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It is estimated that by 2022 the small satellite market would be worth $3.7 billion. Over the forecast period (2023-2030), the small satellite market is expected to increase in value from $4.8 billion in 2023 to $12.29 billion in 2030, representing a CAGR (compound annual growth rate) of 20.60%. Key market drivers boosting market expansion include increasing demand for small satellites in low earth orbit (LEO) as a result of their increased capacity and increasing integration of the Internet of Things (loT) into the manufacturing sector.
Small satellites are a low-cost option that has opened up low-Earth orbit to business enterprises, non-profit organisations, and educational institutions. Due to the inexpensive cost, quick turnaround time, and relative ease of using these small satellites, a wide range of scientific inquiries and technical demonstrations can be carried out in orbit. When dealing with smaller and lighter satellites, cheaper and more numerous launches are achievable. They can also be deployed 'piggyback' on larger launch vehicles to make use of the extra space provided by those vehicles. As a result of miniaturisation, satellites may be made more cheaply in large quantities.
During the projected period, the global small satellite market is anticipated to expand due to rising technical innovation, decreasing launch costs, and the advancement of automation technologies. Thanks to technical advancements, small satellites present entirely new designs for a plethora of space operations, with the potential for exponential jumps in transformative research. In January of 2021, for instance, SpaceX launched 143 tiny satellites from Cape Canaveral aboard a Falcon 9 rocket. More people can afford to use small satellites now that the price of launch services has dropped because to advancements in reusable rocket technology.
Market growth is being fueled by the increasing use of tiny satellites in conjunction with the Internet of Things (loT). For the Internet of Things (loT) to work, devices need to be online. Terrestrial GSM, Wi-Fi, and Bluetooth networks are able to support a wide variety of loT applications. However, they are limited in comparison to satellites in terms of coverage. According to studies, satellite technology is a critical facilitator in the globalisation of loT connectivity. Transportation, mining, consumer, and oil & gas applications are among them. During the manufacturing process, satellite connectivity is used by loT devices to send and exchange data between components and loT systems. Therefore, process automation in the industrial sector cannot progress without satellite communication. The major advantage of loT is that its devices consume less power than conventional ones. LoT provides secure, high-availability data services and quick loT deployments for enterprise users. Business applications that use loT's connectivity for satellite-based machine control and manufacturing are expected to grow. as a result, boosting sales in the tiny satellite industry.
CubeSat-compliant small satellites are extremely cost-effective. Because of this, small satellites have become increasingly popular since their introduction, as they help remove barriers to entering and exploring space. It's also possible to construct and launch a small satellite into orbit for far less money than is often spent on larger, more conventional satellite operations, depending on the specifics of the mission. The fundamental benefit of small satellites is the short time it takes to create them, in addition to the advantages of lower weight and size. A CubeSat can determine a need and launch itself into orbit in under 8 months, while a large or traditional satellite can take anywhere from 5 to 15 years to design and deploy in orbit. More affordable than larger satellites, microsatellites and nanosatellites are used in a variety of fields including communication, commerce, and space exploration. Demand for these satellites has skyrocketed in recent years because of their many desirable qualities, including low mass, rapid construction times, high computer power, low cost, and low launch prices. To make around four times as many small satellites, York Space Systems, for example, stated in May 2021 that it will construct a huge manufacturing plant in Denver. York's current production unit can only create 20 satellites at a time, but once the new manufacturing facility is up and running, that number will increase to 80.
LEO, MEO, GEO, and Beyond GEO are the several submarkets of the small satellite market based on payload. The prognosis calls for the GEO category, often known as geostationary satellites, to increase at the quickest rate. These satellites are called geostationary because they appear to be permanently positioned above the Earth because they orbit the planet in a plane perpendicular to its rotation and at the same angular velocity as the planet. GEO satellites have several applications, including weather forecasting, satellite radio, and satellite television. Markets for small satellites can be broken down into three distinct subsets: those that launch from land, air, and sea. The air sector has the largest share of the space launch services market because of its versatility and the ability to launch from a wide range of locations, even faraway ones. In addition, some payloads benefit from the increased trajectory control that air launch technologies offer.
Report Coverage
Global Small Satellite research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Small Satellite report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Small Satellite competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Small Satellite market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Small Satellite market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Small Satellite market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Mitsubishi Heavy Industries Ltd (Japan), Blue Origin (US), Indian Space Research Organization (India), Space Exploration Technologies Corporation (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), Kelly Space & Technology Inc(US), Virgin Orbit (US).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Small Satellite market based on the below-mentioned segments:
Global Small Satellite Market, By Payload
LEO
MEO
GEO
Beyond GEO
Global Small Satellite market, By Launch Platform
Land
Air
Sea
Global Small Satellite Market, By End User
Commercial
Satellite Service Providers
Private Companies
Military & Government
Defense Organizations
Space Agencies
Global Small Satellite market, Regional Analysis
Small satellites are a low-cost option that has opened up low-Earth orbit to business enterprises, non-profit organisations, and educational institutions. Due to the inexpensive cost, quick turnaround time, and relative ease of using these small satellites, a wide range of scientific inquiries and technical demonstrations can be carried out in orbit. When dealing with smaller and lighter satellites, cheaper and more numerous launches are achievable. They can also be deployed 'piggyback' on larger launch vehicles to make use of the extra space provided by those vehicles. As a result of miniaturisation, satellites may be made more cheaply in large quantities.
During the projected period, the global small satellite market is anticipated to expand due to rising technical innovation, decreasing launch costs, and the advancement of automation technologies. Thanks to technical advancements, small satellites present entirely new designs for a plethora of space operations, with the potential for exponential jumps in transformative research. In January of 2021, for instance, SpaceX launched 143 tiny satellites from Cape Canaveral aboard a Falcon 9 rocket. More people can afford to use small satellites now that the price of launch services has dropped because to advancements in reusable rocket technology.
Market growth is being fueled by the increasing use of tiny satellites in conjunction with the Internet of Things (loT). For the Internet of Things (loT) to work, devices need to be online. Terrestrial GSM, Wi-Fi, and Bluetooth networks are able to support a wide variety of loT applications. However, they are limited in comparison to satellites in terms of coverage. According to studies, satellite technology is a critical facilitator in the globalisation of loT connectivity. Transportation, mining, consumer, and oil & gas applications are among them. During the manufacturing process, satellite connectivity is used by loT devices to send and exchange data between components and loT systems. Therefore, process automation in the industrial sector cannot progress without satellite communication. The major advantage of loT is that its devices consume less power than conventional ones. LoT provides secure, high-availability data services and quick loT deployments for enterprise users. Business applications that use loT's connectivity for satellite-based machine control and manufacturing are expected to grow. as a result, boosting sales in the tiny satellite industry.
CubeSat-compliant small satellites are extremely cost-effective. Because of this, small satellites have become increasingly popular since their introduction, as they help remove barriers to entering and exploring space. It's also possible to construct and launch a small satellite into orbit for far less money than is often spent on larger, more conventional satellite operations, depending on the specifics of the mission. The fundamental benefit of small satellites is the short time it takes to create them, in addition to the advantages of lower weight and size. A CubeSat can determine a need and launch itself into orbit in under 8 months, while a large or traditional satellite can take anywhere from 5 to 15 years to design and deploy in orbit. More affordable than larger satellites, microsatellites and nanosatellites are used in a variety of fields including communication, commerce, and space exploration. Demand for these satellites has skyrocketed in recent years because of their many desirable qualities, including low mass, rapid construction times, high computer power, low cost, and low launch prices. To make around four times as many small satellites, York Space Systems, for example, stated in May 2021 that it will construct a huge manufacturing plant in Denver. York's current production unit can only create 20 satellites at a time, but once the new manufacturing facility is up and running, that number will increase to 80.
LEO, MEO, GEO, and Beyond GEO are the several submarkets of the small satellite market based on payload. The prognosis calls for the GEO category, often known as geostationary satellites, to increase at the quickest rate. These satellites are called geostationary because they appear to be permanently positioned above the Earth because they orbit the planet in a plane perpendicular to its rotation and at the same angular velocity as the planet. GEO satellites have several applications, including weather forecasting, satellite radio, and satellite television. Markets for small satellites can be broken down into three distinct subsets: those that launch from land, air, and sea. The air sector has the largest share of the space launch services market because of its versatility and the ability to launch from a wide range of locations, even faraway ones. In addition, some payloads benefit from the increased trajectory control that air launch technologies offer.
Report Coverage
Global Small Satellite research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Small Satellite report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Small Satellite competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Small Satellite market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Mitsubishi Heavy Industries Ltd (Japan), Blue Origin (US), Indian Space Research Organization (India), Space Exploration Technologies Corporation (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), Kelly Space & Technology Inc(US), Virgin Orbit (US). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Small Satellite Market from 2021 to 2030.
- Market Forecast for Small Satellite Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Small Satellite competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Small Satellite
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Small Satellite market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Small Satellite market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Mitsubishi Heavy Industries Ltd (Japan), Blue Origin (US), Indian Space Research Organization (India), Space Exploration Technologies Corporation (US), Eurockot Launch Services GmbH (Germany), Bristol Airspace (UK), Kelly Space & Technology Inc(US), Virgin Orbit (US).
Primary Target Market
- Market Players of Small Satellite
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Small Satellite market based on the below-mentioned segments:
Global Small Satellite Market, By Payload
LEO
MEO
GEO
Beyond GEO
Global Small Satellite market, By Launch Platform
Land
Air
Sea
Global Small Satellite Market, By End User
Commercial
Satellite Service Providers
Private Companies
Military & Government
Defense Organizations
Space Agencies
Global Small Satellite market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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