The North America Small Satellite Market Report Forecast 2021 – 2025 offers a clear understanding of the subject matter. The report has been gathered using principal and subordinate research methodologies. Both these methods are directed towards cooperating accurate and meticulous data concerning the market dynamics, historical events, and the current market landscape. Additionally, the report also includes a SWOT analysis that concludes the strengths, weaknesses, opportunities, and threats impacting the segments of the overall market. The report also takes into account the impact of the COVID-19 and also forecasts its recovery post-COVID-19.
The North American small satellite market is anticipated to register a CAGR of over 3% during the forecast period
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Top Key Players in the North America Small Satellite Market: 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., Thales Alenia Space
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 world have either developed their military satellite network or collaborates with their technology partners to access the technology as per their requirement. Several development projects are underway, and they may result 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 had 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 American small satellite market during the forecast period.
Market Size Estimation:
The Total Addressable Market (TAM) for estimating the market size two approaches are used: Bottom-up and Top-down approach. In the Bottom-up approach, the consumption of in the various segments is taken into account. The regional, segment-wise, and end-user uptake/consumption is taken into account for this approach. This is then totaled to arrive at the TAM for this approach. In the Top-down approach, the company-wise production in terms of both value and volume is taken into account and totaled for arriving at the TAM. This data is then bifurcated based on the consumption in the various market segments.
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This North America Small Satellite Market report addresses:
– The Market size from 2015-2020
– Expected market growth until 2025
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
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Covid-19 Impact Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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