Small Satellite Market Size and Share

The global small satellite market was valued at US$ 9.4 Billion in 2023, and is expected to register a CAGR of 18.5% over the forecast period and reach US$ 43.3 Bn in 2032.

Small satellites are a category of spacecraft, with in-orbit masses being less than 500 kilograms, and while this broad category comprises nanosatellites or nano weighing 1-10kg and picosatellites or pico weighing 0.1–1 kg, small satellites, these craft have been gaining rapid attention worldwide in recent times. Small satellites are compact and designed for a variety of end-uses and application areas, but most are individually designed for specific needs or as per desired outcomes and objectives in space. Small satellites offer affordability, versality, and ease of manufacture and deployment, as well as potential to democratize access in space, thereby enabling an increasing number of countries and private entities and companies to participate in space exploration and offer services associated or based on satellite technology.