The global CubeSat market size reached US$ 354.6 Million in 2023. Looking forward, the publisher expects the market to reach US$ 1.50 billion by 2032, exhibiting a growth rate (CAGR) of 17.46% during 2023-2032. The growing commercial applications, increasing investments by governing agencies and rising technological expansion in electronic components represent some of the key factors driving the market.
The CubeSat market has been experiencing continuous growth. The rising demand for several commercial applications represents one of the primary drivers positively influencing the market. CubeSats are used across several commercial applications that include communication and IoT, geolocation and logistics, and signal monitoring (SIGINT). They are able to monitor radio signals transmitted from ground stations. This offers an advantage in the event of a disaster when they can provide prior information with respect to the degree of impact and the most adversely affected areas, permitting efficient planning for relief and rescue operations.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented due to the presence of several international and regional players in the industry. The volume of new entrants is moderate in the CubeSat industry due to the high market growth. However, high initial investment and legal barriers deter many players.
What is CubeSat?
CubeSats are cubical-shaped small satellites that are approximately four inches long with a volume of about one quart. These miniature satellites are exclusively used in low Earth orbit and interplanetary missions, due to their cost-effectiveness and fuel efficiency. As they are flown as auxiliary payloads on pre-planned missions, CubeSats facilitate the launch of missions from low earth orbit for commercial companies, non-profit organizations, and educational institutions. They currently find applications in remote sensing, geolocation and logistics, signal monitoring (SIGINT), and communications and performing scientific studies and technology demos in space.
In addition, the world continues to suffer from a series of destabilizing shocks, many companies experienced bankruptcy and a sharp decline in turnover. Moreover, the sudden outbreak of the COVID-19 pandemic led to the implementation of stringent lockdown regulations across several nations resulting in the temporary halt in numerous space observation, communication, earth observation, and traffic monitoring activities, which limited the growth of the market.
Moreover, as CubeSat provides access to real-time information on assets, such as ships, aircraft, and vehicles, anywhere on the earth, it is gaining traction across the globe. Apart from this, the rising demand for small satellite constellations, technological expansion in electronic components for CubeSats, and increasing investments in space missions for research and development (R&D) activities to develop CubeSat constellation for varied applications, such as navigation, provision of the global wireless internet system, and telecommunication, are stimulating the growth of the market around the world.
2. What is the expected growth rate of the global CubeSat market during 2024-2032?
3. What has been the impact of COVID-19 on the global CubeSat market?
4. What are the key factors driving the global CubeSat market?
5. What is the breakup of the global CubeSat market based on the size?
6. What is the breakup of the global CubeSat market based on the application?
7. What is the breakup of the global CubeSat market based on end user?
8. What is the breakup of the global CubeSat market based on the subsystem?
9. What are the key regions in the global CubeSat market?
10. Who are the key players/companies in the global CubeSat market?
The CubeSat market has been experiencing continuous growth. The rising demand for several commercial applications represents one of the primary drivers positively influencing the market. CubeSats are used across several commercial applications that include communication and IoT, geolocation and logistics, and signal monitoring (SIGINT). They are able to monitor radio signals transmitted from ground stations. This offers an advantage in the event of a disaster when they can provide prior information with respect to the degree of impact and the most adversely affected areas, permitting efficient planning for relief and rescue operations.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented due to the presence of several international and regional players in the industry. The volume of new entrants is moderate in the CubeSat industry due to the high market growth. However, high initial investment and legal barriers deter many players.
What is CubeSat?
CubeSats are cubical-shaped small satellites that are approximately four inches long with a volume of about one quart. These miniature satellites are exclusively used in low Earth orbit and interplanetary missions, due to their cost-effectiveness and fuel efficiency. As they are flown as auxiliary payloads on pre-planned missions, CubeSats facilitate the launch of missions from low earth orbit for commercial companies, non-profit organizations, and educational institutions. They currently find applications in remote sensing, geolocation and logistics, signal monitoring (SIGINT), and communications and performing scientific studies and technology demos in space.
COVID-19 Impact:
The COVID-19 pandemic outbreak has caused a severe problem for the CubeSat industry and imposed unprecedented challenges on numerous countries. It has forced governments across the globe to focus on medical services, which impelled countries to reduce their budgets for space programs to help pay for the pandemic response and recovery measures. This caused a significant drop in the production of CubeSat.In addition, the world continues to suffer from a series of destabilizing shocks, many companies experienced bankruptcy and a sharp decline in turnover. Moreover, the sudden outbreak of the COVID-19 pandemic led to the implementation of stringent lockdown regulations across several nations resulting in the temporary halt in numerous space observation, communication, earth observation, and traffic monitoring activities, which limited the growth of the market.
CubeSat Market Trends:
The rising application of CubeSats in applications associated with earth observation, communication, science, and technology represents one of the major factors positively influencing the market across the globe. In addition, governing agencies and private companies are making significant investments in the CubeSat to rapidly manufacture and test satellites and explore upcoming technologies and ideas. They are also focusing on the development of the present network technologies by offering intricate logistics administration solutions. Besides this, various countries are focusing on developing CubeSats, due to their low cost and short development time, which is creating a favorable market outlook.Moreover, as CubeSat provides access to real-time information on assets, such as ships, aircraft, and vehicles, anywhere on the earth, it is gaining traction across the globe. Apart from this, the rising demand for small satellite constellations, technological expansion in electronic components for CubeSats, and increasing investments in space missions for research and development (R&D) activities to develop CubeSat constellation for varied applications, such as navigation, provision of the global wireless internet system, and telecommunication, are stimulating the growth of the market around the world.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global CubeSat market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on size, application, end user and subsystem.Size Insights:
- 0.25U to 1U
- 1 to 3U
- 3U to 6U
- 6U to 12U
- 12U and Above
Application Insights:
- Earth Observation and Traffic Monitoring
- Science Technology and Education
- Space Observation
- Communication
- Others
End User Insights:
- Government and Military
- Commercial
- Others
Subsystem Insights:
- Payloads
- Structures
- Electrical Power Systems
- Command and Data Handling
- Propulsion Systems
- Attitude Determination and Control Systems
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global CubeSat market. Some of the companies covered in the report include:
- AAC Clyde Space
- CU Aerospace
- EnduroSat
- GomSpace
- Innovative Solutions In Space B.V.
- L3Harris Technologies Inc
- Planet Labs Inc.
- Pumpkin Space Systems
- Space Inventor
- Surrey Satellite Technology Limited (Airbus Group)
- Tyvak Nano-Satellite Systems Inc. (Terran Orbital Corporation)
Key Questions Answered in This Report
1. What was the size of the global CubeSat market in 2023?2. What is the expected growth rate of the global CubeSat market during 2024-2032?
3. What has been the impact of COVID-19 on the global CubeSat market?
4. What are the key factors driving the global CubeSat market?
5. What is the breakup of the global CubeSat market based on the size?
6. What is the breakup of the global CubeSat market based on the application?
7. What is the breakup of the global CubeSat market based on end user?
8. What is the breakup of the global CubeSat market based on the subsystem?
9. What are the key regions in the global CubeSat market?
10. Who are the key players/companies in the global CubeSat market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global CubeSat Market
6 Market Breakup by Size
7 Market Breakup by Application
8 Market Breakup by End User
9 Market Breakup by Subsystem
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- AAC Clyde Space
- CU Aerospace
- EnduroSat
- GomSpace
- Innovative Solutions In Space B.V.
- L3Harris Technologies Inc
- Planet Labs Inc.
- Pumpkin Space Systems
- Space Inventor
- Surrey Satellite Technology Limited (Airbus Group)
- Tyvak Nano-Satellite Systems Inc. (Terran Orbital Corporation)
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 354.6 Million |
| Forecasted Market Value ( USD | $ 1500 Million |
| Compound Annual Growth Rate | 17.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
