Small Satellite Market 2022 report shows growth prospects, future trends, global share and size forecast by regions, and industry revenue analysis till 2028

The Small Satellite market is expected to reach US$ 11,778.83 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2022 to 2028.

A small satellite can also be effective for remote management. Sensors can help control all devices, receive real-time information, and send commands for configurations remotely across the world. Satellite communications support land-based communications in Amazon basin, Antarctica, offshore platforms, critical infrastructure such as nuclear power plants and other hard-to-reach areas. Also, small satellites guarantee communication in any circumstances in virtually uncommunicated areas such as large rural areas, desert territories, frozen areas, jungle areas, and high seas.

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The major small satellite market players include companies such as Thales Group, Airbus, L3Harris Technologies Inc., SpaceX, and Swarm Technologies. These companies have a well-established customer base, and they are already engaged in the development of small satellites for the future small satellite major projects globally. Also, the small satellite market players have been collaboratively working with different end users such as government, commercial, and military customers to cater to their growing needs for nanosatellites, microsatellites, and picosatellites. Further, these companies have a good market share in terms of subsidiary companies. Most of the small satellite market leaders also focus on implementing merger and acquisition strategies that lead to the expansion of their existing business lines along with strong expansion.

Companies with low profit margin includes vendors such as Aerospace Corporation, Millennium Space System, AAC Clyde Space, Microsats Systems, and Zephyr. These companies are majorly focusing on providing innovative solutions to their respective customers to retain their positions in their respective product segments. Such vendors have a less product differentiation of small satellites along with limited customer base, which is one of the major factors behind their lower small satellite market share and lower profit margins.

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Internet access, machine-to-machine communication (M2M), and the Internet of Things (IoT) are among the most important applications of a small satellite. Space has become an ideal solution to improve the efficiency of current terrestrial communication networks. According to Al?n Space, by 2025, more than 25.2 billion IoT connections are predicted to exist worldwide, and the IoT market will reach US$ 1,072.08 billion ( 950 billion). Also, small satellite constellations can play an important role in various environmental conditions, especially in remote or hard-to-reach places, where real-time data is received from all types of sensors and linked devices for IoT-based business models. Thus, a small satellite helps receive, store, and transmit real-time information to any point.

Based on country, the small satellite market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Over the years, satellite research & development programs and production facilities have increased in Europe. The region is also highly dependent on space services for applications such as earth observation, communication, and navigation. According to European Parliamentary Research Service (EPRS), 10% of Europe's GDP is supported by satellite navigation signals. For instance, according to EPRS, in 2021, the global navigation satellite systems (GNSS) recorded a total revenue of US$ 174.27 billion, in which Europe accounted for 25% of the total revenue. Thus, the growing demand for nano and micro satellites for communication and navigation applications across the country is constantly increasing across the region.

SES, Eutelsat, Arqiva, Hispasat, Globecast, and other World Teleport Association (WTA) companies are utilizing small satellite networks to offer communication services. These companies offer cloud services and other connectivity solutions for video and data management to video service providers, broadcasters, telecom operators, Internet Service Providers (ISPs), and government agencies. Thus, the rising adoption of satellite communication is directly propelling the demand for small satellites across Europe, contributing to the growth of the small satellite market in the region.

The European Space Agency (ESA) is actively engaged in several projects to develop nanosatellites. For instance, in April 2019, the ESA set up a dedicated unit for designing nanosatellite. The agency partnered with numerous local organizations to design nano satellites for atmospheric reentry measurements and ozone monitoring. Also, in 2019, ESA started the development of Miniaturized - Asteroid Remote Geophysical Observer (M-ARGO) nanosatellite for the assessment of asteroids.

Another nano satellite that the agency is developing includes Rendezvous Autonomous CubeSats Experiment (RACE) for the testing of autonomous rendezvous and docking capabilities. These factors are further expected to contribute to the rapid growth of the small satellite market in Europe in the coming years. The region also homes several small satellite market players, further boosting the growth of the region. Some of the players to be mentioned are Infineon Technologies AG, Tyvak International, AAC Clyde Space, Leonardo S.p.A, SPUTNIX LLC, and Al?n Space.

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TABLE OF CONTENTS:
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Small Satellite Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Support for Development of Small Satellite
5.1.2 Increasing Number of Partnerships and Contracts
5.2 Key Market Restraints
5.2.1 Lack of Small Satellite Manufacturers Across Emerging Regions
5.3 Key Market Opportunities
5.3.1 Growing IoT and Communication Applications
5.3.2 Rising Production of Smallsats for Beyond LEO Orbit Launches
5.4 Future Trends
5.4.1 Rising Adoption of Small Satellites for Military Applications
5.5 Impact Analysis of Drivers and Restraints
6. Global Market Analysis
6.1 Global Overview
6.2 Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
6.4 Competitive Benchmarking
6.4.1 Competitive Benchmarking
6.5 Growth Matrix
7. Analysis - By Type
7.1 Overview
7.2 By Type (2021 and 2028)
7.3 Nanosatellite (Upto 10 Kg)
7.3.1 Overview
7.3.2 Nanosatellite (Upto 10 Kg): Revenue and Forecast to 2028 (US$ Million)
7.4 Microsatellite (10-150 Kg)
7.4.1 Overview
7.4.2 Microsatellite (10-150 Kg): Revenue and Forecast to 2028 (US$ Million)
8. Analysis - By Payload
8.1 Overview
8.2 By Payload (2021 and 2028)
8.3 Automatic Identification System (AIS)
8.3.1 Overview
8.3.2 Automatic Identification System: Revenue and Forecast to 2028 (US$ Million)
8.4 Transmitter
8.4.1 Overview
8.4.2 Transmitter: Revenue and Forecast to 2028 (US$ Million)
8.5 Imaging Devices
8.5.1 Overview
8.5.2 Imaging Devices: Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Revenue and Forecast to 2028 (US$ Million)
9. Small Satellite Market Analysis - By Application
9.1 Overview
9.2 Breakdown, by Application, (2021 and 2028)
9.3 Earth Observation
9.3.1 Overview
9.3.2 Earth Observation: Revenue and Forecast to 2028 (US$ Million)
9.4 Communication and Navigation
9.4.1 Overview
9.4.2 Communication and Navigation: Revenue and Forecast to 2028 (US$ Million)
9.5 Scientific Research
9.5.1 Overview
9.5.2 Scientific Research: Revenue and Forecast to 2028 (US$ Million)
Continued…

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