Small Satellite Market By Type (Mini, Micro, Nano), By Application (Earth Observation, Satellite Communication, Technology Development, Science & Exploration, Surveillance & Security), By End-Use (Civil, Commercial, Defense) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

New Private Entrants in Space Industry and Strong Backing from Government for Space Commercialization to grow Small Satellite Market

Advancements in space and technological fields have propelled satellite manufacturing companies to develop more compact and efficient satellites. With the growing application of small satellites in earth observation, IoT and remote sensing or communication have disrupted the space economy for the better. With a number of connected devices expected to cross the 22 Bn mark in coming years, space-based IoT is one of the promising business segments offered by small satellites.

Moreover, new initiatives from global universities & countries and the emergence of entrepreneurs who realized the market potential of smallsats further drove the global small satellite market in 2018. In addition, strong backing from investors like SoftBank, Virgin Group, Qualcomm, AirBus, and Bharti Group, who are trusting in the potential of small satellite business offers in the near future, is expected to influence the market in the near future further.

Technological advancement of flat panel antennas (FPA), which promises simpler, more reliable multi-satellite solutions with enhanced mobility and connectivity, is a breakthrough for companies operating in the telecom segment. Besides, the pay-per-use business model of satellite-as-a-service, along with fast growth in cloud and deep learning algorithms for improved downlink data transmission efficiency, will further grow the market during the forecast period.

Market Snapshot

Satellite-aided Broadband Connectivity to Ensure Dominance of Satellite Communication in Application Segment

Based on application, earth observation small satellites captured over 40% of the share in 2018. However, the announcement of a satellite constellation in lower earth orbit (LEO) for global data and internet connectivity which are targeting businesses in IoT and communication, is expected to register the highest CAGR during the forecast period. Furthermore, projects such as Starlink, Kuiper, and Eutelsat's ELO IoT network are further expected to drive the market in the coming decade.

The Asia Pacific is expected to register the highest Market Share.

Currently, Asia Pacific is trailing behind North America and Europe. However, the small satellite market in the region has high potential. The market is majorly driven by China, Japan, and India. Nearly half of the demand for small satellites is from government missions for civilian use. The other half of the market share is commercial use for earth observation and satellite communication. With the entry of major players in the market, such as ISRO and JAXA, and with space ambitions of emerging economies of Asia Pacific, the region is expected to be leading during the forecast period. Moreover, Asian universities such as NTU Singapore are partnering with Japan’s Kyutech to build and launch their small satellites into orbit. Also, India’s StudSat and China’s BNU-1, built by respective national universities, have further increased the aspiration of Asia Pacific to grab the major share of the small satellite market.

New Technological Development is Keeping the Market Competitive

Major players profiled in the small satellite market include Space Exploration Technologies Corp., ISRO, Blue Origin, Boeing, OneWeb, AirBus S.A.S., Sierra Nevada Corporation, Planet Labs Inc., Lockheed Martin Corporation, Arianespace, and Thales Group. These companies are adopting strategies such as acquiring small players in the market and new technology in launching. For instance, in August 2018, Boeing announced the acquisition of Millennium Space Systems, a provider of small satellite solutions. With this acquisition, Boeing has increased its capability with its portfolio and provided the customer with advanced small satellite technologies. Furthermore, in March 2019, Lockheed Martin Corporation announced its new technology for launching small satellites, which will allow small satellites to change their mission in orbit. Named “SmartSat,” this software-defined satellite architecture will provide resiliency and flexibility per mission needs and technology with higher processing power in space.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

Small satellite market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global small satellite market based on type, application, end-user, and geography. 

Frequently Asked Questions:

The market for Small Satellite is expected to reach US$ XX Bn by 2027.

The Small Satellite market is expected to see significant CAGR growth over the coming years, at 18.20%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Space Exploration Technologies Corp., ISRO, Blue Origin, Boeing, OneWeb Satellite, Sierra Nevada Corporation are some of the major players in the global market.

Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Published Date:  Nov 2019
Category:  Technology & Media
Report ID:   60021
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
24/7 Research Support