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Global Small Satellite Market Share, Size, Trends, Analysis, Growth, Forecast: By Type: Minisatellite, Microsatellite, Nanosatellite, Others; By Application: Earth Observation and Remote Sensing, Satellite Communication, Science and Exploration, Mapping and Navigation, Others; By End Use; Regional Analysis; Competitive Landscape; 2023-2028

Global Small Satellite Market Outlook

The global small satellite market size attained a value of USD 4.24 billion in 2022. The market is further expected to grow at a CAGR of 15.80% between 2023 and 2028 to reach a value of USD 10.23 billion by 2028.

 

Key Trends in the Market

A small satellite, also known as a smallsat, is defined as a type of satellite which weighs less than 1,000 kilograms. The size of this satellite is compact and lightweight, which makes it relatively easy to manufacture. Small satellites are high speed with increased efficiency which makes it ideal for human exploration and small-scale scientific missions in space.  

 

  • The global small satellite market growth is being propelled by the rising technological innovations including the integration of small satellite technology with artificial intelligence, giving rise to superior quality of data and imagery. This superior quality data is catering to the demands of various end use industries.
  • The increasing application of small satellites in the commercial sector, to provide data and real-time location access to industries such as agriculture, forestry, disaster management, and wildlife, among others, are expected to push the small satellite market growth in the forecast period.
  • Small satellites are crucial in the military sector as they provide battlefield information which improves the decision making of the commanders. In this regard, the increasing military expenditure to encourage the technological innovations and satellite technology, is further fuelling the market growth.

 

Market Analysis

Based on type, the market can be segmented into minisatellite, microsatellite, and nanosatellite, among others. On the basis of application, the market can be classified into earth observation and remote sensing, satellite communication, science and exploration, mapping and navigation, and space observation, among others.  Based on end use, the market can be categorised into commercial, and military and government, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global small satellite market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

 

  • GomSpace A/S
  • Thales Group
  • L3Harris Technologies, Inc.
  • Lockheed Martin Corporation
  • Northrop Grumman Systems Corporation
  • Planet Labs PBC
  • Others

 

Market Share by Type

The nanosatellite segment, based on type, holds a decent share in the small satellite market. These satellites are small but are as capable as regular satellites. Nanosatellites are witnessing a heightened demand in earth observational studies to cater to the data demands from various industries including agriculture and disaster management. 

 

The cost of launching a nanosatellite is extremely low as compared to other satellites and these satellites can be developed in short periods of time. Moreover, nanosatellites last for not more than two years outside earth’s atmosphere before re-entering. This reduces the risk of disaster during the trial and building phases. Meanwhile, the microsatellite segment is also expected to gain traction in the market for small satellites, because of its low cost and high efficiency which allows multiple launches. 

 

Market Share by End Use

The military and government segment, based on end use, accounts for a significant share in the market. Satellite communication technology is becoming more and more crucial in the military and government sector to achieve ubiquitous updates about location or potential threats. Small satellites can improve the decision making of battlefield commanders by providing real-time locations as well as data about enemy territory. 

 

Over the forecast period, the anticipated increase in military expenditure by various countries due to rising geopolitical tensions, coupled with the low manufacturing cost of this type of satellite, is expected to bolster the small satellite market. Furthermore, the rapid rise in technical innovations, supported by the emerging artificial intelligence (AI) technology, is accelerating the market growth. 

 

Competitive Landscape

GomSpace A/S is a prominent manufacturer of cubesat and small satellites and caters to the demands from various end use industries including government, commercial, and academic, among others. This company was founded in the year 2007 and is currently headquartered in Aalborg, Denmark. Its specialisations include cubesat platforms, miniaturised radio technology, and systems integration.

 

Thales Group: is a leading aerospace company which manufactures, designs, and markets electrical appliances and systems which cater to the demands of various end use industries including aerospace, transportation, and defence, among others. The company was founded in the year 2000 and is currently headquartered in Paris, France. 

 

L3Harris Technologies, Inc. is a leading aerospace and defence company based and headquartered in Florida, United States. The company was founded in the year 2019 and currently innovates in the field of space technology. L3Harris Technologies, Inc. focuses on providing its customers with end-to-end solutions for mission-critical needs spanning all types of sectors. 

 

Other market players include Lockheed Martin Corporation, Northrop Grumman Systems Corporation, and Planet Labs PBC, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • End Use
  • Region
Breakup by Type
  • Minisatellite
  • Microsatellite
  • Nanosatellite
  • Others
Breakup by Application
  • Earth Observation and Remote Sensing
  • Satellite Communication
  • Science and Exploration
  • Mapping and Navigation
  • Space Observation
  • Others
Breakup by End Use
  • Commercial
  • Military and Government
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • GomSpace A/S
  • Thales Group
  • L3Harris Technologies, Inc.
  • Lockheed Martin Corporation
  • Northrop Grumman Systems Corporation
  • Planet Labs PBC
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Small Satellite Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Small Satellite Historical Market (2018-2022) 
    8.3    Global Small Satellite Market Forecast (2023-2028)
    8.4    Global Small Satellite Market by Type
        8.4.1    Minisatellite
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Microsatellite
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Nanosatellite
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Others
    8.5    Global Small Satellite Market by Application
        8.5.1    Earth Observation and Remote Sensing
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Satellite Communication
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Science and Exploration
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Mapping and Navigation
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Space Observation
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2022)
            8.5.5.3    Forecast Trend (2023-2028)
        8.5.6    Others
    8.6    Global Small Satellite Market by End Use
        8.6.1    Commercial
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Military and Government
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Others
    8.7    Global Small Satellite Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028)
9    North America Small Satellite Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Small Satellite Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Small Satellite Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Small Satellite Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Small Satellite Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    GomSpace A/S
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Thales Group
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    L3Harris Technologies, Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Lockheed Martin Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Northrop Grumman Systems Corporation
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Planet Labs PBC
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Small Satellite Market: Key Industry Highlights, 2018 and 2028
2.    Global Small Satellite Historical Market: Breakup by Type (USD Million), 2018-2022
3.    Global Small Satellite Market Forecast: Breakup by Type (USD Million), 2023-2028
4.    Global Small Satellite Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Small Satellite Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Small Satellite Historical Market: Breakup by End Use (USD Million), 2018-2022
7.    Global Small Satellite Market Forecast: Breakup by End Use (USD Million), 2023-2028
8.    Global Small Satellite Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global Small Satellite Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America Small Satellite Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America Small Satellite Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe Small Satellite Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe Small Satellite Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific Small Satellite Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific Small Satellite Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America Small Satellite Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America Small Satellite Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa Small Satellite Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa Small Satellite Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global Small Satellite Market Structure

Key Questions Answered in the Report

The global market value for small satellites in 2022 was USD 4.24 billion.

The market is estimated to grow at a CAGR of 15.80% in the forecast period of between 2023 and 2028 to reach USD 10.23 billion by 2028.

The increasing application of small satellites in the commercial sector to provide data and real-time location access to industries such as agriculture, forestry, disaster management, and wildlife, among others, and increasing dependence of military and government sector on satellite communication are the major drivers of the market.

The key trends in the small satellite market include the rising technological innovations integrating small satellite technology with artificial intelligence which are giving rise to superior quality of data and imagery.

Minisatellite, microsatellite, and nanosatellite, among others, are the different types of small satellites.

Earth observation and remote sensing, satellite communication, science and exploration, mapping and navigation, and space observation, among others, are the significant applications of small satellites.

Small satellites are also known as smallsats.

The primary end uses of small satellites in the market are commercial, and military and government, among others. 

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, are the major regional markets.

GomSpace A/S, Thales Group, L3Harris Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman Systems Corporation, and Planet Labs PBC, among others, are the key market players, according to the report.

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