According to Euroconsult's newly released research, Prospects for the Small Satellite Market, the market for small satellite (smallsat) manufacturing and launch will grow from $12.6 billion in 2009-2018 to $42.8 billion in the coming decade from 2019-2028, nearly quadrupling in size.
While the growth is led by large constellations such as OneWeb, SpaceX’s Starlink and Amazon’s Project Kuiper, the findings show that the smallsat industry is highly diverse, with demand from a variety of operators, start-ups, universities, and countries.
Key Findings: With data on the period from 2009-2018 for historical trends and 2019-2028 for forecasts, Prospects for the Small Satellite Market is a comprehensive resource for assessment of both current and future trends. It quantifies the changing landscape in the context of market drivers and their impact.
Among the report’s key findings are data points such as:
- In 2017 and 2018 there was a 93 percent increase in the number of smallsats launched compared to 2014-2016.
- 8,600 smallsats will be launched in the next decade, at an average of 835 each year by 2023, growing to an average of 880 per year by 2028.
- Constellations account for 83 percent of the satellites to be launched by 2028.
- The number of smallsats to launch in the next ten years increased by 22 percent over the forecast in the last edition of this report.
- Satellites in the 250-500 kilogram mass range represented six percent of the total number of satellites launched between 2009-2018, but will grow to 18 percent of the satellites launched in the next ten years.
- Smallsats under ten kilograms, such as 3U cubesats, will account for 28 percent of the smallsats launched in the next decade, but only two percent of the total market value.
- Broadband satellite communication should witness the strongest growth with close to 4,200 satellites expected from 2019 to 2028.
Alexandre Najjar, Euroconsult Consultant and editor of the report, said the smallsat market continues to grow in significance for investors, manufacturers, the supply chain, and a range of other stakeholders. This report is an essential tool for strategic planning with an unbiased analysis of current and future trends and provides tangible evidence of the increasing demand for smaller and more capable spacecraft.
Find out more regarding this research on the smallsat market by accessing this direct link..
For all involved in the satellite and space industry and the various market segments that add value to these dynamic environments, the 2020 SmallSat Symposium is truly worth your consideration for attendance.
The SmallSat Symposium is hosted by Satnews Publishers which, since 1983, has been a provider of a satellite news, media and events. This information packed forum was created to enable you and your company to secure a larger portion of market share as well as to take part in the next stages of your company's or organization's growth.
The personal connections at the SmallSat Symposium enable attendees to network with established organizations, subject-matter experts as well as 'New Space' entrants.
The SmallSat Symposium will focus on new technologies and the business environment that is shaping the implementation of smallsat constellations, smallsat launchers, the challenges facing the smallsat developer and actors as well as the enormous benefits of these advanced technologies that will benefit our world.
This event assembles more than 100 diverse speakers, all of whom possess deep industry experience. Additionally, numerous opportunities exist to mingle and network with peers while enjoying exceptional, complimentary meals and refreshment breakfast.