Low-Cost Satellite industry share To Expand at a Notable CAGR Of 8% During 2018Posted by Nita on November 26th, 2020 Market Highlights In the recent years, there have been some major developments of small and low-cost satellite systems, which drive the market growth. Some of them have been mentioned below:
The global low-cost satellite market has been segmented by satellite type, function, end-user, and region. On the basis of satellite type, the low-cost satellite market is divided into nano-, micro-, and others. In 2017, the micro satellite segment dominated the global market and it is expected that the nano satellite segment would witness the fastest market growth, during the forecast period. This is primarily because of the large number of micro satellites being launched in the recent years, by a number of countries. Similarly, in an attempt to reduce the satellite launch costs, extensive investments are being done on the nano satellite systems. On the basis of function, the low-cost satellite market is divided into communication, imaging, and others. In 2017, the communication segment dominated the global market and is also expected to witness the fastest growth, during the forecast period. This is primarily due to the rapid advancements in high-speed communication technologies along with the introduction of the 5G technology. On the basis of end-user, the low-cost satellite market is divided into commercial and military. In 2017, the commercial segment dominated the global market and it is expected that the military segment would witness the fastest growth, during the forecast period. This is primarily due to the increasing commercial applications through the satellite services in the recent years such as earth observation, meteorology, scientific research & exploration, and mapping & navigation, among others. Key Players Browse Complete Report @ https://www.marketresearchfuture.com/reports/low-cost-satellite-market-7136 Like it? Share it!More by this author |