At 20.1% CAGR, the Europe Small Satellite Market is projected to be worth US$ 2,245.82 million by 2028, says Business Market Insights           

According to Business Market Insights’ research, the Europe small satellite market was valued at US$ 746.74 million in 2022 and is expected to reach US$ 2,245.82 million by 2028, registering a CAGR of 20.1% from 2022 to 2028. Mounting support for development of small satellite and growing number of partnerships and contracts are the critical factors attributed to the Europe small satellite market expansion.                          

Most of the CubeSat constellations operate in low Earth orbit (LEO). However, small satellites have started to expand their operations beyond LEO and into deep space. In 2018, the MarCO mission reached Mars with its two six-unit spacecraft. It was the first step for CubeSats to overcome the technological gap and operate beyond LEO. According to the Nanosats Database, in 2020, one CubeSat was launched beyond LEO. At the same time, they have also provided the data of the predicted satellite launches announced for the CubeSats launch beyond LEO. This is expected to drive the Europe small satellite market during the forecast period.

On the contrary, absence of small satellite manufacturers across emerging countries hurdles the growth of Europe small satellite market. 

Based on type, the Europe 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 73.3% market share in 2022, amassing US$ 547.59 million. It is projected to garner US$ 1,593.11 million by 2028 to expand at 19.5% CAGR during 2022–2028.  

Based on payload, the Europe small satellite market is categorized into automatic identification system (AIS), transmitter, imaging devices, and others. The automatic identification system (AIS) segment held 40.7% market share in 2022, amassing US$ 304.18 million. It is projected to garner US$ 874.31 million by 2028 to expand at 19.2% CAGR during 2022–2028. 

Based on application, the Europe small satellite market is categorized into earth observation, communication and navigation, and scientific research. The earth observation segment held 62.6% market share in 2022, amassing US$ 467.34 million. It is projected to garner US$ 1,359.77 million by 2028 to expand at 19.5% CAGR during 2022–2028.

Based on vertical, the Europe small satellite market is categorized into government, military, and commercial. The commercial segment held 71.4% market share in 2022, amassing US$ 532.81 million. It is projected to garner US$ 1637.02 million by 2028 to expand at 20.6% CAGR during 2022–2028.

Based on country, the Europe small satellite market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe.  Our regional analysis states that France captured 28.6% market share in 2022. It was assessed at US$ 213.43 million in 2022 and is likely to hit US$ 668.80 million by 2028, exhibiting a CAGR of 21.0% during the forecast period.            

Key players dominating the Europe small satellite market are Dauria Aerospace; GomSpace Group AB; Lockheed Martin Corp; Northrop Grumman Corp; Raytheon Technologies Corp; Sierra Nevada Corp; Surrey Satellite Technology Ltd; Thales SA; and Tyvak international SRL among others.

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