Small Satellite Market - By Satellite Type, By Orbit, By Application, By Frequency, By End user - Global Forecast, 2025 - 2034

Small Satellite Market Size

The global small satellite market size was valued at USD 6.9 billion in 2024 and is estimated to grow at 16.4% CAGR from 2025 to 2034. The rising space launch activity is a key factor for the growth of the market.
 

According to Statista, the number of small satellites rose from 2,429 in 2022 to 2,860 in 2023. Small satellites cater to various space applications such as earth observation and imaging applications. For instance, Planet Labs operates a fleet of small satellites to deliver global imagery daily.
 

According to NanoAvionics, the number of active satellites in space in March 2025 was 11,833, and out of those, nearly 61.5% fell into the category of small satellites. These satellites are mainly used for communication and technology development. For instance, 80% of the communication satellites and 79% of the technology development satellites have launch masses of less than 300 kg.
 

A Small Satellite is a spacecraft with a mass less than 500kg. These satellites are generally smaller in size and lighter as compared to larger satellites. The small satellites are used for a wide variety of space applications, such as earth observation, scientific research, and communications. The development cycles for such small satellites are less compared other satellites and are manufactured at a lower cost.
 

Small Satellite Market Trends

• Technological advancement in small satellites, such as hybrid propulsion and electric propulsion, is gaining traction. Electric propulsion enhances the maneuverability of the small satellites, which in turn extends the life span of space missions. The Department of Defense (DOD) has called for industry proposals seeking innovation in small satellite propulsion systems, owing to the heavy reliance of the military on small satellites for intelligence and communication purposes.
   
• Small Satellites are being deployed as critical infrastructure for Internet of Things (IoT) and 5G networks which help in providing network accessibility to the remote regions. Companies are leveraging nanosatellites for real-time data applications such as precision agriculture and disaster responses. This reflects the importance of small satellites in the current dynamics of the space network.
   

Small Satellite Market Analysis

Based on Orbit, the market is divided into Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO), and others.
 

• The low earth orbit (LEO) satellite market held a value of 5.7 billion in 2024. The LEO region is a highly focused region for the deployment of satellites. According to the Union of Concerned Scientists (UCS) satellite database, out of the total 7,560 satellites operating in January 2023, the LEO orbit had 6,768 satellites.
   
• The geostationary orbit (GEO) satellite market is expected to grow and reach a value of USD 3.2 billion by the year 2034. The rising demand for communications is leading to the growth of small satellites in GEO. For instance, in July 2023, Astranis’s 400kg small sized satellite was manufactured for GEO to improve the internet connectivity in Philippines.
   

Based on application, the small satellite market is divided into earth observation, communication, technology development, space research, navigation, and others.
 

• The earth observation satellite market was valued at USD 1.5 billion in 2024. The growing demand for high-resolution imaging and environmental monitoring is leading to the growth of the market. The small satellites offer high-resolution images and provide real-time data for the observation purposes.
   
• The communication satellite market is anticipated to grow and reach a value of USD 20 billion by 2034. The increasing requirement from various sectors for enhanced communication is creating a path for the growth of small communication satellites. Companies are launching CubeSats and NanoSats into space for the communications establishment and real-time connectivity.
   

Based on satellite type, small satellite market is classified as Pico-satellite (Less than 1 Kg), NanoSats (1–10 kg), MicroSats (11–100 kg), and MiniSats (100-500 KG).
 

• The MiniSats (100-500 KG) market is anticipated to grow and reach a value of USD 21.8 billion by the year 2034. With the rising demand for secure communications, and surveillance, MiniSats are gaining momentum in the market. They are helpful in carrying out complex functions, occupy less space and require less time for development.
   
• The pico-satellite market is projected to grow at a CAGR of 12.1% in the forecast period. These satellites are gaining traction in the market owing to their shorter development cycles. Pico-satellites are increasingly used by educational and research institutions for testing new technologies in space such as communication protocols. In August 2024, India launched 50 Pico-satellites with the help of mobile launcher into the sub-orbital trajectory.
   
• The NanoSats (1–10 kg) market is expected to grow at a CAGR of 21.7% in the forecast period. The increasing IoT services is a key factor for the growth of nano satellites. For instance, in November 2024, the Agros services launched 5 IoT Nano-sats through the Rocket Lab’s launcher. The expanding network of satellites in space brings real-time global connectivity for various applications such as smart agriculture, and pollution tracking.
   

Based on frequency, the small satellite market is segmented into L-band, S-band, C-band, X-band, Ku-band, Ka-band and Q/V-band.
 

• The X-band market is expected to grow at a CAGR of 19.1% in the forecast period. The high demand from military & defense for surveillance purpose is leading to the increase in demand for X-band frequency satellites in the market. It is preferred for secure communication and high-resolution imaging.
   
• The Ka-band market is predicted to grow and reach a value of USD 9.2 billion by the year 2034. The Ka-band frequency level is prominent due to its feature of high-speed data transmissions with reduced latency.
   

Based on end user, the small satellite market is bifurcated into commercial, military & defense, government (law enforcement & homeland security) and universities.
 

• The commercial satellite market is projected to grow and reach a value of USD 22.3 billion by the year 2034. The market is expanding rapidly due to the rising demand of applications such as earth observation, broadband internet, and IoT connectivity. Small satellites are helping in the transformation of the global industries through their functions in fields such as agriculture, telecommunications, and disaster management.
   
• The military & defense market is expected to grow at a CAGR of 18.2% in the forecast period. The increasing demand for situational awareness in the military and defense sector is leading to the growth of market. The battlefield connectivity and tactical intelligence are critical in the military & defense sectors in turn leading to the growth of the satellites in these sectors.
   

• In 2024, the U.S small satellite market was valued at USD 4.5 billion. The country has been increasingly active in the space industry. According to Space Foundation the space launch attempt increased by 33% in 2023. This reflects a major opportunity for the growth of small satellites in the U.S. market.
   
• NASA has been predominantly working on CubeSats to track valuable information about the Earth’s atmosphere. For instance, in January 2025, NASA developed CubeSat called Technology Education Satellite 22 (TES-22) which was launched with the help of the SpaceX Falcon 9 rocket.
   
• The small satellite market in the UK is predicted to grow at a CAGR of 16.9% in the forecast period. The country has been working to strengthen itself in the Earth observation sector. For instance, in December 2024, through the collaboration between the Science and Technology Facilities Council (STFC), RAL Space, and the National Physical Laboratory (NPL) UK, a small satellite calibration facility was opened to support the testing of instruments on small, cube and nano satellites.
   
• The small satellite market in Germany is anticipated to grow and reach a value of USD 3 billion by 2034. The country actively promotes research and development in the space industry and has launched satellites to cater the purpose. For instance, in August 2024, the German CubeSat, Qube was launched with the help of Falcon 9 rideshare to test quantum key generation and distribution via optical link.
   
• The Chinese small satellite market is predicted to grow and reach a value of USD 3.3 billion by the year 2034. The rising dependence on weather forecasting and climate monitoring represents the rising role of small satellites in the country. For instance, in December 2024, 23 satellites of the Tianmu-1 constellation and 12 satellites of the Yuanyao-1 series were integrated into China Meteorological Administration’s (CMA) operational meteorological observing system. It supports the country in the field of weather forecasting.
   
• The small satellite market in India is expected to grow at a CAGR of 17.1% in the forecast period. India is actively participating in new launches of small satellites into space for Earth observation under the guidance of ISRO. In December 2023, Small Satellite Launch Vehicle (SSLV) had put three satellites into the low earth orbit (LEO). One was the satellite from ISRO, EOS-07 weighing around 156 kg, second was Janus-1 6U cubeSat for U.S. company Antaris and the 8U cubeSat Azaadi SAT-2 developed by Indian students.
   
• The small satellite market in Japan is anticipated to grow at a CAGR of 15.8% in the forecast period. The country focuses on technological innovation, disaster monitoring, and commercial applications to excel in the space industry.
   
• The market for small satellite in South Korea is expected to grow at a CAGR of 15.5% in the forecast period. The country is backed by innovations supported by government programmes with the rising focus on telecommunication, and climate monitoring. This reflects the growth in the market in the country.
   

Small Satellite Market Share

The small satellite industry is competitive in nature with major players in the market adopting strategies such as collaboration and partnership to propel in the market. The top 5 major players in the small satellites market are SpaceX, Planet Labs Inc., Airbus SE, Lockheed Martin Corporation, and Northrop Grumman Corporation. They collectively held a share of 59% in 2024 in the small satellite market. The market is witnessing public-private collaboration in small satellite launch services. The increasing rideshares programs to reduce costs are making the market more competitive. In 2024, NASA awarded the contract for the 2 CubeSats launch initiative mission to SpaceX. It was a part of the agency’s Educational Launch of Nanosatellites (ELaNa) initiative for the development and study of earth’s atmosphere.
 

Small Satellite Market Companies

The top 5 companies operating in the small satellite industry are:

• SpaceX
• Planet Labs Inc.
• Airbus SE
• Lockheed Martin Corporation
• Northrop Grumman Corporation
   

Lockheed Martin has been significantly making strategies to remain ahead in the small satellite market. The company is making strategic acquisitions to remain competitive in the market. For instance, in October 2024, Lockheed Martin announced acquisition of small satellite manufacturer Terran Orbital. The acquisition deal stood around USD 450 million.
 

SpaceX has established itself as a dominant force in the market by providing launch services, rapid deployment and rideshare programs. SpaceX leverages this position due to its expertise in automation, and advanced propulsion technology.
 

Small Satellite Industry News

• In May 2024, PLD Space and Exolaunch came into partnership to expand European access to commercial space opportunities. It aims to offer end-to-end launch services for small satellites.
   
• In June 2024, NASA launched its second small climate satellite to study the earth poles. It was launched under NASA’s PREFIRE (Polar Radiant Energy in the Far-InfraRed Experiment) mission which used Electron rocket for the lift of the satellite. The satellite provides information on how much heat the Artic and Antarctica radiates into space.
   
• In October 2023, Space Development Agency (SDA) gave contract to Northrop Grumman worth of USD 732 million for the designing and building of 38 data transport satellites. These satellites support the Tranche 2 Transport Layer- Alpha (T2TL-Alpha) which is the latest phase of SDA’s low-earth orbit (LEO) Proliferated Warfighter Space Architecture (PWSA).
   

The small satellite market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:

Click here to Buy Section of this Report

Market, By Satellite Type

• Pico-satellite (Less than 1 Kg)
• NanoSats (1–10 kg)
• MicroSats (11–100 kg)
• MiniSats (100-500 KG)

Market, By Orbit

• Low Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• Geostationary Orbit (GEO)
• Others

Market, By Application

• Earth observation
• Communication
• Technology development
• Space research
• Navigation
• Others

Market, By Frequency

• L-band
• S-band
• C-band
• X-band
• Ku-band
• Ka-band
• Q/v-band

Market, By End user

• Commercial
  • Telecommunication
  • Transportation & logistics
  • Media & entertainment
  • Others 
• Military & defense
• Government (Law enforcement & homeland security)
• Universities

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands 
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE