Enjoy complimentary customisation on priority with our Enterprise License!
The small satellite market size is estimated to increase by USD 3,734.88 million, at a CAGR of 16.78% between 2022 and 2027. The growth of the market depends on several factors, including the low-cost solution deployment through micro- and nanosatellites, the growing use of these satellites in commercial applications, and the rising production and launch of such satellites to revolutionize the space industry. Small satellites are miniature spacecraft with a mass typically ranging from a few grams to a few hundred kilograms. These satellites are designed to reduce the financial cost of launch vehicles and construction costs. They are easy to mass produce and can be built for less money. Their main job is to gather scientific data and radio relays. All sizes of businesses can use these satellites, and they are priced appropriately. Small spacecrafts can be mass-produced and sold for less money than larger satellites because their development cycles are shorter. These satellites can circle the earth in greater numbers because of their small size and ease of deployment into orbit.
This report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The low-cost solution deployment through micro- and nanosatellites is driving growth in the market. The low development and launch costs of micro and nano satellites compared to traditional big satellites are one of the most important advantages. Therefore, a constellation of such satellites can be used to provide low-cost solutions, which would otherwise cost a significant amount. Compared to traditional satellites, the costs of building a micro or nanosatellite are relatively low. But the cost of launching a satellite will make up much of this expenditure. The emergence of low-cost launch services for micro- and nanosatellites has further helped lower the launch cost as well.
Moreover, the development and manufacture of each satellite involve a unique set of limitations since each satellite has to withstand exposure to the extreme environment prevailing in space as well as launch events. Research and development to develop cost-effective launch systems is being undertaken by several companies that offer satellite launching services. A substantial reduction in the cost of launching is made possible by the peculiar structure and characteristics of the Electron, e.g. an innovative propulsion cycle. Thus, low-cost solution deployment through micro- and nanosatellites is one of the major drivers, which will drive the growth of the market in focus during the forecast period.
The growing use of 3D printing in small satellites is a primary trend in the market. For users to create objects by additive manufacturing and reduce their waste, 3D printing is an evolving method of production. 3D printing surpasses conventional methods such as mold manufacturing, computerized numerical control cutting, or canvas printing. The ability to print electronics directly onto 3D surfaces and reduce satellite system size and weight can also be achieved through 3D printing. 3D printing enables cost-efficient and just-in-time manufacturing of satellite parts along with the provision of carrying out quick design and rapid changes of internal features in the satellite, unlike traditional manufacturing methods.
However, with the help of 3D printing, researchers or manufacturers can completely automate the satellite production process, which reduces the satellite manufacturing duration. After the successful launch of the 3D CubeSat satellites, researchers continue to move forward with the development of spacecraft and other satellites by 3D printing, which will help the low-cost satellite industry to standardize production specifications and reduce manufacturing costs and design times. Thus, the growing use of 3D printing is one of the emerging trends, which is expected to drive the growth of the market focus during the forecast period.
The satellite orbital debris problem is a major challenge in the market. Space debris incorporates natural (meteoroid) and artificial (manmade) fragments, the difference between them being their respective orbits. Since it was found that meteoroids were traveling in the orbit of the sun, there has been a scattering of artificial material throughout Earth's orbit. Artificial debris, such as not functioning spacecraft, abandoned stages of a launch vehicle, mission-related debris, and fragmentation debris, may exist. There is a high chance that a satellite may hit debris upon launch and hence, destroy itself. This poses a grave threat to the space shuttle, the International Space Station, and the many satellites in Earth's orbit. Cases have been reported where space shuttle window replacements were made because of a collision with material that turned out to be paint particles.
In recent years, a large number of small and low-cost satellites have been placed in lower and higher orbit in space. Smaller satellites are placed at high altitudes, and there is a significant reduction in the atmospheric drag that forces them to lower altitudes which ultimately results in their disintegration. This is where they possess a concern for other low-cost and small satellites resulting in crashes. To take care of any possible collision threats, NASA has put in place certain guidelines. The lifecycle of satellites may be shortened by unexpected satellite collision with stray and drifting debris, which can result in an inability to operate before the end of a standard service life. Such incidents also increase the amount of debris in space, which will become a major challenge for the growth of the market in focus during the forecast period.
The market share growth by the earth observation and remote sensing segment will be significant during the forecast period. Earth observation and remote sensing are key applications driving the utilization within the global market. The ability to observe and monitor the Earth's surface, atmosphere, or resources has been transformed by smaller satellites with state of art imaging sensors, MultiScalable & Hyperspectral Camera Systems as well as Remote Sensing Instruments. One of the primary advantages of small satellites in earth observation and remote sensing is their ability to provide high-resolution imaging capabilities.
Get a glance at the market contribution of various segments View Free PDF Sample
The earth observation and remote sensing segments showed a gradual increase in the market share of USD 664.07 million in 2017 and continued to grow by 2021. It is possible to capture images at a range of wavelengths, e.g. spectrums for the visual, IR, and Thermopane bands, through such satellites equipped with multispectral or hyperspectral cameras. This spectral information enables the identification and analysis of different materials, vegetation types, and atmospheric properties. It contributes to studies of climate change, ecosystem monitoring, agricultural assessment, and water resource management. The SAR is capable of penetrating cloud cover during daytime and night, as well as capturing images that can be taken without the need for sunlight. The growing use of small satellites in earth observation and remote sensing will drive the growth of this segment in the market in focus during the forecast period.
Based on type, the market has been segmented into minisatellite, nanosatellite, and microsatellite. The minisatellite segment will account for the largest share of this segment. Minisatellites are small satellites with a mass typically ranging from 100 kg to 500 kg. Compared to nanosatellites and microsatellites, they provide a greater number of cargo capacities and advanced capabilities. They're capable of carrying more sophisticated instruments and sensors that enable them to have greater resolution imaging as well as collect more complex data. They play an important role in monitoring climate change, the management of resources, disaster response, and other studies concerning the environment. Minisatellites are also deployed for surveillance, navigation, and providing real-time data for various industries, such as agriculture, logistics, and urban planning. In recent years, advancements in miniaturization and cost-effective manufacturing techniques have propelled the development and deployment of minisatellites. This has led to a growing number of commercial and government entities investing in minisatellite missions, driving innovation and further driving the growth of the global market.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market growth and trends and drivers that shape the market during the forecast period.
North America dominates the global market, with the US, Canada, and Mexico being the region's major markets for space-based programs. One of the key drivers of the market in North America is the presence of major aerospace and technology companies that are actively involved in their development and deployment. The US has a robust industry ecosystem. A crucial role in promoting the development and deployment of microsatellites is played by government initiatives, such as NASA's CubeSat launch initiative and US Air Force's Small Satellite Programme. A wide range of applications, including Earth observation, communication, science research, technology demonstration, and defense and safety, are driving the market for microsatellites in North America. They are used for monitoring environmental changes, collecting high-resolution imagery, providing global communication services, conducting space-based research, and supporting military operations.
The Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Airbus SE - The company offers small satellites such as S250 optical EO satellite.
Ball Corp. - The company offers small satellites such as BCP small satellites.
Capella Space Corp. - The company offers small satellites such as Capella Constellation synthetic aperture radar satellites.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative market analysis and report of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The small satellite market is propelled by advancements in launch vehicle technology, fostering competition among small satellite launch providers. This market caters to various sectors, including earth observation, weather forecasting, and communications services, addressing needs such as crop monitoring, environmental surveillance, and disaster management. With the growing demand for LEO-based small satellites, applications extend to defense, military, and commercial enterprises, along with government agencies. Despite challenges like regulatory compliance and integration complexities, innovations in propulsion systems, digital logic, and software-defined payloads enhance satellite capabilities. Emerging technologies like electric propulsion and laser communications crosslinks further bolster market growth and technical readiness.
The market report forecasts market growth and forecasting by revenue at global, regional & country levels and provides an analysis of the latest market trends and analysis and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.78% |
Market growth 2023-2027 |
USD 3,734.88 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
16.68 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Japan, Russia, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airbus SE, Ball Corp., Capella Space Corp., Firefly Aerospace Inc., GomSpace Group AB, L3Harris Technologies Inc., Lockheed Martin Corp., Maxar Technologies Inc., Mitsubishi Electric Corp., Northrop Grumman Corp., OHB SE, Planet Labs PBC, Raytheon Technologies Corp., Saturn Satellite Networks Inc., Sierra Nevada Corp., Space Exploration Technologies Corp., Spire Global Inc., Terran Orbital Corp., Thales Group, and The Boeing Co. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.