Global Satellite Launch and Space Insurance Market 2018-2022| Growing Demand for Small Satellites to Boost Demand| Technavio
LONDON--(BUSINESS WIRE)--Sep 19, 2018--The global satellite launch and space insurance market 2018-2022 is expected to grow to USD 1,311 million during the forecast period, according to the latest market research report by .
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Technavio has published a new market research report on the global satellite launch and space insurance market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the rising number of satellite launches. The demand for satellite-based services such as EO, climate monitoring, and reconnaissance from the telecommunication industry is growing in several countries. Advances in satellite technology and the development of low-cost small satellites and nanosatellites have also increased the demand for new satellites. Several countries and private spaceflight companies are planning to increase their number of satellite launches during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growing demand for small satellites as one of the key emerging trends in the global satellite launch and space insurance market:
Global satellite launch and space insurance market: The growing demand for small satellites
The number of small satellites that were launched into the orbit had increased significantly in the last decade. Small satellites could be as small as a shoe box or as large as a washing machine.
“Small satellites cost less and require low capital investment to manufacture. The demand for small satellites is high for applications such as scientific exploration and EO as the low cost allows the deployment of several satellites, which enables simultaneous measurement and collection of real-time data,” says a senior analyst at Technavio.
Global satellite launch and space insurance market: Segmentation analysis
This market research report segments the global satellite launch and space insurance market by product (launch insurance and space insurance), by end-user (satellite manufacturers and satellite operators), and geographical regions (APAC, EMEA, and the Americas).
The EMEA led the market in 2017 with a market share of close to 77%, followed by APAC and the Americas respectively. The region is expected to continue to dominate the market during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 09/19/2018 01:48 PM/DISC: 09/19/2018 01:48 PM