CubeSat Market Research Report Information By Size (O.25u-1U, 2U), By Subsystem (Payloads, Structures), By Application (Earth Observation & Traffic Monitoring, Communication), By End User (Commercial, Non-Profit Organization), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030.

Global CubeSat Market Overview

CubeSat Market Size was valued at USD 0.2 billion in 2022. The CubeSat market industry is projected to grow from USD 0.23 Billion in 2023 to USD 0.56 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.00% during the forecast period (2023 - 2030). The growing use of CubeSats in communication, science, and technology applications, as well as earth observation and monitoring of the planet, are the key market drivers enhancing the market growth. Government organizations and commercial businesses are investing heavily in CubeSat to quickly produce and test satellites and investigate cutting-edge technologies and concepts.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

CubeSat Market Trends

• The increase in the number of satellites launches is driving the market growth

Market CAGR for CubeSat is driven by the rising number of satellite launches. In wealthy nations, there is a considerable need for small satellites with increased capacity for enterprise data (retail, banking), energy (oil, gas, mining), and governments. Consumer demand for affordable broadband is rising in less developed nations and rural areas, where internet connections may be patchy. Satellite constellations have been placed into orbit by Planet Labs (U.S.), Orbcomm (U.S.), SES S.A. (Luxembourg), and SpaceX (U.S.). Boeing (U.S.), Telesat (Canada), Amazon (U.S.), and OneWeb (U.K.) are all developing small satellite constellations. Yet not all of them have a good chance of success. Satellite constellations have been placed into orbit by Planet Labs (U.S.), Orbcomm (U.S.), SES S.A. (Luxembourg), and SpaceX (U.S.). Boeing (U.S.), Telesat (Canada), Amazon (U.S.), and OneWeb (U.K.) are all developing small satellite constellations. Yet not all of them have a good chance of success. The price per megabit for broadband access from GEO, MEO, and LEO satellites could drop to 3 terabits of bandwidth by 2025; proposed LEO constellations could deliver almost 10 times as much, even though there is a high demand for low-cost, high-speed broadband in developed countries if all planned GEO HTS satellites and LEO constellations succeed.

Figure 1: Total number of orbital launches in 2021 by Spaceport

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Due to developments in additive manufacturing, there are an increasing number of 3D-printed components aboard tiny satellites. Manufacturers of small satellites are adopting the technology to reduce costs and quicken spacecraft construction with greater capabilities. Future satellites that can print components while in orbit are made possible by advancements. For instance, in May 2022, the Mitsubishi Electric Corporation created a brand-new solar-powered technique for printing satellite antennas in orbit. The technique developed by Mitsubishi uses a unique resin that, when exposed to ultraviolet light from the sun, solidifies into a stiff material. The new method can result in cost savings by eliminating the need to send several components into orbit, which take up a lot of rocket space. Thus, driving the CubeSat market revenue.

CubeSat MarketSegment Insights

CubeSat Size Insights

The  cubesat market segmentation, based on size, includes 0.25u-1u and 2u. The 0.25u to 1 u segment dominated the market due to the demand for larger volume and aperture, 0.25u to 1 u CubeSats are swiftly displacing other types of satellites as the top choice for use in space missions by several manufacturers, and the market for these spacecraft is expected to grow profitably. Swarms of 0.25U spacecraft are being launched into space by several players in this scenario. Additionally, in 2022, the 2u segment witnessed the fastest growth rate. Earth observation, meteorology, remote sensing, marine & transportation management, disaster management, military intelligence, and other academic applications are just a few examples of the high accuracy and complicated space missions for which 2U CubeSats can be utilized.

CubeSat Subsystem Insights

The  cubesat market segmentation, based on subsystems, includes payloads and structures. Over the years, the structures category will experience strong expansion. The expansion is related to the rise in satellite demand for various uses. The expansion of satellite services in outlying areas is the cause of the rising demand for satellites, which in turn is fueling the rise of the structures market. The payload segment is expected to experience significant expansion during the projected period. Payloads will be utilized for various purposes, including communication, earth observation, navigation, and weather monitoring.

CubeSat Application Insights

The  cubesat market data, based on application, includes earth observation & traffic monitoring and communication. In 2022, the communication segment was anticipated to develop at a major CAGR. The expansion is credited to the increased use of communications antennas in the public and private sectors. Broadcasting, telecommunications, and data communications are just a few of the services satellites offer. The CubeSat market's Earth observation & traffic monitoring segment is anticipated to experience the fastest CAGR growth in 2022, as technology for gathering data on the Earth's physical, chemical, and biological systems is constantly developing. The Group on Earth Observations has members from over 100 nations and a similar number of organizations, and its membership is expanding yearly.

Figure 2: CubeSat Market, by application, 2022 & 2030(USD billion)

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

CubeSat End-User Insights

The  cubesat industry, based on end-user, includes commercial and non-profit organizations. In 2022, the commercial sector dominated the market and grew the fastest. The US Federal Government's growing interest in using commercial space services for all facets of its missions and the rising demand for high-resolution satellite imagery from commercial satellite operators contribute to the rise of the commercial sector. The market is expanding due to the growing use of satellites for adversary surveillance. Satellites are used for various commercial purposes, including communications, weather forecasting, and navigation.

CubeSat Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American cubesat area will dominate this market. Rising NASA R&D initiatives and rising military spending on surveillance missions drive the region's market. The ideal transmission for each application is real-time, made possible by NASA's use of SKYWAN technology and a tri-band antenna.

Further, the leading countries studied in the market report are U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: CUBESAT MARKET SHARE BY REGION 2022 (%)

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Europe’s cubesat market accounts for the second-largest market share due to the introduction of internet and IoT-based services for various applications. The major factor driving the market's growth is the manufacturers' focus on reducing mission costs. Moreover, new technological advancements for space exploration are expected to enhance smallsat capabilities, driving the market growth. Further, the German cubesat market held the largest market share, and the UK cubesat market was the fastest-growing market in the European region.

The Asia-Pacific CubeSat Market is expected to grow at the fastest CAGR from 2023 to 2030. As a result of rising per capita income in developing countries in the Asia-Pacific region like China, India, and Vietnam, there is expected to be an increase in demand for satellite data services in areas like satellite-based network infrastructure and information technology-based services during the forecast period. China National Space Agency (CNSA) estimates that by 2025, the nation will launch roughly 100 satellites. Moreover, China’s cubesat market held the largest market share, and the Indian cubesat market was the fastest-growing market in the Asia-Pacific region.

CubeSat Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the CubeSat market, grow even more. Market participants are also undertaking various strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the CubeSat industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  CubeSat industry to benefit clients and increase the market sector. In recent years, the CubeSat industry has offered some of the most significant advantages to medicine. Major players in the CubeSat market, including Busek Co. Inc. (US), EnduroSat (Bulgaria), Clyde Space Ltd (UK), Sierra Nevada Corporation (US), and others, are attempting to increase market demand by investing in research and development operations.

Virgin Orbit runs one of the most adaptable and responsive space launch systems ever developed. Sir Richard Branson founded the firm in 2017 and has already delivered commercial, civil, national security, and international satellites into orbit. Its launches have successfully placed satellites in orbit for customers in the commercial, civil, national security, and defense markets, both domestically and internationally. In January 2022, Virgin Orbit launched seven CubeSats for three customers into orbit on the third consecutive successful operational flight of their LauncherOne air-launch system. SatRevolution, a Polish smallsat company, provided two of the satellites. Spire  produced one satellite with the Austrian Space Forum and Findus Venture GmbH to measure the orbital debris environment.

SpaceX is a company that creates rockets and spaceships to make life multi-planetary. The firm designs and manufactures reusable space launch vehicles with characteristics such as a connected boot, a parachute system, numerous engines, and oxygen-based propellants, allowing clients to experience and benefit from economical spaceflights. In November 2021, SpaceX announced the successful deployment of 53 Starlink satellites in the launch of the broadband constellation. Falcon 9 was used to launch the satellites. The corporation has launched around 1,800 Starlink satellites for  coverage of satellite internet services.

Key Companies in the CubeSat market include

• 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)

CubeSatIndustry Developments

For Instance July 2022 All2Space has inked an exclusive agreement to launch a satellite constellation with Vaya Space, a hybrid vortex rocket business and growing leader in sustainable access to space. All2Space, a CubeSat producer, is launching an aggregator with a heritage from the Brazilian Space Agency that seeks to create and operate its constellation with an emphasis on Latin American activities.

For Instance September 2021 ISRO and Bhutan Telecom Authority have agreed to collaborate on developing a smallsat. Jigme Tenzing, Director General of Bhutan's Information Technology and Communication, and R Umamaheswaran, Scientific Secretary of the Indian Space Research Agency, inked the agreement.

CubeSat Market Segmentation

CubeSat Size Outlook

• 25u-1U


• 2U

CubeSat Subsystem Outlook

• Payloads


• Structures

CubeSat Application Outlook

• Earth Observation & Traffic Monitoring


• Communication

CubeSat End-User Outlook

• Commercial


• Non-Profit Organization

CubeSatRegional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Report Scope:

Report Attribute/Metric	Details
Market Size2022	USD 0.2 billion
Market Size 2023	USD 0.23 billion
Market Size 2030	USD 0.56 billion
Compound Annual Growth Rate (CAGR)	16.00% (2023-2030)
Base Year	2022
Market Forecast Period	2023-2030
Historical Data	2019- 2021
Market Forecast Units	Value (USD Billion)
Report Coverage	Market Competitive Landscape, Revenue Forecast, Growth Factors, and Trends
Segments Covered	Size, Subsystem, Application, and End-User
Geographies Covered	North America, Europe, Asia-Pacific, and the Rest of the World
Countries Covered	The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Busek Co. Inc. (US), EnduroSat (Bulgaria), Clyde Space Ltd (UK), and Sierra Nevada Corporation (US).
Key Market Opportunities	Technological advancements in CubeSat batteries
Key Market Dynamics	Economical compared to conventional satellites

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