Need for Remote Sensing and Earth Observation Growing

The need for remote sensing and earth observation is a driving factor in the forecast growth of the small satellite market. The global small satellite market size reached $3.68 billion in 2021 and is expected to reach $8.84 billion by 2027, exhibiting a CAGR of 15.73% during 2021-2027, according to a new report from Research and Markets.

A small satellite, also known as smallsat, refers to a type of low mass and size satellite, usually under 1,200 kg (≈2,650 pounds). Based on weight, it is categorized into minisatellite, microsatellite, nanosatellite, picosatellite, and femtosatellite. Small satellites are affordable alternatives that enable commercial enterprises, non-profit groups, and educational institutions to conduct missions in lower Earth orbit.

They make it possible to perform several scientific investigations and technology demonstrations in orbit at a low cost, with relative ease, and within a stipulated time. As a result, small satellites are extensively utilized for specific applications such as communication and navigation by civil, commercial, military, and government bodies.

Remote Sensing and Earth Observation Encompasses Several Sectors

The rising need for remote sensing and Earth observation services across various sectors, including energy, oil & gas, defense, agriculture, etc., is primarily driving the global small satellite market. In addition to this, the widespread utilization of small satellites for communication and navigation owing to the increasing popularity of advanced technologies, such as over-the-top (OTT) services and Internet Protocol Television (IPTV), is also stimulating the global market.

Moreover, the elevating demand for LEO-based small satellites to provide low-cost broadband in developing countries is further propelling the market growth. Apart from this, the introduction of small satellites in the telecom industry has led to the acceleration of 5G deployment globally, besides generating new market opportunities for satellite communication (Satcom) companies. This, in turn, is creating a positive outlook for the global market.

Additionally, the escalating usage of small satellites by research organizations for academic purposes and technological experimentation in space is acting as another significant growth-inducing factor. For instance, NASA's CubeSat initiative offers educational institutions and NGOs a chance to collaborate on upcoming small satellite launches. Furthermore, the rising integration of numerous innovative technologies, such as robotics, artificial intelligence, machine learning, etc., to ensure efficient communications, improve spacecraft reliability, and enhance coordination is expected to augment the global small satellite market over the forecasted period.

(Source: Research and Markets news release. Images from file)