Global Small Satellites Market is projected to reach at a market value of US$360.5 Billion by 2030: Visiongain Research Inc

Visiongain has recently published a 714-page report on Global small satellites market report from 2020-2030 : Forecasts by Mission Type (Constellation Missions, Installation Missions, Replacement Missions) Investor Type (Venture Capital, Public/Private, Crowdfunding, Strategic/Private Equity, Traditional Investment, Government/Foundation) by Type (NanoSatellite, MicroSatellite, MiniSatellite, PicoSatellite, FemtoSatellite), by Application (IoT/M2M, Earth Observation & Meteorology, Military & Intelligence, Scientific Research & Exploration, Weather, Other Applications) by Industry (Satellite Services, Satellite Manufacturing, Launch Vehicles, Ground Equipment) Including Analysis of Leading Companies

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Global small satellites market was valued at US$87.9 billion in 2019 and is projected to reach at a market value of US$360.5 billion by 2030. North America market is expected to grow at a CAGR of 13.7% during the forecast period 2020-2030. The market is estimated to grow at a CAGR of 13.5% in the first half period 2020-2025 and is projected to grow at CAGR of 13.9% in the other half period 2025-2030.

Small satellites (smallsats) are an emerging class of spacecraft that incorporates recent software and hardware improvements, most notably ones derived from the IT and electronics industries, and benefits from the resulting high capability feasible in small packages. There is no universally accepted definition of a smallsat; various groups and reports have classified smallsats according to their mass, volume, cost, capabilities, or some combination thereof. In this report, smallsats are defined as satellites with masses lower than 200 kg (with some exceptions). Small satellites include CubeSats, special types of cuboid-shaped smallsats that weigh between 1–10 kg and are created in units of a 10 cm × 10 cm × 10 cm cube. Compared with traditional satellites, smallsats typically have shorter development cycles, smaller development teams, and, consequently, lower cost, both for the development and for the launch of the satellites.

Market Driving Factors

Low-Cost Manufacturing and Assembly Techniques/Greater Availability of High-Performance and High-Reliability COTS Components

Typical communications satellites may cost on the order of hundreds of millions of dollars to develop today. In contrast, OneWeb is expecting to bring the price to build one of its satellites below $500,000.118 Other companies (e.g., Berlin Space Technologies, Germany) are aiming to bring the price of their (smaller) smallsats as low as $250,000. These companies’ estimates are credible as they are leveraging advances in low-cost manufacturing technologies, such as additive manufacturing, increasing the use of automation and robotics for satellite integration, and using commercial off-the-shelf (COTS) components. Use of these approaches could lead to three favourable outcomes affecting the success of large constellations and smallsats in general.

Demand for LEO-Based Services Broadband

Demand for low-cost, high-speed broadband with increased capacity for enterprise data (retail, banking), energy sector (oil, gas, mining), and government in industrialized countries is growing, as is demand for low-cost broadband among individual consumers in less developed countries and rural areas who may not have access to the internet. These market expectations are driving investment in smallsat-based LEO constellations. Estimates for broadband demand vary, and some experts predict that satellite broadband capacity demand would grow at a compound annual growth rate of 29% through 2024. OneWeb (UK), Boeing (U.S.) and SpaceX(U.S.) have announced their intentions to fly broadband constellations.

Increasing Demand for Imagery and Analytics

Because smallsats offer imagery at lower cost than traditional large satellites, disproportionate growth in the demand for satellite imagery is expected to come from non-governmental actors that would use images and image-based analytics for agriculture, economic forecasting, resource management, urban planning, disaster monitoring, retail, maritime, and other applications.

Key Takeaways

• Asia and Europe are strong players in the small satellite field, noted by stakeholders as having important markets and significant technological development

• Asia in particular is noted as a growing region in the field, with new start-ups and increasing availability of launch.

• Government is the primary source of funding in most emerging countries; although there is limited foreign private (venture capital) funding, such funding has not proliferated into the new space industry as widely as has occurred within the United States.

• Countries with a longer space heritage, such as Russia, China, and potentially India, are often perceived as having not fully leveraged their satellite experience for small satellites, with government space programs having placed more emphasis on large satellites. However, this attitude is changing, particularly in China.

• South American countries have demonstrated interest in small satellites given a growing number of governments sponsored small satellite missions; Academic institutions are key in developing technologies.

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Leading Companies Profiled

1. Airbus SE

2. Park Aerospace Corp.

3. L3Harris Technologies, Inc.

4. Magellan Aerospace

5. Lockheed Martin

6. Maxar Technologies Inc.

7. Northrop Grumman

8. ORBCOMM Inc.

9. The Boeing Company

10. Thales Group

11. Dauria Aerospace

12. ISS Reshetnev

13. BAE Systems plc

14. Sierra Nevada Corporation

15. QinetiQ Group plc

16. OHB SE

What does the future hold for the Small Satellite market?

Visiongain’s new study supplies the answer to you and provides it to you NOW.

In this new, 714-page report, you will receive 500+ tables and charts as well as independent, impartial, and objective analysis.

By ordering and reading this report today, you will be given:

• A concise and comprehensive analysis of the Small Satellite market up to 2030.

• An understanding of not only the financial prospects of the Small Satellite industry but also the growth potential of several submarkets – including different application and end-user types.

• An informed forecast of the sales of 25 individual countries – Australia, Brazil, Canada, China, France, Germany, India, Israel, Japan, Mexico, Russia, Saudi Arabia, South Korea, Spain, United Arab Emirates, United Kingdom and United States.

• A description of the main drivers and restraints that are affecting the development of the Small Satellite market.

• Profiles of the key players in the industry as well as up-to-date information on their latest agreements and CSI product developments.

Who should read this report?

• Senior Executives

• Business Development Managers

• Marketing Directors

• Consultants

• Chief Executive Officers

• Governments, agencies &organisations actively working or interested in the Small Satellite industry will also find significant value in our research.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with this invaluable business intelligence.

To access the data contained in this document please email contactus@visiongain.com

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About Visiongain

Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.

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