The global small satellite market size was valued at USD 11.41 billion in 2024 and is expected to increase from USD 14.21 billion in 2025 to USD 19.67 billion by 2032, registering a CAGR of 4.8% during the forecast period. North America dominated the market in 2024 with a 49.17% revenue share, supported by substantial investments and the strong presence of leading industry players in the region.
North America dominated with a 49.17% share in 2024, supported by broadband initiatives, government funding, and private sector contributions from SpaceX, OneWeb, and Amazon’s Kuiper. By application, communication is expected to be the fastest-growing segment, driven by rising demand for high-speed internet in underserved areas and the rollout of large LEO constellations. The United States leads global deployment, with investments from programs like Starlink and NASA’s satellite contracts, while India is emerging as a key manufacturing and launch hub, with companies such as Azista BST ramping up production. The United Kingdom is spearheading European growth through ESA-backed initiatives like Open Cosmos, and China is expanding rapidly in communication, Earth observation, and defense applications under government-led space programs. Meanwhile, the UAE is strengthening its role with satellite investments focused on civil and defense uses in collaboration with international partners.
Airbus S.A.S. (Netherlands)
The Boeing Company (U.S.)
Lockheed Martin Corporation (U.S.)
Northrop Grumman Corporation (U.S.)
Sierra Nevada Corporation (U.S.)
ST Engineering (Singapore)
Thales Group (France)
SpaceX (U.S.)
L3Harries Technologies (U.S.)
https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917
The global small satellite market is segmented by application into communication, navigation, Earth observation, and others; by component into telemetry, tracking and command (TT&C), power systems (solar panels and battery backup), propulsion systems, command & data handling (C&DH), and others; and by type into minisatellites, microsatellites, nanosatellites, and picosatellites. Based on end-use, the market is categorized into civil, military, and commercial sectors. Regionally, the market covers North America (by component, weight, application, and end-use) with detailed analysis of the U.S. and Canada by application; Europe (by component, weight, application, and end-use) with insights on the U.K., Germany, France, Russia, and the rest of Europe by application; Asia Pacific (by component, weight, application, and end-use) including China, India, Japan, and the rest of Asia Pacific by application; and the Rest of the World (by component, weight, application, and end-use) comprising the Middle East & Africa and Latin America by application.
The report provides an analysis of the prominent trends driving the global industry landscape. It further gives an account of the key steps and initiatives undertaken by leading market participants for strengthening their industry position. Some of these steps include merger agreements, acquisitions, and the launch of new products.
Rise in Market Value Owing to Surging Development of Launch Vehicles
One of the key factors propelling the small satellite market growth is the increasing development of small launch vehicles. The industry expansion is propelled by the lower cost of SLVs and shorter production time.
However, the industry expansion is likely to be hindered on account of short lifespan and the limitations of weight and size.
North America to Depict Substantial Growth Driven by Various Upcoming and Ongoing Projects
The North America small satellite market share is poised to grow at a commendable pace over the projected period. The rise is driven by an increase in the range of upcoming and ongoing projects.
The Europe market is expected to depict moderate growth throughout the study period. The surge is impelled by a range of smallsats for earth observation and military applications.
Leading Companies Form Joint Ventures to Secure Competitive Edge
Major small satellite industry players are formulating and implementing a range of strategic initiatives for the consolidation of their position in the market. Some of these initiatives include acquisitions, merger agreements, joint ventures, and the rollout of new products. Additional steps include an increase in research activities.
November 2022 – The Indian Space Research Organization launched an earth observation satellite in addition to 8 nanosatellites. The purpose of these nanosatellites was technology demonstration and optical imaging.