Small Satellite Market to Partake Significant Development During 2019-2030

The global small satellite market is affected by a number of key factors: Components miniaturization enabling the development of small satellites, escalating demand for satellite constellation, and increasing deployment of small satellites by commercial players are driving the growth of the market. In addition to this, developing safe, low-cost, and small payload to launch beyond low earth orbit and clean-up and removal of space debris act as major challenges to the market. Furthermore, increasing utilization of Commercial off-the-shelf (COTS) components and technological developments in the structure of small satellites are the major opportunities in the market. Each of these factors has a definite impact on the growth of the market.

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The small satellite market, though an emerging market, is one of the highly competitive industries with leading players contending against each other to attain higher market share in the space industry. The competitive landscape of the small satellite market exhibits an inclination toward companies adopting both organic and inorganic strategies such as business expansions, partnerships/agreements/collaborations, product launches, and acquisitions to gain a greater share of the industry. Innovative product launches, precise and secure subsystems, pricing strategies, acquisitions of small-scale start-ups, and formation of partnerships among the major market players of the space industry are some of the key initiatives undertaken by the companies, thus boosting the growth of the market.

Some of the key players in the space industry are Ball Corporation, Clyde Space Ltd., Airbus S.A.S., Deep Space Industries, Inc., Innovative Solutions In Space BV, Interorbital Systems, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, NanoAvionika, LLC, Northrop Grumman Corporation, OHB SE, Orbital ATK, Inc., Planet Labs, Inc., QinetiQ Group PLC, Terra Bella, The Boeing Company, and Tyvak Inc. These companies are aiming for a wide range of product launches and collaborations to expand their operations and compete in the market. Besides, emerging companies such as OneWeb, NanoRacks LLC, Satellogic, Surrey Satellite Technology, Kepler Communications, Aistech Space, Aerial Maritime, and Sky and Space Global are anticipated to drive growth and technological development in the market during the forecast period.

The high growth of the small satellite market is unprecedented for the satellite industry and will bring about fundamental changes, owing to the startups and established players in the market focusing on increasing their capabilities in order to gain a market share. Due to the ongoing efforts of industry players to develop high-end small satellite solutions, the small satellite market is anticipated to grow at a rapid pace for space missions. Further, given the huge potential of the small satellite market, a greater number of key strategic developments are expected to take place among space players over the coming years.

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Airbus is one of the major international pioneers in the aerospace and defense industry. The company designs, manufactures, and delivers aerospace products and services to the customers across the globe. The company operates in four divisions: commercial aircraft, defense, space and helicopters. Airbus Defense and Space is responsible for the development of products in the space segment. The space segment of the business provides space equipment, launchers, earth observation, and telecommunication satellite, human spaceflight and others. Airbus is a prominent manufacturer and operator in the satellite-based earth observation.

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