USD 6.09 Billion
Small Satellite Market Size, Share, Growth Analysis, By Application(Communication, Earth Observation & Remote Sensing, Scientific Research, Education), By Subsystem(Satellite Bus (Attitude & Orbital Control Systems, Command & Data Handling Systems, Electrical Power Systems, Propulsion Systems {Chemical propulsion), By End-Use(Commercial (Satellite Operators/Owners, Media & Entertainment Companies, Energy Service Providers, Scientific Research & Development Organizations), By Mass(Small Satellite, Mini Satellite, Micro Satellite, Nano Satellite), By Frequency(L- Band, S-Band, C-Band, X-Band), By Orbit(Low Earth Orbit (LEO), Geostationary Earth Orbit (GEO), Medium Earth Orbit (MEO), and Others), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20A2173 |
Region:
Global |
Published Date: August, 2024
Pages:
202
|Tables:
65
|Figures:
75
Small Satellite Market Insights
Small Satellite Market size was valued at USD 6.09 Billion in 2023 and is poised to grow from USD 6.79 Billion in 2024 to USD 16.21 Billion by 2032, growing at a CAGR of 11.50% during the forecast period (2025-2032).
Small Satellite market has been witnessing substantial growth fueled by reduced launch costs, growing demand for satellite build services, and improvements in technology like advances in payload capacity and miniaturizations. The growing demand for remote sensing, disaster monitoring, and global broadband internet is propelling the need for small satellite constellations. Furthermore, the market is also supported by the growing investments by the private sector in space technology, resulting in several firms entering the small satellite sector. However, the market is hampered by technical limitations like restricted payload capacity and complex licensing processes, which could increase costs and delay projects. Yet, a few opportunities witnessed that will help the market progress further include expanding applications in disaster management and telecommunications, innovations in payloads and miniaturizations, and the entry of new players.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial
Fastest Growth
Commercial
Growth Rate
11.50% CAGR
Global Small Satellite Market ($ Bn)
Country Share for North America Region (%)
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Small Satellite Market Segmental Analysis
The global small satellite market is segmented based on application, subsystem, end-use, mass, frequency, orbit and region. Based on application, the market is segmented into Communication, Earth Observation & Remote Sensing, Scientific Research, Education, Technology, and Others. Based on subsystem, the market is segmented into Satellite Bus (Attitude & Orbital Control Systems, Command & Data Handling Systems, Electrical Power Systems, Propulsion Systems {Chemical propulsion, Electric propulsion, Hybrid propulsion}, Telemetry, Tracking, & Command Systems, Structures, Thermal Systems), Payload (Traditional Payloads {Optical & infrared payloads, Hyperspectral & multispectral payloads, SAR payloads, Communications payloads/transponders, Other traditional payloads}, Software-defined Payloads), Solar Panel, Satellite Antenna (Wire Antennas {Monopole antennas, Dipole antennas}, Horn Antennas, Array Antennas, Reflector Antennas {Parabolic reflectors, Double reflectors}), and Others. Based on end-use, the market is segmented into Commercial (Satellite Operators/Owners, Media & Entertainment Companies, Energy Service Providers, Scientific Research & Development Organizations, Other Commercial End Users), Government & Defense (Department of Defense & Intelligence Agencies, National Space Agencies, Search & Rescue Entities, Academic & Research Institutions, National Mapping & Topographic Agencies), and Dual use. Based on mass, the market is segmented into small satellite, mini satellite, micro satellite, nano satellite, CubeSat (0.25-0.5u, 1u, 2u, 3u, 6u, >12u), and others. Based on frequency, the market is segmented into l- band, s-band, c-band, x-band, ku-band, ka-band, q/v- band, hf/vhf/uhf-band, and laser/optical. Based on orbit, the market is segmented into low earth orbit (LEO), geostationary earth orbit (GEO), medium earth orbit (MEO), and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Application
Based on application, the small satellite market is categorized into communication, earth observation & remote sensing, scientific research, education, technology, and others. The communication segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to the increased demand for connectivity, technological advancements, cost-efficiency, and scalability & flexibility. The need for reliable communication, mainly between the underserved and remote areas is increasing largely. Small satellites can effectively offer connectivity for voice and internet services. Moreover, innovations like LEO satellite constellations allow high bandwidth and low latency, increasing their appeal for telecommunications. Furthermore, affordability of small satellites, and flexibility and scalability to cater to the growing demand can be easily made with communication demands.
On the other hand, the earth observation & remote sensing segment is projected to grow considerably over the forecast period owing to rising demand for data, cost-efficiency, technological developments, and frequent revisit times. There is a growing demand for hi-resolution data and imaging for uses like urban planning, agriculture, disaster management, and environmental monitoring. These satellites also offer affordability to develop and launch, allowing businesses and governments to install multiple satellites for exhaustive monitoring without needing additional costs. Developments in imaging capabilities and sensor technology enable these satellites to deliver quality data. Also, small satellite constellations can capably offer timely and frequent data collection, important for tracking changes in climate, land use, and natural calamities.
Analysis by End-Use
Based on end-use, the market is segmented into commercial, government & defense, and dual use. The commercial segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to mounting demand for connectivity, diverse applications, and cost-effective solutions. There is a growing demand for communication and broadband internet services, mainly in the remote areas, fueling investments in small satellites. These satellites are largely used for multiple commercial uses, comprising logistics, agriculture, and environmental monitoring, thus increasing their reach. Furthermore, the affordability of these satellites increases their accessibility for commercial uses, enabling businesses to install their satellites without needing extra costs with bulky systems.
On the other hand, the government & defense segment will hold a remarkable market share in the coming years owing to strategic applications, speedy deployment, improved capabilities, and international alliance. Governments use small satellites for crucial applications like reconnaissance, surveillance, and serving communications, which are needed for national security. They can swiftly install small satellites enabling timely response and fight progressing threats. Improvements in technology have enhanced competencies, enabling them to conduct challenging tasks, which was earlier stored for large satellites. Governments are increasingly partnering with other nations and private companies, nurturing developments and increasing use in security and defense areas.
Global Small Satellite Market Size By End-Use
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Small Satellite Market Regional Insights
Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the established industry network, major investments, technological advancements, and favorable government initiatives. North America holds developed aerospace and defense industry, offering strong infrastructure for launch and development of satellites. Growing private and government investment, mainly in innovation and technology, is fueling the market growth in the region. The region is also a hub for several new entrants and prominent companies that pioneer improvements, comprising payload capabilities and miniaturization. Moreover, favorable government initiatives, comprising civilian and military satellite programs aid the deployment and development of small satellites. The key players profiled in the region include Boeing Co., Lockheed Martin Corporation, Northrop Grumman Corporation, Planet Labs Inc., Spire Global Inc., and more.
Europe is the fastest-growing region in the global small satellite market due to strong government support, diverse industry base, and emphasis on earth observation. European agencies and governments like (ESA) European Space Agency offer strong backing and funding for the development of satellites, thus nurturing collaboration and advancements. A broader range of businesses from leading aerospace companies and innovative new entrants, lead to a dynamic network concentrated on small satellite technology. Europe also holds strong focus on environmental monitoring and Earth observation, thus fueling the need for small satellites that can capably offer crucial data for agriculture and climate applications.
Global Small Satellite Market Size By Geography
- Largest
- Fastest
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Small Satellite Market Dynamics
Drivers
Growing Commercialization and Investment
- The growth of novel space companies and startups is majorly attracting heavy investments by venture capitals. This growing interest is resulting in speedy commercialization and innovations in small satellite technologies. Moreover, the governments are also actively partnering with private firms to utilize their specialization and speed up the adoption of small satellite technologies for diverse applications.
Rising Awareness of Space-Based Solutions
- Research institutes and universities are actively engaged in small satellite projects. This supports the rising trend and culture of knowledge and innovations sharing in the space industry. Furthermore, the enthusiasm regarding satellite technology and space exploration has resulted in increasing awareness and interest, aiding the demand for small satellite uses.
Restraints
Concerns Associated with Space Debris
- The proliferation of small satellites increases concerns regarding potential collisions and space debris. This results in stringent regulatory inspection and demand for efficient debris mitigation tactics. Also, the need for sustainable practices in end-of-life management and satellite design is increasing, but compliance may notably add complexity and costs, thus restraining the market growth.
Heavy Reliance on Launch Services
- Dependency on 3rd party launch providers may develop obstacles, mainly during peak demand periods. Any delays in schedules of launch may affect overall business operations. Also, variations in launch costs may impede the growth of the market. Despite costs having reduced, they can be volatile depending on project planning and budgeting.
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Small Satellite Market Competitive Landscape
The competitive landscape of the small satellite market is differentiated by an array of players, comprising established aerospace firms, progressing new entrants, and government agencies. The leading aerospace companies like Airbus, Lockheed Martin, and Boeing are heavily investing in small satellite competencies and technologies. Several newbies like Spire Global, Planet Labs, and Rocket Labs are aiming to create their presence with dedicated small satellite launch services and solutions. Companies are also engaged in technological advancements like AI for data processing, propulsion systems, and more to mark their unique offerings and optimize performance. Though North America and Europe are the lead regions, Asia-Pacific is projected to witness intensified growth with the entry of locals.
Top Player’s Company Profiles
- Airbus SE (Netherlands)
- Boeing Co. (US)
- Lockheed Martin Corporation (US)
- Northrop Grumman Corporation (US)
- Planet Labs Inc. (US)
- Spire Global Inc. (US)
- Thales Alenia Space (France)
- Ball Corporation (US)
- Sierra Nevada Corporation (US)
- Maxar Technologies Inc. (Canada)
- GomSpace Group AB (Denmark)
- OneWeb Satellites (US)
- Kepler Communications (Canada)
- OHB SE (Germany)
- Axelspace Corporation (Japan)
- ICEYE (Finland)
- Rocket Lab USA, Inc. (US)
- Astro Digital (US)
- EnduroSat (Bulgaria)
- AAC Clyde Space (Sweden)
- Kleos Space S.A. (Luxembourg)
- Space Flight Laboratory (Canada)
Recent Developments
- In September 2024, Airbus SE launched the 3rd Copernicus Sentinel-2 satellite on Vega rocket from French Guiana, in Kourou. This Sentinel-2C satellite by Airbus will enter the offering at 780 km in low Earth Orbit, following commissioning and initial testing.
- In September 2024, Boeing announced the scheduled launch of satellite, dubbed Q4S in 2026. This satellite is specially designed to present quantum entanglement swapping competencies on orbit. This pioneer mission funded by Boeing bridges the gap towards humanity and creating a safe global quantum internet linking computer and quantum sensors.
- In February 2024, Lockheed Martin introduced two small satellites as units of the mission, ‘Pony Express 2’ to assess mesh networking in space. The mission is aimed to present novel technologies like autonomous tasking of satellites and open standards of mesh networking.
Small Satellite Key Market Trends
- Growth of Mega Constellations: At present, several companies are adopting and installing large constellations of smaller satellites to offer broadband internet coverage globally. These companies include OneWeb, SpaceX (Starlink), and Amazon (Project Kuiper). This trend is notably fueling innovations in launch capabilities and satellite design to aid high-volume adoption. This trend is anticipated to majorly impact the growth of the small satellite market.
- Improvements in CubeSat Technologies: CubeSats are gaining huge popularity owing to their modular design, versatility, and affordability for numerous missions. These comprise technology, scientific research, commercial applications, and demonstration. This trend allows a wide range of businesses, comprising small enterprises and universities to engage in missions, supporting research and innovations. These advancements in CubeSat are fueling market growth.
Small Satellite Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the small satellite market is considerably progressing due to the growing demand for satellite services, favorable government policies and initiatives, and global connectivity needs. However, the market is restrained by the intensifying market competition, reliance on launch services, and concerns with data security and privacy. North America is anticipated to lead the market owing to mounting demand for satellite services in communications, strong government initiatives, and heavy investments by private and governments. Nonetheless, a few opportunities impacting the market growth include global connectivity solutions, security and defense applications, and environmental and sustainability monitoring.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.46 Billion |
| Market size value in 2031 | USD 14.54 Billion |
| Growth Rate | 11.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Small Satellite Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Small Satellite Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Small Satellite Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Small Satellite Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Small Satellite Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Small Satellite Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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