Fri. Sep 29th, 2023
Philippines Small Satellite Market Expected to Reach US$ 79.0 Million by 2030

The Philippines small satellite market is projected to reach US$ 79.0 million by 2030, with a compound annual growth rate (CAGR) of over 8.1%, according to a market report by RationalStat. The government of the Philippines has been supporting the development of the local space industry, encouraging the use of small satellites for various purposes including disaster management, agriculture, environmental monitoring, and telecommunications. This support has led to the emergence of local businesses and researchers in the small satellite industry.

Small satellites, such as CubeSats or nanosatellites, offer a low-cost alternative to large-scale satellites. They are cheaper to build, launch, and operate. As a result, both government and business entities in the Philippines, including startups and universities, have invested in and developed small satellite technology.

The market assessment by RationalStat analyzes the Philippines small satellite market based on market segments including type, application, and geography/regions. The report provides market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030. It covers market value, volume, demand assessment, price points, cost structures, financial assessments, key developments, import-export data, trade overview, and more.

Minisatellites are predicted to be the largest and fastest expanding segment of the small satellite industry in the Philippines. In terms of application, the commercial segment dominates the market due to the increasing number of internet services and mobile customers.

The report also includes an analysis of the macroeconomic scenario and the impact of COVID-19 on regional economic sentiment. The global economy faced challenges in recent years due to geopolitical conflicts, inflation, volatility in energy sectors, and the COVID-19 pandemic. However, improvement in economic activities is expected in the forecast period.

In terms of competition analysis, the report provides a benchmarking analysis of leading companies in the Philippines small satellite market. Players in the market adopt strategies such as mergers and acquisitions, partnerships, and product launches to gain a competitive edge.

Overall, the Philippines small satellite market is expected to grow significantly in the coming years due to the government’s support and the cost advantages of small satellites.