The global Small Satellite Market was valued at USD 2.9 Billion in 2022 and is projected to reach a value of USD 8.86 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 17.3% between 2023 and 2030.
The number of 3D-printed components aboard tiny satellites is increasing due to technological advances in additive manufacturing. Small Satellite manufacturers are adopting this technology to reduce costs and accelerate the production of increasingly capable spacecraft. Advances pave the way for a future in which satellites can print components in space. In addition, satellites and other essential satellite instruments, such as antennas and radars, can be 3D-printed in space using sunlight and a newly patented technology that promises to eliminate large and heavy satellite parts that take up too much room in a rocket. In May 2022, Mitsubishi Electric Corporation developed a novel solar-powered 3D printing method for satellite antennas in space. When exposed to the sun's ultraviolet radiation, a special variety of resin Mitsubishi uses hardens it into a rigid substance. The new technique could reduce costs by eliminating the need to transport numerous space-intensive components into orbit.
Small Satellite Market Size, 2022 To 2030 (USD Billion)
Internet connectivity is required for the Internet of Things (IoT). Wi-Fi, Bluetooth, and terrestrial GSM networks support numerous Internet of Things applications. However, they cannot provide the same level of coverage as satellites. Satellite technology has emerged as a crucial enabler for transforming IoT connections across industries and geographies. Transportation, mining, oil & gas, and consumers are among the applications. IoT devices utilize satellite connectivity during manufacturing for data transmission and exchange between components and IoT systems. Consequently, the industrial sector and process automation rely heavily on satellite connectivity, propelling the industry forward.
IoT devices consume the least energy, which is its principal advantage. IoT provides professional users with secure, high-availability data services and high service reliability for effective IoT installation. The connectivity provided by IoT in industrial applications for machine control and production via satellites is anticipated to benefit the market. These are some of the main factors anticipated to drive market growth.
Report Coverage & Deliverables
- Real-Time Data Updates:
- Competitor Benchmarking
- Market Trends Heatmap
- Custom Research Queries
- Market Sentiment Analysis
- Demographic and Geographic Insights
The ongoing conflict in Ukraine, the economic sanctions imposed by the United States and its allies on the Russian Federation, and Russia's response to these sanctions have various effects on the space environment. The impact of the Russo-Ukrainian conflict on civil space relations between Russia and the West affects the industry's development. The repercussions of the conflict are not restricted to cooperation in the civil sphere.
Top Market Trends
- Increasing Demand for Low Orbit Satellites: In developed nations, Small Satellites with increased capacity for enterprise data (retail, banking), energy (oil, gas, mining), and governments are in high demand. Consequently, the demand for affordable broadband is increasing among consumers in less developed nations. Expectations propel investments in LEO constellations based on Small Satellites. In addition, there is an enormous demand for inexpensive, high-speed internet in developed nations. If all scheduled GEO HTS satellites and LEO constellations are successful, supply could far exceed demand, decreasing the price per megabit. Planet Labs (United States), SpaceX (United States), Orbcomm (United States), and SES S.A (Luxembourg) have all launched satellite constellations into orbit. OneWeb (United Kingdom), Boeing (United States), Telesat (Canada), and Amazon (United States) are all developing nanosatellite constellations.
- Rising Demand for Military Applications: Mission satellite profiles include communication, surveillance, and reconnaissance. Military satellites can provide continuous area coverage and serve as early warning systems. Military satellites can perform strategic and tactical operations in addition to surveillance. The satellites can also verify international compliance with arms limitation treaties and aid in strategic targeting by determining the deployment of military assets at strategic vantage points before a conflict. To satisfy the rising demand, the manufacturers of Small Satellites for the military are focusing on cost-effective methods for mass-producing Small Satellites. Low-cost passive components with industrial ratings are used at the development and design validation stages. Due to the adaptability of various Small Satellites, the implementation of standardized satellite designs has allowed for greater freedom in selecting launch systems. Small Satellites can be accommodated in multiple launch systems, reducing launch expenses.
- Improving Technological Advancements: Technological advances mold the market for Small Satellites. The major players in the market for Small Satellites are concentrating on developing technologies to strengthen their position. For example, in July 2020, Airbus, a European multinational aerospace corporation, developed the Prometheus 1 next-generation software-defined radio payload with cutting-edge technology to provide clients with immense capability. Using disruptive technology, Prometheus 1 is a software-defined radio with a 400 MHz UHF antenna that can be reconfigured in space. It will also be able to detect Faraday-1 satellite radar monitoring and identify and locate search-and-rescue beacons.
The global Small Satellite market can be categorized on the following: Application, Subsystem, End Use, Mass, Frequency, Orbit, and Region. Based on Application, the market can be categorized into Communication, Earth Observation, Education, Technology, and Other Applications. Additionally, based on the Subsystem, the market can be segmented further into Satellite Bus, Payload, Solar Panel, Satellite Antenna, and Other Subsystems. Based on End Use, the market can be categorized into Commercial, Government & Defense, and Dual-use. Based on Mass, the market can also be segmented across Small Satellite and CubeSat. Based on Frequency, the market can be categorized into L-Band, S-Band, X-Band, Ka-Band, O/Y-Band, and Laser/Optical. Additionally, based on Orbit, the market can be segmented across LEO, GEO, MEO, and Other Orbits. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on Application
Navigation to Accommodate Largest Share Due to Rising Integration within Consumer Electronics
During the forecast period, the navigation segment will experience maximum CAGR growth. The expansion is attributable to the increased adoption of communications antennas in the public and private sectors. Satellites provide various communication services, including data transmission, broadcasting, and telecommunications. Satellites are crucial in distributing software for laptops, mobile phones, and personal digital assistants. As a tool for monitoring climate and water, earth observation is anticipated to experience substantial growth. Due to the increased use of GPS for cartography, aircraft navigation, and agricultural assistance, navigation will experience exponential growth.
Based on End Use
Online Retail to Account for Maximum Sales Due to Convenience and Accessibility
In 2022, the commercial sector will have the largest market share due to the increasing number of mobile and internet users. Increased reliance on satellites for enemy surveillance is propelling market expansion. The commercial applications of satellites include navigation, communications, and weather forecasting. Due to the increasing use of satellites for surveillance missions, the military segment will grow substantially. Increased participation of government space agencies in satellite development programs will result in significant growth for the government sector.
Based on Orbit
GEO Satellites to Account for the Maximum Share owing to Attractive Functionality
During the forecast period, the GEO category, known as geostationary satellites, is anticipated to experience the highest growth rate. Because they orbit the Earth along a path parallel to its rotation and at the same angular velocity as the Earth, these satellites are referred to as geostationary because they appear stationary. GEO satellites have numerous applications, including weather forecasting, satellite radio, and satellite television.
Based on Region
North America to Dominate Global Market Due to Growing Space Exploration Activities
North America held the highest market share and maintained its dominance throughout the projected period. Increasing NASA research and development expenditures and expanding military spending on surveillance missions propel the regional market. Adopting SKYWAN technology and a tri-band antenna by NASA enables real-time transmission, the optimal transmission for every application. The CubeSat launch initiative will deploy the 109th CubeSat from the international space station in July 2020.
Due to the advent of the internet and IoT-based services for various applications, the European market for Small Satellites is anticipated to grow healthy over the forecast period. The key variable responsible for the market's growth is manufacturers' efforts to reduce mission expenses. Moreover, it is anticipated that technological advancements in space exploration will enhance the capabilities of smallsat, thereby propelling the market growth. Increasing demand for satellite data services in domains such as satellite-based network infrastructure and information technology-based services due to rising per capita income in the Asia Pacific developing nations such as China, India, and Vietnam is expected to boost the Small Satellite market over the forecast period. India is anticipated to become a global leader in Small Satellite solutions as the Indian Space Research Organization (ISRO) shifts most commercial space-related activities to the industry and emphasizes advanced research.
The primary focus of satellite manufacturers is expanding their business through contracts with space companies and government agencies. In February of 2020, Airbus S.A.S. introduced a new lineup of Earth observation satellites, including the S250 Optical and S250 Radar. In July of 2020, Airbus developed Prometheus, an advanced SoV.
The key players in the global Small Satellite market include - Airbus SAS (France), GOMSPAC (Denmark), L3HARRIS Technologies Inc. (U.S.), Lockheed Martin Corp. (U.S.), Northrop Grumman Corp. (U.S.), Planet Labs Inc. (U.S.), Sierra Nevada Corp. (U.S.), Thales Group (Paris), The Boeing Company (U.S.) among others.
Recent Market Developments
- April 2022: Space Logistics, a division of Northrop Grumman Corporation, has announced an agreement to launch its Mission Robotic Vehicle (MRV) spacecraft and the sale of its first Mission Extension Pod (MEP). SpaceX will provide launch services for the MRV and six MEPs, which are scheduled to launch in the spring of 2024, per the parameters of the agreement.
- April 2022: NASA awarded contracts worth USD 278.5 million to Amazon's satellite venture, SpaceX's Starlink network, and other satellite companies to demonstrate communications in space as the U.S. space agency prepares to supplant its current satellite network in orbit with privately developed systems.
- July 2022: All2Space has signed an exclusive agreement with Vaya Space to launch a satellite constellation. Vaya Space is a hybrid vortex rocket company and an emerging leader in sustainable access to space. CubeSat developer All2Space is launching an aggregator with ties to the Brazilian Space Agency that intends to develop and manage its constellation with a concentration on Latin American operations.
Segmentation of the Global Small Satellite Market
- Application (Communication, Earth Observation, Education, Technology, Other Applications)
- Subsystem (Satellite Bus, Payload, Solar Panel, Satellite Antenna, Other Subsystems)
- End Use (Commercial, Government & Defense, Dual-use)
- Mass (Small Satellite, CubeSat)
- Frequency (L-Band, S-Band, X-Band, Ka-Band, O/Y-Band, Laser/Optical)
- Orbit (LEO, GEO, MEO, Other Orbits)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Airbus SAS (France)
- GOMSPAC (Denmark)
- L3HARRIS Technologies Inc. (U.S.)
- Lockheed Martin Corp. (U.S.)
- Northrop Grumman Corp. (U.S.)
- Planet Labs Inc. (U.S.)
- Sierra Nevada Corp. (U.S.)
- Thales Group (Paris)
- The Boeing Company (U.S.)
||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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