this estimates that the global annual small satellites installations reached 2,372 units in 2024 and are expected to reach 2,838 units in 2030, with a growth rate of 3.0%.
The newfound affordability and agility are driving a wave of innovation across numerous applications. Small satellites are being deployed for Earth observation, gathering high-resolution imagery for environmental monitoring and resource management. They are also facilitating global communication by forming constellations that deliver internet access to previously underserved regions. The small satellite market represents a dynamic and rapidly growing segment poised to reshape the space industry.
The small satellites market plunged in 2016 mainly due to launch failures. It further dropped slightly in 2018 when compared to 2017, owing to the decline in the number of small satellite launches. However, the market witnessed a robust pace in 2020 especially due to the launch of the Starlink internet satellite by SpaceX.
In August 2023, Planet Labs acquired Sinergise, including Sentinel Hub, to accelerate the advancement of its Earth Data Platform and the delivery of Earth Observation (EO) data to customers. This acquisition also reflected Planet Labs' eagerness to invest in Europe and develop EO data applications.
In August 2021, SpaceX acquired Swarm Technologies, a company that manufactures and operates ultra-small satellites for IoT devices. Swarm's services will benefit from better capitalization and access to resources available to SpaceX.
Smallsats weigh less than 1,200 kg. These satellites are simpler and use similar technologies as larger satellites.
SpaceX is a prominent leader in the small satellite industry, utilizing satellites primarily for communication and broadband internet services. The Starlink V2 Mini is in high demand in the small satellite market due to its 4x data capacity and advanced technology.
Rising demand for high-speed internet services coupled with growing digitalization across various verticals is augmenting the demand for small, especially for communication purposes.
Their lower orbital altitude compared to traditional satellites results in faster signal travel times, which is crucial for real-time communication services.
This growth is attributed to the increasing demand for internet services and mobile consumers.
The market is also being driven by the growing use of small satellites for surveillance purposes. Satellites can serve various commercial purposes such as weather forecasting, communication, and navigation.
Recently, the US government has also approved satellite constellations for the project Kuiper. These factors pave the way for the regional market.
The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with this Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Market Dynamics
Introduction
Miniaturized satellites having a wet mass of under 1,200 kilograms are considered under the small satellites category. The weight of the small satellites varies as per the components and sensors installed in them. These satellites have a shorter development team and cycles; thus, they can be developed and launched at a lower cost than traditional large satellites. Developments in computational technology and data analytics drove the miniaturization of satellite systems. This affordability and adaptability are fueling innovation across various sectors.The newfound affordability and agility are driving a wave of innovation across numerous applications. Small satellites are being deployed for Earth observation, gathering high-resolution imagery for environmental monitoring and resource management. They are also facilitating global communication by forming constellations that deliver internet access to previously underserved regions. The small satellite market represents a dynamic and rapidly growing segment poised to reshape the space industry.
Market Drivers
The number of small satellites launched in the past few years has increased significantly due to their low cost, easier integration with launch vehicles, and technological advancements. SpaceX plans to launch about 12,000 satellites in the Starlink constellation, while Amazon is investing over US$ 10 billion to launch Kuiper. The plan is to send 3,232 satellites into Low Earth Orbit (LEO) by 2029. According to the FCC's license, half is expected to be deployed by mid-2026.The small satellites market plunged in 2016 mainly due to launch failures. It further dropped slightly in 2018 when compared to 2017, owing to the decline in the number of small satellite launches. However, the market witnessed a robust pace in 2020 especially due to the launch of the Starlink internet satellite by SpaceX.
Recent Market JVs and Acquisitions:
A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:In August 2023, Planet Labs acquired Sinergise, including Sentinel Hub, to accelerate the advancement of its Earth Data Platform and the delivery of Earth Observation (EO) data to customers. This acquisition also reflected Planet Labs' eagerness to invest in Europe and develop EO data applications.
In August 2021, SpaceX acquired Swarm Technologies, a company that manufactures and operates ultra-small satellites for IoT devices. Swarm's services will benefit from better capitalization and access to resources available to SpaceX.
Key Players
The market is highly fragmented with the presence of some players. Most of the major players compete in some of the governing factors including technology, purpose, offerings, etc. The following are the key players in the small satellite market:Here is the list of the Top Players (Based on Dominance)
- Amazon Kuiper
- SpaceX (Starlink)
- OneWeb Satellites
- Planet Labs Inc.
- Spire Global
- Chang Guang Satellite Technology Co., Ltd.
- Satellogic
- Capella Space
By Type
Smallsats is expected to remain dominant as well as the fastest-growing satellite during the forecast period
The market is segmented into picosatellite nanosatellites, microsatellites, minisatellites, and smallsats.Smallsats weigh less than 1,200 kg. These satellites are simpler and use similar technologies as larger satellites.
SpaceX is a prominent leader in the small satellite industry, utilizing satellites primarily for communication and broadband internet services. The Starlink V2 Mini is in high demand in the small satellite market due to its 4x data capacity and advanced technology.
By Application Type
Communication is expected to remain the demand generator during the forecast period
The market is segmented into earth observation & meteorology, communication, scientific research & exploration, and others.Rising demand for high-speed internet services coupled with growing digitalization across various verticals is augmenting the demand for small, especially for communication purposes.
Their lower orbital altitude compared to traditional satellites results in faster signal travel times, which is crucial for real-time communication services.
By End-User Type
Commercial is expected to remain the dominant and fastest-growing end-user of the market during the forecast period
The market is segmented into civil, commercial, defense, and others.This growth is attributed to the increasing demand for internet services and mobile consumers.
The market is also being driven by the growing use of small satellites for surveillance purposes. Satellites can serve various commercial purposes such as weather forecasting, communication, and navigation.
Regional Insights
North America is expected to remain the largest market for small satellites during the forecast period
The market is dominated by Starlink, which has launched nearly 6,000 small satellites to date. Starlink plans to launch 12,000 satellites to provide global broadband connectivity.Recently, the US government has also approved satellite constellations for the project Kuiper. These factors pave the way for the regional market.
Research Methodology
This strategic assessment report from this research provides a comprehensive analysis that reflects today’s small satellite market realities and future market possibilities for the forecast period.The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with this Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.The small satellites market is segmented into the following categories:
By Type
- Picosatellite
- Nanosatellite
- Microsatellite
- Minisatellite
- Smallsats
By Application Type
- Earth Observation & Meteorology
- Communication
- Scientific Research & Exploration
- Others
By End-User Type
- Civil
- Commercial
- Defense
- Others
By Region
- North America (Country Analysis: The USA and Rest of North America)
- Europe (Country Analysis: The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Latin America and the Middle East)
Table of Contents
Overview of Research Scope, Methodology, and Data Collection
2. Small Satellites Market Environment Analysis
3. Small Satellites Market Assessment - COVID-19 Impact Assessment
4. Small Satellites Market Assessment (US$ Million and Units) (2015-2026)
5. Competitive Analysis
6. Strategic Growth Opportunities
7. Company Profile of Key Players
8. Appendix
Companies Mentioned
- Chang Guang Satellite Technology Co., Ltd.
- Kepler Communications Inc.
- OneWeb Satellites
- Planet Labs Inc.
- Satellogic
- SpaceX
- Spire Global
- Surrey Satellite Technology Ltd. (SSTL)
- Swarm Technologies, Inc.
Methodology
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