The stakes are huge and exciting when it comes to high precision and complex space missions where microsatellites excel on space missions, such as remote-sensing and navigation, maritime and transport management, space and earth observation, disasters management, military intelligence, telecommunication, and others.
According to Research and Markets, the small satellite market is expected to grow from USD 2.22 billion in
2016 to USD 5.32 billion by 2021, at a CAGR of 19.14% from 2016 to 2021.
One can also observe that, the microsatellite segment is projected to be
the fastest-growing segment in the small satellite market.
The segment comprising mapping and navigation is projected to be the
fastest-growing segment in the small satellite market as it helps the Global
Navigational Satellite Systems (GNSS) to generate signals for effective
navigation and accurate global positioning data.
Among key
players of the industry, we have: