Asia Pacific Small Satellite Market

The Asia Pacific small satellite market is expected to grow from US$ 888.57 million in 2022 to US$ 4,201.11 million by 2028; it is estimated to grow at a CAGR of 29.6% from 2022 to 2028.

Increasing Adoption of Small Satellites for Military Applications

Small satellites can be highly useful in military applications due to their short development time, low cost, and assembly line manufacturing processes. Many small satellite applications envision systems comprising the constellations of hundreds of satellites offer several advantages such as an increase in temporal resolution, revisit rate, and formation flying. Military officers can use small satellites to acquire real-time information, which can help them in decision making. Therefore, various countries are investing in small satellites. The project includes small satellites, satellite communications, space deterrence and reduction of on-orbit space debris, and launch. Similarly, in November 2021, Air Force Research Laboratory Space Vehicles Directorate announced that they had signed a contract with Tyvak Nano-Satellite Systems for experimenting in very low Earth orbit. Tyvak was awarded US$ 8.4 million for the satellite launch project and is projected to launch in 2024. Also, in July 2022, the Indian Army announced that they wanted a small satellite for training its signals officers. For this, the army issued a request for information (RFI) to the Indian companies to design and develop the communication satellite. Thus, the growing use of small satellites for military applications will further boost the market growth during the forecast period.

Market Overview

The Asia Pacific small satellite market, based on country, is segmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. The space industry across the region is majorly dominated by China, India, and Japan. In March 2022, the Wuhan government announced its intentions to invest US$ 7.88 million to expand the country’s space sector to US$ 15.7 billion by 2025. The government investment is intended to be used for satellite, rocket, and spacecraft development. Additionally, South Korea, Indonesia, Taiwan, Thailand, Malaysia, the Philippines, Vietnam, Singapore, Australia, New Zealand, and other Asia Pacific countries are also engaged in the rapid development of their space capabilities. In 2022, the Taiwan government announced to invest US$ 900 million in developing its space industry in the next 10 years. These factors are expected to increase the production of small satellites across Asia Pacific, thereby bolstering the growth of the small satellite market in the region.

Asia Pacific Small Satellite Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Small Satellite Market Segmentation

The Asia Pacific small satellite market is segmented on the basis of type, payload, application, vertical, and country. Based on type, the Asia Pacific 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 a larger market share in 2022.

Based on payload, the Asia Pacific small satellite market is segmented into automatic identification system (AIS), transmitter, imaging devices, and others. The automatic identification system (AIS) segment held the largest market share in 2022.

Based on application, the Asia Pacific small satellite market is segmented into earth observation, communication and navigation, and scientific research. The earth observation segment held the largest market share in 2022.

Based on vertical, the Asia Pacific small satellite market is segmented into government, military, and commercial. The commercial segment held the largest market share in 2022.

Based on country, the Asia Pacific small satellite market is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.

Lockheed Martin Corp; Northrop Grumman Corp; Raytheon Technologies Corp; and Thales SA are the leading companies operating in the Asia Pacific small satellite market.

Asia Pacific Small Satellite Market Strategic Insights

Asia Pacific Small Satellite Market Segmentation Analysis

Asia Pacific Small Satellite Market Report Highlights

Asia Pacific Small Satellite Report Scope

Asia Pacific Small Satellite Market Country and Regional Insights