CubeSat Market Research Report – Global Forecast till 2027

CubeSat Market Research Report: Information by Size (O.25u-1U, 2U), Subsystem (Payloads, Structures), Application (Earth Observation & Traffic Monitoring, Communication), End User (Commercial, Non-Profit Organization), and Region — Global Forecast till 2027

ID: MRFR/A&D/6054-HCR | December 2022 | Region: Global | 133 Pages         

CubeSat Market

CubeSat Market Size Valued at USD 500.51 Million, market Grow at a CAGR Of 16% by 2020 -2030

Segmentation

By Size O.25u-1U 2U
By Subsystem Payloads Structures
By Application Earth Observation & Traffic Monitoring Communication
By End User Commercial Non-Profit Organization

Key Players

  • Lockheed Martin Corporation (US)
  • Sierra Nevada Corporation (US)
  • The Boeing Company (US)
  • GomSpace (Denmark)
  • Harris Corporation (US)
  • OHB SE (Germany)
  • Capella Space (US)
  • Clyde Space Ltd (UK)
  • Airbus S.A.S (The Netherlands)
  • Tyvak Nano-Satellite Systems Inc. (US)
  • Busek Co. Inc. (US)
  • CU Aerospace L.L.C. (US)
  • MAXAR TECHNOLOGIES (US)
  • EnduroSat (Bulgaria)
  • Planet Labs Inc. (US)

Drivers

  • High Adoption rate of these systems
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CubeSat Market Overview


CubeSat Market is expected to grow 19.83% during the forecast period. CubeSats have made space launches easier for more than a decade and are being continually deployed. They are low-cost options that have made it easier for commercial firms, non-profit groups, and educational institutions to launch missions into low-Earth orbit. These miniature satellites enable numerous scientific studies and technology demonstrations to be conducted in space in a cost-effective, timely, and very simple manner.


The increasing use of CubeSats has established the groundwork for increased global deployment of the Internet of Things (IoT), allowing the connecting of parts of the Earth without base contact via space installations. The globe is witnessing an increase in the number of sensor-driven devices requiring worldwide communications and connections. Modern satellites are being designed for new applications such as space mining and space debris cleanup, among others, as the capabilities and utility of CubeSats increase due to technology advancements in electronics and communications. In terms of space mining, certain commercial firms have already begun operations targeted at utilizing minerals, energy resources, and water found in outer space.


The accommodation of payloads is one of the major issues in terms of the variety of missions that CubeSats may execute. Due to the small size of CubeSats, the volumes of propulsion, payload, and other subsystems are strictly limited. The CubeSat's lack of space also limits its capacity to carry crucial subsystems that CubeSats require to accomplish a complex mission.


Segmentation of the Global CubeSat Market


Based on size, the 3U (4.0 kg to 6.0 kg) segment is anticipated to witness the highest CAGR over the forecast period. High adoption rate of these systems for various applications, such as meteorology, disaster management, remote sensing, and military intelligence are expected to drive the market.  


On the basis of subsystem, the payloads segment is anticipated to lead and grow at the highest CAGR over the forecast period. Payloads provide orbital maneuvering capability that enables scientists in experiencing enhanced space observation. Based on application, earth observation & traffic monitoring segment is anticipated to grow at the highest CAGR over the forecast period. Growing demand for earth imaging and real-time data are bolstering market growth. On the basis of the end user, the commercial segment is anticipated to grow at the highest CAGR over the forecast period. Increased adoption CubeSats for commercial purposes such as crop monitoring, fleet management, and logistics tracking are fueling the market growth.


North America is estimated to account for the largest share during the review period. Presence of prominent players such as Lockheed Martin Corporation and Sierra Nevada Corporation are expected to bolster the market growth. Furthermore, stringent government regulations pertaining to manufacturing and launching of CubeSats are boosting the market growth in the region.


Intended Audience



  • Satellite manufacturers

  • Space organizations

  • Government authorities

  • Defense companies

  • Research Institutes

  • Regulatory bodies


Key Players


The key players in the global CubeSat market are Lockheed Martin Corporation (US), Sierra Nevada Corporation (US), The Boeing Company (US), GomSpace (Denmark), Harris Corporation (US), OHB SE (Germany), Capella Space (US), Clyde Space Ltd (UK), Airbus S.A.S (The Netherlands), Tyvak Nano-Satellite Systems, Inc. (US), Busek Co. Inc.  (US), CU Aerospace, L.L.C. (US), MAXAR TECHNOLOGIES (US), EnduroSat (Bulgaria), and Planet Labs Inc. (US).


Research Methodology


The market numbers and forecast derived were the outcomes of our disciplined research methodology that includes secondary research, primary interviews, followed by data triangulation and validation from our in-house data repository and statistical modeling tools.


Secondary Research


In this process, the data collection was done through various secondary sources, which included annual reports, SEC filings, journals, government association, aerospace & defense magazines, white papers, corporate presentations, company websites, some paid databases, and others.


Primary Research


In this process, both the demand side and supply side parties were involved in extracting genuine facts and insights about the market forecast, production, trend, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain have been approached to obtain key information.


Report Key Insights



  • Market Sizing, Forecast, and Analysis: Detailed coverage on market segment and its sub-segments

  • Regional / Country Trend and Forecast: Detailed analysis on North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America, along with key countries in each of the regions

  • Market dynamics intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain & value chain analysis

  • Technology Trend, Regulatory Landscape, and Patent Analysis Outlook

  • Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, strategic developments including JVs, Product Launch, and M&A

  • Regional attractiveness and related growth opportunities


Recent Development

February 20, 2022: A cubesat mission to test a lunar orbit vital to NASA's Artemis program is nearing completion for a spring launch. The CAPSTONE spacecraft, or Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment, is a cubesat mission that will test operations in the near-rectilinear halo orbit (NRHO) around the moon that will be used by Artemis missions, including the lunar Gateway.


Report Customization


MRFR offers report customization to our valued customers. Below are the options available for customization:



  • Company Profiles


In-depth profiling of additional market players (3 to 4 companies)



  • Country Level Analysis


Detailed analysis of a country and its related segment as per the report scope (subject to data availability)



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Frequently Asked Questions (FAQ) :

Global CubeSat Market is projected to register a CAGR of 19.83%.

Global CubeSat Market’s revenue will be USD 8 billion by the end of 2023.

The major factors liable for the growth of the market is increased adoption of CubeSats for various applications, such as traffic monitoring and commercial industries such as oil & gas and agriculture, are expected to bolster the market growth.

The emerging regions such as North America, Europe, South Africa, China, and South Korea are to drive the growth for the 3D printing filament market.

Harris Corporation, Capella Space, OHB SE, Airbus S.A.S, Clyde Space Ltd are some of the key players of the Global CubeSat Market.