Small Satellite Market Forecasts to 2028 – Global Analysis By Frequency (C-Band, Ka-Band, Ku-Band, L-Band, Q/V-Band), Subsystem (Satellite Bus, Solar Panels, Payloads, Satellite Antennas), Offering (Service, Software, Hardware), and By Geography

Small Satellite Market Forecasts to 2028 – Global Analysis By Frequency (C-Band, Ka-Band, Ku-Band, L-Band, Q/V-Band), Subsystem (Satellite Bus, Solar Panels, Payloads, Satellite Antennas), Offering (Service, Software, Hardware), and By Geography

According to Stratistics MRC, the Global Small Satellite Market is accounted for $3,853.50 million in 2021 and is expected to reach $12,643.99 million by 2028 growing at a CAGR of 18.5% during the forecast period. The small satellite also referred to as a miniaturized satellite or smallsat has a low mass and size. These satellites are low-cost alternatives that have allowed commercial enterprises, non-profit groups, and educational institutions to conduct missions in low-Earth orbit. These are designed to reduce the economic cost of launch vehicles and the costs associated with construction. Cheaper designs and ease of mass production are facilitated by the minimized design of small satellites. A major purpose of small satellites is to gather scientific data and radio relays. These satellites are more accessible to organizations of all sizes according to their budget.

Satellite market creates opportunities, due to the rise in demand for satellites in various application areas. The satellite market is expected to reach $63.116 billion in 2026 because of increasing concern about terrorism. According to Satellite Industry Association (SIA), A total of 1,713 commercial satellites were deployed during 2021, which increased by more than 40 percent compared to 2020, while the space industry conducted the most launches in history. By the end of 2021, a total of 4,852 satellites circled the earth, an increase of 179 percent over the past five years. As of January 2021, the Union of Concerned Scientists (UCS) has recorded 6,542 artificial satellites orbiting the earth, of which 3,372 satellites are active.

Market Dynamics:

Driver:

Rising demand for LEO based small satellites

Demand for inexpensive small satellites with augmented ability for enterprise data, energy sector, and governments in industrialized countries are rising. Hence, there is increase in demand for low-cost broadband among individual consumers in less urbanized countries and rural areas, which may not have access to the internet. These market expectations are driving investments in smallsat-based LEO constellations. Also, there is a high demand for low-cost, high-speed broadband in industrialized countries, and if all planned GEO HTS satellites and LEO constellations succeed, the supply could be much higher than the expected demand, which would drive the price per megabit down. Although there is high demand for low-cost, high-speed broadband in industrialized countries, if all planned GEO HTS satellites and LEO constellations succeed, the supply could be much higher than the expected demand, which would drive the price per megabit down to 3 terabits of bandwidth by 2025 for broadband access from GEO, MEO and LEO satellites; proposed LEO constellations collectively could deliver almost ten times as much.

Restraint:

Lack of dedicated smallsat launch vehicle

Recent options for smallsat launch are restricted to rideshares as secondary payloads on rockets launching large satellites or carrying cargo to the international space station. The piggyback launch has benefit of low cost, however it implies a defined orbit, and ultimately delays for the launch of the prime spacecraft. These options impose limitations in terms of incorporation and launch schedules, orbit destinations, and loss of suppleness regarding subsystems in the small satellite. The procedure of procuring launch is intricate enough for smallsat operators that companies such as Spaceflight Industries, ECM Space, TriSept, Tyvak, and innovative solutions in space have developed technology to safely include large numbers of smallsats as secondary payloads on large launchers. But there is lack of dedicated small satellite launch vehicles for only small payloads that would in principle provide relatively reliable, fast, and dedicated access to a variety of orbits and planes. The typical specific launch cost of these vehicles is often greater than their medium and intermediate lift counterparts and the payload may not use the full capability of the vehicle. The payload operator may thus not be able to economically justify the use of the launch vehicle. The competitive price, similar complexity as huge LVs, scaling down with profit reduction for LV manufacturers and export issues are the restraints which are needed to be overcome.

Opportunity:

The expansion of satellite network to provide internet access in area without broadband connectivity

The largest edge satellite internet has over other types of internets is ease of use. Once novel LEO satellite systems like TeleSat, Starlink, OneWeb and many other commercial companies systems, are put in place orbiting the Earth, clients will be able to access satellite services all around the world, even in out of the way places where internet service isn’t otherwise available. These efforts are being made by companies to capitalize on the opportunity to provide internet to those parts of the world where there is little infrastructure and connectivity. This is since while the global telecommunications industry has built a robust internet network comprising radio, fiber optic cables, and microwave towers for terrestrial communications, along with undersea cables, massive population across the globe remain unconnected. Presently, over 40% of the world’s population doesn’t have access to the internet. But building out cable infrastructure to every home in the world would cost billions and billions of dollars. Satellite internet connectivity is less expensive than laying millions of miles of fiber optic cable, and it’s ideally suited for delivering internet access to rural and hard to reach areas.

Threat:

Concern over space debris

The words “space debris” refers to the uncontrolled and unwanted fall onto Earth of no longer functional space vehicles or parts of any size. Since the beginning of human activities in space, the number of variously defined objects in orbit around the Earth has increased exponentially, and the trend is up now more than ever with the new wave of the so-called small satellites. National Aeronautics and Space Administration (NASA) (US) and European Space Agency (ESA) estimate in their webpages that there are over 150 million objects orbiting between the LEO up to 10,000 km from Earth’s surface and GEO, above this mark, for a total weight of more than 5000 tons. Small satellites may pose a threat to the space environment as they are often launched in densely populated orbits. This is because small satellites are subsidiary payloads that are piggybacked on launches dedicated to much larger and more expensive satellites. They are generally deployed near or with other large satellites. These large satellites are positioned in sun-synchronous orbits or geostationary transfer orbits, which have space debris. Nanosatellites and microsatellites lack the maneuverability required to move around in such orbits. Native radar signatures of these satellites are typically small and often below the threshold of perception for space surveillance sensors. Furthermore, space debris may prove to be a hazard for small satellites, which may, in turn, increase the amount of debris due to collision or system failure.

The Ku-band segment is expected to be the largest during the forecast period

The Ku-band segment is estimated to have a lucrative growth. The Ku-band radar frequency operates within a range between 10.7 GHz and 12.75 GHz. The Ku-band frequency spectrum is used for satellite communication. This band is primarily used for mapping. Ku-band antennas are economical and flexible means of obtaining a high-throughput as compared to C-band. Thus, Ku-band antennas are suitable for use over a wider range of data communication. In 2020, Orbsat Corp (US), a global provider of communication solutions for global connectivity via next-generation satellite technology, announced that its Global Telesat Communications (GTC) subsidiary expanded its initial global sales and distribution partnership with Kymeta (US) to include its entire line of unique Ku-band flat-panel satellite communication terminals, including the recently launched Kymeta u8 (2020)

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

The communication segment is anticipated to witness the fastest CAGR growth during the forecast period, owing to growing adoption of communication antennas in the government and commercial sectors. Small satellites are increasingly being adopted in modern communication technologies. The introduction of 5G and the development of miniature hardware systems are exploiting numerous opportunities in the field of satellite-enabled communication. Satellites provide different communication services such as data communication, broadcasting, and telecommunication. Satellite plays a vital role in providing cable and networking programming to laptops, cell phones, and personal digital assistants. A rise in R&D activities for communication-related missions is expected to offer enhanced quality communication systems with the help of highly sophisticated miniaturized on-board nano, micro, and mini subsystems, coupled with advanced mission-compatible ground-station technology.

Region with highest share:

North America is projected to hold the largest market share during the forecast period, due to increasing research and development activities by NASA, growing use of satellites for surveillance in telecommunication and defense sector, growing military spending for surveillance missions, increasing space exploration activities, and developed space research infrastructure. The US is a lucrative market for small satellite systems in the North American region. The US government is increasingly investing in advanced small satellite technologies to enhance the quality and effectiveness of satellite communication.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to rising investments in research and development activities, rising demand for satellites in India, China, and Japan, technological advancements, and presence of established players in countries such as India and China. The increasing demand for satellite data services in domains such as satellite-based network infrastructure and information technology-based services, due to increased per capita income in developing nations of the Asia-Pacific region such as China, India, and Vietnam, is expected to aid the small satellite market. With the growing emphasis on space research, India is expected to become a major player globally in small satellite solutions, as the Indian Space Research Organization (ISRO) diverts most of its commercial space-related activities to the industry and enhances focus on advanced research. The Government of India is also promoting initiatives to bring major private organizations in the space industry to collaborate and work together.

Key players in the market

Some of the key players profiled in the Small Satellite Market include Thales Group, Airbus SE, Northrop Grumman Corporation, L3Harris Technologies Inc. , Planet Labs Inc., Lockheed Martin Corporation, Space Exploration Technologies Corp. (SpaceX), Maxar Technologies Inc., Sierra Nevada Corporation, The Boeing Company, BAE Systems plc, QinetiQ Group plc, Raytheon Technologies Corporation, Magellan Aerospace, and Virgin Orbit.

Key Developments:

In January 2022, Virgin Orbit placed seven CubeSats for three customers into orbit on the third consecutive successful operational flight of its LauncherOne air-launch system. Two of the satellites were from SatRevolution, a Polish smallsat developer. One satellite was from Spire Global, which was developed with the Austrian Space Forum and Findus Venture GmbH to measure the orbital debris environment. The remaining four of the satellites came through the Defense Department’s Space Test Program.

In June 2021, SpaceX launched a Falcon 9 rocket and 88 small satellites from Cape Canaveral. By sending the rideshare payloads on a southerly track into a polar orbit and notching the eighth successful flight of a reusable booster that debuted exactly one year ago.

In February 2021, Lockheed Martin contracted ABL Space Systems, of California, a developer of low-cost launch vehicles and launch systems for the small satellite industry, to supply a rocket and associated launch services for the company’s first UK vertical satellite launch.

Frequencies Covered:
• C-Band
• High Frequency (HF)/Very High Frequency (VHF)/Ultra High Frequency (UHF) Band
• Ka-Band
• Ku-Band
• L-Band
• Q/V-Band
• S-Band
• X-Band
• Laser/Optical-Band

Mission Types Covered:
• Constellation Missions
• Installation Missions
• Replacement Missions

Orbits Covered:
• Low Earth Orbit (LEO) High Throughput Satellites
• Medium Earth Orbit (MEO) High Throughput Satellites
• Traditional Low Earth Orbit (LEO) and Medium Earth Orbit (MEO) Satellites
• Geostationary Earth Orbit (GEO)

Satellite Masses Covered:
• Microsatellite (10-100kg)
• Minisatellite (100-500kg)
• Nanosatellite (1-10kg)
• Cube Satellite
• Femtosatellite (Less Than 1 Kg)
• Picosatellite (Less Than 1 Kg)

Investor Types Covered:
• Crowdfunding
• Government/Foundation
• Public/Private
• Strategic/Private Equity
• Traditional Investment
• Venture Capital

Subsystems Covered:
• Satellite Bus
• Solar Panels
• Payloads
• Satellite Antennas

Offerings Covered:
• Service
• Software
• Hardware

Industries Covered:
• Ground Equipment
• Launch Vehicles
• Satellite Manufacturing
• Satellite Services

Applications Covered:
• Communication
• Earth Observation & Meteorology
• Internet of Things (IoT)/Machine to Machine (M2M)
• Mapping & Navigation
• Remote Sensing & Imaging
• Scientific Research & Exploration
• Space Observation
• Surveillance & National Security
• Military & Intelligence
• Technology Development
• Weather

End Users Covered:
• Commercial
• Government & Defense
• Civil
• Dual Use
• Non-Profit Organization

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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances