Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 131 billion

CAGR (2023-2028)

5.45%

Fastest Growing Segment

GEO

Largest Market

North America


Market Overview

Global Small Satellite Market has valued at USD 131 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.45% through 2028. A small satellite is a downsized spacecraft that is smaller than a typical satellite and weighs less than a thousand kilograms. Its feasibility is further increased by the fact that it can be constructed in a shorter amount of time and with fewer human resources. These satellites are used for a number of purposes, including in-orbit inspection, communication, surveillance, and earth observation. The global small satellite market share has been further stimulated by recent advancements in the commercial space economy. Global demand for these satellites is being driven by notable private ventures like Kuiper, OneWeb, and Starlink. Additionally, it is anticipated that the global market would be driven by the improved capability of tiny elements like processors, propulsion systems, receivers, and so forth.