsats and further the applications in this category.
Alternatively, the category of imaging is growing at a fast rate. Applications such as remote sensing, geospatial analysis, GIS, etc are growing the demand for smallsats. Remote sensing finds its use in various sectors such as agriculture, weather forecasting, topographic evaluation, etc. Commercial applications of imagery with high spatial and temporal resolution are increasing in numbers, such as studying and monitoring vegetation, oceanography, land cover, and inland water. The traction for imagery using smallsats is growing and is garnering popularity in various organizations such as universities, private firms, and space agencies.
Regional Takeaway
Based on geography, the global Low-Cost Satellite market is categorized into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In 2019, North America accounted for a major share and had over 35% of the market revenue share in the same year. The presence of key market players along with the high presence of research and development are key factors influencing the growth. A high defense budget in the USA also helps in the increased share of the revenue.
On the other flip, Asia Pacific is anticipated to witness the fastest growth over the upcoming years. This is ascribed to the rising involvement by the governments to further its research and development in smallsats. There is also an increase in the money poured in by the investors which are fueling the market.
COVID-19 Impact
COVID has impacted and disrupted various sectors across the globe. Due to the restrictions and lock downs imposed by various governments, supply chains have been disrupted and manufacturing capabilities have been halted. The demand for Low-Cost Satellite will however recoup and recover once the economies gain back their normal growth rate.
Key Vendor Takeaway
Some of the prominent players operating in the industry include Planet Labs, SpaceX, Thales Alenia Space, Spire Global Inc., Sierra Nevada Corporation, Bradford Space, Axelspace Corporation, GeoOptics Inc., Airbus, Boeing, ISRO, L3Harris Technologies Inc., Lockheed martin, orbital AK, Dauria Aerospace among others.
The industry is highly fragmented in nature owing to the presence of many key players present at the global, regional, as well as country level. Apart from this, with the rising demand for a Low-Cost Satellite, the key players have adopted growth strategies such as merger & acquisition, collaboration, strategic partnerships, and product launches to retain their position on the global scale. Increased commercialization of its technologies is also a way companies are increasing the growth and demand of smallsats. For instance, ISRO started its commercial arm called NSIL in 2019 and had clocked a revenue of 40 million in its first year.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2021 to 2027
TARGET AUDIENCE
Manufacturers
Raw Material Suppliers
Distributors
Original Equipment Manufacturers
Research Organizations
Consulting Firms
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LOW-COST SATELLITE MARKET KEY PLAYERS
Dauria Aerospace
Planet Labs
Axelspace Corporation
Sierra Nevada Corporation
L3Harris Technologies Inc.
SpaceX
Thales Alenia Space
Spire Global Inc.
Bradford Space
GeoOptics Inc.
Airbus
Boeing
ISRO
Lockheed martin
orbital AK
GLOBAL LOW-COST SATELLITE MARKET, BY SATELLITE TYPE
Microsatellite
Minisatellite
Nanosatellite
GLOBAL LOW-COST SATELLITE MARKET, BY APPLICATION
Imaging
Communication
GLOBAL LOW-COST SATELLITE MARKET, BY END-USE
Military
Commerical
Civil
GLOBAL LOW-COST SATELLITE MARKET, BY REGION
North America
o The U.S.
o Canada
Europe
o Germany
o France
o Italy
o Spain
o the United Kingdom
o Rest of Europe
Asia Pacific
o India
o China
o South Korea
o Japan
o Rest of APAC
Latin America
o Brazil
o Mexico
o Argentina
o Rest of LATAM
The Middle East and Africa
o Saudi Arabia
o the United Arab Emirates
o Rest of MEA
TABLE OF CONTENT
1. LOW-COST SATELLITE MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Satellite Type
2.1.2. Market Snippet by Application
2.1.3. Market Snippet by End Use
2.1.4. Market Snippet by Region
2.2. Competitive Insights
3. LOW-COST SATELLITE KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. LOW-COST SATELLITE INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. LOW-COST SATELLITE MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. LOW-COST SATELLITE MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. LOW-COST SATELLITE MARKET – BY SATELLITE TYPE
7.1. Overview
7.1.1. Segment Share Analysis, By Satellite Type, 2020 & 2027 (%)
7.2. Microsatellite
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Minisatellite
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. LOW-COST SATELLITE MARKET – BY Applications
8.1. Overview
8.1.1. Segment Share Analysis, By Applications, 2020 & 2027 (%)
8.2. Imaging
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.2.2.1. Agriculture
8.2.2.1.1. Overview
8.2.2.1.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.2.2.2. Weather
8.2.2.2.1. Overview
8.2.2.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Communication
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3.2.1. Mobile Communications
8.3.2.1.1. Overview
8.3.2.1.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. LOW-COST SATELLITE MARKET – BY END USE
9.1. Overview
9.1.1. Segment Share Analysis, By End Use, 2020 & 2027 (%)
9.2. Military
9.2.1. Overview
9.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3. Commercial
9.3.1. Overview
9.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10. LOW-COST SATELLITE MARKET– BY GEOGRAPHY
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
10.2. North America
10.2.1. Overview
10.2.2. Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.2.4. North America Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.2.5. North America Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.2.6. North America Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.2.7. U.S.
10.2.7.1. Overview
10.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.2.7.3. U.S. Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.2.7.4. U.S. Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.2.7.5. U.S. Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.2.8. Canada
10.2.8.1. Overview
10.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.2.8.3. Canada Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.2.8.4. Canada Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.2.8.5. Canada Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.3. Europe
10.3.1. Overview
10.3.2. Key Manufacturers in Europe
10.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.3.4. Europe Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.3.5. Europe Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.6. Europe Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.3.7. Germany
10.3.7.1. Overview
10.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.7.3. Germany Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.3.7.4. Germany Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.7.5. Germany Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.3.8. Italy
10.3.8.1. Overview
10.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.8.3. Italy Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.3.8.4. Italy Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.8.5. Italy Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.3.9. United Kingdom
10.3.9.1. Overview
10.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.9.3. United Kingdom Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.3.9.4. United Kingdom Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.9.5. United Kingdom Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.3.10. France
10.3.10.1. Overview
10.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.10.3. France Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.3.10.4. France Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.10.5. France Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.3.11. Rest of Europe
10.3.11.1. Overview
10.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.11.3. Rest of Europe Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.3.11.4. Rest of Europe Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.11.5. Rest of Europe Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.4. Asia Pacific
10.4.1. Overview
10.4.2. Key Manufacturers in Asia Pacific
10.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.4.4. Asia Pacific Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.4.5. Asia Pacific Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.6. Asia Pacific Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.4.7. India
10.4.7.1. Overview
10.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.7.3. India Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.4.7.4. India Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.7.5. India Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.4.8. China
10.4.8.1. Overview
10.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.8.3. China Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.4.8.4. China Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.8.5. China Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.4.9. Japan
10.4.9.1. Overview
10.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.9.3. Japan Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.4.9.4. Japan Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.9.5. Japan Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.4.10. Rest of APAC
10.4.10.1. Overview
10.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.10.3. Rest of APAC Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.4.10.4. Rest of APAC Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.10.5. Rest of APAC Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.5. Latin America
10.5.1. Overview
10.5.2. Key Manufacturers in Latin America
10.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.5.4. Latin America Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.5.5. Latin America Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.6. Latin America Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.5.7. Brazil
10.5.7.1. Overview
10.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.7.3. Brazil Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.5.7.4. Brazil Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.7.5. Brazil Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.5.8. Mexico
10.5.8.1. Overview
10.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.8.3. Mexico Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.5.8.4. Mexico Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.8.5. Mexico Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.5.9. Argentina
10.5.9.1. Overview
10.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.9.3. Argentina Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.5.9.4. Argentina Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.9.5. Argentina Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.5.10. Rest of Europe
10.5.10.1. Overview
10.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.10.3. Rest of LATAM Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.5.10.4. Rest of LATAM Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.10.5. Rest of LATAM Market Size and Forecast, By End Use, 2016 - 2027 (US Billion)
10.6. Middle East and Africa
10.6.1. Overview
10.6.2. Key Manufacturers in Middle East and Africa
10.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.6.4. Middle East and Africa Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.6.5. Middle East and Africa Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10.6.6. Middle East and Africa Market Size and Forecast, By End Use, 2016 - 2027 (US$ Billion)
10.6.7. Saudi Arabia
10.6.7.1. Overview
10.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.6.7.3. Saudi Arabia Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.6.7.4. Saudi Arabia Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10.6.7.5. Saudi Arabia Market Size and Forecast, By End Use, 2016 - 2027 (US$ Billion)
10.6.8. United Arab Emirates
10.6.8.1. Overview
10.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.6.8.3. United Arab Emirates Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.6.8.4. United Arab Emirates Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10.6.8.5. United Arab Emirates Market Size and Forecast, By End Use, 2016 - 2027 (US$ Billion)
10.6.9. Rest of MEA
10.6.9.1. Overview
10.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.6.9.3. Rest of MEA Market Size and Forecast, By Satellite Type, 2016 - 2027 (US$ Billion)
10.6.9.4. Rest of MEA Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10.6.9.5. Rest of MEA Market Size and Forecast, By End Use, 2016 - 2027 (US$ Billion)
11. KEY VENDOR ANALYSIS
11.1. Competitive Dashboard
11.2. Company Profiles
11.2.1. Dauria Aerospace
11.2.1.1. Company Snapshot
11.2.1.2. Financial Performance
11.2.1.3. Product Benchmarking
11.2.1.4. Strategic Initiatives
11.2.2. Planet Labs
11.2.3. Axelspace Corporation
11.2.4. Sierra Nevada Corporation
11.2.5. SpaceX
11.2.6. Thales Alenia Space
11.2.7. Spire Global Inc.
11.2.8. Bradford Space
11.2.9. GeoOptics Inc.
11.2.10. Airbus
11.2.11. Boeing
11.2.12. ISRO
11.2.13. Lockheed Martin
11.2.14. Orbital AK
12. 360 DEGREE ANALYST VIEW
13. APPENDIX
13.1. Research Methodology
13.2. References
13.3. Abbreviations
13.4. Disclaimer
13.5. Contact Us
