Small satellites market to reach USD 7706.5 million in 2030

The global small satellites market is projected to witness a growth rate of 2.2% annually from 2024 to 2030, with an anticipated size of US$ 7706.5 million by 2030, according to Stratview Research.

Stratview Research, a global market research firm has launched a report on the global small satellites market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Segment Insights on the Small Satellites Market:
The global small satellites market is segmented based on type, application type, end-user type, and region.

Based on type – The market is segmented into picosatellite nanosatellites, microsatellites, minisatellites, and smallsats. Smallsats is expected to remain dominant as well as the fastest-growing satellite during the forecast period. Smallsats weigh less than 1,200 kg. These satellites are simpler and use similar technologies as larger satellites. SpaceX is a prominent leader in the small satellite industry, utilizing satellites primarily for communication and broadband internet services. The Starlink V2 Mini is in high demand in the small satellite market due to its 4x data capacity and advanced technology.

Based on the application type – The market is segmented into earth observation & meteorology, communication, scientific research & exploration, and others. Communication is expected to remain the demand generator during the forecast period. Rising demand for high-speed internet services coupled with growing digitalization across various verticals is augmenting the demand for small, especially for communication purposes. Their lower orbital altitude compared to traditional satellites results in faster signal travel times, which is crucial for real-time communication services.

Based on the end-user type – The market is segmented into civil, commercial, defense, and others. Commercial is expected to remain the dominant and fastest-growing end-user of the market during the forecast period. This growth is attributed to the increasing demand for internet services and mobile consumers. The market is also being driven by the growing use of small satellites for surveillance purposes. Satellites can serve various commercial purposes such as weather forecasting, communication, and navigation. Stratview Research