Low-Cost Satellite Market-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2018-2025

                                          
Abstract
                    
The report covers forecast and analysis for the low-cost satellite market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the low-cost satellite market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the low-cost satellite market on a global level.

As per the report, the global demand for low-cost satellite market was valued at approximately USD 2.31 billion in 2018 and is expected to generate revenue of around USD 3.47 billion by end of 2025, growing at a CAGR of around 6.2% between 2019 and 2025.


The low-cost satellite market is anticipated to grow exponentially in the forecast time period owing to the elevating technological advancements in the small satellites. Moreover, the reduced cost for launching low-cost satellite will further drive the growth of low-cost satellite in the projected period. However, the requirement of high infrastructure can hinder the growth of the low-cost satellite market in the forecast period. The technological advancement can provide a vast number of opportunities to the global low-cost satellite market.

The low-cost satellite market is segmented on the basis of function, end-user, satellite type, and region. On the basis of function, the low-cost satellite market is bifurcated into imaging, communication, and others. The communication segment is anticipated to drive the low-cost satellite market due to the advancement in communication sector. Moreover, the introduction of 5G technology globally is another factor serving for the growth of the market. 

Based on satellite type, the low-cost satellite market is divided into nano-satellite, micro satellite, and others. In the forecasted period, nano satellite is presumed to grow substantially owing to its cost-effective nature.

Commercial users and military users constitute the end-user segment of the low-cost satellite market. The commercial users segment is assumed to be growing significantly due to the escalated application of satellite services.

The North American market for low-cost satellite anticipates contributing a significant share of revenue during the forecast period. The growth is presumed owing to the presence of major companies in the region such as Lockheed Martin Corporation and SpaceX. Infrastructural advancements in the U.S., Canada, Mexico has anticipated the growth of the low-cost satellite market. Moreover, many major economies of the region are concerned with space programs, further driving the growth of the low-cost satellite market.

In Asia Pacific, the low-cost satellite market anticipates growing significantly owing to the increasing investment of the governments in the satellite systems. Asia Pacific countries such as India, China, and Japan are estimated to drive the target market in the region. Moreover, the region shows continuous advancements in technology, driving the low-cost satellite market growth in the forecasted period.

The major players in the global low-cost satellite market are OneWeb, Spire Global Inc., Sierra Nevada Corporation, Dauria Aerospace, Lockheed Martin Corporation, SpaceX, Axelspace Corporation, OHB AG, Geooptics Inc., and Planet Labs Inc. among others.

Global Low-Cost Satellite Market: Function Segment Analysis

	Imaging
	Communication
	Others

Global Low-Cost Satellite Market: End User Segment Analysis

	Commercial
	Military

Global Low-Cost Satellite Market: Satellite Type Segment Analysis

	Nano satellite
	Micro satellite
	Others

Global Low-Cost Satellite Market: Regional Segment Analysis

	North America
	
		U.S.
	
	
	Europe
	
		UK
		France
		Germany
	
	
	Asia Pacific
	
		China
		Japan
		India
	
	
	Latin America
	
		Brazil
	
	
	Middle East and Africa