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    Small Satellites Market Report

    Small Satellites Market Report
    Report code - SR1080 Published On : Aug,2021 No. of Pages: 117
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    Small Satellites Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opp See more...

    Market Highlights

    Miniaturized satellites having a wet mass of under 500 KG 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, can be developed and launched at a lower cost in comparison to traditional large satellites.

    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. SpaceX’s robust plan of launching about 12,000 satellites in the Starlink constellation, of which half of them are targeted to be launched by end of 2024, is signalling a highly optimistic near-term outlook of the industry, especially of small satellite ones.

    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.

    The COVID-19 outbreak had a negligible impact on the small satellites market due to the longer project timelines for launching and establishing services. However, the temporary halt of satellite production lines, postponement of launches, and limited availability of funding led to some turbulence amid the pandemic. According to the Stratview Research, the small satellites market grew from USD 763.7mn in 2017 to USD 4657.0 mn in 2022, exhibiting a growth of 500%. Also, it estimates that in the coming 5 years, the market will reach USD 8,456.3 mn, almost double what it is in the year 2022. 

    Small-Satellites-Market-Size

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    Segments' Analysis

    By Type

    Based on the type, the market is segmented as minisatellite, microsatellite, nanosatellite, and picosatellite. The minisatellite is expected to remain the largest and fastest-growing segment of the market during the forecast period. Minisatellites are satellites weighing between 201-500 kg. These satellites are simpler and use similar technologies as larger satellites. SpaceX is the leading player in the minisatellite sector and is primarily employing these satellites for communication and broadband internet services.

    By Application Type

    Based on the application type, the market is segmented as earth observation, technology development, communications, and scientific. Communications are expected to remain the largest segment of the market during the forecast period. Rising demand for high-speed internet services coupled with growing digitalization across various verticals is augmenting the demand for smallsats, especially for communication purposes.

    Regional Analysis

    In terms of regions, North America is projected to remain the largest market for small satellites in the foreseeable future. The USA is the pioneer in the smallsats market. In the year 2020, new small satellite launches in the USA grew six-fold from that of the 2019-level, mainly driven by SpaceX’s Starlink constellation. Leading players, such as Planet Labs and SpaceX, are vertically integrated, having a stronghold from raw material procurement to the provision of internet services.

    Asia-Pacific is likely to recoup at an impressive rate during the forecast period. The strong growth of the region is mainly attributable to the growing emphasis on the production and launch of smallsats to cater to the need for broadband connectivity solutions, military support, and weather forecasting. China is the leading contributor in the region in the wake of strong expenditure in space exploration and defense activities.

    Small-Satellites-Market-Regional-Analysis

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    Market Scope and Segmentation

    Report Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    12

    No. of Figures & Tables

    >150

    Company Profiles

    9

     

    The market is segmented into the following categories. 

    By Type

    • Minisatellite
    • Microsatellite
    • Nanosatellite
    • Picosatellite

    By Application

    • Earth observation
    • Technology Development
    • Communications
    • Scientific
    • Others 

    By Operator Type

    • Commercial
    • Government
    • Civil
    • Military

    By Region

    • North America (Country Analysis: The USA, Canada)
    • Europe (Country Analysis: Germany, 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: Argentina and Others)

    Small-Satellites-Market-Segmentation

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    Key Players

    The market for small satellites is highly consolidated with the strong presence of key players such as SpaceX, Planet Labs, and OneWeb Satellites. These major players are focusing on production as well as the launch of smallsats to cater to the need for remote sensing and communication applications. SpaceX offers ride-share missions to other smallsat manufacturers, which further strengthens its position in the industry.

    The supply chain of this market comprises several nodes including raw material suppliers, component manufacturers, system integrators, satellite manufacturers, ground station operators, and end-users. The following are the key players in the market.

    • SpaceX
    • OneWeb Satellites
    • Planet Labs Inc.
    • Chang Guang Satellite Technology Co., Ltd.
    • Kepler Communications Inc.
    • Satellogic
    • Spire Global
    • Surrey Satellite Technology Ltd. (SSTL)
    • Swarm Technologies, Inc.

    The development of smallsats for communication, long-term agreements among the key players, and funding provided by VCs & government entities to smallsat start-up companies are the key trends shaping the market as well as competitive dynamics.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s small satellites market realities and future market possibilities for the forecast period of 2021 to 2026.

    After a continuous interest in our space electronics market report from the industry stakeholders, we have come up with another comprehensive research report on the small satellite market which is one of the most-talked topics in the industry currently.

    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 the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the 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 Stratview 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 the 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 the market dynamics and will enable strategic decision-making for the 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, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Small Satellites Market Features

    Market Size in 2026

    USD 8456.7 million

    Market Size in 2022

    USD 4657 million

    Market Growth (2021-2026)

    18.7% CAGR

    Base Year of Study

    2020

    Trend Period

    2016-2019

    Forecast Period

    2021-2026

    Segments Covered

     

    Type (Minisatellite, Microsatellite, Nanosatellite, and Picosatellite), 

    Application Type (Earth Observation, Technology Development, Communications, and Scientific), 

    Operator Type (Commercial, Government, Civil, and Military),

    Region (North America, Europe, Asia-Pacific, and the Rest of the World).

     

    Top Companies in 2021

     

    SpaceX

    OneWeb Satellites

    Planet Labs Inc.

    Chang Guang Satellite Technology Co., Ltd.

    Kepler Communications Inc.

    Satellogic

    Spire Global

    Surrey Satellite Technology Ltd. (SSTL)

    Swarm Technologies, Inc.

     

    Dominant Region

    North America is projected to remain the largest market. 

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The market is estimated to grow at an impressive CAGR of 18.7% by 2026.

    SpaceX, OneWeb Satellites, Planet Labs Inc., Swarm Technologies, Inc, Spire Global, Satellogic, Surrey Satellite Technology Ltd. (SSTL), Chang Guang Satellite Technology Co., Ltd., and Kepler Communications Inc.

    North America is the leading region in the market.

    The minisatellite and communications segment is expected to remain the most dominant in the market.

    The number of small satellites launched in the past few years has surged substantially owing to their low cost, easier launch vehicle integration, and technological developments.

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