Market Highlights:
The Small Satellites Market is anticipated to reach USD 12.4 Billion by 2030 at 19.60% CAGR during the forecast period 2022-2030. Small satellites, also referred to as miniaturized satellites, have low mass, generally weighing less than 1,100 lb, and help space agencies improve the accessibility of space by reducing the cost of satellite launch. The low development and launch costs, and improved performance, have led to increase in demand for the development of small satellites. Other factors driving the growth of the global small satellite market are surge in commercial applications, growing demand for miniaturization of satellites, and high focus on the reduction of production costs.
The increased use of 3D printing and high data rate communication will enable the manufacturers to offer new growth opportunities for the market players. Numerous new satellites have to be launched to meet the growing demand for commercial applications. However, there are some shortcomings such as lack of dedicated launch vehicles and design related constraints which will restrain the growth of this Small Satellites Market.
On the basis of region, the Small Satellites Market Research is segmented into America, Asia Pacific, Europe, and Rest of the World. In the North America region, there is an increased demand for small satellites from NASA, the Department of Defense, and the private sectors. For instance, Boeing has received its first commercial order for the 502 Phoenix small satellite from HySpecIQ of Washington, D.C. These satellites will carry the commercial remote sensing industry’s first high-resolution hyper spectral payload, capable of providing high-fidelity spectral imaging. In the European region, there is high demand for small satellite, due to their use in battlefield missions, earth observation, and scientific exploration activities performed by diverse sectors.
Key Players
The key players in Global Small Satellite Market are Airbus (France), Boeing (U.S.), Geooptics Inc.(U.S.), OHB Systems AG (Germany), OneWeb (U.S.), Lockheed Martin (U.S.), Northrop Grumman Corporation (U.S.), Planet Labs Inc.(U.S.), Sierra Nevada Corporation (U.S.), Spire Global Inc. (U.S.).
The scope of the Report
This study provides an overview of the Global Small Satellite Market, tracking four market segments across four geographic regions. The report studies key players, providing a 5-year annual trend analysis that highlights market size, volume, and share for America, Europe, Asia Pacific, Middle East and Africa South America. The report also provides a forecast, focusing on the market opportunities for the next 5 years for each region. The scope of the study segments the Global Small Satellite Market Report by its type, purpose, end user and region.
By Type
Mini-satellite
Micro-satellite
Nano-satellite
By Purpose
Earth Observation Meteorology
Scientific Research Exploration
Communication
Surveillance Security
Mapping Navigation
By End User
Commercial
Military
Civil/ Government
By Region
America
Europe
Asia Pacific
Middle East Africa
South America
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