Small Satellite Market Size to Reach $15.85 Billion by 2029 | Growth at 19.3% CAGR Forecast

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What is the Projected Market Size of the Small Satellite Industry?
In recent times, there has been a significant increase in the size of the small satellite market. The projected growth is from $6.48 billion in 2024 to $7.82 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 20.8%. Factors such as cost-effectiveness in space missions, progress in miniaturization, speedy development cycles, enhanced access to space, and the commercialization of space activities have contributed to the historic growth rate.

What Will Be the Size of the Small Satellite Market by 2029?
Over the coming years, the small satellite market is expected to experience brisk expansion, with its worth predicted to hit $15.85 billion by 2029, boasting a compound annual growth rate (CAGR) of 19.3%. Such growth during this forecast period can be credited to an increasing need for earth observation, the escalation of communication constellations, progress in remote sensing technologies, and intensified space exploration and interplanetary missions. Anticipated trends for this forecast period encompass augmented utilization of CubeSats, swift progression in software-defined satellites, emphasis on sustainable and eco-friendly satellite designs, the rise of commercial small satellite data services, and the incorporation of artificial intelligence (AI) and machine learning.

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What Are the Key Drivers Accelerating Growth in the Small Satellite Market?
Growth in the small satellite market is being significantly influenced by the upswing in space exploration missions. Globally, various government agencies are enhancing their space missions and achieving success with the help of small satellites. As reported by the Economic Times, an English vernacular daily, around 100 satellites are planned to be launched by China's National Space Administration (CNSA) by the year 2025. Similarly, as per the information from the US Air Force Research Laboratory, an entity managed by the United States Air Force Materiel Command, the US military is planning to broaden its space awareness beyond the geostationary orbit. They aim to extend their reach to the moon, patrolling it more and furthering the mission around 1000 times higher to the other side. These advancements are predicted to significantly influence the necessitation and application of small satellites worldwide.

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How Is the Small Satellite Market Segmented by Type, Application, and Region?
The small satellite market covered in this report is segmented -

1) By Type: Minisatellite, Microsatellite, Nanosatellite, Pico-Satellites, Femtosatellites
2) By Orbit: Low Earth Orbit (LEO), Middle Earth Orbit (MEO), Geostationary Earth Orbit (GEO)
3) By Component: Structures, Payload, Electric Power System, Solar Panel And Antenna Systems, Propulsion Systems, Other Components
4) By Application: Earth Observation And Remote Sensing, Satellite Communication, Science And Exploration, Mapping And Navigation, Space Observation, Other Applications
5) By End-User: Commercial, Academic, Government And Military, Other End-Users

Subsegments:
1) By Minisatellite: 100-1,000 kg Satellites
2) By Microsatellite: 10-100 kg Satellites
3) By Nanosatellite: 1-10 kg Satellites
4) By Pico-Satellites: 0.1-1 kg Satellites
5) By Femtosatellites: Less than 0.1 kg Satellites

What Are the Key Trends Driving Growth in the Small Satellite Market?
Key players in the small satellite market are concentrating their efforts on establishing manufacturing facilities to cater to the burgeoning need for space-associated services and foster the continual emergence of new technologies. Satellite manufacturing plants are special hubs where satellites are ingeniously designed, built and assembled. An exemplification of this is Blue Canyon Technologies Inc., a prominent US-based space enterprise, that inaugurated a cutting-edge small satellite manufacturing facility in Colorado in August 2022. This was done to cater to the escalating demand for small satellites and cubesats. Their upgraded facility spans over 31,000 square feet and brings together the manufacturing processes with a team dedicated to cubesat production to construct large spacecraft. This new production unit empowers the company to manufacture on a grander scale, ideate innovative solutions and provide high-quality satellites to fulfil client requirements.

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Who Are the Leading Companies Driving Growth in the Small Satellite Market?
Major companies operating in the small satellite market include Terran Orbital Corporation, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, Honeywell International Inc., GomSpace Group AB, L3Harris Technologies Inc., Ball Corporation, Singapore Technologies Engineering Ltd., Israel Aerospace Industries Ltd., Space Exploration Technologies Corp, Thales Alenia Space, Orbital ATK Inc., Sierra Nevada Corporation, QinetiQ Group plc, OHB SE, The Aerospace Corporation, Planet Labs Inc., Blue Canyon Technologies Inc., Surrey Satellite Technology Ltd., Spire Global Inc., Axelspace Corporation, Innovative Solutions In Space B.V., LeoStella LLC, Capella Space Corp, Astrocast SA, Adcole Maryland Aerospace LLC, Satlantis LLC, Kongsberg NanoAvionics

Which Is the Leading Region in the Global Small Satellite Market?
North America was the largest region in the small satellite market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the small satellite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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