The global small satellite market size was valued at USD 4.90 billion in 2021 and reached USD 5.60 billion in 2022. According to the report titled "Small Satellite Market, 2022-2029" by Fortune Business Insights™, the market is projected to reach a value of USD 12.02 billion by 2029, with a CAGR of 11.53% during the forecast period. The market growth is expected to be driven by the increasing adoption of 3D printing for satellite manufacturing and the expanding applications of small satellites across various sectors. These factors are anticipated to contribute to the progress of the market in the coming years, as highlighted in the report by Fortune Business Insights™.
List of Key Players Profiled in the Report:
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.)
L3Harris Technologies, Inc. (U.S.)
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917
Russia-Ukraine War Impact
Economic Sanctions Imposed by the U.S. and its Allies on the Russian Federation Negatively Affected the Industry
The economic sanctions imposed by the U.S. and its allies on the Russian Federation are expected to affect this industry’s growth. Furthermore, the war negatively affected the global industries leading to import and export flow disruptions. The dominance of Russia and Roscosmos, a quasi-civilian space agency in the commercial space, affected alternative launch service providers in Japan, India, Europe, and the U.S. These factors negatively affected the market during the war.
Segmentation : Small Satellite Industry
Type: Nano Satellite, Micro Satellite, Mini Satellite, Pico Satellite
Application: Earth Observation, Communication, Scientific Research, Technology Development, Others
End User: Government & Military, Commercial, Civil
Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Others
Region: North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Coverage
The report offers an in-depth analysis of the prominent segments and emerging trends within the market. It provides a comprehensive discussion on the factors driving and hindering market growth, including the impact of the COVID-19 pandemic. Furthermore, the report examines regional developments and explores the strategies implemented by key players in the market.
Competitive Landscape
Prominent Players Announce Novel Facilities to Expand Market Reach
Prominent companies operating in the market announce novel facilities to expand their market reach. For example, Boeing announced its novel high-throughput test facility, integration, and small satellite production in March 2022. This development was meant to enhance productivity and fasten delivery times. The production facility shall be powered by Millennium Space Systems, a Boeing subsidiary, and shall be housed in the largest satellite production facility globally. This strategy may expand the company’s market reach worldwide. Further, companies devise automated production techniques, research and development, mergers, acquisitions, and collaborations to enhance the market growth.
Key Industry Development
May 2022: Thales Alenia Space entered into a joint venture with Leonardo and Thales to complete tasks associated with the final integration of Orion’s European Service Module 4 essential systems.
The global small satellite market size was valued at USD 4.90 billion in 2021 and reached USD 5.60 billion in 2022. According to the report titled "Small Satellite Market, 2022-2029" by Fortune Business Insights™, the market is projected to reach a value of USD 12.02 billion by 2029, with a CAGR of 11.53% during the forecast period. The market growth is expected to be driven by the increasing adoption of 3D printing for satellite manufacturing and the expanding applications of small satellites across various sectors. These factors are anticipated to contribute to the progress of the market in the coming years, as highlighted in the report by Fortune Business Insights™.
List of Key Players Profiled in the Report:
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.)
L3Harris Technologies, Inc. (U.S.)
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917
Russia-Ukraine War Impact
Economic Sanctions Imposed by the U.S. and its Allies on the Russian Federation Negatively Affected the Industry
The economic sanctions imposed by the U.S. and its allies on the Russian Federation are expected to affect this industry’s growth. Furthermore, the war negatively affected the global industries leading to import and export flow disruptions. The dominance of Russia and Roscosmos, a quasi-civilian space agency in the commercial space, affected alternative launch service providers in Japan, India, Europe, and the U.S. These factors negatively affected the market during the war.
Segmentation : Small Satellite Industry
Type: Nano Satellite, Micro Satellite, Mini Satellite, Pico Satellite
Application: Earth Observation, Communication, Scientific Research, Technology Development, Others
End User: Government & Military, Commercial, Civil
Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Others
Region: North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Coverage
The report offers an in-depth analysis of the prominent segments and emerging trends within the market. It provides a comprehensive discussion on the factors driving and hindering market growth, including the impact of the COVID-19 pandemic. Furthermore, the report examines regional developments and explores the strategies implemented by key players in the market.
Competitive Landscape
Prominent Players Announce Novel Facilities to Expand Market Reach
Prominent companies operating in the market announce novel facilities to expand their market reach. For example, Boeing announced its novel high-throughput test facility, integration, and small satellite production in March 2022. This development was meant to enhance productivity and fasten delivery times. The production facility shall be powered by Millennium Space Systems, a Boeing subsidiary, and shall be housed in the largest satellite production facility globally. This strategy may expand the company’s market reach worldwide. Further, companies devise automated production techniques, research and development, mergers, acquisitions, and collaborations to enhance the market growth.
Key Industry Development
May 2022: Thales Alenia Space entered into a joint venture with Leonardo and Thales to complete tasks associated with the final integration of Orion’s European Service Module 4 essential systems.
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