Satellite Manufacturing Market Size

Satellite Manufacturing Market Size

The global satellite manufacturing market size was valued at USD 19 billion in 2024 and is estimated to grow at a CAGR of 14.8% from 2025 to 2034. The market is growing as demand rises for advanced Earth observation and data analytics. This growth stems from the need for real-time, high-resolution data in areas like environmental monitoring, disaster response, agriculture, and urban planning. Technological progress in satellite miniaturization and operational efficiency has led to the deployment of small satellites and CubeSats that can perform complex observation tasks, further driving market expansion.

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For instance, in November 2023, Blue Canyon Technologies (BCT), a small-satellite manufacturer and mission services provider owned by RTX, announced the successful launch and initial contact with CubeSats for NASA's Starling mission. This technology demonstration aims to validate the ability of cooperative spacecraft groups to operate autonomously and in sync, showcasing "swarm" capabilities.
 

Private investment is driving innovation in satellite manufacturing as companies seek to capitalize on the growing space economy. Firms like Blue Canyon Technologies (a subsidiary of RTX), Maxar Technologies, and Planet Labs are taking larger roles in satellite development. This influx of private capital has sped up innovation, resulting in more advanced satellite technologies. These include smaller and modular designs that serve various commercial needs such as communication, Earth observation, and data analysis.
 

As a result, the industry is becoming more dynamic and responsive to market demands, with private companies playing an increasingly significant role in shaping the future of satellite technology.