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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Small Satellite Market Size
The global small satellite market size attained a value of USD 4.91 billion in 2023. The market is further expected to grow at a CAGR of 15.80% between 2024 and 2032 to reach a value of USD 18.40 billion by 2032.
Key Trends in the Market
A small satellite, also known as a smallsat, is defined as a type of satellite which weighs less than 1,000 kilograms. The size of this satellite is compact and lightweight, which makes it relatively easy to manufacture. Small satellites are high speed with increased efficiency which makes it ideal for human exploration and small-scale scientific missions in space.
- The global small satellite market growth is being propelled by the rising technological innovations including the integration of small satellite technology with artificial intelligence, giving rise to superior quality of data and imagery. This superior quality data is catering to the demands of various end use industries.
- The increasing application of small satellites in the commercial sector, to provide data and real-time location access to industries such as agriculture, forestry, disaster management, and wildlife, among others, are expected to push the small satellite market growth in the forecast period.
- Small satellites are crucial in the military sector as they provide battlefield information which improves the decision making of the commanders. In this regard, the increasing military expenditure to encourage the technological innovations and satellite technology, is further fuelling the market growth.
Small Satellite Market Report Snapshots
Small Satellite Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global market value for small satellites in 2023 was USD 4.91 billion.
The market is estimated to grow at a CAGR of 15.80% in the forecast period of between 2024 and 2032 to reach USD 18.40 billion by 2032.
The increasing application of small satellites in the commercial sector to provide data and real-time location access to industries such as agriculture, forestry, disaster management, and wildlife, among others, and increasing dependence of military and government sector on satellite communication are the major drivers of the market.
The key trends in the small satellite market include the rising technological innovations integrating small satellite technology with artificial intelligence which are giving rise to superior quality of data and imagery.
Minisatellite, microsatellite, and nanosatellite, among others, are the different types of small satellites.
Earth observation and remote sensing, satellite communication, science and exploration, mapping and navigation, and space observation, among others, are the significant applications of small satellites.
Small satellites are also known as smallsats.
The primary end uses of small satellites in the market are commercial, and military and government, among others.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, are the major regional markets.
GomSpace A/S, Thales Group, L3Harris Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman Systems Corporation, and Planet Labs PBC, among others, are the key market players, according to the report.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124