The small satellite market is projected to grow significantly, reaching a value of USD 32.13 billion by 2030. This growth follows an estimated market size of USD 9.35 billion in 2025, representing a compound annual growth rate (CAGR) of 28.0% over the forecast period. The report by MarketsandMarkets highlights key trends and factors driving expansion in this sector.
Increasing demand for small satellites is attributed to their cost-effectiveness, rapid deployment capabilities, and applications across various industries including telecommunications, earth observation, and defense. Technological advancements and growing investments are also contributing to the market’s robust growth trajectory.
**Why this matters**
The rapid growth of the small satellite market reflects broader shifts in space technology and commercial space activities. Understanding market dynamics helps stakeholders, including manufacturers, investors, and policymakers, make informed decisions about resource allocation and strategic planning in this evolving industry.
Source: News Source