Small Satellites Market is Forecasted to Reach US$ 7706.5 Million in 2030, Says Stratview Research

Detroit, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The global small satellites market is projected to witness a growth rate of 2.2% annually from 2024 to 2030, with an anticipated size of US$ 7706.5 million by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global small satellites market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the Small Satellites Market:

The global small satellites market is segmented based on type, application type, end-user type, and region.

Based on type - The market is segmented into picosatellite nanosatellites, microsatellites, minisatellites, and smallsats. Smallsats is expected to remain dominant as well as the fastest-growing satellite during the forecast period. Smallsats weigh less than 1,200 kg. These satellites are simpler and use similar technologies as larger satellites. SpaceX is a prominent leader in the small satellite industry, utilizing satellites primarily for communication and broadband internet services. The Starlink V2 Mini is in high demand in the small satellite market due to its 4x data capacity and advanced technology.

Based on the application type – The market is segmented into earth observation & meteorology, communication, scientific research & exploration, and others. Communication is expected to remain the demand generator during the forecast period. Rising demand for high-speed internet services coupled with growing digitalization across various verticals is augmenting the demand for small, especially for communication purposes. Their lower orbital altitude compared to traditional satellites results in faster signal travel times, which is crucial for real-time communication services.

Based on the end-user type - The market is segmented into civil, commercial, defense, and others. Commercial is expected to remain the dominant and fastest-growing end-user of the market during the forecast period. This growth is attributed to the increasing demand for internet services and mobile consumers. The market is also being driven by the growing use of small satellites for surveillance purposes. Satellites can serve various commercial purposes such as weather forecasting, communication, and navigation.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for small satellites during the forecast period. This growth outlook is majorly attributed to the following–

• The market is dominated by Starlink, which has launched nearly 6,000 small satellites to date. Starlink plans to launch 12,000 satellites to provide global broadband connectivity.
• Recently, the US government has also approved satellite constellations for the project Kuiper. These factors pave the way for the regional market.

Small Satellites Market Drivers:

Some of the key drivers listed in the report are given below.

• The rising focus on cost reduction and relay satellites led to the emergence of mass deployment of small satellites.
• The number of small satellites launched in the past few years has increased significantly due to their low cost, easier integration with launch vehicles, and technological advancements.

Top Companies in the Small Satellites Market:

The market is highly fragmented with the presence of some players. Most of the major players compete in some of the governing factors including technology, purpose, offerings, etc. Stratview Research has identified the following companies as the top market players (arranged alphabetically).

• Amazon Kuiper
• Capella Space
• Chang Guang Satellite Technology Co., Ltd.
• OneWeb Satellites
• Planet Labs Inc.
• Satellogic
• SpaceX (Starlink)
• Spire Global

What Deliverables Will You Get in this Report?

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Related Reports:

• Space Launch Vehicle Services Market
• Space Electronics Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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