Small Satellite Market

Small Satellite Market by Type (Nanosatellite, Microsatellite, Minisatellite), End User (Civil, Defense, Commercial), Application (Earth Observation & Meteorology, Communication, Scientific Research & Exploration), and Region - Global Forecast to 2022

Exhaustive secondary research was undertaken to collect information on the Small Satellite Market, its adjacent markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both, demand and supply side analyses were employed to estimate the overall size of the market. Thereafter, market breakdown and data triangulation procedures were used to estimate the market sizes of different segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Statista, National Aeronautics and Space Administration (NASA), Indian Space Research Organisation (ISRO), Gunter’s Space Page, Boeing Outlook, Airbus Outlook, Factiva, Bloomberg, BusinessWeek, SEC filings, annual reports, press releases & investor presentations of companies, certified publications, and articles by recognized authors were referred to for identifying and collecting information on the small satellite market.

Primary Research

The small satellite market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and integratory and regulatory organizations in its supply chain. The demand side of this market is characterized by various end users such as commercial organizations and military forces of different countries. The supply side is characterized by technological advancements in the small satellites and development of satellite subsystems. The following is the breakdown of the primary respondents that were interviewed to obtain qualitative and quantitative information about the market.

Small Satellite Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both, top-down and bottom-up approaches were used to estimate and validate the total size of the small satellite market. These methods were also used extensively to estimate the size of various segments and subsegments of the market. The research methodology used to estimate the market size included the following:

  • Key players in the industry and market were identified through extensive secondary research of their product matrix and geographical presence and developments undertaken by them.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall size of the small satellite market using the market size estimation processes explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from demand as well as supply sides of the small satellite market.

Report Objectives

  • To define, describe, and forecast the small satellite market on the basis of type, end user, application, and region
  • To analyze the demand & supply side indicators influencing the market and provide a factor analysis for the same
  • To understand the market structure by identifying high-growth subsegments of the small satellite market
  • To provide an in-depth market intelligence regarding market dynamics, such as drivers, restraints, opportunities, and industry-specific challenges that influence the growth of the market
  • To forecast the revenue of market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
  • To analyze technological advancements and new product launches in the small satellite market for stakeholders by identifying key market trends
  • To provide a detailed competitive landscape of the market, along with market share analysis
  • To identify financial positions, key products, and key developments of leading players in the small satellite market
  • To analyze micromarkets1 with respect to their individual growth trends, future prospects, and their contribution to the overall market
  • To provide comprehensive analysis of business and corporate strategies adopted by the key market players
  • To strategically profile key market players and comprehensively analyze their core competencies2

Scope of the Report

Report Metric

Details

Market size available for years

2015–2022

Base year considered

2016

Forecast period

2017–2022

Forecast monetary unit

Value (USD)

Segments covered

Type, Application, End User and Region

Regions covered

North America, Europe, Asia-Pacific, and RoW.

Companies covered

Boeing (US), Airbus Defense and Space (France), OneWeb (US), Sierra Nevada Corporation (US), Planet Labs (US), Space Exploration Technologies Corporation (US), and Surrey Satellite Technology (UK), among others, are the major players in the small satellite market

This research report categorizes the small satellite market based on type, application, end user and region.

Based on satellite type the Small Satellite Market has been segmented as follows:

  • Nanosatellite
  • Microsatellite
  • Minisatellite

Based on End User, the Small Satellite Market has been segmented as follows:

  • Civil
  • Defense
  • Commercial

Based on Application, the Small Satellite Market has been segmented as follows:

  • Earth Observation & Monitoring
  • Communication
  • Scientific Research & Exploration
  • Surveillance & Security
  • Mapping & Navigation

Based on Region, the Small Satellite Market has been segmented as follows:

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies.

Product Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiles of additional market players (up to 5)

The small satellite market is projected to grow from USD 2.92 Billion in 2017 to USD 7.53 Billion by 2022, at a CAGR of 20.83% during the forecast period. Factors such as increasing focus on reducing mission costs, satellite miniaturization, and increasing demand for earth observation related applications are expected to fuel the growth of the market.

Based on type, the nanosatellite segment of the small satellite market is projected to grow at the highest rate during the forecast period. Due to their low mass and small size, several satellites can be launched simultaneously from a single vehicle launcher. These satellites are designed for specific tasks, such as communication, earth observation, and space exploration, and together, in a group, perform a mission.

Based on end user, the commercial segment of the small satellite market is projected to grow at the highest CAGR during the forecast period, as there has been an increase in R&D activities to develop advanced small satellites to cater to commercial services, such broadband connectivity.

Based on application, the earth observation & meteorology segment of the small satellite market is projected to grow at the highest CAGR during the forecast period due to increase in demand for technologically advanced small satellites for commercial, defense, and civil use.

Small Satellite Market

North America led the small satellite market in 2016, owing to an increase in demand for small satellites from NASA and the Department of Defense (U.S.), and private sectors, such as research organizations and telecommunication. However, the market in the European region is expected to grow at the highest CAGR during the forecast period due to their high demand to use in battlefield missions, earth observation, and scientific exploration activities performed by various government and private organization.

Factors such as lack of dedicated launch vehicles, scarce intellectual assets, and design related limitations may act as restraints for the growth of the small satellite market.

Key players profiled in the small satellite market report include SpaceX (U.S.), Sierra Nevada Corporation (U.S.), ST Engineering Limited (Singapore), Surrey Satellite technologies Ltd. (U.K.), Planet Labs (U.S.), Airbus Defense and space (Netherland), Northrop Grumman Corporation (U.S.), GeoOptics Inc. (U.S.), and Oneweb Ltd. (U.S.), among others. Contracts was among the key strategies adopted by the leading players to sustain their position in the market. This strategy was adopted by companies to increase their reach, and enhance their revenues and service offerings.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Study Limitations
    1.6 Market Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Demand and Supply Side Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Indicators
                    2.2.2.1 Rising Applicability of Big Data
           2.2.3 Supply-Side Indicators
                    2.2.3.1 Miniaturization of Electronics and Subcomponents Used in Small Satellites
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown & Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Increasing Investments in the Small Satellite Market to Offer Several Untapped and Unexplored Opportunities
    4.2 Europe: Small Satellite Market, By Type
    4.3 Small Satellite Market, By Type
    4.4 Market, By End User
    4.5 Market, By Application
    4.6 Market, By Region

5 Market Overview (Page No. - 38)
    5.1 Introduction
           5.1.1 Market Evolution
    5.2 Market Segmentation
           5.2.1 By Type
           5.2.2 By End User
           5.2.3 By Application
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Satellite Miniaturization
                    5.3.1.2 Increasing Focus on Reducing Mission Cost
                    5.3.1.3 Huge Investments By Venture Companies in the Small Satellite Market
           5.3.2 Restraints
                    5.3.2.1 Programmatic and Scientific Risks Involved in the Production of Small Satellites
                    5.3.2.2 Lack of Dedicated Launch Vehicles to Launch Small Satellites Into Space
                    5.3.2.3 Design-Related Limitations for Small Satellites
           5.3.3 Opportunities
                    5.3.3.1 High Data Rate Communication
                    5.3.3.2 Proposed Development of Satellite Networks to Provide Internet Access to Areas Without Broadband Connectivity
           5.3.4 Challenges
                    5.3.4.1 Radio Spectrum Availability Issues
                    5.3.4.2 Scarce Intellectual Asset
                    5.3.4.3 Increasing Number of Proposed Small Satellites May Lead to Regulatory Challenges

6 Industry Trends (Page No. - 46)
    6.1 Introduction
    6.2 Supply Chain
    6.3 Technology Trends
           6.3.1 Use of Small Satellites to Provide Enhanced Space Imagery
           6.3.2 Development of Small Satellite Constellations to Enhance Communication
           6.3.3 Development of Dedicated Launch Vehicles for Small Satellites
           6.3.4 Development of Small Satellites Using Additive Manufacturing Process
           6.3.5 Increased Demand for Hosted Payloads
    6.4 Emerging Trends
           6.4.1 Technological Advancements in Earth Observation Services
           6.4.2 Space Debris Removal
           6.4.3 Technical Evolution in Pico & Femto Satellites
    6.5 Venture Capital Funding
           6.5.1 Innovation & Patent Registrations

7 Small Satellite Market, By Type (Page No. - 52)
    7.1 Introduction
    7.2 Nanosatellite
    7.3 Microsatellite
    7.4 Minisatellite

8 Small Satellite Market, By Application (Page No. - 56)
    8.1 Introduction
    8.2 Earth Observation & Meteorology
    8.3 Communication
    8.4 Scientific Research & Exploration
    8.5 Surveillance & Security
    8.6 Mapping & Navigation

9 Small Satellite Market, By End User (Page No. - 62)
    9.1 Introduction
    9.2 Civil
    9.3 Commercial
    9.4 Defense

10 Small Satellite Market, By Region (Page No. - 66)
     10.1 Introduction
     10.2 North America
             10.2.1 By Type
             10.2.2 By Application
             10.2.3 By End User
             10.2.4 By Country
                        10.2.4.1 U.S.
                                     10.2.4.1.1 By Type
                                     10.2.4.1.2 By End User
                        10.2.4.2 Canada
                                     10.2.4.2.1 By Type
                                     10.2.4.2.2 By End User
     10.3 Europe
             10.3.1 By Type
             10.3.2 By Application
             10.3.3 By End User
             10.3.4 By Country
                        10.3.4.1 Russia
                                     10.3.4.1.1 By Type
                                     10.3.4.1.2 By End User
                        10.3.4.2 France
                                     10.3.4.2.1 By Type
                                     10.3.4.2.2 By End User
                        10.3.4.3 U.K.
                                     10.3.4.3.1 By Type
                                     10.3.4.3.2 By End User
                        10.3.4.4 Germany
                                     10.3.4.4.1 By Type
                                     10.3.4.4.2 By End User
                        10.3.4.5 Italy
                                     10.3.4.5.1 By Type
                                     10.3.4.5.2 By End User
                        10.3.4.6 Rest of Europe
                                     10.3.4.6.1 By Type
                                     10.3.4.6.2 By End User
     10.4 Asia-Pacific
             10.4.1 By Type
             10.4.2 By Application
             10.4.3 By End User
             10.4.4 By Country
                        10.4.4.1 China
                                     10.4.4.1.1 By Type
                                     10.4.4.1.2 By End User
                        10.4.4.2 Japan
                                     10.4.4.2.1 By Type
                                     10.4.4.2.2 By End User
                        10.4.4.3 India
                                     10.4.4.3.1 By Type
                                     10.4.4.3.2 By End User
                        10.4.4.4 South Korea
                                     10.4.4.4.1 By Type
                                     10.4.4.4.2 By End User
                        10.4.4.5 Rest of Asia-Pacific
                                     10.4.4.5.1 By Type
                                     10.4.4.5.2 By End User
     10.5 Rest of the World (RoW)
             10.5.1 By Type
             10.5.2 By Application
             10.5.3 By End User
             10.5.4 By Region
                        10.5.4.1 The Middle East
                                     10.5.4.1.1 By Type
                                     10.5.4.1.2 By End User
                        10.5.4.2 South America
                                     10.5.4.2.1 By Type
                                     10.5.4.2.2 By End User
                        10.5.4.3 Africa
                                     10.5.4.3.1 By Type
                                     10.5.4.3.2 By End User

11 Competitive Landscape (Page No. - 96)
     11.1 Vendor Dive Overview
             11.1.1 Vanguards
             11.1.2 Innovators
             11.1.3 Dynamic
             11.1.4 Emerging
     11.2 Competitive Benchmarking
             11.2.1 Business Strategies Adopted By Major Players in the Market
             11.2.2 Analysis of Product Portfolio of Major Players in the Market
     11.3 Market Share Analysis of Small Satellite Market

12 Company Profile (Page No. - 101)
(Overview, Financials, Products & Services, Strategy, and Developments)*
     12.1 Sierra Nevada Corporation
     12.2 Singapore Technologies Engineering Limited
     12.3 Surrey Satellite Technology Ltd.
     12.4 Planet Labs Inc.
     12.5 Airbus Defense and Space
     12.6 Northrop Grumman Corporation
     12.7 Space Exploration Technologies Corp. (Space X)
     12.8 Boeing
     12.9 Thales Alenia Space
     12.10 Millennium Space Systems Inc.
     12.11 Lockheed Martin Corporation
     12.12 Geooptics Inc.
     12.13 Oneweb Ltd.
     12.14 OHB AG
     12.15 Harris Corporation
     12.16 Spire Global Inc.
     12.17 Aerospace Corporation
     12.18 Orbital ATK
     12.19 Space Systems Loral

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 156)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Introducing RT: Real Time Market Intelligence
     13.4 Available Customization
     13.5 Related Reports
     13.6 Author Details


List of Tables (68 Tables)

Table 1 Market, By Type
Table 2 Market, By End User
Table 3 Market, By Application
Table 4 VC Funding Companies in the Satellite Industry (2015-2016)
Table 5 Innovation & Patent Registrations, 2010-2015
Table 6 Market Size, By Type, 2015-2022 (USD Million)
Table 7 Nanosatellite Market Size, By Region, 2015-2022 (USD Million)
Table 8 Microsatellite Market Size, By Region, 2015-2022 (USD Million)
Table 9 Minisatellite Market Size, By Region, 2015-2022 (USD Million)
Table 10 Market Size, By Application, 2015-2022 (USD Million)
Table 11 Market in Earth Observation & Meteorology, By Region, 2015-2022 (USD Million)
Table 12 Market in Communication, By Region, 2015-2022 (USD Million)
Table 13 Market in Scientific Research & Exploration, By Region, 2015-2022 (USD Million)
Table 14 Market in Surveillance & Security, By Region, 2015-2022 (USD Million)
Table 15 Market in Mapping & Navigation, By Region, 2015-2022 (USD Million)
Table 16 Market Size, By End User, 2015-2022 (USD Million)
Table 17 Market for Civil, By Region, 2015-2022 (USD Million)
Table 18 Market for Commercial, By Region, 2015-2022 (USD Million)
Table 19 Market for Defense, By Region, 2015-2022 (USD Million)
Table 20 Market Size, By Region, 2015-2022 (USD Million)
Table 21 North America Market Size, By Type, 2015-2022 (USD Million)
Table 22 North America Market Size, By Application, 2015-2022 (USD Million)
Table 23 North America Market Size, By End User, 2015-2022 (USD Million)
Table 24 North America Market Size, By Country, 2015-2022 (USD Million)
Table 25 U.S. Small Satellite Market Size, By Type, 2015-2022 (USD Million)
Table 26 U.S. Market Size, By End User, 2015-2022 (USD Million)
Table 27 Canada Market Size, By Type, 2015-2022 (USD Million)
Table 28 Canada Market Size, By End User, 2015-2022 (USD Million)
Table 29 Europe Market Size, By Type, 2015-2022 (USD Million)
Table 30 Europe Market Size, By Application, 2015-2022 (USD Million)
Table 31 Europe Market Size, By End User, 2015-2022 (USD Million)
Table 32 Europe Market Size, By Country, 2015-2022 (USD Million)
Table 33 Russia Market Size, By Type, 2015-2022 (USD Million)
Table 34 Russia Small Satellite Market Size, By End User, 2015-2022 (USD Million)
Table 35 France Market Size, By Type, 2015-2022 (USD Million)
Table 36 France Small Satellite Market Size, By End User, 2015-2022 (USD Million)
Table 37 U.K. Market Size, By Type, 2015-2022 (USD Million)
Table 38 U.K. Small Satellite Market Size, By End User, 2015-2022 (USD Million)
Table 39 Germany Market Size, By Type, 2015-2022 (USD Million)
Table 40 Germany Market Size, By End User, 2015-2022 (USD Million)
Table 41 Italy Market Size, By Type, 2015-2022 (USD Million)
Table 42 Italy Market Size, By End User, 2015-2022 (USD Million)
Table 43 Rest of Europe Small Satellite Market Size, By Type, 2015-2022 (USD Million)
Table 44 Rest of Europe Market Size, By End User, 2015-2022 (USD Million)
Table 45 Asia-Pacific Market Size, By Type, 2015-2022 (USD Million)
Table 46 Asia-Pacific Market Size, By Application, 2015-2022 (USD Million)
Table 47 Asia-Pacific Market Size, By End User, 2015-2022 (USD Million)
Table 48 Asia-Pacific Market Size, By Country, 2015-2022 (USD Million)
Table 49 China Market Size, By Type, 2015-2022 (USD Million)
Table 50 China Small Satellite Market Size, By End User, 2015-2022 (USD Million)
Table 51 Japan Market Size, By Type, 2015-2022 (USD Million)
Table 52 Japan Market Size, By End User, 2015-2022 (USD Million)
Table 53 India Market Size, By Type, 2015-2022 (USD Million)
Table 54 India Market Size, By End User, 2015-2022 (USD Million)
Table 55 South Korea Market Size, By Type, 2015-2022 (USD Million)
Table 56 South Korea Market Size, By End User, 2015-2022 (USD Million)
Table 57 Rest of Asia-Pacific Market Size, By Type, 2015-2022 (USD Million)
Table 58 Rest of Asia-Pacific Market Size, By End User, 2015-2022 (USD Million)
Table 59 RoW Market Size, By Type, 2015-2022 (USD Million)
Table 60 RoW Market Size, By Application, 2015-2022 (USD Million)
Table 61 RoW Market Size, By End User, 2015-2022 (USD Million)
Table 62 RoW Market Size, By Region, 2015-2022 (USD Million)
Table 63 The Middle East Market Size, By Type, 2015-2022 (USD Million)
Table 64 The Middle East Market Size, By End User, 2015-2022 (USD Million)
Table 65 South America Market Size, By Type, 2015-2022 (USD Million)
Table 66 South America Market Size, By End User, 2015-2022 (USD Million)
Table 67 Africa Market Size, By Type, 2015-2022 (USD Million)
Table 68 Africa Market Size, By End User, 2015-2022 (USD Million)


List of Figures (41 Figures)

Figure 1 Small Satellite Market Segmentation
Figure 2 Research Flow
Figure 3 Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation
Figure 8 Assumptions of the Research Study
Figure 9 Regional Snapshot: Small Satellite Market
Figure 10 Nanosatellite Type Segment is Estimated to Grow at the Highest CAGR During the Forecast Period
Figure 11 Commercial End User Segment is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 12 Earth Observation & Meteorology Application Segment is Estimated to Grow at the Highest CAGR During the Forecast Period
Figure 13 Attractive Growth Opportunities in the Small Satellite Market, 2017-2022
Figure 14 Russia and Minisatellite Segment are Estimated to Capture Highest Market Share in Europe: 2017
Figure 15 Minisatellite Segment Estimated to Lead the Market in 2017
Figure 16 Commercial Segment Projected to Lead the Market During the Forecast Period
Figure 17 Earth Observation & Meteorology Application Segment Projected to Lead the Market During the Forecast Period
Figure 18 North America Projected to Lead the Small Satellite Market During the Forecast Period
Figure 19 Market, By Type
Figure 20 Market, By End User
Figure 21 Market, By Application
Figure 22 Market Dynamics for Small Satellite Market
Figure 23 Nanosatellite & Cubsat Launched Worldwide, ( 2015- 2017)
Figure 24 Earth Observation Services, 2015
Figure 25 Small Satellite Market Size, By Type, 2017 & 2022 (USD Million)
Figure 26 Earth Observation & Meteorology Application Segment is Estimated to Grow at the Highest CAGR During the Forecast Period
Figure 27 Market Size, By End User, 2017 & 2022 (USD Million)
Figure 28 Geographic Snapshot:Small Satellite Market
Figure 29 North America Market Snapshot
Figure 30 Europe Market Snapshot
Figure 31 Asia-Pacific Small Satellite Market Snapshot
Figure 32 MnM Dive - Vendor Comparison Matrix
Figure 33 Market Share Analysis (2016)
Figure 34 Singapore Technologies Engineering Limited: Company Snapshot
Figure 35 Airbus Group: Company Snapshot
Figure 36 Northrop Grumman Corporation: Company Snapshot
Figure 37 Boeing: Company Snapshot
Figure 38 Lockheed Martin Corporation: Company Snapshot
Figure 39 OHB AG: Company Snapshot
Figure 40 Harris Corporation: Company Snapshot
Figure 41 Orbital ATK: Company Snapshot


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AS 4259
Published ON
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