Vikas Chauhan
by on May 15, 2024

IMARC Group, a leading market research company, has recently releases report titled “Small Satellite Market Report by Component (Payloads and Structures, Electric Power System, Solar Panels and Antenna System, Propulsion System, and Others), Type (Mini Satellite, Micro Satellite, Nano Satellite, and Others), Frequency (L-Band, S-Band, C-Band, X-Band, Ku-Band, Ka-Band, Q/V-Band, HF/VHF/UHF-Band, and Others), Application (Communication, Earth Observation and Remote Sensing, Science and Exploration, Mapping and Navigation, Space Observation, and Others), End User (Commercial, Academic, Government and Military, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the global small satellite market.

How Big Is the Small Satellite Market?

The global small satellite market size reached US$ 4.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.

Industry Overview of Small Satellite

A small satellite, also known as a minisatellite or nanosatellite, is a class of spacecraft characterized by its compact size and reduced mass compared to traditional satellites. It is cost-effective and comes in different form factors, including CubeSats, microsatellites, and picosatellites. It is equipped with sophisticated technologies, such as miniature sensors, cameras, communication systems, and propulsion capabilities, enabling them to perform an array of tasks like Earth observation, communications, scientific research, and even interplanetary missions.

For an in-depth analysis, you can refer sample copy of the report:

What are the growth prospects and trends in the small satellite industry?

At present, the increasing need for cost-effective satellite solutions represents one of the key factors supporting the growth of the market. Traditional large-scale satellites involve substantial investment, making them less accessible to small companies and startups. In contrast, small satellites offer a more budget-friendly option, allowing businesses to enter the space market with reduced financial barriers.

Furthermore, rapid advancements in miniaturization and electronics are leading to enhanced capabilities of small satellites, enabling them to perform complex tasks once reserved for larger counterparts. Moreover, the growing demand for Earth observation and remote sensing applications is offering a favorable market outlook.

Besides this, small satellites equipped with high-resolution imaging sensors are widely used for monitoring environmental changes, agricultural activities, disaster response, and urban planning, which is bolstering the growth of the market.

Leading Companies Operating in the Global Small Satellite Industry:

  • AAC Clyde Space
  • Airbus SE
  • Ball Corporation
  • Blue Canyon Technologies (Raytheon Technologies Corporation)
  • Exolaunch Gmbh
  • GomSpace
  • L3Harris Technologies Inc.
  • Lockheed Martin Corporation
  • Millennium Space Systems Inc. (The Boeing Company)
  • Northrop Grumman Corporation
  • Spire Global Inc.
  • The Aerospace Corporation

Small Satellite Market Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Component:

  • Payloads and Structures
  • Electric Power System
  • Solar Panels and Antenna System
  • Propulsion System
  • Others

Breakup by Type:

  • Mini Satellite
  • Micro Satellite
  • Nano Satellite
  • Others

Breakup by Frequency:

  • L-Band
  • S-Band
  • C-Band
  • X-Band
  • Ku-Band
  • Ka-Band
  • Q/V-Band
  • HF/VHF/UHF-Band
  • Others

Breakup by Application:

  • Communication
  • Earth Observation and Remote Sensing
  • Science and Exploration
  • Mapping and Navigation
  • Space Observation
  • Others

Breakup by End User:

  • Commercial
  • Academic
  • Government and Military
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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