The market for small satellite manufacturing and launch is expected to almost quadruple by 2028, according to a new report.
Euroconsult says the smallsat market will increase from $12.6 billion in 2009-2018 to $42.8 billion over the next ten years.
While the growth is led by large constellations such as OneWeb, SpaceX’s Starlink and Amazon’s Project Kuiper, the Euroconsult’s findings show that the smallsat industry is highly diverse, with demand from a variety of operators, start-ups, universities, and countries.
Smallsats operate in a low earth orbit.
“The smallsat market continues to grow in significance for investors, manufacturers, the supply chain, and a range of other stakeholders,” said Alexandre Najjar, Euroconsult Consultant and editor of the report. “Our report is an essential tool for strategic planning with an unbiased analysis of current and future trends. It provides tangible evidence of the increasing demand for smaller and more capable spacecraft.”
Between 2017 and 2018 there as a 93% increase in smallsats, compared to 2014-2016.
A further 8,600 smallsats will be launched in the next decade at an a average of 835 each year by 2023.
