Small Satellite Market, By Satellite Size (Minisatellite, Microsatellite, Nanosatellite, Picosatellite, Femtosatellite), By Application Type (Earth Observation, Telecommunication, Scientific Research, Technology Demonstration), By End User (Civil, Defense, Commercial, Government), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Jun 2023

Code : CMI2512

Pages :176

Formats :

Excel and PDF

Industry : Information and Communication Technology

Small Satellite MarketSize and Trends

Global Small Satellites market was valued at US$ 3,900 Mn in 2022 and is forecast to reach a value of US$ 12,491 Mn by 2030, exhibiting CAGR of 15.7% between 2023 and 2030.

Figure 1: Global Small Satellite Market Share (%), By Region, 2022

Global Small Satellite Market- Trends:

Increasing Launch Capacity

The availability of dedicated small satellite launch services and rideshare options has expanded significantly. ... ISRO has successfully launched their second developmental launch these SSLV has launch capacity upto 500Kg satellites which can result into low cost access to space and flexibility in carrying multiple small satellites at once.

Miniaturization and Advanced Technology

There is a strong emphasis on miniaturization in the small satellite industry. Advances in miniaturized components, including sensors, cameras, communication systems, and propulsion systems, have allowed for the development of highly capable small satellites. Smaller satellites also benefit from reduced manufacturing and launch costs. For Instance, on May 2021, IBM which is a multination technology company announced that they have developed a smallest yet most powerful microchip which is 2 nanometer in size.