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Small Satellite Market to Witness Significant Incremental Opportunity During 2019-2030

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BIS RSRCH
Small Satellite Market to Witness Significant Incremental Opportunity During 2019-2030

Until 1982, all the civil and commercial payloads were being launched by the U.S. government into their orbits. However, over the recent years, the utilization of space has also become prominent for civil applications besides the military ones. In particular, the commercial space sector is observing an increase in the number of satellite start-ups, which are frequently developing disruptive technologies for the space industry, such as small satellites (micro, nano, pico, and femto). Moreover, increased capability of these satellites to compliment the conventional satellites along with the low manufacturing and launching cost associated with them are some of the major factor driving the adoption of small satellites. During the forecast period, 2019-2030, increasing number of satellite constellations are expected to drive the significant growth in the market.

The small satellite market is expected to play out differently for every region or end user, therefore this report segments the market accordingly and breaks down the industry geographically as North America (the U.S. and Canada), Europe (France, the U.K., Poland, Germany, Russia, and Rest-of-Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest-of-APAC), and Rest-of-the-World (Latin America, Middle East and Africa, and others). Each regional analysis details individual push and pull forces in addition to the key players from that particular region.

During the initial years of the development of space technologies, the primary focus of companies had been on developing heavy and large-sized satellites. However, over recent times, the space industry has witnessed a number of technological advancements which have created substantial demand for small-size satellites as well as cost-effective launch solutions.

With the increase in the capabilities of small satellites, the space industry is increasing its strategic utility, thus motivating various stakeholders including government, space agencies, and private companies to develop dedicated and next-generation small satellite constellations. Presently, small satellites are being increasingly used for applications such as weather forecast, surveillance, earth observation, navigation, communication, meteorology, and other purposes. Of late, there has been an increased demand for efficient small satellite constellations for providing better connectivity for smart devices, Internet of Things (IoT), increased data analytics, and migration to streaming broadband.

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Over the past years, the number of small satellite launches has increased tremendously, owing to the low cost associated with their development and launch. The small satellite industry is rapidly adopting small and lightweight swarm of satellites with equal power and higher agility as compared to the ones currently being used. The next big trend in the market is autonomous small satellites which are capable of undertaking fault corrections independently and to avoid any mishap in the orbit. For the same, a number of initiatives have been undertaken to drive autonomy in small satellites.

For instance, in 2018, National Aeronautics and Space Administration (NASA) launched two CubeSats in the Mars orbit to attain information of interior structure of the planet. These satellites have autonomous command control and inter-satellite link so that satellites can exchange data within themselves before transmitting it to the ground terminal. With this mission, NASA aims at technology demonstration of autonomous satellite, which is to be implemented in the swarm of satellites in the upcoming projects.

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