Novaspace has released its Prospects for the Small Satellite Market 10th edition report and are projecting a $113 billion market over the next 10 years.
Key highlights from the report include:
- The smallsat market is seeing government-driven growth, with global organizations like the U.S. Space Development Agency (SDA) and the European Space Agency (ESA), investing in smallsat constellations and stabilizing the market with long-term contracts.
- Smallsat demand is strong in Asia, with Chinese mega-constellations like GuoWang and Qianfan/G60 expected to account for a third of global launches.
- The market is shifting toward increased vertical integration, with companies like Rocket Lab building, launching, and operating their own constellations.
- Approximately 14,000 smallsats are expected to launch globally between 2024 and 2033, generating a market value of $113.3 billion over the next decade.
Alexandre Najjar, lead analyst for the report said, “The smallsat market remains primarily driven by constellations, a highly opportunistic but challenging segment. While numerous new constellations are in development, many are expected to face scope reductions or consolidation due to inflationary pressures and intense competition, which jeopardize their long-term viability.”
Novaspace added that, “The smallsat industry continues to demonstrate resilience despite supply chain challenges, inflationary pressures, and the exclusion of Starlink and Starshield from the report’s scope. With increasing investments from defense agencies, strong demand from Asia, and the strategic importance of smallsat systems highlighted by global geopolitical tensions, the market remains dynamic. As government contracts and new commercial entrants drive growth, the smallsat sector is poised to play a pivotal role in shaping the future of space-based capabilities worldwide”
The full report is available for purchase on the Novaspace website.
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