Small Satellite Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Small satellite is also referred as miniaturized satellite or small sat, usually under 500kg mass. Small satellites are designed for a specific missions such as geological monitoring or communications and are often laced with a single instrument. According to Coherent Market Insights’ analysis, around 6,200 new small satellite are expected to be launched during 2018 – 2028.

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Market Dynamics:

Increasing adoption of small satellites in earth observatory for several aspects such as weather forecast and agricultural or waste land management is expected to boost the market growth. Small sat also plays a key role in disaster management. For instance, in November 2018, Indian Space Research Organization (ISRO) launched HySIS— the earth observation satellite from its Satish Dhawan Space Center. The satellite is tasked to offer data related to agriculture, forestry, soil survey, geology, coastal zone studies, inland water studies, environmental monitoring, and pollution detection from industries.

Earth observatory segment is expected to witness considerable growth in the market over the forecast period:

Earth observatory small satellites are used to monitoring civil engineering projects, especially in rural or remote areas. Therefore, increasing development of spectral imaging technologies is expected to boost demand for small satellites over the forecast period. For instance, in 2014, Boeing received its first commercial order for the 502 Phoenix small satellite from HySpecIQ — a high resolution hyperspectral imaging information provider based in Washington D.C. These satellites will carry the company’s first high-resolution hyperspectral payload that is capable of providing high-fidelity spectral imaging by earth observatory.

North America is expected to hold dominant position in the small satellite market over the forecast period:

Among Regions, North America held dominant position in the global small satellite market, accounting for 55% market share by value in 2017. The region is expected to retain its dominance in the market over the forecast period, owing to presence of major players such as National Aeronautics Space Association (NASA), Space Exploration Technologies Corp., and The Boeing Company.

Increasing demand for weather forecast software such as AccuWeather, The Weather Channel, Yahoo Weather, and Google Weather is also expected to boost the market growth. The increase in demand is mainly attributed to growing air and sea transport services and weather monitoring services for disaster management. For instance, in December 2018 HawkEye 360, Inc. announced a successful launch of Pathfinder Mission cluster of three formation- flying small satellites. The satellites are tasked to collectively locate and sense radio emissions beamed from the ground, especially from the vehicles that are to be tracked.

Global Key Players:

Key players operating in the global small satellite market include, Harris Corporation Airbus Defense and Space, Boeing, Geooptics Inc., Lockheed Martin Corporation, Millennium Space Systems Inc., Northrop Grumman Corporation, OHB AG, Oneweb Ltd, Planet Labs Inc., Sierra Nevada Corporation, Singapore Technologies Engineering Limited, Space Exploration Technologies Corp. (Space X), Surrey Satellite Technology Ltd., and Thales Alenia Space.

Detailed Segmentation:

By satellite size:

Minisatellite

Microsatellite

Nanosatellite

Picosatellite

Femtosatellite

By application type:

Earth Observation

Telecommunication

Scientific Research

Technology Demonstration

By end user:

Civil

Defense

Commercial

Government

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