Cubesat Market Forecasts to 2028 – Global Analysis By Size (25U to 1U, 1U to 3U, 3U to 6U, 6U to 12U and 12U and Above), Subsystem (Command and Data Handling, Propulsion Systems and Other Subsystems), Application (Space Observation, Earth Observation and

Cubesat Market Forecasts to 2028 – Global Analysis By Size (25U to 1U, 1U to 3U, 3U to 6U, 6U to 12U and 12U and Above), Subsystem (Command and Data Handling, Propulsion Systems and Other Subsystems), Application (Space Observation, Earth Observation and Traffic Monitoring and Other Applications), End User (Non-profit Organizations, Commercial and Other End Users) and Geography

According to Stratistics MRC, the Global CubeSat Market is accounted for $302.96 million in 2022 and is expected to reach $1024.29 million by 2028 growing at a CAGR of 22.51% during the forecast period. Small satellites known as ""CubeSat"" have a volume of around one quart and are cubic in shape. They are roughly four inches long. Only expeditions to planets in low Earth orbit and beyond use these tiny satellites. They can be launched into orbit on the back of a heavier payload, which makes them more affordable and fuel-efficient. On pre-planned missions, cube satellites are launched as supplemental payloads. They discover uses for communications, signal monitoring (SIGINT), remote sensing, localization, logistics, and doing scientific research and technology demonstrations in space.

According to the China Aerospace Science and Technology Corporation (CASC), about 4,000 satellites are expected to be developed and launched by the country in the next five to ten years. According to SIPRI, total global military spending increased by 0.7 percent in real terms in 2021, reaching USD 2.1 trillion.

Market Dynamics:

Driver:

Smaller and lighter than traditional satellites to favour market growth

The document that details the characteristics of the nanosatellite class known as CubeSats is the CubeSat Design Specification (CSD), sometimes known colloquially as the CubeSat standard. Standard measurements are used to create CubeSats, which are 10 centimetres by 10 centimetres by 10 centimetres in size. Each unit is often built in the shape of a 1U, 2U, 3U, 6U, 12U, or other size configuration and weighs less than 1.33 kilogrammes. Since they were first introduced, CubeSats have gained enormous appeal due to their assistance in overcoming the obstacles of researching space. Additionally, a CubeSat can be created and launched into orbit based on the requirements, adding very little to the overall expenditures compared to missions for traditional satellites.

Restraint:

CubeSat payload capacity to hinder market growth

CubeSats are low-cost alternatives that are being launched into space more often for commercial and scientific purposes. Since CubeSats are built more quickly and inexpensively than traditional satellites, mission disaggregation is made possible and deployable structures and intricate systems are used less frequently. One of the main challenges to the variety of missions that Cubesats are capable of performing is their capacity to carry payloads. Due to their diminutive size, CubeSats are forced to adhere to rigorous volume limits for their propulsion, payload, and other subsystems.

Opportunity:

Technological advancements

Modern satellites are being designed for new uses including space mining and trash clearance, while CubeSat capabilities and usefulness are growing as a result of developments in electronics and communications technology. A number of private corporations have already started operations to harvest minerals, energy sources, and water that are present in space. The most cutting-edge CubeSats are made to dissolve as soon as their mission is finished and hit the Earth's atmosphere, preventing them from adding to the build-up of space junk. For instance, the Remove Debris project seeks to carry out crucial active debris removal (ADR) technological testing in order to identify the best techniques for clearing space debris. During the forecast period, it is predicted that the use of CubeSats in delivering new solutions would drive the global CubeSats market.

Threat:

Lack of expertise

The inability to launch CubeSats as well as the aerospace organisations' ignorance about the launch of CubeSats is preventing the market from expanding throughout the projected period. The growth of the market in the upcoming years is also being hampered by the rising rules imposed by the organisations. But in the projection period, the arrival of new players and satellite deployers, which are enabling affordable access to space, is driving up demand for CubeSats.

Covid-19 Impact

The COVID has a negligible effect on the market for CubeSats and is anticipated to stay in place through the second quarter of 2021. The COVID-19 outbreak has compelled governments all around the world to prioritise healthcare. As a result, the nations are cutting back on funding for their space programmes to help pay for the pandemic response and recovery efforts. Additionally, the nationwide shutdown compelled CubeSat's manufacturing plants to close or delay their full opening. For instance, CubeSat missions like SpaceBee, DeMi, TechEdSat-10, Gundam, TDO-2, and the constellations of Flock-4e and Flock-4v. The cheap cost yet effective operations of CubeSats and the increasing involvement of private actors in the market are responsible for this constant growth in CubeSat missions.

The 1U to 3U segment is expected to be the largest during the forecast period

The 1U to 3U segment is estimated to have a lucrative growth, due to the need for greater volume and aperture, 1U to 3U CubeSats are quickly overtaking other types of satellites as the top option for usage in space missions by a number of manufacturers. A 3U CubeSat has more than three times the power and more pointing and communication capability than a 1U CubeSat. A 3U has a larger useable volume due to the size of standard mechanisms, connectors, and other components, and more room is available to install panels and antennas with higher packing factors. It is projected that CubeSats will play an important part in the widespread deployment of Internet of Things-based services. Several actors in this scenario are launching swarms of 0.25U satellites into space.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the fastest CAGR growth during the forecast period, as satellite components' weights have fallen, their costs have decreased, and they have become more standardised, commercial usage of CubeSats has dramatically increased in recent years. Small satellites are used in this sector in the fields of agriculture, forestry, energy, media & entertainment, civil engineering, and archaeology. High-definition Earth images, communication services, and space-based Internet are all made available through small satellites. A US-based company called Planet Labs offers high-resolution photos to commercial customers using its 36 tiny satellites in orbit. Through the use of small satellites, a number of businesses, including Digital Globe, O3B, and Skybox, offer services like telephony, space-based Internet, and real-time satellite photography.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the presence of a contemporary infrastructure for carrying out space activities and the highest application of commercial satellite imagery in the region's numerous industries. Growing acceptance of the advantages of satellite-based surveillance opens up profitable growth prospects for the North American market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the increasing use of satellites for environmental monitoring and the rising demand for small satellites are expected to support the growth of the CubeSat service industry in Europe. Additionally, there are a lot of potential for the CubeSat service industry in the European region because to the huge manufacturing of several small satellites by government space initiatives in Europe, such the Copernicus Program.

Key players in the market

Some of the key players profiled in the CubeSat Market include AAC Clyde Space, Planet Labs Inc., Innovative Solutions In Space B.V., CU Aerospace, L.L.C., GomSpace, Tyvak Nano-Satellite Systems, Inc., Endurosat, Pumpkin Space Systems, Surrey Satellite Technology Limited, Space Inventor, NanoAvionika, Interorbital Systems, L3Harris Technologies Inc, GomSpace and Clyde Space.

Key Developments:

In December 2018, Harris Corporation launched and communicated with its first small satellite from India’s Polar Satellite Launch Vehicle. This showcased the company’s ability to provide complete end-to-end mission solutions for the fast-growing CubeSat market.

In October 2018, AAC Clyde, the parent company of clyde space, received a follow-up contract from kepler Communications to use 6U machines to offer satellite communication services for the Internet of Things (IoT) applications and data backhaul applications.

In August 2018, Gomspace A/S, a subsidiary of GomSpace AD, received a contract from Innovation Fund Denmark to develop network management technologies for the smooth operation and management of large satellite constellations.

Sizes Covered:
• 25U to 1U
• 1U to 3U
• 3U to 6U
• 6U to 12U
• 12U and Above

Subsystems Covered:
• Command and Data Handling
• Propulsion Systems
• Payloads
• Electrical Power Systems
• Structures
• Attitude Determination and Control Systems
• Solar Panels & Antenna Systems
• Other Subsystems

Applications Covered:
• Space Observation
• Earth Observation and Traffic Monitoring
• Science, Technology, and Education
• Communication
• Meteorology
• Other Applications

End Users Covered:
• Non-profit Organizations
• Commercial
• Government and Military
• Academic
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements