Global Low-Cost Satellite Market 2017-2021
About Low-cost Satellite
A satellite is an artificial object placed manually into the orbit to serve various purposes such as navigation, collection of weather information, civilian and Earth observation (EO), and research. It is a computer-controlled system that can perform tasks such as thermal control, telemetry, power generation, attitude control, and orbit control. The data collected by satellites are used for applications such as agriculture monitoring, management of water resources, urban development, mineral prospecting, environment protection, forestry, border and maritime security, drought and flood forecasting, ocean resources, and disaster management.
Technavio’s analysts forecast the global low-cost satellite market to grow at a CAGR of 6.54% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global low-cost satellite market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of low-cost satellites.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Low-cost Satellite Market 2017-2021
Technavio recognizes the following companies as the key players in the global low-cost satellite market: Black Sky, Dauria Aerospace, Deep Space Industries, Planet Labs, SpaceX, and SPIRE
Other Prominent Vendors in the market are: Axelspace, Clyde Space, GeoOptics, Sierra Nevada, SpaceQuest, RUAG Space, and Terran Orbital
Commenting on the report, an analyst from Technavio’s team said: “3D printing enables cost-efficient and just-in-time manufacturing of satellite parts along with the provision of carrying out quick design and rapid changes of internal features in the satellite, unlike traditional manufacturing methods. It has been anticipated that during the next 10-15 years, additive manufacturing will be adopted by various satellite manufacturing companies around the world to build their satellite systems. With the help of 3D printing, the researchers or the manufacturers can completely automate the satellite production process, which reduces the satellite manufacturing duration.”
According to the report, the usage of new-generation and reusable launch vehicles are paving the way for another successful and cost-effective makeover of the domain of satellite systems. In recent years, several countries focused on innovative cost-effective satellite launches. For example, in 2017, the Jiuquan Launch Center in China launched three small satellites using the Kuaizhou-1A (KZ-1A) launch vehicle. The Kuaizhou-1A is a high-precision, low-cost, and highly reliable launch vehicle developed by CASIC and marketed by the China Space Sanjiang Group. In the same year, NASA is expected to launch a suite of six next-generation, small satellites, which would provide necessary information and updates on the Earth’s hurricanes, energy requirements, and weather. Similarly, in 2016, ISRO developed low-cost reliable space launch vehicles by re-engineering and re-designing the production models of space vehicles to drive down the cost of satellite launches. In the same year, India successfully flight tested its Reusable Launch Vehicle-Technology Demonstrator. Likewise, in 2014, India’s Polar Satellite Launch Vehicle launched five satellites (one French EO satellite weighing over 1,600 lbs. and four small satellites).
Further, the report states that over the years, significant developments have taken place in the provision of internet services, globally. It began with the wired telephone/router connectivity and progressed to the high-speed wireless broadband and mobile internet connectivity. Currently, the internet service providers are focusing on extending their internet coverage to regions with no or limited internet services (especially the rural areas). However, there are certain cases when there is limited or no internet services received through wireless broadband connectivity. The primary reason resulting in the dysfunction or limited network of wireless broadband services is the limited reception of the satellite signals.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-space-global-low-cost-satellite-market-2017-2021
Black Sky, Dauria Aerospace, Deep Space Industries, Planet Labs, SpaceX, SPIRE, Axelspace, Clyde Space, GeoOptics, Sierra Nevada, SpaceQuest, RUAG Space, and Terran Orbital
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