Small Satellite Market by Satellite Mass, Application, Subsystem, Orbit, End-user, Frequency and Region – Global Forecast to 2026 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Small Satellite Market by Satellite Mass (Small satellite, CubeSat), Application (Communication, Earth Observation & Remote Sensing, Scientific, Technology), Subsystem, Orbit, End User, Frequency and Region – Forecast to 2026” 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 %.
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.
Market Dynamics
Drivers
- Increasing Demand for Leo-Based Small Satellites
- Rising Demand for Earth Observation Imagery and Analytics
- Software-Defined Payloads for Communication Satellites
- Increase in Number of Space Exploration Missions
- Economical Than Conventional Satellites
Restraints
- Government Policies
- Lack of Dedicated Small Satellite Launch Vehicles
Opportunities
- Use of Software-Defined Technology for Flexibility to Alter Space Missions
- Development of Satellite Network to Provide Internet Access in Areas Without Broadband Connectivity
- Increased Government Investments in Space Agencies
- Increased Use of Small Satellites in Various Applications
Challenges
- Concern Over Space Debris
- Complex Propulsion Systems
- Telemetry, Tracking, and Command Issues
- Raising Capital and Funding for Satellite Manufacturing and Launch
- Qualitative Limitation of Small Satellites
Companies Mentioned
- Lockheed Martin Corporation
- Sierra Nevada Corporation
- L3Harris Technologies Inc.
- Northrop Grumman Corporation
- Airbus Defense & Space
- Surrey Satellite Technology Ltd (Sstl)
- Thales Group
- Gomspace
- Planet Labs Inc
- Raytheon Technologies Corporation
- Ohb Se
- Maxar Technologies
- Space Exploration Technologies Corp. (Spacex)
- The Aerospace Corporation
- Mitsubishi Electric Corporation
- Exolaunch GmbH
- Pumpkin Inc.
- Ball Aerospace & Technologies
- Dauria Aerospace Ltd.
- Aac Clyde Space
- Millennium Space System, Inc
- Endurosat
- Swarm Technologies
- Nanoavionics
- Alen Space
- Nearspace Launch, Inc.
- Spire Global, Inc.
- Earth-I, Inc.
- Terran Orbital
- Alba Orbital
- Satellogic
For more information about this report visit https://www.researchandmarkets.com/r/vcjavw
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