Small Satellite Market - Forecast(2021 - 2026)

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Small Satellite Market Overview

The Small Satellite Market size is analyzed to grow at a CAGR of 18.2% during the forecast 2021-2026 to reach $8.2 billion. Small satellites, also termed as Smallsats are a class of flight-proven spacecraft, designed to meet high reliability mission requirements. The increasing popularity of these mini-satellites and nano-satellites is mostly due to their lightweight, versatile and inexpensive designs, integrated with the latest software and hardware improvements, which fuel the growth of the Small Satellite Industry. Hence, the affordable solution has broadened the diverse mission-specific standards across various industry verticals, including, asset tracking, security & defense, IoT, and other space programs. Furthermore, the rise in demands for satellite imagery, low-cost high-speed broadband, along with the investments in fundamental research in CubeSats are some of the factors that drive the growth of the Small Satellite Market.

Small Satellite Market Report Coverage

The report: “Small Satellite Industry Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Small Satellite Industry.
By Offering: Hardware (Satellite Antennas, Solar Panels, Terminals, Support Equipment and Others), Software and Service.
By Type: Mini-Satellite, Micro-Satellite, Nano-Satellite, Pico-Satellite, Femto-Satellite and Other.
By Industry: Satellite Services, Satellite Manufacturing, Launch Vehicles and Ground Equipment.
By Mission: Constellation Missions, Installation Missions and Replacement Missions.
By Application: IoT/M2M, Communication, Earth Observation & Meteorology, Military & Intelligence, Scientific Research & Exploration, Weather and Other
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea, Australia and Others), South America(Brazil, Argentina and others)and RoW (Middle east and Africa).

Key Takeaways

  • North America is estimated to hold the largest market share of 45.7% in 2020, owing to the eminent requirement for responsive defense forces, massive investments for breakthrough custom-designed satellites, along with rigorous commercial services demand for satellite bandwidth and network solution.
  • The M2M Satellite Communication technologies are majorly driven by the potential launches of cloud-based solutions is estimated to drive the market.
  • The promising requirements to seek reliable connectivity between the land and sea operations, along with VSAT connectivity for on-board security, drive the market growth.

Small Satellite Market Value Share, By Region 2020 (%)

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Small Satellite Market Segment Analysis – By Type

By Type, the Small Satellite Market is segmented into Mini-Satellite, Micro-Satellite, Nano-Satellite, Pico-Satellite, Femto-Satellite and Other. The Mini-Satellite is estimated to hold the highest share of 33.5% in 2020, owing to the advantageous features, including miniaturized design, travel at high speeds and remote sensing technology. In addition, affordable development solutions of Nano-Satellite technology makes them a suitable option to deliver superior solutions for communications. In February 2021, Fleet Space Technologies, an Australian nanosatellite company is set to launch its fifth nanosatellite, Centauri 3. The Centauri 3 is Fleet Space’s fifth and most advanced Commercial Nanosatellite, designed to power up a global network of connected devices deployed worldwide. Increasingly, these miniaturized spacecraft provide lucrative opportunities to most business enterprises to accelerate the growth of the Small Satellite Market.

Small Satellite Market Segment Analysis – By Application

By Application, Small Satellite Market is segmented into IoT/M2M, Communication, Earth Observation & Meteorology, Military & Intelligence, Scientific Research & Exploration, Weather and other. The communication segment held the major share of 22.2% in 2020 in the Small Satellite Market, due to the successful introduction of game-changing software for the satellite communication industry along with new business opportunities to expand remote location operation and real-time asset monitoring. In March 2020, a leading provider of next generation content connectivity solutions, NOVELSAT announced a comprehensive solution for mission critical satellite communications. The solution by Novelsat is designed to deliver highest levels of transmission security, resilience and robustness, with a comprehensive wide-ranging security suit, including, transmission security (TRANSEC), communication security (COMSEC), low probability of detection (LPD) and low probability of interception (LPI). Therefore, the growing demand for optimum levels of security and protection for business operations and other mission critical communications of across defense, security and government is estimated to drive the Small Satellite Market.

Small Satellite Market Segment Analysis – By Geography

North America is estimated to hold the largest market share of 45.7% in 2020, along with Europe, owing to the eminent requirement for responsive defense forces, massive investments for breakthrough custom-designed satellites, along with rigorous commercial services demand for satellite bandwidth and network solution. The industry is poised to continue its rapid growth as SpaceX and others put up constellations of thousands of satellites intended to serve areas without access to broadband. In order to deliver beta testers download speeds, and robust internet coverage from space, worldwide, in May 2019, Elon Musk's SpaceX launched another 60 Starlink internet satellites into Earth’s orbit. The proposal of SpaceX's satellite internet was initiated in 2018, with the successful launch of the two Starlink test craft, known as TinTinA and TinTinB, designed to transfer huge amounts of information rapidly in comparison to fiber-optic cable. Thus, the Small Satellite industry is poised to grow as large scale space organizations are offering “space as a service” to enable business enterprises with accessibility to data, specific to business requirements. Simultaneously, the market of Small Satellite is witnessing potential growth in Asia Pacific region, owing to the digitalization across industries and vast majority of demonstrative space debris clearance service. In March 2021, Astroscale, a Japan-UK based company launched a mission aimed at removal of debris from Earth's orbit. With Elsa-d, a small satellite under the "End-of-Life Services" offerings by Astroscale, the mission was developed for a space debris removal system. Therefore, the significant intended areas to serve by the lower-cost satellite technologies and surging demand for Earth observation satellites in these regions are estimated to drive the Small Satellite Market.

Small Satellite Market Drivers

Popularity of M2M Satellite Communication

The M2M Satellite Communication technologies are majorly driven by the potential launches of cloud-based solutions, and growing demand from various end-users to expand their business reach globally, are estimated to drive the Small Satellite Market. In addition, rugged, superior and cost-effective Satellite Terminals and telematics devices are becoming a part of the present-day comprehensive fleet management solution, which also boost the market growth. In December 2020, the leading GPS Tracking Systems provider, Rewire Security launched GPS & Telematics software for fleets. The latest software by Rewire enables enterprise owners to generate the location of vehicles in real-time, monitor fleet driver behaviour, observe driver route history and other GPS & Telematics software features. Based on the increasing needs of visibility across the transportation sectors, in October 2020, ORBCOMM, a global provider of Internet of Things (IoT) solutions, launched ST 2100, a state-of-the-art satellite communications device that enables solution providers for seamless Satellite connectivity to IOT applications, and also several other targeted verticals, such as fleet management and utility. Thus, the latest versatile Communication device launches and power-efficient platforms, such as Satellite Antenna for maximum reliability and security drive the growth of the Small Satellite Market.

Potential demand for Maritime Satellite Communication solution

The promising requirements to seek enhanced and reliable connectivity between the land and sea operations, along with VSAT connectivity for on-board security and surveillance of shipping industry influence the demand of Maritime Satellite Communication platforms, thereby drive the growth of the Small Satellite Market. The technology innovations across maritime sectors are expanding due to the introduction of gyro-stabilized ground terminals, Minisatellite platforms and multi-frequency dish antennas to reduce the time lag during data transfer. In April 2019, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, ZTE, announced the collaboration with Zhejiang Branch of China Mobile to launch “Heweitong”, a marine broadband satellite solution. The Heweitong offers seamless extension of the mobile network to the ocean, and mitigate other issues, such as high cost, poor coverage and slow data rate. Therefore, the growing emergence of new marine communication with ubiquitous connection for exceptional service is estimated to drive the Small Satellite Market.

Small Satellite Market Challenges

Compatible Issue

The Small Satellites are designed to deliver advantageous services and indubitably, there are several successful launches around the globe and other possible space missions that eventually supported the mass production of platforms such as the CubeSat for upgraded communications role. However, small satellites are not compatible with every kind of operation due to being launched in lower orbits and also, tend to have a shorter lifespan. The design lasts for a year as it gets orbital decay due to the other orbital elements in space. Moreover, the available space is very limited, which is a major concern along with other mentioned design flaws, which hinder the growth of the Small Satellite Market.

Small Satellite Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Small Satellite Market. The Small Satellite top 10 companies include Airbus SE, BAE Systems plc, Dauria Aerospace, L3Harris Technologies, Inc., Lockheed Martin, Magellan Aerospace, Maxar Technologies Inc., Northrop Grumman, ORBCOMM Inc., Rocket Lab, Park Aerospace Corp., Sierra Nevada Corporation, Aerospace Corporation, Space Flight Laboratory and many more.

Acquisitions/Technology Launches/Partnerships

  • In April 2021, the Norwegian Space Agency announced the successful launch of the NorSat-3 maritime tracking microsatellite built by Space Flight Laboratory (SFL), a premier microspace organization and provider of low-cost microsatellites and nanosatellites, in Toronto. The NorSat-3 maritime tracking is designed for space-based maritime traffic monitoring.
  • In April 2020, the Defense Advanced Research Projects Agency, DARPA awarded Lockheed Martin a $5.8 million contract for the Blackjack program, a satellite integration operation. The Blackjack is a project of DARPA to deploy a constellation of 20 satellites in low Earth orbit by the year 2022 to generate global high-speed communications. 
  • In March 2020, Rocket Lab, a private American aerospace manufacturer and small satellite launch service provider signed an agreement to acquire Sinclair Interplanetary, a Toronto-based satellite hardware company. The acquisition is developed to deliver reliable and flexible satellite and launch solutions.

Related Reports

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1. Small Satellite Market Overview
    1.1 Definitions and Scope
2. Small Satellite Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Application
    2.3 Key trends segmented by Geography
3. Small Satellite Market – Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Small Satellite Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
    4.2 Ease of Doing Business Index
    4.3 Case Studies
    4.4 Customer Analysis
5. Small Satellite Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Small Satellite Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Small Satellite Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
8. Small Satellite Market – By Application (Market Size -$Million/Billion)
    8.1 IoT/M2M
    8.2 Earth Observation and Meteorology
    8.3 Communication
    8.4 Military and Intelligence
    8.5 Scientific Research and Exploration
    8.6 Weather
    8.7 Others
9. Small Satellite Market – By Offering (Market Size -$Million/Billion)
    9.1 Hardware
        9.1.1 Antennas
        9.1.2 Solar Panels
        9.1.3 Terminals
        9.1.4 Support Equipment
        9.1.5 Others
    9.2 Software
    9.3 Services
10. Small Satellite Market – By Industry (Market Size -$Million/Billion)
    10.1 Satellite Services
    10.2 Launch Vehicles
    10.3 Ground Equipment
    10.4 Satellite Manufacturing
11. Small Satellite Market – By Type (Market Size -$Million/Billion)
    11.1 Mini-Satellite
    11.2 Micro-Satellite
    11.3 Nano-Satellite
    11.4 Pico-Satellite
    11.5 Femto-Satellite
    11.6 Others
12. Small Satellite Market – By Mission (Market Size -$Million/Billion)
    12.1 Constellation Mission
    12.2 Installation Mission
    12.3 Replacement Mission
13. Small Satellite Market - By Geography (Market Size -$Million/Billion)
    13.1 North America
        13.1.1 U.S
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 Germany
        13.2.2 France
        13.2.3 UK
        13.2.4 Italy
        13.2.5 Spain
        13.2.6 Russia
        13.2.7 Netherlands
        13.2.8 Others
    13.3 APAC
        13.3.1 China
        13.3.2 Japan
        13.3.3 South Korea
        13.3.4 India
        13.3.5 Australia
        13.3.6 Indonesia
        13.3.7 Malaysia
        13.3.8 Others
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Chile
        13.4.4 Colombia
        13.4.5 Others
    13.5 RoW
        13.5.1 Middle East
        13.5.2 Africa
14. Small Satellite Market - Market Entropy
    14.1 New product launches
    14.2 M&A's, collaborations, JVs and partnerships
15. Small Satellite Market – Industry Competitive Landscape (Premium)
    15.1 Market Share – Global
    15.2 Market Share by Region
    15.3 Market Share By Application
16. Small Satellite Market – Key Company List by Country Premium (Premium)
17. Small Satellite Market - Company Analysis
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10

LIST OF TABLES

1.Global MARKET SEGMENTATION Market 2019-2024 ($M)
1.1 End User Market 2019-2024 ($M) - Global Industry Research
1.1.1 Civil Market 2019-2024 ($M)
1.1.2 Commercial Market 2019-2024 ($M)
1.1.3 Military Market 2019-2024 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
2.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2019-2024 (Volume/Units)
3.1 End User Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 Civil Market 2019-2024 (Volume/Units)
3.1.2 Commercial Market 2019-2024 (Volume/Units)
3.1.3 Military Market 2019-2024 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2019-2024 (Volume/Units)
4.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2019-2024 ($M)
5.1 End User Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Civil Market 2019-2024 ($M)
5.1.2 Commercial Market 2019-2024 ($M)
5.1.3 Military Market 2019-2024 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2019-2024 ($M)
7.1 End User Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Civil Market 2019-2024 ($M)
7.1.2 Commercial Market 2019-2024 ($M)
7.1.3 Military Market 2019-2024 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
8.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2019-2024 ($M)
9.1 End User Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Civil Market 2019-2024 ($M)
9.1.2 Commercial Market 2019-2024 ($M)
9.1.3 Military Market 2019-2024 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
10.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2019-2024 ($M)
11.1 End User Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Civil Market 2019-2024 ($M)
11.1.2 Commercial Market 2019-2024 ($M)
11.1.3 Military Market 2019-2024 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
12.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2019-2024 ($M)
13.1 End User Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Civil Market 2019-2024 ($M)
13.1.2 Commercial Market 2019-2024 ($M)
13.1.3 Military Market 2019-2024 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
14.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Small Satellite Market Revenue, 2019-2024 ($M)
2.Canada Small Satellite Market Revenue, 2019-2024 ($M)
3.Mexico Small Satellite Market Revenue, 2019-2024 ($M)
4.Brazil Small Satellite Market Revenue, 2019-2024 ($M)
5.Argentina Small Satellite Market Revenue, 2019-2024 ($M)
6.Peru Small Satellite Market Revenue, 2019-2024 ($M)
7.Colombia Small Satellite Market Revenue, 2019-2024 ($M)
8.Chile Small Satellite Market Revenue, 2019-2024 ($M)
9.Rest of South America Small Satellite Market Revenue, 2019-2024 ($M)
10.UK Small Satellite Market Revenue, 2019-2024 ($M)
11.Germany Small Satellite Market Revenue, 2019-2024 ($M)
12.France Small Satellite Market Revenue, 2019-2024 ($M)
13.Italy Small Satellite Market Revenue, 2019-2024 ($M)
14.Spain Small Satellite Market Revenue, 2019-2024 ($M)
15.Rest of Europe Small Satellite Market Revenue, 2019-2024 ($M)
16.China Small Satellite Market Revenue, 2019-2024 ($M)
17.India Small Satellite Market Revenue, 2019-2024 ($M)
18.Japan Small Satellite Market Revenue, 2019-2024 ($M)
19.South Korea Small Satellite Market Revenue, 2019-2024 ($M)
20.South Africa Small Satellite Market Revenue, 2019-2024 ($M)
21.North America Small Satellite By Application
22.South America Small Satellite By Application
23.Europe Small Satellite By Application
24.APAC Small Satellite By Application
25.MENA Small Satellite By Application