Report : Middle East & Africa 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)
At 13.7% CAGR, the Middle East & Africa Small Satellite Market is speculated to be worth US$ 254.07 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa small satellite market was valued at US$ 117.53 million in 2022 and is expected to reach US$ 254.07 million by 2028, registering a CAGR of 13.7% from 2022 to 2028. Growing support for progress of small satellite and growing number of partnerships and contracts are the critical factors attributed to the Middle East & Africa small satellite market expansion.
The growing need for small satellites encourages market players to make strategic partnerships, collaborations, and contracts. In April 2022, NASA awarded a contract of US$ 280 million to SATCOM companies to develop near-Earth space communication services. Under this contract, Elon Musk's Space Exploration Technologies is awarded the largest amount of US$ 69.95 million, followed by Kuiper Government Solutions (US$ 67 million), Viasat Incorporated (US$ 53.3 million), Inmarsat Government (US$ 28.6 million), SES Government Solutions (US$ 28.96 million). Several companies are making contracts and partnerships to provide small satellites for various applications such as communication, navigation, and earth observation. Therefore, the rising number of such initiatives bolsters the growth of the small satellite market. This is expected to drive the Middle East & Africa small satellite market during the forecast period.
On the contrary, want of small satellite manufacturers across emerging regions hurdles the growth of Middle East & Africa small satellite market.
Based on type, the Middle East & Africa 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 72.9% market share in 2022, amassing US$ 85.66 million. It is projected to garner US$ 179.09 million by 2028 to expand at 13.1% CAGR during 2022–2028.
Based on payload, the Middle East & Africa small satellite market is categorized into automatic identification system (AIS), transmitter, imaging devices, and others. The automatic identification system (AIS) segment held 42.1% market share in 2022, amassing US$ 49.53 million. It is projected to garner US$ 102.67 million by 2028 to expand at 12.9% CAGR during 2022–2028
Based on application, the Middle East & Africa small satellite market is categorized into earth observation, communication and navigation, and scientific research. The earth observation segment held 30.3% market share in 2022, amassing US$ 35.63 million. It is projected to garner US$ 74.12 million by 2028 to expand at 13.0% CAGR during 2022–2028.
Based on vertical, the Middle East & Africa small satellite market is categorized into government, military, and commercial. The commercial segment held 63.4% market share in 2022, amassing US$ 74.52 million. It is projected to garner US$ 165.58 million by 2028 to expand at 14.2% CAGR during 2022–2028.
Based on country, the Middle East & Africa small satellite market has been categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 46.2% market share in 2022. It was assessed at US$ 54.31 million in 2022 and is likely to hit US$ 122.13 million by 2028, exhibiting a CAGR of 14.5% during the forecast period.
Key players dominating the Middle East & Africa small satellite market are Lockheed Martin Corp; Northrop Grumman Corp; Raytheon Technologies Corp; and Thales SA among others.
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