Small Satellite Market Segmentation by Type, Application, and Region 2025–2032

1. The global small satellite market was valued at USD 11.41 billion in 2024 and is projected to grow from USD 14.21 billion in 2025 to USD 19.67 billion by 2032, registering a compound annual growth rate (CAGR) of 4.8% during the forecast period. In 2024, North America led the market, accounting for 49.17% of global revenue, driven by strong investments and the presence of key players in the region. Small satellites, typically weighing less than 1000 kg, offer a compact and efficient alternative to traditional satellites. Their smaller size allows for faster development, reduced personnel requirements, and lower launch costs, making them an increasingly practical solution across a range of applications including communication, earth observation, environmental monitoring, and in-orbit inspections. The market is witnessing rapid expansion due to technological advancements and growing activity in the private space sector. Companies such as Starlink (SpaceX), OneWeb, and Project Kuiper (Amazon) are playing a pivotal role in accelerating demand, particularly for satellite constellations intended to deliver global broadband connectivity. Leading Players Featured in the Research Report: 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.) Information Source: https://www.fortunebusinessinsights.com/industry-reports/small-satellite-market-101917 Segmentation: Propulsion System to Gain Traction Owing to Range of Applications On the basis of component, the market is fragmented into command & data handling; telemetry, tracking, and command; propulsion system; power system; and others. The propulsion system segment is anticipated to emerge as the fastest rising segment over the estimated period. The surge is driven by extensive applications and the higher cost of components. Minisatellite to Lead Owing to Various Technological Applications and Features Based on weight, the market for small satellites is subdivided into microsatellite, minisatellite, nanosatellite, and picosatellite. The minisatellite segment is slated to depict considerable expansion throughout the forecast period. The rise is due to the advantage of longer life span and the inclusion of each aspect of a standard satellite.

2. Military Segment to Register Notable Surge Owing to Rising Satellite Constellations By end-use, the market is categorized into commercial, military, and civil. The military segment is estimated to depict substantial expansion throughout the study period. The surge is driven by the escalated fleet size and cost associated with military satellites. Earth Observation Satellite Demand to Rise Driven by Escalated Investments On the basis of application, the market is subdivided into communication, navigation, earth observation, and others. The earth observation segment is slated to dominate the market over the forecast period. The rise is due to the increasing investments toward navigation satellite constellations. By geography, the market has been analyzed across North America, Europe, Asia Pacific, and the rest of the world. Report Coverage: 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. Drivers and Restraints: 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. Regional Insights: 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. Competitive Landscape: 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

3. include acquisitions, merger agreements, joint ventures, and the rollout of new products. Additional steps include an increase in research activities. Key Industry Development: 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.