Small Satellite Market Size & Share to Surpass $8.86 Billion by 2030

WASHINGTON, May 31, 2023 (GLOBE NEWSWIRE) -- The Global Small Satellite Market is valued at USD 2.9 Billion in 2022 and is projected to reach a value of USD 8.86 billion by 2030 at a CAGR (Compound Annual Growth Rate) of 17.3% over the forecast period 2022-2028.

Market Overview

The market for LEO-based telecom services is fuelling the expansion of the Small Satellite industry. The smaller product in the telecommunications constellation contains onboard attitude control and propulsion systems and communicates with the ground primarily through radio or laser communications. Developed nations have an expanding market need for high-speed, inexpensive bandwidth with greater capacity for information systems (banking, retail), the energy industry (gas, oil, mining), and politics.

We forecast that solar panels in Small Satellite market sales will account for more than 25% of total sales by 2030. Illumination converters include solar panels. A grouping of solar or photoelectric cells used to produce power through the photovoltaic effect is known as a solar panel. Pure silicon solar cells are used to create most solar panels.

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Market Dynamics

Increase in Usage in Military Area Support Market Expansion Military satellites are employed for communication, surveillance, and reconnaissance mission profiles. Early warning systems and continuous monitoring of a region are both capabilities of military satellites. Military satellites can carry out tactical and strategic tasks in addition to surveillance. In addition to keeping an eye on enemy weapon advancements, satellites may also check if countries abide by arms control agreements and encourage sustainable targeting by planning to place military assets in key strategic locations in the event of hostilities. To address the rising demand, military Small Satellite makers are concentrating on ways to mass-produce small, affordable satellites. The strategy calls for inexpensive industrial-rated passives during the development and design validation phases.

Increasing Adoption of Small Satellites for Commercial Applications has Significantly Boosted Market Growth One of the key drivers of expanding the global Small Satellite market is the rising demand for complex projects for both commercial and governmental purposes worldwide. The global Small Satellite market is rapidly expanding due to the rising number of satellites launches for commercial purposes, including satellite TV antennas, communication, radio transmission, etc.

Top Players in the Global Small Satellite Market

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Top Trends in the Global Small Satellite Market

Top Report Findings

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Recent Developments in the Global Small Satellite Market

Communication Category of the Application Segment of the Global Small Satellite Market Forecast to Generate Nearly Half the Application Segment Revenue For better understanding, based on the Application, the Small Satellite market is divided into Communication, Earth Observation, Education, Technology, and Other Applications.

The Communication market was the largest by application and is anticipated to hold the top spot during the projected period. On-ground transmissions can be made possible by satellites. This covers both one-way and multiple communication, from radio shows to broadband. A global communications network is only possible with satellite communications. Over 2,000 man-made satellites circling the earth transmit and receive digital and analog signals, conveying audio, video, and data to and from single or several sites worldwide.

On the other hand, the Earth Observation category is anticipated to grow significantly. This is mostly because tiny satellites' compact design facilitates efficient earth observation. Small Satellites are used in earth observation to observe the earth using electro-optics and radar. These little items are also utilized in meteorology for practical applications and Earth science studies. Moreover, these technologies can track natural disasters like storms, floods, cyclones, volcanic eruptions, fires, landslides, pollution, and accidents at factories and power plants.

Nearly Half the Total Global Revenue is Expected to be Generated by the North America Region of the Small Satellite Market in the Projected Period The North America region is projected to do so in the coming years. due to rising financial support for space-related endeavours. For instance, NASA sets aside a certain amount of money each year for space-related projects, such as research, aviation, space technology, exploration, and other areas. Also, the increasing adoption of tiny satellites from several end-use industries, including research organizations, military & defines, and communication, has boosted regional market expansion.

The Asia Pacific region is projected to grow fastest in the Small Satellite market. As a result of the rising per-income level in developing countries in the Asia-Pacific region like China, India, and Taiwan, there is expected to be an increase in demand for geographic information services in areas like satellite-based network infrastructure and mobile computing services during the forecast period. India is anticipated to play a significant role in tiny satellite services on account of the increased focus on advanced research by the Indian Space Research Organization (ISRO), which has shifted most of its commercial space-related operations to the sector. The Government of India also supports attempts to encourage cooperation and coordination among substantial private space sector players. In addition, China, another important nation in the area,

Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Small Satellite Market Forecast Report (2023-2030).

Global Small Satellite Market Segmentation

By Application

By Subsystem

By End-Use

By Mass

By Frequency

By Orbit

By Region

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