North America Small Satellite Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type [Nanosatellite (1 to 10 Kg) and Microsatellite (10 to 150 Kg)], Payload [Automatic Identification System (AIS), Transmitter, Imaging Devices, and Other

North America Small Satellite Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type [Nanosatellite (1 to 10 Kg) and Microsatellite (10 to 150 Kg)], Payload [Automatic Identification System (AIS), Transmitter, Imaging Devices, and Others], Application (Earth Observation, Communication and Navigation, and Scientific Research), and Vertical (Government, Military, and Commercial)

The North America small satellite market is expected to grow from US$ 1,325.42 million in 2022 to US$ 4,976.36 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2022 to 2028.

Growing Support for Development of Small Satellite

Various government authorities and companies across the North America have invested in the small satellite market owing to the increasing need for small satellites for various applications such as earth observation, communication and navigation, and scientific research. In November 2021, Fleet Space Technologies raised US$ 26 million in funds to expand the nanosatellite IoT connectivity fleet. Such investments from governments drive the growth of the small satellite market. The use of small satellites helps government authorities maintain national security, capture data regarding areas damaged by earthquakes or floods, monitor suspicious ships, and serve other purposes such as communication & navigation, earth observation, and scientific research operations. The governments of various countries are supporting the development of small satellites for earth observation. Under the project, the government announced that they would support the companies for quick construction and domestic production of a small satellite. Thus, the increasing initiatives for the development of small satellites fuel the growth of the small satellite market.

Market Overview

The North America small satellite market based on country, is segmented into the US, Canada, and Mexico. The demand for small satellites is increasing across North America owing to its rise in applications such as earth and space observation; IoT and communications; asset tracking; science and environment; and security, defense, and national space programs. Also, fleet management companies across North America are increasingly utilizing small satellites for real-time tracking of their huge commercial fleet, thereby reducing the risk of theft and downtime of vehicle by offering quick responses to vehicle failures. Such factors are catalyzing the demand for new small satellites across the space satellite sector. The small satellites are being launched for applications such as communication and isle tracking across the US. Such factors are driving the growth of the North America small satellite market.

North America Small Satellite Market Revenue and Forecast to 2028 (US$ Million)

North America Small Satellite Market Segmentation

The North America small satellite market is segmented based on type, payload, application, vertical, and country.

Based on type, the North America small satellite market is bifurcated into nanosatellite (1 to 10 Kg) and microsatellite (10 to 150 Kg). The microsatellite (10 to 150 Kg) segment held a larger market share in 2022.

Based on payload, the North America small satellite market is segmented into automatic identification system (AIS), transmitter, imaging devices, and others. The automatic identification system (AIS) segment held the largest market share in 2022.

Based on application, the North America small satellite market is segmented into earth observation, communication and navigation, and scientific research. The earth observation segment held the largest market share in 2022.

Based on vertical, the North America small satellite market is segmented into government, military, and commercial. The commercial segment held the largest market share in 2022.

Based on country, the North America small satellite market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
GomSpace Group AB; Lockheed Martin Corp; Northrop Grumman Corp; Raytheon Technologies Corp; Sierra Nevada Corp; Swarm Technology Inc; and Thales SA are the leading companies operating in the North America small satellite market.

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