Market Research Report
Asia-Pacific Small Satellite Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||946211|
|Published||Content info||75 Pages
Delivery time: 2-3 business days
|Asia-Pacific Small Satellite Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 75 Pages||
The Asia-Pacific small satellite market is projected to grow with a CAGR of more than 15% during the forecast period.
Nanosatellite Segment Accounted for a Major Market Share in 2019
The nanosatellite segment of the market currently has the highest share in the market and is anticipated to continue its dominance over the market during the forecast period. The growth of the segment is mainly due to the increasing programs of nanosatellites in the region. Nanosatellites are widely deployed for earth observation and satellite communication applications. Various countries like China, Japan, and India among others have been launching new nanosatellites. As a part of increasing its nanosatellite constellation to 50 satellites, in February 2019, Myriota partnered with Tyvak Nano-Satellite Systems, Inc. to develop and launch multiple satellites in 2019. These satellites will be used to provide direct-to-satellite Internet of Things (IoT) connectivity to its customers. Similarly, NanoAvionics was selected for manufacturing a 12U nano-satellite bus for the Singaporean research mission "Cathode-Less Micro Propulsion Satellite" (CaLeMPSat). Such missions are anticipated to accelerate the demand for nanosatellites in the coming year.
China had the Highest Market Share in the Asia-Pacific Small Satellite Market in 2019
China is investing heavily in the space-based capabilities and according to the China National Space Administration, the country intends to launch about 100 satellites by 2025 and transform itself into a world-leading space power by 2045. The country has launched approximately 40 nanosatellites during the 2018-2019 period. Various companies are investing in the development of small satellites to increase their satellite-based services. GalaxySpace, a communication satellite manufacturer announced to invest about USD 700 million to launch a constellation of small satellites to provide global 5G communications for the airline and maritime industries, emergency, and disaster responders, etc. China launched a new remote sensing satellite as a part of Jilin-1 satellite constellation in November 2019 for commercial application like geological disaster prevention, harvest assessment, and resource surveys. The government plans to launch 60 satellites by 2020 and 137 by 2030. Such long term plans are anticipated to propel the demand for small satellites in the country.
Some of the prominent players in the market are Indian Space Research Organisation, Beijing Commsat Technology Development Co., Ltd., Spacety, NanoAvionics, and Thales Group. Spacety is one of the major companies that provide 10, 20 to 50 kg, and 200 kg small satellite platforms to governments, research institutes, universities, and commercial companies. The company is currently developing MiniSar, a synthetic-aperture radar (SAR) satellite scheduled to be launched by the third quarter for 2020. There are many players in the market including several universities, government agencies, and the militaries that are launching their own satellites, thereby increasing the competition in the market. Also, the growth in satellite-based services in the region is propelling the partnership of service providers and the satellite manufacturers in the region, which is anticipated to increase the share and presence of the satellite manufacturers in the market.