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Global small satellite market valued at USD 4.90B in 2021, reached USD 5.60B in 2022, and projected to reach USD 12.02B by 2029 with a CAGR of 11.53%, driven by 3D printing adoption and growing satellite applications across sectors.

The global small satellite market size was valued at USD 4.90 billion in 2021 and reached USD 5.60 billion in 2022. The market is expected to be valued at USD 12.02 billion by 2029, exhibiting a CAGR of 11.53% during the forecast period. The rapid adoption of 3D printing parts for satellite manufacturing and rising applications of satellites from several sectors are expected to boost market progress. Fortune Business Insights™ presents this information in its report titled “Small Satellite Market, 2022-2029.”

The global small satellite market size was valued at USD 4.90 billion in 2021 and reached USD 5.60 billion in 2022. The market is expected to be valued at USD 12.02 billion by 2029, exhibiting a CAGR of 11.53% during the forecast period. The rapid adoption of 3D printing parts for satellite manufacturing and rising applications of satellites from several sectors are expected to boost market progress. Fortune Business Insights™ presents this information in its report titled “Small Satellite Market, 2022-2029.” List of Key Players Profiled in the Report: Airbus S.A.S (Netherlands) The Boeing Company (U.S.) Lockheed Martin Corporation (U.S.) Northrop Grumman Corporation (U.S.) Sierra Nevada Corporation (U.S.) ST Engineering (Singapore) Thales Group (France) SPACEX (U.S.) L3Harris Technologies, Inc. (U.S.) The report uncovers following points: Renowned insights into the industry Important data with in-depth research Factors exhibiting market growth A comprehensive study about main regions COVID-19 impact on the market Prime developments in the industry Browse Detailed Summary of Research Report: https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917 Russia-Ukraine War Impact Economic Sanctions Imposed by the U.S. and its Allies on the Russian Federation Negatively Affected the Industry The economic sanctions imposed by the U.S. and its allies on the Russian Federation are expected to affect this industry’s growth. Furthermore, the war negatively affected the global industries leading to import and export flow disruptions. The dominance of Russia and Roscosmos, a quasi-civilian space agency in the commercial space, affected alternative launch service providers in Japan, India, Europe, and the U.S. These factors negatively affected the market during the war.

According to the "Small Satellite Market, 2023-2029" report by Fortune Business Insights™, the global small satellite market size saw substantial growth, increasing from USD 4.90 billion in 2021 to USD 5.60 billion in 2022. It is projected to experience further expansion and reach a value of USD 12.02 billion by 2029, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 11.53% during the forecast period. The market's progress is attributed to two key factors: the rapid adoption of 3D printing technology for satellite manufacturing and the growing utilization of satellites across various sectors. These advancements are expected to play a crucial role in driving the market's growth in the coming years. List of Key Players Profiled in the Report: Airbus S.A.S (Netherlands) The Boeing Company (U.S.) Lockheed Martin Corporation (U.S.) Northrop Grumman Corporation (U.S.) Sierra Nevada Corporation (U.S.) ST Engineering (Singapore) Thales Group (France) SPACEX (U.S.) L3Harris Technologies, Inc. (U.S.) COVID-19 Impact: Production Delays and Postponed Satellite Launch Hindered Market Growth The market was negatively affected during the COVID-19 pandemic due to production delays and postponed satellite launches. The rapid spike in COVID-19 cases led to the adoption of stringent lockdown norms, thereby restricting satellite manufacturing. For example, the International Astronautical Federation (IAF) delayed the International Astronautical Congress space conference in April 2020. Airbus S.A.S stopped its production in Spain. Furthermore, the lack of manufacturing led to raw material shortages, resulting in production delays. These factors affected the market during the pandemic. Browse Detailed Summary of Research Report with TOC: https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917

The global small satellite market size was valued at USD 4.90 billion in 2021 and reached USD 5.60 billion in 2022. According to a report titled "Small Satellite Market, 2022-2029" by Fortune Business Insights™, the market is anticipated to reach a valuation of USD 12.02 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 11.53% during the forecast period. The market growth is expected to be driven by the swift adoption of 3D printing technology for satellite manufacturing and the growing utilization of satellites across various industries. List of Key Players Profiled in the Report: Airbus S.A.S (Netherlands) The Boeing Company (U.S.) Lockheed Martin Corporation (U.S.) Northrop Grumman Corporation (U.S.) Sierra Nevada Corporation (U.S.) ST Engineering (Singapore) Thales Group (France) SPACEX (U.S.) L3Harris Technologies, Inc. (U.S.) Browse Detailed Summary of Research Report with TOC: https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917