Market Leaders- Top Small Satellite
The small satellite market is projected to grow from USD 3.2 Billion in 2023 to USD 7.0 Billion by 2028, at a CAGR of 16.8% during the forecast period. The growing demand for space-based services and the continuous development of new technologies that make small satellites more competent and affordable are projected to propel the small satellite market in the upcoming years.
Major manufacturers in this market are based in North America and Europe. Sierra Nevada Corporation (US), L3Harris Technologies, Inc. (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), and Airbus Defence and Space (Netherlands) are among a few leading players operating in the small satellite market. Major focus was given to the development of new technologies due to the changing requirements of small satellite customers across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the small satellite market.
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Lockheed Martin Corporation (US) specializes in the research, design, development, manufacturing, and integration of advanced technology systems and related products and services in the aerospace, defense, security, and advanced technologies sectors. The company develops, delivers, and supports aerospace & defense systems and operates through four segments, namely, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The company provides small satellite solutions with powerful and ?exible buses to meet every mission. These small satellites cater to applications like Earth imaging, remote sensing, communications, and next-generation intelligence, surveillance, and reconnaissance capabilities. It has 572 manufacturing plants in 500 cities across all 50 states in the US. It is listed on the New York Stock Exchange with the ticker symbol of LMT. Some of the subsidiaries of Lockheed Martin Corporation are Lockheed Martin Australia Pty Limited (Australia), Lockheed Martin UK Limited (UK), Lockheed Martin Canada Inc. (Canada), Lockheed Martin Global, Inc. (US), and Lockheed Martin Logistics Management, Inc. (US).
Airbus Defence and Space (Germany) designs, develops, manufactures, and provides Earth-observation, navigation, and communication satellites; interplanetary probes; military aircraft; satellite launch vehicles; as well as offers cybersecurity, military intelligence, and One Atlas services. It provides satellite telecommunication and geo-information services as well. The company also focuses on strengthening its offerings through continuous investments in new technologies. These advancements act as a competitive advantage against competitors such as China Aerospace Science, Boeing, Embraer, General Dynamics, and Spirit AeroSystems. Airbus Defence and Space focuses on launching new products to meet the requirements of end users and gain an edge over its competitors. For example, in July 2020, it developed a next-generation software-defined radio payload, Prometheus 1, which will be launched on the Faraday-1 CubeSat from New Zealand. It also strives to increase its market share in the aerospace & defense sector by securing aerospace and government contracts and agreements across the world. For example, in June 2020, the European Space Agency (ESA) signed an agreement worth USD 19.38 million with Airbus Defence and Space to continue the operation and use of European components on the International Space Station (ISS).
L3Harris Technologies (L3Harris) is an American technology company, defense contractor, and information technology services provider that produces C6ISR systems and products, wireless equipment, tactical radios, avionics and electronic systems, night vision equipment, and both terrestrial and spaceborne antennas for use in the government, defense, and commercial sectors. It specializes in surveillance solutions, microwave weaponry, and electronic warfare. It was formed from the merger of L3 Technologies (formerly L-3 Communications) and Harris Corporation on June 29, 2019. L3Harris has four business segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Space and Airborne Systems segment includes space payloads, sensors, full-mission solutions, classified intelligence and cyber defense, mission avionics, and electronic warfare. The Communication Systems segment includes tactical communications, broadband communications, integrated vision solutions, and public safety. The Aviation Systems segment includes defense aviation, commercial aviation products, commercial and military pilot training, and mission networks for air traffic management.
Northrop Grumman Corporation is an American multinational aerospace and defense technology company. The company’s strength lies in the continuous improvement of its processes and methods. In May 2021, The Defense Advanced Research Projects Agency awarded Northrop Grumman a USD 13.3-million contract to provide positioning, navigation, and timing (PNT) payloads for the Blackjack program. Blackjack is a DARPA project to demonstrate the military utility of small satellites in low Earth orbit to provide communications, missile warnings, and PNT. Northrop Grumman satellite services meet the remote sensing, Earth observation, logistics, cybersecurity, and military communication applications. It also strives to increase its market share in the aerospace & defense sector by securing aerospace and government contracts and agreements across the world.
Sierra Nevada Corporation (US) is a trusted leader in solving the world’s toughest challenges through advanced engineering technologies in space systems, commercial solutions, and national security and defense. It focuses on new technology development and working effectively, and getting more partnerships and contract assignments. In August 2020, the company developed two new satellite platforms: the SN-200M satellite bus designed for medium Earth orbit (MEO) and the SN-1000. These satellite platforms offer increased payload capacity for LEO, MEO, and other orbits. In November 2019, Sierra Nevada Corporation received a NASA contract under the Commercial Lunar Payload Services. The company has a broad range of product portfolios, including mini-satellites, nanosatellites, microsatellites, and satellite subsystems. The company is also focusing on emerging trends such as software-defined satellites, AIS, and imaging systems.
Related Reports:
Small Satellite Market by Mass (Small Satellite, CubeSat), Application, Subsystems (Satellite Bus, Payload, Solar Panel, Satellite Antenna), Frequency, End-use (Commercial, Government & Defence, Dual-use), Orbit and Region - Global Forecast to 2028
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