Small Satellite Market by Satellite Type (Microsatellite, Nanosatellite, and Minisatellite), Application (Surveillance & Security, Communication, Scientific Research & Exploration, Earth Observation & Meteorology, and Mapping & Navigation), Vertical (Defense, Commercial, Government, Non-profit Organizations, and Others): Global Market Size Estimates and Forecast (2019–2030)

Code: BMIRE00025803 | Pages: 100 | Industry: Aerospace and Defense | Date: Sep 2022 | Type: Global

The market was valued at US$ 5.8 billion in 2021 and is expected to hit US$ 36.15 billion by 2030, recording a CAGR of 23.0% during the forecast period.

The Increasing Adoption of Small Satellites for Commercial Applications has been Significantly Boosting the Market Growth.

The demand for small satellites has been mainly driven by the commercial sectors that are majorly focusing on launching different services across regions. The growing demand for constellation projects worldwide for commercial and government applications is one of the major factors propelling the growth of the global small satellite market. Further, in the developed countries with a significant number of small satellite manufacturers, the demand is mainly catered by domestic vendors, wherein international companies capture limited share of the market.

The commercial segment dominated the small satellite market in 2021. The segment growth is attributed to increasing number of satellite launches for commercial applications such as satellite TV dishes, telecommunication applications, radio broadcasting, etc. are propelling the growth of the small satellite market globally. For instance, during 2012-2022, over 4,663 small satellites were launched from over 44 launch vehicles across the world, wherein 6 main launchers, including Falcon 9, Soyuz, PSLV, Antares, Atlas V, and Electron, accounted for around more than 80% of the units launched. Further, according to several industry associations, it is expected that there will be more than 18,00 small satellite launches during the next 10 years (2022-2031). This will further drive the small satellite market growth during the forecast period.

Within the report, the market is segmented into satellite type, application, vertical, and geography. Based on satellite type, the small satellite market is segmented into microsatellite, nanosatellite, and minisatellite. Based on application, the small satellite market is segmented into surveillance & security, communication, scientific research & exploration, earth observation & meteorology, and mapping & navigation. Based on vertical, the small satellite market is segmented into defense, commercial, government, non-profit organizations, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

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Small Satellite Market Report Scope & Strategic Developments:

Report CoverageDetails4
Base Year:2021
Market Size in 2022:5.8 Billion (USD)
Forecast Period:2019 to 2030
Forecast Period 2022 to 2030 CAGR:23.00%
2030 Value Projection:36.15 billion (USD)
No. of Pages:100
Segments covered:Satellite Type, Application, Vertical 

Civil Government Applications are likely to Generate the Future Demand for Small Satellite Market

The civil government includes governmental space agencies, research institutes, etc. The civil government satellite operators account for around 7% of the total small satellite operators in the market in 2021. This is further expected to reach around 19% share by 2030. This is owing to the growing government investments in the small satellite systems as well as increasing manufacturing and launch capabilities. Further, NASA, ISRO, and several other civil government organizations are working on the development of advanced small satellites, including micro and mini satellites. They  are also developing the prototypes to operationalize the satellites for various missions. However, some of the factors such as scheduled government budgets and procurement cycles can slowdown the small satellite market growth due to budgeting issues or the unavailability of required tendered company within the allocated budget for future development plans, as the satellite technologies comprises of high cost.

Demand for Military Satellite Communications is Another Major Factor Accelerating the Market Growth.

Several governments are investing heavily in their respective defense sectors for the procurement of satellite communications and related warfare technologies which is another major factor likely to boost the demand for small satellite for government applications during the forecast period. Several armed forces are procuring advanced warfare technologies along with satellite-based communication systems for use in the warfare, monitoring, ISR, and critical communication operations.

In addition, the growing deployment of unmanned systems across the defense sector is another major factor supporting the growth of small satellite market. The armed forces deploy different types of unmanned systems and operate them remotely either in the water bodies, ground, or through airborne platforms wherein some of the unmanned systems specifically uses satellite signals to transmit the signals to its respective base. Therefore, the rising deployment of unmanned systems in large quantities is another major factor likely to boost the small satellite market growth for military applications.

Recent Strategic Developments in Small Satellite Market

The small satellite market has undergone several significant developments, and a few of these have been mentioned below:

  • In September 2021, the Indian Space Research Organization (ISRO) and Bhutan’s department of telecom signed a contract to jointly develop small satellite for Bhutan.
  • In February 2022, The Space Development Agency (SDA) awarded a contract worth US$ 700 million to Lockheed Martin Corporation for designing and developing 42 units of small satellites.
  • In May 2022, Open Cosmos signed a contract with European Space Agency for the development of small satellite constellation concept called NanoMagSat.

The small satellite market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Northrop Grumman Corporation, Airbus Defense and Space, L3Harris Technologies Inc., Planet labs Inc., Thales Group, Millennium Space Systems Inc., Aerospace Corporation, Sierra Nevada Corporation, Space Exploration Technologies Corp., and Surrey Satellite Technology Ltd. are among the prominent players operating in the market.

Target audience for the report:

  • Component providers
  • Small satellite manufacturers
  • Satellite component manufacturers
  • Satellite launch companies
  • Military and commercial satellite related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

Satellite Type (Microsatellite, Nanosatellite, and Minisatellite), Application (Surveillance & Security, Communication, Scientific Research & Exploration, Earth Observation & Meteorology, and Mapping & Navigation), Vertical (Defense, Commercial, Government, Non-profit Organizations, and Others)

  • Satellite Type
    • Microsatellite
    • Nanosatellite
    • Minisatellite
  • Application
    • Surveillance & Security
    • Communication
    • Scientific Research & Exploration
    • Earth Observation & Meteorology
    • Mapping & Navigation
  • Vertical
    • Defense
    • Commercial
    • Government
    • Non-profit Organizations
    • Others
  • Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
    • Asia Pacific (APAC)
    • Middle East & Africa
    • South America
  • Companies profiled
    • Northrop Grumman Corporation
    • Airbus Defense and Space
    • L3Harris Technologies Inc.
    • Planet labs Inc.
    • Thales Group
    • Millennium Space Systems Inc.
    • Aerospace Corporation
    • Sierra Nevada Corporation
    • Space Exploration Technologies Corp.
    • Surrey Satellite Technology Ltd.
  • Northrop Grumman Corporation
  • Airbus Defense and Space
  • L3Harris Technologies Inc.
  • Planet labs Inc.
  • Thales Group
  • Millennium Space Systems Inc.
  • Aerospace Corporation
  • Sierra Nevada Corporation
  • Space Exploration Technologies Corp.
  • Surrey Satellite Technology Ltd.
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