Small Satellite Market to Hit USD 12.25 BN by 2030, with 19.60% CAGR from 2023 to 2030
Research Reports
Nov 23, 2023
Small Satellite Market Overview
The Small Satellite Market is likely to witness significant revenue growth. The increasing demand for small satellites for expanded capacity is a key market driver. According to Market Research Future (MRFR), the global small satellite market value is estimated to escalate from USD 3.5 BN in 2022 to USD 12.25 BN by 2030, growing at a 19.60% CAGR throughout the forecast period (2023-2030).
Small satellites help space research organizations expand access to space, advancing scientific & human exploration and reducing the cost of new space missions. Small satellites enable a wide range of activities in space with the potential for exponential advances in transformative science. The rising demand for geostationary-satellite orbit (GSO) and low earth orbit (LEO) systems accelerates the small satellite market shares.
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Small Satellite Market – Segments
The report is segmented into payloads, launch platforms, launch vehicle sizes, end-users, and regions. The payload segment is sub-segmented into LEO, MEO, GEO, and beyond GEO. The launch platform segment is sub-segmented into land, air, and sea. The launch vehicle size segment is sub-segmented into small-lift and medium-to-heavy-lift launch vehicles.
The end user segment is sub-segmented into commercial, satellite service providers, private companies, military & government, defense organizations and space agencies. By region, the small satellite market is segmented into North America, Asia-Pacific, Europe, MEA, and the rest of the world.
Small Satellite Market – Regional Analysis
North America leads the global small satellite market. Rising R&D initiatives in NASA and large military spending on surveillance missions drive the small satellite market growth. Besides, the growing use of SKYWAN technology and tri-band antennas by NASA for real-time transmission substantiates the small satellite market revenues.
Also, the presence of global players and the growing space industry boosts the small satellite market size. The US and Canada hold the leading position in the regional market. The North American small satellite market will dominate the global market throughout the estimated period.
Global Small Satellite Market – Competitive Analysis
The highly competitive, small satellite market appears fragmented due to numerous well-established players. Innovation, mergers & acquisitions, and brand reinforcement are the key trends for these players. The market will witness intensified competition with increased R&D innovations and M&A. Technology providers offer a broad range of solutions that are purpose-built for commercial viewing to address the increasing market demand.
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Major Players
Leading small satellite market players include Indian Space Research Organization (ISRO – India), Mitsubishi Heavy Industries Ltd. (Japan), Space Exploration Technologies Corporation (US), Blue Origin (US), Eurockot Launch Services GmbH (Germany), Kelly Space & Technology Inc(US), Bristol Airspace (UK), and Virgin Orbit (US), among others.
Industry/ Innovation/ Related News:
Sep. 05, 2023 — Lockheed Martin announced the deployment of 10 small satellites for the SDA Mission. These satellites are equipped with Lockheed Martin’s software platform, SmartSat, incorporating a Terran Orbital bus and payload processors. This demonstrates low-latency communication and provides a resilient network of integrated capabilities.
These Lockheed Martin-built satellites have successfully been deployed into low-Earth orbit (LEO) to support the Tranche 0 Transport Layer (T0TL) mission of the Space Development Agency (SDA).
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