Satellites Market Size, Share, By Type (Small Satellite (Nano Satellites, Microsatellites, Minisatellites), Medium Satellites, & Large Satellites), By Orbit Type (LEO, MEO, GEO, HEO), By Component (Payload, Structure, Power System, Propulsion System, Thermal Control System (ADCS, telecommunication & data handling system)), By Application (Communication, Earth Observation & Remote Sensing, Navigation & Positioning, Scientific Research (Space Exploration, Technology Testing, Surveillance, & Meterology)), By End User (Commercial & Government & Defense), & Regional Forecast, 2026-2034

The global satellites market size was valued at USD 20.59 billion in 2025. The market is projected to grow from USD 23.17 billion in 2026 to USD 59.58 billion by 2034, exhibiting a CAGR of 12.53% during the forecast period.

The global satellites market is expanding fast, as the FAA reports that there are 1,700 active satellites over the U.S. According to findings from the National Aeronautics and Space Administration, it is mainly demand for earth observations and communication that is causing this growth. The industry is likely to develop further as modern technology is improving the way small satellites are produced. The growth in the space economy is being supported in part by government investments, for example NASA’s 85 satellite launches in 2023.

Satellites Market Driver

Private Sector and Government Backing Fuel Surge in Small Satellite Launches

Small satellites are the main type in the market, with commercial units reaching 2,781 in 2024, as per the Federal Aviation Administration (2023). The Federal Communications Commission reported that in 2023, 39 private companies owned satellite licenses in the U.S. The National Aeronautics and Space Administration’s transport of 85 satellites this year strengthens the government’s commitment to helping develop small satellites for earth observation and research.

Satellites Market Restraint

Regulatory and Funding Barriers Limit Satellite Market Expansion

Only 39 satellite operation licenses have been granted by the FCC to private U.S. companies which shows many obstacles to getting the permits. The National Aeronautics and Space Administration reports that the cost of developing satellites is a serious obstacle, especially for big projects that rely greatly on government money. With the Canadian government investing in just 7 satellite projects (Natural Resources Canada, 2023), it makes clear that resources in this sector are restricted.

Satellites Market Opportunity

Government Initiatives Propel Satellite Expansion Across Asia Pacific

Indian Space Research Organisation (2023) reports that last year, 125 satellites were launched from India, showing a clear progress in these markets. China’s National Space Administration states that the country has 500 satellites in operation and 120 focus on observing the earth. The region has shown much potential for growth thanks to the efforts of governments and technological progress in satellite systems.

Segmentation

Key Insights

The report covers the following key insights:

• Key Industry Trends
• Overview: Regulatory Scenario across Key Countries
• Key Industry Developments
• Growth Opportunities in Emerging Markets

Analysis By Type

By Type, the Satellites Market is divided into Small Satellite, Nano Satellites, Microsatellites, Minisatellites, Medium Satellites, Large Satellites. 

Small Satellites made up 2,781 of the 3,036 commercial launches tracked by the Federal Aviation Administration in 2024. The National Aeronautics and Space Administration found that the cost and range of uses for satellites are key reasons for their growth in earth observation.

Analysis By Orbit Type

By Orbit Type, the Satellites Market is divided into LEO, MEO, GEO, HEO & Others. 

The Federal Communications Commission (FCC) reported in 2023 that U.S. LEO satellites number 1,200. Low-Latency communication and earth observation are main reasons why LEO is expected to grow, reports by the European Space Agency suggest.

Analysis By Component

By Component, the Satellites Market is divided into Payload, Structure, Power System, Propulsion System, Thermal Control System & Others (ADCS, telecommunication and data handling system and other. 

Data from the National Aeronautics and Space Administration shows that Payload systems are the main area of growth due to the rising need for high-tech imaging and communication hardware. A review of reports provided by the Federal Aviation Administration reveals that in 2023, 400 U.S. earth observation satellites have complex payloads.

Analysis By Application

By Application, the Satellites Market is divided into Communication, Earth Observation & Remote Sensing, Navigation & Positioning, Scientific Research & Others (space exploration, technology testing, surveillance, meterology). 

According to the Federal Communications Commission (FCC), Communication has more operational U.S. satellites than any other group, with 1,200. The Indian Space Research Organisation reports that Earth Observation is expanding rapidly and 125 Indian satellites were launched last year. Surge in demand in Navigation & Positioning is supported by 32 network stations across the U.S.

Analysis By End User

By End User, the Satellites Market is divided into Commercial, Government & Defense. 

The Federal Aviation Administration (2023) shows that Commercial takes the lead with 640 U.S. satellite launches. The Federal Communications Commission has reported that it is the 39 licensed private operators that are the main source of this growth.

Regional Analysis

Based on geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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As the Federal Aviation Administration (2023) reports, North America takes the lead with 1,700 active U.S. satellites in the market. There are 39 private operators in the region and private launch activity includes 640 successful satellite launches (by the Federal Communications Commission in 2023). The United States’ government continues to help, as NASA sent up 85 satellites during 2023. There are 350 geostationary satellites over the U.S. and it also manages 32 GPS satellites, confirming its top spot in the market (Federal Communications Commission, 2023; GPS.gov, 2023).

Esri, based on European Space Agency (2023) data, estimates there are 1,200 satellites currently in operation in Europe: France alone has 135 satellites focused on observing the Earth (Centre National d'Études Spatiales, 2023). In 2023, the ESA sent up 17 satellites, with private businesses contributing another 46 from France. European GPS covers the whole continent by operating 24 satellites for positioning needs and the region displays increasing use of environmental monitoring tools (European GNSS Agency, 2023). Europe’s technological skills are further shown by Germany’s many communication satellites (German Aerospace Center, 2023).

Many satellites are in operation across the Asia Pacific region, as China now has 500 of them and India has launched 125 (China National Space Administration, 2023; Indian Space Research Organisation, 2023). The Japan Aerospace Exploration Agency says that Japan methods 68 communication satellites, while South Korea has 11 navigation satellites under the Ministry of Science and ICT (2023). Expansion in earth observation and communication technologies across the region is mainly thanks to government space efforts and the increasing participation of private companies.

Key Players Covered

The report includes the profiles of the following key players:

• SpaceX (U.S.)
• Lockheed Martin Corporation (U.S.)
• Boeing (U.S.)
• Airbus Defense & Space (Europe)
• Northrop Grumman (U.S.)
• Thales Alenia Space (Europe)
• L3Harris Technologies (U.S.)
• Maxar Technologies (U.S.)
• MDA (Canada)
• Planet Labs PBC (U.S.)
• Raytheon Technologies Corporation (U.S.)

Key Industry Developments

• In May 2024, Albedo, a satellite imagery startup, raised a Series B funding round led by General Innovation Capital to develop very low-Earth-orbit satellites.
• In April 2024, Indian startup Pixxel launched three hyperspectral imaging satellites, marking a milestone for India’s private space sector.