Chicago, IL -- (SBWIRE) -- 07/27/2017 -- The most beneficial aspect of small satellites is that due to their low mass and small size, several satellites can be launched together at the same time. Small satellites are also called as miniaturized satellites or smallsats which usually weigh less than 500 Kgs. Although small, based on their mass, the satellites are classified further. Small satellites are higher in demand as they significantly minimize economic costs associated with launch vehicles and its construction. Miniature satellites although smaller in size are no less than the actual satellites in terms of capability. They can be collectively used to gather scientific data, and act as signal relays.

The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the small satellite market. The scope of this report covers the small satellite market by its major segments, which include the types, applications, and the major geographic regions.

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The small satellite market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. North America is the most dominant regions of all. NASA and the Department of Defense in the U.S. are in high demand of small satellites resulting in the largest revenue contribution of the region. In addition, there is large number of private sectors such as research organizations and telecommunications that are promoting the growth of the small satellites market in the North America region. The European region is witnessing a fast-paced growth in the forecasted period due to high demand of small satellites in battlefields missions, earth observation activities and scientific studies performed by various government and private organizations.

KEY MARKET PLAYERS

Key players in the small satellite market include:

1. Sierra Nevada Corporation
2. Singapore Technologies Engineering Limited
3. Surrey Satellite Technology Ltd.
4. Planet Labs Inc.
5. Airbus Defense and Space
6. Northrop Grumman Corporation
7. Space Exploration Technologies Corp. (Space X)
8. Boeing
9. Thales Alenia Space
10. Millennium Space Systems Inc.

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