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Small Satellite Market Size, Share & COVID-19 Impact Analysis, By Type (Mini, Micro, Nano), Component (Structures, Payload, Electric Power System, Solar Panel and Antennas System, Propulsion System, Others), Application (Communication, Navigation, Earth Observation, Technology Development, Others), End-User (Commercial, Civil, Military, Government), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101917



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The global small satellite market size was USD 3.07 billion in 2019 and is projected to reach USD 9.75 billion by 2027, exhibiting a CAGR of 18.99% during the forecast period.

A satellite is an object that is designed and developed for specific applications such as navigation, communication, earth observation, and others. The satellites are launched into various orbits such as low earth orbit (LEO), medium earth orbit (MEO), and geostationary earth orbit (GEO) with the help of propelling rockets. The design, size, payload capacity, and altitude of a satellite depends on the purpose of the deployment. Satellites are primarily used in applications such as voice communications & television broadcasting, remote sensing, weather monitoring, internet applications, and others. There were 389 small satellites launched in 2019 due to the increasing number of space exploration missions.

Space Industry is Facing Serious Challenges due to the COVID-19 Pandemic

The ongoing COVID-19 pandemic has severely affected the global space industry. Due to the rapid spread of the coronavirus, several businesses in the small satellite market faced unprecedented challenges due to stagnancy in production and delayed satellite programs. The Guiana Space Centre suspended Soyuz launch activities, which were planned in mid-March. Samara Space Centre, the manufacturer of Soyuz rockets, kept production of rockets on hold due to this pandemic that would hamper the launch programs. The company has built 52 Soyuz rockets, but 12 rockets are waiting for launch from the spaceport. The U.S. Space Force delayed the launch of Falcon 9, GPS satellite by two months due to COVID-19. Thus, disruptions in production lines, supply chains, and existing contracts majorly impacted the space industry.


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 Introduction of Concepts Such as Robotics and AI Will Lead to Wider Product Adoption

The integration of artificial intelligence (AI) has brought about major transformations in the small satellite industry. Telemetry based automatic diagnostics technology used to identify future problems. The information collected through space helps to carry out analysis of space and download of specific data required for the mission.

In addition to that, AI-enabled automatic learning systems and intelligent ground stations optimized the control of CubeSats constellations. Increased data processing, transmission capacity, and laser communication systems will transform the space sector in the upcoming years.


Surging Integration of Internet of Things (IoT) in Manufacturing Sector to Favor Growth

The internet of things (IoT) provides connectivity in industrial applications for production and machine control through satellites. IoT-based devices exchange real-time data with the processing units that improve production and machine control operations. In the manufacturing process, IoT devices use satellite connectivity for data transmission between IoT systems and components. Thus, satellite connectivity plays a vital role in the manufacturing sector and process automation, which will further propel the growth of the market.

Introduction of 5G Networks to Boost Growth

The emergence of 5G service enhanced user experience as it offers new applications and services with higher speeds. It improves the reliability and performance of a communication network. 5G reduces the latency as compared to 4G and significantly increases the data rates. Satellite communication and high-altitude platform systems (HAPS) delivered high data rates to terrestrial wireless networks in urban and suburban areas. Furthermore, 5G would drive the evolution of IoT and smart cities by the deployment of power sensors in rural areas and cities. It has numerous applications in healthcare, energy, power sector, smart grids, and others that drive the growth of the small satellite market.


Stringent Government Laws Associated with Space Launch Programs to Hamper Growth

The space industry faces several restrictions from international and national government agencies. As per the International Space Law, every state has to register their space objects with the international registry to notify and track space objects.

On an international level, there are five United Nations Treaties on outer space, which are the Outer Space Treaty, Rescue Agreement, Liability Convention, Registration Convention, and Moon Agreement. Furthermore, the activities carried out by non-government entities require authorization and supervision from the state.


By Type Analysis

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Nanosatellite Segment Dominated the Market in 2019

Based on type, the market is segmented into a mini-satellite, nanosatellite, and microsatellite. The nanosatellite segment held the highest share of the market in 2019. The growth of this segment is attributable to increasing research and development activities and the rising number of space laboratories for upcoming missions to asteroids, the moon, and mars. The mini-satellite segment is estimated to show significant growth during the forecast period due to increasing use for earth observation. The microsatellite segment will witness a moderate growth owing to the rising use of CubeSat for space research and scientific applications.

By Component Analysis

Structure Segment is Anticipated to Grow at a Faster Pace during 2020-2027

 On the basis of components, the market is classified as payload, structures, solar panel and antenna systems, electric power systems, propulsion systems, and others. The structure segment will witness significant growth during 2020-2027. The growth is attributed to the increasing demand for the satellite for different applications such as earth observation, communication, navigation, and others. The growing demand for satellites is due to the extension of satellite services in remote locations that drives the growth of the structure segment.

The payload segment is projected to show significant growth during the forecast period due to the increasing product use in numerous applications such as navigation, communication, earth observation, weather monitoring, and others. Electric power systems are used to power the satellite systems. The solar panel and antenna segment will witness moderate growth as these are used to power the satellite subsystems that include navigation systems, communication systems, and others.

By Application Analysis

Increasing Use of Satellites for Navigation and Communication to Propel These Segments

 Based on the application, the market is segmented into communication, navigation, earth observation, technology development, and others. The communication segment is predicted to rise at the highest CAGR from 2020 through 2027. The growth is attributed to the increasing adoption of communication antennas in the government and commercial sectors. Satellites provide different communication services such as data communications, broadcasting, and telecommunication.

Satellite plays a vital role in providing cable and network programming to laptops, cell phones, and personal digital assistants. The Earth observation segment is anticipated to show significant growth as it is used for weather monitoring and water monitoring. Navigation will witness remarkable growth owing to the increasing use of GPS for maps, airplane navigation, and assist in farming.

By End User Analysis

Rising Implementation of Satellites to Drive Growth of Commercial and Military Segments

Based on end-users, the market is segmented into civil, commercial, military, and government. The commercial segment holds the highest market share in 2019, owing to the increasing number of internet services and mobile users. The increasing implementation of satellites for enemy surveillance drives the growth of the market. Satellites are used in numerous commercial applications including navigation, communication, and weather forecasting.

The military segment will showcase significant growth due to the rising use of satellites in surveillance missions. The government segment will witness remarkable growth due to increasing satellite development programs from government space agencies.


North America Small Satellite Market Size, 2019 (USD billion)

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The market size in North America stood at USD 1.91 billion in 2019. At present, the region is holding the highest share in the small satellite market. Increasing research and development activities by NASA and growing military spending for surveillance missions will drive the market across the region. Adoption of SKYWAN technology by NASA and triband antenna allows real-time transmission, which is the best transport per application. In July 2020, the CubeSat launch initiative deployed 109th CubeSat from the international space station.

Asia Pacific registered a remarkable growth rate in the market due to the rising demand for satellites in India, China, and Japan. In the year 2020-2021, the Indian Space Research Organization (ISRO) is planning to launch several satellites that include three communication satellites, ten earth observation satellites, three space science satellites, and two navigation satellites. Europe is expected to exhibit a considerable growth rate during the forecast period owing to the adoption of internet-based services and IoT for numerous applications. The rest of the world registers significant growth during the forecast period due to increasing internet-based services in the Middle East and African region.


 Key Players to Focus on Business Expansion through New Product Launches & Signing Contracts

Satellite manufacturers are majorly focusing on business expansion through contracts with space companies and government agencies. In February 2020, Airbus S.A.S unveiled a new portfolio of earth observation satellites that includes S250 optical and S250 radar. In 2019, Airbus S.A.S signed a contract with the Defense Advanced Research Projects Agency (DARPA) to develop a small constellation satellite bus for the Blackjack program. In July 2020, Airbus developed Prometheus, a next-generation software-defined radio (SDR) payload that was launched on Faraday-1 CubeSat from New Zealand.



  •  July 2020–L3Harris Technologies, Inc. has launched the first satellite of remote sensing constellation for the U.S. Air Force. The constellation of small satellites provides imagery to the ground military operators.

  • June 2020 - the U.S. National Reconnaissance Office (NRO) has signed a launch agreement with Rocket Lab for two back-to-back dedicated small satellite missions aboard an Electron launch vehicle.


An Infographic Representation of Small Satellite Market

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The small satellite market research report provides in-depth technical analysis of the market and majorly focuses on key aspects such as leading market players, COVID-19 effect on the market, leading technological trends, systems, and research ideology of the product. Besides this, the report offers insights into the market trends and highlights key industry developments & trends. In addition to the aforesaid factors, the report provides multiple factors that will contribute towards the growth of the market during the forecast period.

Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD billion)


By Type

  • Mini Satellite

  • Micro Satellite

  • Nano Satellite

By Component

  • Structures

  • Payload

  • Solar Panel and Antenna Systems

  • Propulsion Systems

  • Electric Power Systems

  • Others

By Application

  • Navigation

  • Communication

  • Earth Observation

  • Technology Development

  • Others

By End-User

  • Commercial

  • Government

  • Military

  • Civil

By Geography

  • North America (The U.S. and Canada)

  • Europe (The U.K., Germany, France, Russia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia- Pacific)

  • Rest of the World (South America, and the Middle East & Africa)

Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 3.07 billion in 2019 and is projected to reach USD 9.75 billion by 2027.

In 2019, the North America market value stood at USD 1.91 billion.

Registering a CAGR of 18.99%, the market will exhibit steady growth in the forecast period (2020-2027).

The structures segment is expected to lead the market during the forecast period.

The implementation of the Internet of Things (IoT) in the manufacturing sector is the key factor driving the market.

Airbus S.A.S., The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, SpaceX, and L3Harris Technologies, Inc. are the major players in this global market.

North America dominated the market share in terms of share in 2019.

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Small Satellite Market Size, Share and Global Industry Trend Forecast till 2026
  • Oct, 2020
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