CubeSat Market Research Report Information By Size (0.25U to 1U, 1 to 3U, 3U to 6U, 6U to 12U, and 12U & above) Application (earth observation & traffic monitoring, science technology and education, space observation, communication and others), Subsystem (payloads, structures, electrical power systems, command and data handling, propulsion systems, attitude determination and control systems others), End-user (government and military, commercial and non-profit organizations), and By Region (North America, Europe, Asia-Pacific, Middle East &

Global CubeSat Market Overview

CubeSat Market Size was valued at USD 240.4 million in 2022. The CubeSat industry is projected to grow from USD 272.9 million in 2023 to USD 1,045.5 million by 2032, exhibiting a compound annual growth rate (CAGR) of 16.1% during the forecast period (2023 - 2032). 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.

CubeSat Market SIZE (USD MILLION) (2018-2032)

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

CubeSat Market Trends

• Growing technological advancements in CubeSat

Modern satellites are being designed for new uses including space mining and trash clearance, while CubeSat capabilities and usefulness are growing as a result of developments in electronics and communications technology. A number of private corporations have already started operations to harvest minerals, energy sources, and water that are present in space. The most cutting-edge CubeSats are made to dissolve as soon as their mission is finished and hit the Earth's atmosphere, preventing them from adding to the build-up of space junk. One of the biggest challenges to launching satellites and spacecraft is space junk.

Small satellites are working on continuing programmes to develop their debris-removal capabilities in response to the major players' expanding initiatives. For instance, the RemoveDebris project seeks to carry out crucial active debris removal (ADR) technological testing in order to identify the best techniques for clearing space debris. During the forecast period, it is predicted that the use of CubeSats in delivering new solutions would drive the CubeSat Markets market

CubeSat Segment Insights:

CubeSat Size Insights

The CubeSat segmentation, based on size, includes 0.25U to 1U, 1 to 3U, 3U to 6U, 6U to 12U, and 12U & above. Among them, 1 to 3U segment is the largest segment of the market accounting for 68.09% of the global market in 2022.

One cubic foot is one unit, or 1U, of volume. It is employed to gauge a spacecraft's internal volume. The 1U CubeSat's purpose in space determines its size and shape. It will be larger than other satellites with only antennae or cameras if it contains research equipment. Depending on how they are used, CubeSats have different markets; some are test platforms.

The space between a CubeSat's outermost layers and its equipment is referred to as 2U in this context. Each launch may carry more mass or payload due to the 2U design, which enables mounting more equipment on a given amount of space. Spreading the system's components into two distinct modules also aids in decreasing dependability concerns and enhancing mission designers' design freedom.

For CubeSats, there is a size category called 3U. A typical 3U CubeSat weighs about 4.5 kg and has dimensions of 10x10x30 cm. Due to their bigger size, they are more complicated than 1U or 2U CubeSats, but they still offer a lot of design and payload options. Applications including Earth observation, communication, and scientific research frequently make use of 3U CubeSats.

CubeSat Market SIZE (USD MILLION) Size 2022 VS 2032

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

CubeSat Application Insights

According to application, the segment is divided into earth observation & traffic monitoring, science technology and education, space observation, communication and others. Further, Earth Observation & Traffic Monitoring segmented held the largest market share in terms of revenue in 2022.

The market is dominated by earth observation and traffic monitoring. To better comprehend the world's current living conditions and to make them better, research into agriculture, geology, forests, and the environment is crucial. To meet the needs for Earth observation, numerous CubeSat systems equipped with diverse spectral, radiometric, and spatial sensors were successfully launched over a number of years.

Moreover, the growing demand for earth observation & traffic monitoring and technology industries is the main factor driving the worldwide CubeSat market. Due to their inexpensive cost and quick development using tried-and-true standard equipment and off-the-shelf components, they are gaining popularity all over the world. Governments and private businesses are both investing a lot of money in the CubeSat market to build and test satellites quickly for the exploration of new technologies and concepts. It also supports current network technology by providing sophisticated logistics management solutions.

CubeSat Market SIZE (USD MILLION) application 2022 VS 2032

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

CubeSat Subsystem Insights

The CubeSat market research segmentation, by subsystem, the market is segmented into payloads, structures, electrical power systems, command and data handling, propulsion systems, attitude determination and control systems others. Payload segment is dominating market in terms of revenue share over the forecasted period.

Payloads for CubeSats are necessary for space missions. Hyperspectral, multispectral, optical, and panchromatic cameras are just a few examples of the payloads that CubeSats can carry during these missions. Further, the electric propulsion systems (EPS) have emerged as one of the newest CubeSat propulsion technologies, with gridded ion thrusters and Halltype being the most well-liked of these systems. 

CubeSat Market SIZE (USD MILLION) subsystem 2022 VS 2032

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

CubeSat End-user Insights

By End-user, the market is segmented into government and military, commercial and non-profit organizations. Commercial segment is the largest segment accounting for 59.74% of the global market in 2022 and is expected to dominate in terms of CAGR over the anticipated period.

As satellite components' weights have fallen, their costs have decreased, and they have become more standardized, commercial usage of CubeSats has dramatically increased in recent years. Small satellites are used in this sector in the fields of agriculture, forestry, energy, media & entertainment, civil engineering, and archaeology.

CubeSat SIZE (USD MILLION) end-user 2022 VS 2032

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

CubeSat Market Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South and Central America.

North America accounted for the largest share of revenue in 2022. The North American CubeSats market is being driven by the most significant frequency of commercial CubeSat launches, as well as the introduction of new enterprises that are propelling the sector's growth. Leading manufacturers are expanding the market in the region due to their presence. As one leading expert in CubeSat technology, Tyvak Inc., carries out feasibility studies by offering mission design and analysis, along with engineering support, which is further boosting the growth of the CubeSats market throughout the region during the forecasting year. These services are beneficial for mission compatibility.

CubeSat Market SIZE (USD MILLION) REGION 2022 VS 2032

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

Further, the countries considered in the scope of the CubeSat are the US, Canada, Mexico, Germany, UK, Italy, Spain, China, India, Japan, South Korea, South Africa, Brazil, Argentina.

The Asia Pacific region is expected to have the largest market CAGR in the CubeSat market. The region's self-motivated techniques of risk management amid natural disasters are fueling the increased need for SmallSats in this region. Demand for CubeSats is predicted to rise over the forecast period due to the development and growing investments of new satellite systems. According to the China National Space Administration, China is making significant investments in its space-based capabilities, and the government plans to launch roughly 100 satellites by 2025 and establish itself as a major space power by 2045.

The launch of low cast tiny satellites into space is one of several steps being taken by the governments to improve broadcast, remote sensing, and communication and navigation applications. The Middle East and Africa's CubeSat market is mostly expanding in the United Arab Emirates and Saudi Arabia.

One of the major markets for CubeSats worldwide is South America. Some of the major growth factors for the Latin American small satellite market include the demand for low-cost satellites across industries, the ongoing requirement for continuous earth surveillance, greater investment by venture companies, and advancement in material technology.

CubeSat Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help CubeSat grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the CubeSat industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major players in the market include Lockheed Martin Corporation, Sierra Nevada Corporation, The Boeing Company, GomSpace, L3Harris Technologies, OHB SE, Capella Space, Clyde Space Ltd, Airbus S.A.S, Tyvak Nano-Satellite Systems Inc., Busek Co. Inc., CU Aerospace L.L.C., Maxar Technologies, EnduroSat, and Planet Labs Inc. The Boeing Company is focused on leveraging business opportunities in the global market. The company develops innovative products and solutions by investing extensively in R&D to increase its global market share. It also focuses on strategic contracts, and partnerships with other players in the value chain to offer combined solutions to increase its regional presence.

Key Companies in the CubeSat include

• Lockheed Martin Corporation


• Sierra Nevada Corporation


• The Boeing Company


• GomSpace


• L3Harris Technologies


• OHB SE


• Capella Space


• Clyde Space Ltd


• Airbus S.A.S


• Tyvak Nano-Satellite Systems Inc.


• Busek Co. Inc.


• CU Aerospace L.L.C.


• Maxar Technologies


• EnduroSat


• Planet Labs Inc

CubeSat Industry Developments

September 2022: Airbus and In-Space Missions collaborated on the design and development of the Prometheus 2 satellites. It has passed environmental and vibration testing. The Defense Science and Technology Laboratory (Dstl) owns the Prometheus 2 cubesats on behalf of the Ministry of Defense (MOD). Airbus Defence and Space co-funded them, with In-Space Missions Ltd leading the construction.

August 2022: Capella Space, a leading Earth observation company, has announced several new capabilities for its next-generation satellites. This new generation of Capella satellites, dubbed "Acadia" technology, will expand the existing Capella constellation to provide the highest quality imagery, best ground-range resolution, and fastest order-to-delivery speeds of any commercial SAR provider.

August 2021: The Lockheed Martin In-space Upgrade Satellite System (LINUSS) successfully completed environmental testing, demonstrating how small CubeSats can regularly upgrade satellite constellations to add timely new capabilities and extend spacecraft design lives.

CubeSat Market Segmentation:

CubeSat Size Outlook (USD Million, 2018-2032)

• 25U to 1U


• 1 to 3U


• 3U to 6U


• 6U to 12U


• 12U & above

CubeSat Application Outlook (USD Million, 2018-2032)

• Earth Observation & Traffic Monitoring


• Science Technology and Education


• Space Observation


• Communication


• Others

CubeSat Subsystem Outlook (USD Million, 2018-2032)

• Payloads


• Structures


• Electrical Power Systems


• Command and Data Handling


• Propulsion Systems


• Attitude Determination and Control System


• Others

CubeSat End-user Outlook (USD Million, 2018-2032)

• Government And Military


• Commercial


• Non-Profit Organizations

CubeSat Regional Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


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


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


• 
  Middle East & Africa
  
  
  
  • Middle East
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  


• 
  South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of South America