Small Satellite Market to Expand at 7.9% CAGR over 2023 to 2030; DOrbit Inks Contract with Patriot Infovention to Reinforce Industry Footing

The global small satellite market size stood at USD 3.23 billion in 2022. The market value is slated to rise from USD 3.46 billion in 2023 to USD 5.88 billion by 2030 at a CAGR of 7.9% during 2023-2030. The escalation is driven by an increase in product deployment in a range of applications such as earth observation, in-orbit inspection, surveillance, communication, and others. Additional factors propelling industry expansion comprise recent advancements in the private space economy and the launch of numerous projects such as Kuiper, OneWeb, and Starlink.

Fortune Business Insights™ presents this information in its report titled “Small Satellite Market Size, Share & COVID-19 Impact Analysis, By Component (Telemetry, Tracking, and Command, Power System, Propulsion System, Command & Data Handling, and Others), By Application (Communication, Navigation, Earth Observation, and Others), By Weight (Minisatellite, Microsatellite, Nanosatellite, and Picosatellite), By End-use (Civil, Military, and Commercial), and Regional Forecast, 2023– 2030”.

Decrease in Market Value Amid COVID-19 Pandemic Driven by Delay in Space Missions

The COVID-19 pandemic considerably impacted the market growth. A delay in space missions was experienced by numerous key space economies such as China, India, Russia, Japan, the U.S., and France. Besides a delay in missions, major space agencies also had to adopt budget reduction amid the coronavirus pandemic period.

DOrbit Enters into a Contract with Patriot Infovention to Strengthen Industry Foothold

In February 2023, space logistics company DOrbit inked a launch contract with Patriot Infovention. The latter is a Thai software company specialized in cyber security, data management, support and assistance, and government assistance services.

The contract covers the deployment and launch of LOGSATS, a 3U CubeSat. The satellite will showcase the first Thai space-based aviation monitoring system and IoT communications system of Thailand.

Industry Value to Rise Owing to Mass Satellite Production

The small satellite market growth is being propelled by the escalating focus toward relay satellites and cost reduction. Several private and public companies across the globe commenced assembly and satellite mass production lines, propelling market growth.

However, the market is likely to be hindered on account of limitations associated with the size and weight of these satellites. 

Industry Players Launch New Products to Secure Competitive Edge

Key small satellite companies are focused on the launch of various initiatives to maintain their industry position. These include merger agreements, the formation of alliances, acquisitions, and others. Some of the additional initiatives comprise an escalation in research activities and an increase in partnership agreements and collaborations.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917

Key Players Covered:

• Airbus S.A.S. (Netherlands)


• The Boeing Company (U.S.)


• Lockheed Martin Corporation (U.S.)


• Northrop Grumman Corporation (U.S.)


• Sierra Nevada Corporation (U.S.)


• ST Engineering (Singapore)


• Thales Group (France)


• SpaceX (U.S.)


• L3Harries Technologies (U.S.)

Notable Industry Development

February 2023 – Anuvu shared plans for deploying Telesat’s ground infrastructure. The company shared plans to launch the smallsat fleet from mid-2023.

Further Report Findings

• By geography, the market for small satellites has been studied across North America, Asia Pacific, Europe, and the rest of the world. The North America small satellite market share is slated to depict considerable expansion throughout the forecast period. The surge is driven by an escalation in an array of ongoing and upcoming projects.


• The Europe region is anticipated to hold a substantial share in the overall market revenue over the estimated period. The upsurge is due to an increase in military and earth observation applications in the region.


• Based on component, the market is subdivided into telemetry, tracking, and command; power system; propulsion system; command & data handling; and others. Of these, the propulsion system segment is estimated to lead the market over the study period.


• By weight, the market is categorized into minisatellite, microsatellite, nanosatellite, and picosatellite. Of these, the minisatellite segment is poised to exhibit a notable surge throughout the forecast period.


• On the basis of end-use, the market is classified into military, civil, and commercial. The military segment is slated to register considerable expansion over the analysis period. The rise is due to the advantage of increased fleet size associated with military satellites.

Table of Segmentation