The small satellite market is estimated at $3.2 billion in 2023 and is projected to reach $7.0 billion by 2028, at a CAGR of 16.8 % from 2023 to 2028 according to a new report by MarketsandMarkets. The increasing capabilities of small satellites through the integration of the latest hi-tech and commercial-off-the-shelf electronic circuits will further boost the demand for such satellites at a rapid pace in the coming years.