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The small satellite market size has witnessed exponential growth in recent years, escalating from $5.4 billion in 2023 to $6.6 billion in 2024 at a compound annual growth rate (CAGR) of 22.0%. This growth surge in the historic period stems from the cost-efficiency in space missions, advancements in miniaturization, rapid development cycles, and increased access to space, along with the commercialization of space activities. Looking forward, the small satellite market size is anticipated to experience further expansion, reaching $13.97 billion in 2028 with a CAGR of 20.6%. The projected growth is fueled by the escalating demand for earth observation, the rise in communication constellations, advancements in remote sensing technologies, and space exploration, including interplanetary missions.

The surge in space exploration missions significantly fuels the growth of the small satellite market, driven by various government agencies worldwide intensifying their space endeavors. China’s National Space Administration (CNSA) anticipates launching around 100 satellites by 2025, emphasizing the global momentum in space missions. Furthermore, the US Air Force Research Laboratory aims to enhance space awareness capabilities beyond geostationary orbit, intending to patrol the Moon at an altitude approximately 1000 times higher than before. These strategic advancements are poised to positively influence the demand and utilization of small satellites on a global scale, shaping the trajectory of the small satellite market in 2023, 2024, and 2028.

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What Are The Key Trends That Influence Small Satellite Market Share Analysis?

Major companies operating in the small satellite market are focusing on manufacturing facilities to meet the growing demand for space-based services and the continuous development of new technologies. Satellite manufacturing facilities refer to specialized facilities or centers where satellites are designed, constructed, and assembled. For instance, in August 2022, Blue Canyon Technologies Inc., a US-based aerospace company, launched a new small satellite manufacturing facility in Colorado to meet the growing demand for small satellites and cubesats. The expanded 31,000-square-foot facility consolidates manufacturing efforts with dedicated cubesat employees to build large spacecraft. Moreover, this new factory allows the company to produce at a larger scale, provide innovative solutions, and deliver top-performing satellites to meet customers’ needs.

Which Market Players Are Driving Growth In The Small Satellite Market?

Major companies operating in the small satellite market report are Terran Orbital Corporation, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, Honeywell International Inc., GomSpace Group AB, L3Harris Technologies Inc., Ball Corporation, Singapore Technologies Engineering Ltd., Israel Aerospace Industries Ltd., Space Exploration Technologies Corp, Thales Alenia Space, Orbital ATK Inc., Sierra Nevada Corporation, QinetiQ Group plc, OHB SE, The Aerospace Corporation, Dynetics Inc., Planet Labs Inc., Blue Canyon Technologies Inc., Surrey Satellite Technology Ltd., Spire Global Inc., Axelspace Corporation, Innovative Solutions In Space B.V., LeoStella LLC, Capella Space Corp, Astrocast SA, Adcole Maryland Aerospace LLC, Satlantis LLC, Kongsberg NanoAvionics

How Is The Global Small Satellite Market Segmented?

The small satellite market covered in this report is segmented –

1) By Type: Minisatellite, Microsatellite, Nanosatellite, Pico-Satellites, Femtosatellites
2) By Orbit: Low Earth Orbit (LEO), Middle Earth Orbit (MEO), Geostationary Earth Orbit (GEO)
3) By Component: Structures, Payload, Electric Power System, Solar Panel And Antenna Systems, Propulsion Systems, Other Components
4) By Application: Earth Observation And Remote Sensing, Satellite Communication, Science And Exploration, Mapping And Navigation, Space Observation, Other Applications
5) By End-User: Commercial, Academic, Government And Military, Other End-Users

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The Small Satellite Global Market Report 2024 provides an overview of the small satellitemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The small satellite market forecast analyzes small satellite market size, small satellite market share, leading competitor and their market positions.

The Table Of Content For The Small Satellite Market Include

1. Small Satellite Market Executive Summary
2. Small Satellite Market Segments
3. Small Satellite Market Size And Template Market Growth Rate
4.  Key Small Satellite Market Trends
5. Major Small Satellite Market Drivers
……
25. Key Mergers And Acquisitions In The Small Satellite Market
26. Top Small Satellite Companies
27. Small Satellite Market Opportunities And Strategies
28. Small Satellite Market, Conclusions And Recommendations
29. Appendix

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