The Philippines' Small Satellite Market is expected to reach US$ 79 million by 2030 with a CAGR of over 8.1%
Philippines Small Satellite Market is valued at US$ 42 million in 2022 and is expected to grow at a significant CAGR of over 8.1% over the forecast period of 2023-2030, market report by RationalStat.
Market Definition, Market Scope, and Report Overview
The Philippine government has supported the development of the local space industry. It has undertaken programs and initiatives to promote the use of tiny satellites for various purposes, including disaster management, agriculture, environmental monitoring, and telecommunications. These measures have allowed local businesses and researchers to enter the small satellite industry.
Further, small satellites, commonly known as CubeSats or nanosatellites, are a low-cost alternative to large-scale satellites. Compared to their larger cousins, they are less expensive to build, launch, and operate than their larger cousins. Because of the cheaper costs of small satellites, government and business entities in the Philippines, including startups and universities, have invested in and developed small satellite technology.
According to a deep-dive market assessment by RationalStat, the Philippines small satellite market has been analyzed based on market segments, including type, application, and geography/regions (including Luzon, Visayas, and Mindanao). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
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Competition Analysis and Market Structure
These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Philippine's small satellite market include,
· In January 2022, Starlink, SpaceX's satellite internet company, applied for a commercial license to provide broadband and other services in India.
· In November 2021, Starlink, a subsidiary of SpaceX, unveiled a new rectangular dish capable of receiving the company's internet signal while orbiting overhead.
Some of the prominent players and suppliers operating and contributing significantly to the Philippines small satellite market growth include Airbus, Blue Canyon Technologies, Planet Labs, Thales Alenia Space, and Surrey Satellite Technology Ltd. RationalStat has segmented the Philippines small satellite market based on type, application, and region.
Philippines Small Satellite Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
o Microsatellites
o Minisatellites
o Nanosatellites
o Others
Philippines Small Satellite Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
o Civil
o Commercial
o Military
Philippines Small Satellite Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o Luzon
o Visayas
o Mindanao
Leading Companies and Market Players
o Airbus
o Blue Canyon Technologies
o Planet Labs
o Thales Alenia Space
o Surrey Satellite Technology Ltd
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