Auther / Researcher : MSf_78357
  • Category : Aerospace and Defense
  • Region : Global
  • Publishing Date : 04/15/2022
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Global Small Satellite Market


Global Small Satellite Market Share, Size, Trends, Industry Analysis Report, By Satellite Type (Minisatellite, Microsatellite, Nanosatellite, Cubesat, and Others); By Application (Communication, Earth Observation and Remote Sensing, Scientific Research & Exploration, Mapping & Navigation, Surveillance & Security, Meteorology, and Space Observation), By NGEO Orbit (Traditional LEO and MEO Satellites, LEO high throughput Satellites, and MEO high throughput Satellites); By End-User (Commercial, Government & Defense, and Civil), By Regions; Segment Forecast, 2021–2028

Market Overview

The global small satellite market was valued at USD 2.81 billion in 2020 and is expected to reach USD 11.63 billion by 2028, growing at a CAGR of 19.46% during 2021-2028.

Miniaturized satellites with a wet mass of anything under 500 KG can be categorized as a small satellite. The weight of the small satellites differ as per the components and sensors installed in them. The number of small satellites launched in the past few years has surged substantially owing to its low cost, easier launch vehicle integration, and technological developments. The market players are also emphasizing on building CubeSats with off the shelf components which is much easier, quicker, and cheaper. Additionally, increase in launch services provided by the market players such as ride-share mission by SpaceX which provides easy access to space for small satellite operators at an affordable price is also expected to contribute to the market growth substantially. 

Market Dynamics

The growth of the small satellite market is primarily driven by surging demand for LEO-based services in communication application. Small satellites in the communication constellation mainly use either radio or laser communications to communicate with the ground or each other, and have attitude control and propulsion systems onboard. There is a proliferating demand for high-speed, low-cost broadband with increased capacity for enterprise data (banking, retail), energy sector (gas, oil, mining), and government in well-established countries. 

Amid the pandemic, NASA started offering funds to start-up players as soon as it was apparent that a lot of companies were unable to conduct business as usual due to stringent lockdown and social distance norms. When investors are retrenching especially in the US, the government steps us and either increases their investment or provides advances to some of these companies. For instance, in December 2020, NASA signed a contract with Relativity Space, Astra Space, and Firefly Black to launch various types of small satellites under contracts which was valued at USD 16.7 million. This initiative is aimed at looking into the risks of employing new launch vehicles for future small spacecraft and missions.

Segmental Overview:

The market is primarily segmented on the basis of satellite mass, application, end-use, NGEO orbit, and geographic region.

By Application:

The earth observation and remote sensing segment held the largest share in the global market in 2020. This is mainly ascribed to the highly compact nature of small satellites which helps in effective earth observation. In earth observation, the small satellites are used for electro-optical and radar observation of the earth. In addition, these satellites are used for meteorology, both for operational and Earth-science research purposes. 

By End-Use:

The commercial segment is estimated to register highest CAGR during the forecast period. The commercial segment consists of various applications such as Earth observation, maritime tracking, and surveillance. Small satellites provide high-resolution imagery & mapping capabilities, which finds applications in environmental impacts, monitoring land-use, agriculture, forestry management, and natural resources.

By Geography:

Geographically, North America was the largest revenue contributor in global market. In the region, the US was the leading contributor to the regional market growth due to strong presence of the key player such as SpaceX, Spire Global, and Planet Labs. A spike in the minisatellite launches in the USA is the key factor propelling the market growth in the region. In addition, increased NASA budget and funding by government for small satellite development is further anticipated to bolster the region’s growth. 

Europe held the second-largest share in the global market. Strong funding by VCs and government agencies in space exploration as well remote sensing capabilities is likely to boost the product demand in the region. The presence of nascent rocket manufacturers in the region such asIsar Aerospace, and Rocket Factory Augsburg aimed at deploying small satellites into orbit, further spurs the region’s growth.

COVID-19 Impact:

COVID-19 outbreak had a moderate impact on the small satellites market due to postponement of launches, stoppage of satellite production lines, and reduced funding sources.The rapid spread of COVID-19 across geographies has led to a significant drop in demand for small satellites, limited workforce, and limited availability of equipment. 

Competitive Insight

Some of the major players operating the global market Kepler Communications Inc., OneWeb Satellites, Chang Guang Satellite Technology Co., Ltd., Satellogic, SpaceX, Planet Labs Inc., Spire Global, Surrey Satellite Technology Ltd. (SSTL), Swarm Technologies, Inc., and Sierra Nevada Corporation. The market players are emphasizing on new satellite launches. For instance, In January 2021, SpaceX launched 143 small satellites, which is the highest number of satellites launched in a single mission.

 

Chapter 1 Research Methodology

1.1 Introduction

Our team of researchers implemented a mix of primary and secondary research. Our projects initiate with secondary research, where we referred to a variety of sources comprising trade databases, investor presentations, company annual reports, the government published documents, white papers, and several paid databases. This process helped us outline the market and refine the scope of the study. We have a very strict guideline for selecting the sources of our information. These sources were screened and checked for the quality of data they offer and their methods of collecting such data. We always double-check the information from at least two sources to determine the credibility of the data.

1.1 Data Capture Sources

Post the initial data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across teams and by our in-house SMEs. Along with data mining, we also initiate the primary research phase in which we interact with compa-nies operating within the market space.

To evaluate the wholeness of the market, we interact (via email or telephone) with players who are responsible for adding value to the final product. Additionally, we interact with related industries to understand the external factors that can drive/hamper a market. We also make it a point to evaluate various economic parameters, which typically, have an impact on the purchasing choices of individuals as well as companies.

Post this stage, data is cross-verified with the companies that operate in a market space. It is important for us to study these companies in detail, to understand their existing performance and future strategies which will define the market in the coming years.

All this data is collected and evaluated by our analysts. Post the preparation of the report and data analysis, the findings are presented to our in-house experts who then eliminate discrepancies (if any).

1.1.1 Primary Sources

• Industry Associations

• Patent Websites

• Solutions and service providers

• Key industry leaders

• Technology consultants

• System Integrators

• Others

1.1.2 Secondary Sources

• Company Websites

• Company Presentations

• Company Annual Reports

• IEEE Journals

• Industrial Magazines

• White Papers

• Press Releases

1.1.3 Paid Data Sources

• Factiva

• D&B Hoovers

• Statista

• Owler

• Enlyft

• HG Insights

• Bloomberg

• CrunchBase

1.2 Market Size Estimation

We employ the universally accepted approach of data triangulation to estimate market sizes. We have applied a combination of top-down and bottom-up approaches to arrive at a small range close to the market size. We then connected with industry opinion leaders, subject matter experts, market participants, suppliers, traders, regulators, etc., to validate and verify our research findings and estimations. We approached participants from all stages of the supply chain and get their insights on the market to enhance the accuracy of our estimations and gain qualitative and subjective information to support our data.

1.2.1 Top-down approach: 

The top-down approach includes estimating the global market. We study the whole value chain to determine the parent market and the upstream market size in the value chain to justify our estimations for the market being studied. The top-down approach provides a way to verify the market size estimates from the total number. It is also used in further segmenting the market into smaller segments (country/application/others).

1.2.2 Bottom-up approach: 

We employ the bottom-up approach where the market data is available for sales of companies participating in the market. We study the country sales and sales in the inclusive segments of the market along with demographics of the individual countries to arrive at the estimates for the market.

 

  FIG. 1 Market Size Estimation: Top-down and Bottom-up Methodology 

 

Source: XYZ Research

1.3 Market Forecast

In the rapidly changing business scenario catalyzed by the changes in technology, traditional forecasting models fall short. Each market has unique characteristics and risks that impact it differently. We aim to find commonalities and abnormalities to identify real patterns. Consequently, we employ custom forecasting models using a mix of traditional time series forecasting methods adjusted to accommodate the effects of current factors that may have an impact on the current and future outlook of the market. 

The forecasting techniques we use are a mixture of regression analysis and exponential smoothening to align our predictive analysis with the recent trends and rapidly changing business cycles. For seasonal markets, we use hybrid forecasting methods that include spectral analysis in combination with the decomposition forecasting method.

  FIG. 2 Market Forecast 

 

Source: XYZ Research

 

 

1.4 Data Triangulation

  FIG. 3 Research Methodology -  Data Triangulation 

 

Source: XYZ Research

 

1.5 Assumptions and Limitations

• Factors including the underlying growth of end-user industry industries and new product launches by key manufacturers have been taken into consideration while forecasting growth.

• Financial data is provided for the private as well as publicly listed companies.

• Numbers may not add up due to rounding off.

• Inflation has not been considered while estimating and forecasting the market.

• Constant currency rates have been taken into consideration while calculating the market estimates to maintain uniformity.

 


Global Small Satellite Market Share, Size, Trends, Industry Analysis Report, By Satellite Type (Minisatellite, Microsatellite, Nanosatellite, Cubesat, and Others); By Application (Communication, Earth Observation and Remote Sensing, Scientific Research & Exploration, Mapping & Navigation, Surveillance & Security, Meteorology, and Space Observation), By NGEO Orbit (Traditional LEO and MEO Satellites, LEO high throughput Satellites, and MEO high throughput Satellites); By End-User (Commercial, Government & Defense, and Civil), By Regions; Segment Forecast, 2021–2028

 

 1  Executive Summary

 

 2  Market Introduction

 2.1  Definition

 2.2  Architecture

 2.3  Scope of the Study

 2.4  Related Stakeholders

 

 3  Research Methodology

 3.1  Introduction

 3.2  Primary Research

 3.2.1  Key Insights

 3.2.2  Breakdown of Primary Interviews

 3.3  Secondary Research

 3.3.1  Important Sources

 3.4  Market Size Estimation Approaches

 3.4.1  Top-Down Approach

 3.4.2  Bottom-Up Approach

 3.4.3  Data Triangulation

 3.5  List of Assumptions

 

 4  Market Dynamics

 4.1  Introduction

 4.2  Drivers

 4.3  Restraints

 4.4  Opportunities

 4.5  Industry Life Cycle Analysis

 4.6  Porter's Five Forces Model Analysis

 4.7  PEST Analysis

 4.8  Growth Matrix Analysis

 4.9  Supply Chain Analysis

 

 5  Impact of COVID-19 on Global Small Satellite Market

 5.1  Small Satellite Market Trend and Forecast (US$ Million and Units)

 5.2  Growth Rate Forecast

 5.3  The Pandemic Assessment

 5.4  Market Segments’ Analysis (US$ Million)

 5.5  Regional and Country-Level Analysis (US$ Million)

 

 6  Global Small Satellite Market, By Satellite Type

 6.1  Introduction

 6.2  Minisatellite

 6.3  Microsatellite

 6.4  Nanosatellite

 6.5  Cubesat

 6.6  Others

 

 7  Global Small Satellite Market, By Application

 7.1  Introduction

 7.2  Communication

 7.3  Earth Observation and Remote Sensing

 7.4  Scientific Research & Exploration

 7.5  Mapping & Navigation

 7.6  Surveillance & Security

 7.7  Meteorology

 7.8  Space Observation

 

 8  Global Small Satellite Market, By NGEO Orbit

 8.1  Introduction

 8.2  Traditional LEO and MEO Satellites

 8.3  LEO high throughput Satellites

 8.4  MEO high throughput Satellites

 

 9  Global Small Satellite Market, By End User

 9.1  Introduction

 9.2  Commercial

 9.3  Government & Defense

 9.4  Civil

 

 10  Global Small Satellite Market, By Region

 10.1  Introduction

 10.2  North America

 10.2.1  US

 10.2.2  Canada

 10.2.3  Mexico

 10.3  Europe

 10.3.1  Germany

 10.3.2  UK

 10.3.3  France

 10.3.4  Italy

 10.3.5  Spain

 10.3.6  Rest of Europe

 10.4  Asia-Pacific

 10.4.1  China

 10.4.2  India

 10.4.3  Japan

 10.4.4  South Korea

 10.4.5  Rest of Asia-Pacific

 10.5  Middle East and Africa

 10.6  South America

 

 11  Competitive Landscape

 11.1  Introduction

 11.2  Market Concentration Level

 11.3  Regional Dynamics

 11.4  Portfolio Analysis

 11.5  Market Share Analysis, 2020

 11.6  Recent Developments, 2018-2021

 11.6.1  New Product Launches

 11.6.2  Partnerships

 11.6.3  Mergers or Acquisitions

 11.6.4  Business Expansions

 11.6.5  Others

 

 12  Company Profiles

(This section covers the Business Overview, Financial Overview, Product and Product Offerings, Recent Developments, SWOT Analysis, and Key Strategies of the top market vendors. The given sequence does not represent their rankings in the market.

 12.1  Chang Guang Satellite Technology Co., Ltd. 

 12.2  OneWeb Satellites

 12.3  Kepler Communications Inc. 

 12.4  Satellogic

 12.5  SpaceX

 12.6  Planet Labs Inc. 

 12.7  Spire Global 

 12.8  Swarm Technologies, Inc.

 12.9  Surrey Satellite Technology Ltd. (SSTL)

 12.10  Sierra Nevada Corporation                      

 

 13  Appendix

 13.1  Discussion Guide

 13.2  Customization Options

 13.3  Related Reports

 

 

List of Tables

 

Table 1  Global Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 2  Global Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 3  Global Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 4  Global Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 5  Global Small Satellite Market, By Region, 2019-2028 (USD Billion)

Table 6  North America Small Satellite Market, By Country, 2019-2028 (USD Billion)

Table 7  North America Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 8  North America Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 9  North America Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 10  North America Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 11  United States Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 12  United States Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 13  United States Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 14  United States Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 15  Canada Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 16  Canada Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 17  Canada Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 18  Canada Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 19  Mexico Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 20  Mexico Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 21  Mexico Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 22  Mexico Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 23  Europe Small Satellite Market, By Country, 2019-2028 (USD Billion)

Table 24  Europe Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 25  Europe Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 26  Europe Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 27  Europe Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 28  Germany Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 29  Germany Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 30  Germany Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 31  Germany Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 32  United Kingdom Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 33  United Kingdom Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 34  United Kingdom Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 35  United Kingdom Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 36  France Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 37  France Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 38  France Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 39  France Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 40  Italy Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 41  Italy Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 42  Italy Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 43  Italy Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 44  Spain Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 45  Spain Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 46  Spain Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 47  Spain Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 48  Rest of Europe Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 49  Rest of Europe Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 50  Rest of Europe Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 51  Rest of Europe Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 52  Asia-Pacific Small Satellite Market, By Country, 2019-2028 (USD Billion)

Table 53  Asia-Pacific Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 54  Asia-Pacific Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 55  Asia-Pacific Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 56  Asia-Pacific Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 57  China Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 58  China Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 59  China Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 60  China Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 61  India Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 62  India Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 63  India Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 64  India Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 65  Japan Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 66  Japan Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 67  Japan Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 68  Japan Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 69  South Korea Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 70  South Korea Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 71  South Korea Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 72  South Korea Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 73  Rest of Asia-Pacific Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 74  Rest of Asia-Pacific Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 75  Rest of Asia-Pacific Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 76  Rest of Asia-Pacific Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 77  Middle East and Africa Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 78  Middle East and Africa Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 79  Middle East and Africa Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 80  Middle East and Africa Small Satellite Market, By End User, 2019-2028 (USD Billion)

Table 81  South America Small Satellite Market, By Satellite Type, 2019-2028 (USD Billion)

Table 82  South America Small Satellite Market, By Application, 2019-2028 (USD Billion)

Table 83  South America Small Satellite Market, By NGEO Orbit, 2019-2028 (USD Billion)

Table 84  South America Small Satellite Market, By End User, 2019-2028 (USD Billion)

 

List of Figures

 

Figure 1 Global Small Satellite Market: Market Segmentation

Figure 2 Global Small Satellite Market: Research Methodology

Figure 3 Breakdown of Primary Interviews

Figure 4 Top Down Approach

Figure 5 Bottom Up Approach

Figure 6 Data Triangulation

Figure 7 Global Small Satellite Market: Drivers, Restraints, Opportunities, and Challenges

Figure 8 Global Small Satellite Market: Porter's Five Forces Model Analysis

Figure 9 Global Small Satellite Market: Value Chain Analysis

Figure 10 Global Small Satellite Market Share Analysis, By Satellite Type, 2020 and 2028

Figure 11 Global Small Satellite Market Share Analysis, By Application, 2020 and 2028

Figure 12 Global Small Satellite Market Share Analysis, By NGEO Orbit, 2020 and 2028

Figure 13 Global Small Satellite Market Share Analysis, By End User, 2020 and 2028

Figure 14 Global Small Satellite Market Share Analysis, By Region, 2020 and 2028

Figure 15 North America Small Satellite Market Share Analysis, By Country, 2020 and 2028

Figure 16 North America Small Satellite Market Share Analysis, By Satellite Type, 2020 and 2028

Figure 17 North America Small Satellite Market Share Analysis, By Application, 2020 and 2028

Figure 18 North America Small Satellite Market Share Analysis, By NGEO Orbit, 2020 and 2028

Figure 19 North America Small Satellite Market Share Analysis, By End User, 2020 and 2028

Figure 20 Europe Small Satellite Market Share Analysis, By Country, 2020 and 2028

Figure 21 Europe Small Satellite Market Share Analysis, By Satellite Type, 2020 and 2028

Figure 22 Europe Small Satellite Market Share Analysis, By Application, 2020 and 2028

Figure 23 Europe Small Satellite Market Share Analysis, By NGEO Orbit, 2020 and 2028

Figure 24 Europe Small Satellite Market Share Analysis, By End User, 2020 and 2028

Figure 25 Asia-Pacific Small Satellite Market Share Analysis, By Country, 2020 and 2028

Figure 26 Asia-Pacific Small Satellite Market Share Analysis, By Satellite Type, 2020 and 2028

Figure 27 Asia-Pacific Small Satellite Market Share Analysis, By Application, 2020 and 2028

Figure 28 Asia-Pacific Small Satellite Market Share Analysis, By NGEO Orbit, 2020 and 2028

Figure 29 Asia-Pacific Small Satellite Market Share Analysis, By End User, 2020 and 2028

Figure 30 Middle East and Africa Small Satellite Market Share Analysis, By Satellite Type, 2020 and 2028

Figure 31 Middle East and Africa Small Satellite Market Share Analysis, By Application, 2020 and 2028

Figure 32 Middle East and Africa Small Satellite Market Share Analysis, By NGEO Orbit, 2020 and 2028

Figure 33 Middle East and Africa Small Satellite Market Share Analysis, By End User, 2020 and 2028

Figure 34 South America Small Satellite Market Share Analysis, By Satellite Type, 2020 and 2028

Figure 35 South America Small Satellite Market Share Analysis, By Application, 2020 and 2028

Figure 36 South America Small Satellite Market Share Analysis, By NGEO Orbit, 2020 and 2028

Figure 37 South America Small Satellite Market Share Analysis, By End User, 2020 and 2028

Figure 38 Global Small Satellite Market: Competitive Benchmarking

Figure 39 Global Small Satellite Market: Vendor Share Analysis, 2020