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 the report titled "Small Satellite Market, 2022-2029" by Fortune Business Insights™, the market is projected to reach a value of USD 12.02 billion by 2029, with a CAGR of 11.53% during the forecast period. The market growth is expected to be driven by the increasing adoption of 3D printing for satellite manufacturing and the expanding applications of small satellites across various sectors. These factors are anticipated to contribute to the progress of the market in the coming years, as highlighted in the report by Fortune Business Insights™. 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 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. Segmentation : Small Satellite Industry Type: Nano Satellite, Micro Satellite, Mini Satellite, Pico Satellite Application: Earth Observation, Communication, Scientific Research, Technology Development, Others End User: Government & Military, Commercial, Civil Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Others Region: North America, Europe, Asia Pacific, Middle East & Africa, Latin America Report Coverage The report offers an in-depth analysis of the prominent segments and emerging trends within the market. It provides a comprehensive discussion on the factors driving and hindering market growth, including the impact of the COVID-19 pandemic. Furthermore, the report examines regional developments and explores the strategies implemented by key players in the market. Drivers and Restraints Robust Internet of Things Adoption in the Manufacturing Sector to Foster Market Progress Small satellites are objects developed and designed for earth observation, communication, navigation, and other purposes. Satellites are launched into several orbits that comprise Geostationary Earth Orbit (GEO), Medium Earth Orbit (MEO), and Low Earth Orbit (LEO) with the help of rockets. The robust Internet of Things (IoT) adoption in the manufacturing sector is expected to enhance satellite adoption. Furthermore, the rising adoption of satellites for transport, consumers, oil & gas, and mining is likely to fuel industry growth. These factors may drive the small satellite market growth. However, launch vehicle shortage is expected to hinder the market growth. Regional Insights Rising Research & Development Investments in NASA to Fuel Growth in North America North America is expected to dominate the small satellite market share due to rising research and development investments in NASA. The market size in North America stood at USD 2.53 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Furthermore, the adoption of tri-band antenna and SKYWAN technology is expected to foster the industry’s progress. For example, CubeSat announced a launch initiative from its international space station for the 109th CubeSat in July 2020. In Europe, launching IoT services and the internet for numerous applications is expected to enhance the product adoption. Furthermore, the rising focus on executing and developing low-cost missions is expected to propel market growth. In Asia Pacific, strong demand from India, Japan, and China is expected to foster industry growth. Furthermore, the development of plans by ISRO is expected to foster the industry’s progress. Competitive Landscape Prominent Players Announce Novel Facilities to Expand Market Reach Prominent companies operating in the market announce novel facilities to expand their market reach. For example, Boeing announced its novel high-throughput test facility, integration, and small satellite production in March 2022. This development was meant to enhance productivity and fasten delivery times. The production facility shall be powered by Millennium Space Systems, a Boeing subsidiary, and shall be housed in the largest satellite production facility globally. This strategy may expand the company’s market reach worldwide. Further, companies devise automated production techniques, research and development, mergers, acquisitions, and collaborations to enhance the market growth.

The global marine battery market size was USD 583.4 million in 2020. The market is expected to grow from USD 676.2 million in 2021 to USD 2,055.8 million by 2028, exhibiting a CAGR of 17.05% during the forecast period. The rising focus on developing low emission solutions and increasing development of alternative energy resources is expected to propel market growth. Fortune Business Insights™ presents this information in its report titled “Marine Battery Market, 2021-2028.” A marine battery, also known as a marine deep cycle battery, is a type of battery specifically designed for use in marine applications. These batteries are designed to provide reliable power for marine vehicles and equipment, such as boats, yachts, and other watercraft. Segments By battery, the market is segmented into lithium-ion, fuel cell, lead acid battery, nickel cadmium, and sodium-based. As per capacity, it is classified into less than 100Ah, 100-250 Ah, and greater than 250 Ah. On the basis of design, it is bifurcated into a solid-state battery and flow battery. Based on application, it is classified into defense and commercial. Regionally, it is clubbed into North America, Europe, Asia Pacific, and the Rest of the World. Report Coverage The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players. Browse Summary https://www.fortunebusinessinsights.com/marine-battery-market-106582 List of Key Players Profiled in the Report: Akasol AG (Germany) EnerSys (U.S.) Exide Industries Ltd. (India) Furukawa Battery Solutions Co. Ltd. (Japan) S. Yuasa Corporation (Japan) HBL Power Systems Ltd. (India) Johnson Controls International (Ireland) Leclanché SA (Switzerland) Saft Groupe S.A. (France) Siemens AG (Germany) Systems Sunlight SA (Greece) Toshiba Corporation (Japan) Wärtsilä Oyj Abp (Finland) Drivers and Restraints Strong Demand for Alternative Energy Resources and Maritime Infrastructure to Bolster Growth Rising demand for alternative energy resources is expected to boost the adoption of marine battery. As per the Maritime Supply Chain Optimization’s study, world trade depends extensively on maritime transport. Furthermore, rising sea trade routes for nearly 90% of goods are expected to fuel the product adoption. Moreover, the rising demand for better maritime infrastructure and tourism is expected to bolster industry development. Also, the rising demand for better connectivity in the marine sector and the adoption of the products are likely to surge the product sales. These factors may drive the marine battery market growth. However, high costs associated with the product, limited range, and capacity are expected to restrain the market growth. Regional Insights Presence of Several Marine Operators to Boost Market Growth in Europe Europe is projected to dominate the marine battery market share due to the presence of several marine operators. The market in Europe was valued at USD 195.5 million in 2020 and is expected to gain a significant market share in the upcoming years. Further, competitors' procurement of advanced electric propulsions for future marine vessels is expected to fuel industry development. In North America, the rising utilization of electric propulsion by NOAA, defense utilities, and other governmental and commercial applications is expected to foster industry growth. Further, the rising adoption of marine batteries for leisure boats is expected to boost market development during the pandemic. In Asia Pacific, there is presence of major manufacturers such as Furukawa Battery Solutions, Korea Special Battery, Exide Industries Ltd., and Toshiba Corporation. These factors may propel market development. Competitive Landscape Companies Acquire Contracts to Boost Market Position Prominent companies operating in the market acquired contracts to boost their market position. For example, Wartsila acquired a contract with Zero Emissions Services BV (ZES) to deliver Warsila's mobile battery container solutions in September 2021. This strategy may enable the company to boost its market position. Furthermore, companies adopt mergers, acquisitions, automated production techniques, and expansions to attract consumers, boost product sales, and achieve organizational goals. Industry Development November 2021: Siemens Energy AS was selected by the National Oceanographic and Atmospheric Administration (NOAA) for the completion of a contract and equipping its research vehicles with integrated battery storage solutions, control systems, power, and electric propulsions.