The Worldwide Small Satellite Industry is Expected to Reach $7.4 Billion by 2026

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Mar 08, 2022, 09:45 ET

DUBLIN, March 8, 2022 /PRNewswire/ -- The "Worldwide Small Satellite Industry" report has been added to ResearchAndMarkets.com's offering.

The small satellite market is projected to grow from $3.1 billion in 2021 to $7.4 billion by 2026, at a CAGR of 19.4 %.

Small satellite systems hold a huge potential for small satellite data service providers, small sat service providers, remote sensing service providers, technical service providers, and investors. The market is one of the most lucrative verticals of the space industry. Factors such as versatility, low cost, advanced mechanics, ease of assembly and launch, mass production, and short lifecycles have driven investments in the small satellite market. The amount of satellite data and the range of applications for that data will continue to grow in the future as new technologies develop and more satellites come online.

The small satellite market is dominated by a few globally established players such as Thales Group (France), L3Harris Technologies (US), Honeywell International Inc. (US), Lockheed Martin (US), Northrop Grumman (US), Airbus (Germany), among others. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. COVID-19 has affected the small satellite growth to some extent, and this varies from country to country. Industry experts believe that the pandemic has not affected the demand for small satellite systems in commercial, Government and military sector.

Based on platform, the commercial segment is estimated to lead the small satellite market from 2021 to 2026.

It is projected to grow further due to the increasing need for communications, earth observation, imaging, and agricultural monitoring. Companies such as Pumpkin Space (US) use small satellites for scientific experiments such as testing new technologies like batteries with sleep mode capability (BM-2). BUSEK Space Propulsion and Systems (US) is another company focused on developing new propulsion systems such as the pulsed plasma thruster, green monopropellant thrusters, and electrothermal thrusters. In 2019, OneWeb Satellites, a joint venture between OneWeb and Airbus SE, launched around 34 satellites for the OneWeb constellation from on Baikonur, Kazakhstan.

Based on satellite mass, the small satellite segment is expected to lead the small satellite market from 2021 to 2026.

A small satellite is a type of low mass and compact satellite primarily employed for remote sensing, Earth observation, and communication purposes. These satellites usually weigh less than 500 kg. Small satellites are used for in-orbit inspection purposes of larger satellites. These are also used as test carriers for newly developed components that are to be installed on a much critical satellite. However, small satellites are prone to operational challenges that include lack of power storage and propulsion system, owing to their small dimensions. In January 2022, satellite communications provider, Starlink launched a part of constellation of small satellites in low-Earth orbit.

Based on region, North America is expected to lead the small satellite market from 2021 to 2026.

The US is a lucrative market for small satellite systems in the North American region. The US government is increasingly investing in advanced small satellite technologies to enhance the quality and effectiveness of satellite communication. The increasing investment on small satellite equipment to enhance defense and surveillance capabilities of the armed forces, modernization of existing communication in military platforms, critical infrastructure and law enforcement agencies using small satellite systems, are key factors expected to drive the small satellite market in North America. In 2021, Swarm Technologies launched 28, 0.25U CubeSat SpaceBEE. The CubeSat is the world's smallest two-way communications satellites for IoT.

Prominent players from this region include L3Harris Technologies (US), Honeywell International Inc. (US), Lockheed Martin (US), Northrop Grumman (US) and others.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Small Satellite Market
4.2 Small Satellite Market, by Application
4.3 Small Satellite Market, by Orbit
4.4 Small Satellite Market, by Mass
4.5 Small Satellite Market, by Frequency
4.6 Small Satellite Market, by End-Use
4.7 Small Satellite Market, by Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Leo-Based Small Satellites
5.2.1.2 Rising Demand for Earth Observation Imagery and Analytics
5.2.1.3 Software-Defined Payloads for Communication Satellites
5.2.1.4 Increase in Number of Space Exploration Missions
5.2.1.5 Economical Than Conventional Satellites
5.2.2 Restraints
5.2.2.1 Government Policies
5.2.2.2 Lack of Dedicated Small Satellite Launch Vehicles
5.2.3 Opportunities
5.2.3.1 Use of Software-Defined Technology for Flexibility to Alter Space Missions
5.2.3.2 Development of Satellite Network to Provide Internet Access in Areas Without Broadband Connectivity
5.2.3.3 Increased Government Investments in Space Agencies
5.2.3.4 Increased Use of Small Satellites in Various Applications
5.2.4 Challenges
5.2.4.1 Concern Over Space Debris
5.2.4.2 Complex Propulsion Systems
5.2.4.3 Telemetry, Tracking, and Command Issues
5.2.4.4 Raising Capital and Funding for Satellite Manufacturing and Launch
5.2.4.5 Qualitative Limitation of Small Satellites
5.3 COVID-19 Impact on Small Satellite Market
5.4 Range/Scenarios
5.5 Value Chain Analysis of Small Satellite Market
5.6 Trends/Disruptions Impacting Customer Business
5.6.1 Revenue Shift and New Revenue Pockets for Small Satellite System Manufacturers
5.7 Small Satellite Market Ecosystem
5.7.1 Prominent Companies
5.7.2 Private and Small Enterprises
5.7.3 Ecosystem
5.8 Porter's Five Forces Analysis
5.8.1 Threat of New Entrants
5.8.2 Threat of Substitutes
5.8.3 Bargaining Power of Suppliers
5.8.4 Bargaining Power of Buyers
5.8.5 Intensity of Competitive Rivalry
5.9 Tariff and Regulatory Landscape
5.10 Trade Analysis
5.11 Operational Data

6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Evolution of Nanosatellites and Microsatellites
6.2.2 Development of Small Satellite Constellations to Enhance Communication
6.2.3 3D Printing of Satellite Equipment
6.2.4 Miniaturization in Space Technology
6.2.5 Use of Small Satellites to Provide Enhanced Space Imagery
6.2.6 Development of Dedicated Launch Vehicles for Small Satellites
6.2.7 Distributed Electric Power System (Eps) in Small Satellite Applications
6.2.8 Hyperspectral and Multi-Spectral Imaging
6.2.9 Energy Storage (Primary & Secondary Batteries)
6.2.10 Development of Cubesat Constellations to Enhance Communication
6.3 Use Cases
6.3.1 Use Case: Cubesats for Interplanetary Missions
6.3.2 Use Case: Small Satellites for IoT and Communications
6.3.3 Use Case: Space-Based Global Wireless Monitoring Systems
6.3.4 Measurements of Magnetic and Electric Fields on Earth's Ionosphere
6.3.5 Use Case: Real-Time Data to Emergency System
6.3.6 Use Case: Satellite Radiation Hardness Test
6.4 Impact of Megatrends
6.4.1 Hybrid Beamforming Methods
6.4.2 Development of New-Generation Cubesat for Lunar Exploration
6.4.3 Cognitive Radio (Sdr-Cr) Technology
6.4.4 Shift in Global Economic Power
6.4.5 Patent Analysis

7 Small Satellite Market, by Mass
7.1 Introduction
7.2 Small Satellite
7.2.1 Minisatellite (100-500 Kg)
7.2.1.1 Widely Used for Earth Observation and Broadband Internet
7.2.2 Microsatellite (10-100 Kg)
7.2.2.1 Microsatellites are Capable of Functioning as Effective Tactical Communication Devices for Military Applications
7.2.3 Nanosatellite (1-10 Kg)
7.2.3.1 Nanosatellites are Used for a Variety of Commercial Applications
7.3 Cubesat
7.3.1 Cubesat (0.25-5 U)
7.3.2 1U
7.3.2.1 Key Focus on Developing 0.25U - 1U Cubesats for Communication
7.3.3 2U
7.3.3.1 2U Cubesats are Used for Testing Emerging Technologies
7.3.4 3U
7.3.4.1 3U Cubesats are Used for Earth Observation and Traffic Monitoring
7.3.5 6U
7.3.5.1 Increasing Demand for 6U Cubesats for Space Science Missions Drive this Segment
7.3.6 >12U
7.3.6.1 12U Cubesats are Used in Deep Space Missions and Research

8 Small Satellite Market, by Subsystem

9 Small Satellite Market, by End-Use

10 Small Satellite Market, by Application

11 Small Satellite Market, by Frequency

12 Small Satellite Market, by Orbit

13 Regional Analysis

14 Competitive Landscape
14.1 Introduction
14.2 Company Overview
14.3 Ranking Analysis of Key Players in Small Satellite Market
14.4 Market Share of Key Players, 2020
14.5 Market Ranking Analysis of Key Players, 2020
14.6 Company Product Footprint Analysis
14.7 Competitive Evaluation Quadrant
14.7.1 Star
14.7.2 Emerging Leader
14.7.3 Pervasive
14.7.4 Participant
14.8 Startup/Sme Evaluation Quadrant
14.8.1 Progressive Company
14.8.2 Responsive Company
14.8.3 Starting Block
14.8.4 Dynamic Company
14.9 Competitive Scenario
14.9.1 Market Evaluation Framework
14.9.2 New Product Launched and Development
14.9.3 Contracts, Partnerships, and Agreements
14.9.4 Collaborations and Expansions

15 Company Profiles
15.1 Introduction
15.2 Key Players
15.2.1 Lockheed Martin Corporation
15.2.2 Sierra Nevada Corporation
15.2.3 L3Harris Technologies Inc.
15.2.4 Northrop Grumman Corporation
15.2.5 Airbus Defense & Space
15.2.6 Surrey Satellite Technology Ltd (Sstl)
15.2.7 Thales Group
15.2.8 Gomspace
15.2.9 Planet Labs Inc
15.2.10 Raytheon Technologies Corporation
15.2.11 Ohb Se
15.2.12 Maxar Technologies
15.2.13 Space Exploration Technologies Corp. (Spacex)
15.2.14 The Aerospace Corporation
15.2.15 Mitsubishi Electric Corporation
15.2.16 Exolaunch GmbH
15.2.17 Pumpkin Inc.
15.2.18 Ball Aerospace & Technologies
15.2.19 Dauria Aerospace Ltd.
15.2.20 Aac Clyde Space
15.2.21 Millennium Space System, Inc
15.3 Startups/Smes
15.3.1 Endurosat
15.3.2 Swarm Technologies
15.3.3 Nanoavionics
15.3.4 Alen Space
15.3.5 Nearspace Launch, Inc.
15.3.6 Spire Global, Inc.
15.3.7 Earth-I, Inc.
15.3.8 Terran Orbital
15.3.9 Alba Orbital
15.3.10 Satellogic

16 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/wxvos3

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