Mid-size Satellites Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 7.67 Billion |
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Market Size (2029) | USD 14.44 Billion |
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Largest Share by Orbit Class | LEO |
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CAGR (2024 - 2029) | 13.49 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Mid-size Satellites Market Analysis
The Mid-size Satellites Market size is estimated at USD 7.67 billion in 2024, and is expected to reach USD 14.44 billion by 2029, growing at a CAGR of 13.49% during the forecast period (2024-2029).
7.67 Billion
Market Size in 2024 (USD)
14.44 Billion
Market Size in 2029 (USD)
-22.64 %
CAGR (2017-2023)
13.49 %
CAGR (2024-2029)
Largest Market by Propulsion Tech
73.93 %
value share, Liquid Fuel, 2022
Due to its high efficiency, controllability, reliability, and long lifespan, liquid fuel-based propulsion technology is an ideal choice for space missions. It can be used in various orbit classes for satellites.
Largest Market by Application
54.49 %
value share, Earth Observation, 2022
Earth observation satellites are used for weather forecasting, forestry mapping, and pollution monitoring. The growing adoption of VAS by private companies and organizations is likely to fuel the growth of satellite-based Earth observation.
Largest Market by Satellite Subsystem
25 %
value share, Propulsion Hardware and Propellant, 2022
The demand for these propulsion systems is driven by the launch of mass satellite constellations into space. They are used for transferring the spacecraft to the orbit.
Leading Market Player
70.75 %
market share, China Aerospace Science and Technology Corporation (CASC), 2022
China Aerospace Science and Technology Corporation is the largest player in the global mid-size satellites market. CASC offers a diverse range of launch vehicles and adopts a competitive pricing strategy to attract customers across the world.
Second Leading Market Player
6.18 %
market share, Airbus SE, 2022
Airbus is the second leading player in the global mid-size satellites market with a robust distribution channel.
Increased development of small and medium satellites is expected to drive the adoption rate of LEO satellites from 2023 to 2029
- Medium satellites or mid-size satellites weighing 500 to 1,000 kg are being launched in the LEO orbit and are expected to continue the same throughout the forecast period. LEO orbit occupied the majority of the market share of 85.3% in 2017.
- Depending on the type of application or mission, a particular satellite or an entire satellite constellation is launched in various types of orbit. Different satellites manufactured and launched across all the regions have different applications. For instance, during 2017-2022, out of the 167 large satellites launched, 114, 43, 8, and 2 were placed in LEO, MEO, GEO, and elliptical orbits, respectively.
- With respect to the market shares, LEO orbit is expected to lead the market, and it is expected to occupy a share of 84% in 2023 and 83.1% in 2029. The high market share is because of its close proximity and several other advantages triggered by technological developments. GEO orbit is expected to register a share of 9% in 2023, and it is anticipated to occupy a share of 7% in 2029.
- The multi-function capabilities of these satellites, such as the increasing uses of satellites in areas like electronic intelligence, Earth science/meteorology, laser imaging, optical imaging, and meteorology, are expected to drive the demand for the development of these satellites during the forecast period.
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Increased development of small and medium satellites is expected to drive the adoption rate of LEO satellites from 2023 to 2029
- The global mid-size satellite market is expected to grow at a steady pace due to the increasing demand for satellite-based services across various industries, such as telecommunications, government, and defense. North America is the largest market for mid-size satellites, with the United States being the major contributor. The US government is the major customer of mid-size satellites for military and intelligence purposes. The European mid-size satellite market is driven by the increasing demand for satellite-based navigation services, particularly in the automotive and transportation industries. The Asia-Pacific mid-size satellite market is being driven by a growing demand for satellite-based telecommunications and remote sensing services. The mid-size satellite market in the Rest of the World is also experiencing growth due to the increasing demand for satellite-based communications in rural and remote areas.
- The global mid-size satellite market is witnessing several trends, including the development of miniaturized satellite components and more efficient propulsion systems. The miniaturization of satellite components is reducing the cost of manufacturing and launching mid-size satellites. This is expected to increase the demand for mid-size satellites, particularly in developing countries. The market is also driven by the increasing investments by governments and private companies in the space industry. Overall, the market is expected to continue its steady growth in the coming years, driven by increased demand for satellite-based services across various industries and regions. The market is also expected to be fueled by advancements in satellite technology, including the development of miniaturized satellite components.
Global Mid-size Satellites Market Trends
Growing demand for Earth observation, imaging, and connectivity services is expected to surge the research and development expenditure in the mid size satellites category
- Over recent years, there has been a significant increase in the number of mid-size satellite missions launched and in development globally. This is largely due to advances in technology that have made it more affordable and accessible to build and launch these types of satellites. As a result, R&D expenditure in this area has been growing steadily. European countries are recognizing the importance of various investments in the space domain and are increasing their spending in areas such as Earth observation, satellite navigation, connectivity, space research, and innovation to stay competitive and innovative in the global space industry.
- In November 2022, ESA announced that it had proposed a 25% boost in space funding over the next three years designed to maintain Europe's lead in Earth observation, expand navigation services, and remain a partner in exploration with the United States. The European Space Agency (ESA) is requesting its 22 nations to back a budget of EUR 18.5 billion for 2023-2025. Likewise, in September 2022, France announced that it was expecting to increase spending on national and European space programs as the European Space Agency works to secure commitments for its own significant budget increase. The government announced that it planned to allocate more than USD 9 billion to space activities, an increase of about 25% over the past three years.
- During 2017-2022, around 320+ satellites were manufactured and launched globally. Overall, the mid-sized satellite market is expected to continue to grow, driven by the growing demand for Earth observation, imaging, and connectivity services.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The trend of for better fuel and operational efficiency is expected to positively impact the market
Mid-size Satellites Industry Overview
The Mid-size Satellites Market is fairly consolidated, with the top five companies occupying 81.92%. The major players in this market are Airbus SE, China Aerospace Science and Technology Corporation (CASC), Northrop Grumman Corporation, OHB SE and Thales (sorted alphabetically).
Mid-size Satellites Market Leaders
Airbus SE
China Aerospace Science and Technology Corporation (CASC)
Northrop Grumman Corporation
OHB SE
Thales
Other important companies include Indian Space Research Organisation (ISRO), ROSCOSMOS.
*Disclaimer: Major Players sorted in alphabetical order.
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Mid-size Satellites Market News
- January 2023: The Northrop Grumman Corporation's ESPA (LDPE)-3A long-time propulsion spacecraft successfully launched in support of USSF-67. This spacecraft enhances rapid space access for the US Space Force and marks the third successful launch for the LDPE program.
- November 2022: India's Polar Satellite Launcher, on its 51st flight (PSLV-C49), successfully launched EOS-01. EOS-01 is an Earth observation satellite, intended for applications in agriculture, forestry and disaster management assistance.
- September 2022: China has successfully sent two BeiDou satellites (BDS) into space from the Xichang Satellite Launch Center. The new satellites and boosters were developed by the China Academy of Space Technology (CAST) and the China Academy of Launch Vehicle Technology, under the China Aerospace Science and Technology Corporation.
Free with this Report
We offer a comprehensive set of global and local metrics that illustrate the fundamentals of the satellites industry. Clients can access in-depth market analysis of various satellites and launch vehicles through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on satellite launches, satellite mass, application of satellites, spending on space programs, propulsion systems, end users, etc., are available in the form of comprehensive reports as well as excel based data worksheets.
Mid-size Satellites Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Satellite Mass
- 4.2 Spending On Space Programs
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4.3 Regulatory Framework
- 4.3.1 Global
- 4.3.2 Australia
- 4.3.3 Brazil
- 4.3.4 Canada
- 4.3.5 China
- 4.3.6 France
- 4.3.7 Germany
- 4.3.8 India
- 4.3.9 Iran
- 4.3.10 Japan
- 4.3.11 New Zealand
- 4.3.12 Russia
- 4.3.13 Singapore
- 4.3.14 South Korea
- 4.3.15 United Arab Emirates
- 4.3.16 United Kingdom
- 4.3.17 United States
- 4.4 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Application
- 5.1.1 Communication
- 5.1.2 Earth Observation
- 5.1.3 Navigation
- 5.1.4 Space Observation
- 5.1.5 Others
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5.2 Orbit Class
- 5.2.1 GEO
- 5.2.2 LEO
- 5.2.3 MEO
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5.3 End User
- 5.3.1 Commercial
- 5.3.2 Military & Government
- 5.3.3 Other
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5.4 Propulsion Tech
- 5.4.1 Electric
- 5.4.2 Gas based
- 5.4.3 Liquid Fuel
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5.5 Region
- 5.5.1 Asia-Pacific
- 5.5.2 Europe
- 5.5.3 North America
- 5.5.4 Rest of World
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Airbus SE
- 6.4.2 China Aerospace Science and Technology Corporation (CASC)
- 6.4.3 Indian Space Research Organisation (ISRO)
- 6.4.4 Northrop Grumman Corporation
- 6.4.5 OHB SE
- 6.4.6 ROSCOSMOS
- 6.4.7 Thales
7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter's Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- GLOBAL MID-SIZE SATELLITES MARKET, VALUE, USD, 2017 - 2029
- Figure 2:
- VALUE OF MID-SIZE SATELLITES MARKET BY APPLICATION, USD, GLOBAL, 2017 - 2029
- Figure 3:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY APPLICATION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 4:
- VALUE OF COMMUNICATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 5:
- VALUE OF EARTH OBSERVATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 6:
- VALUE OF NAVIGATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 7:
- VALUE OF SPACE OBSERVATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 8:
- VALUE OF OTHERS MARKET, USD, GLOBAL, 2017 - 2029
- Figure 9:
- VALUE OF MID-SIZE SATELLITES MARKET BY ORBIT CLASS, USD, GLOBAL, 2017 - 2029
- Figure 10:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY ORBIT CLASS, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 11:
- VALUE OF GEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 12:
- VALUE OF LEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 13:
- VALUE OF MEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 14:
- VALUE OF MID-SIZE SATELLITES MARKET BY END USER, USD, GLOBAL, 2017 - 2029
- Figure 15:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY END USER, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 16:
- VALUE OF COMMERCIAL MARKET, USD, GLOBAL, 2017 - 2029
- Figure 17:
- VALUE OF MILITARY & GOVERNMENT MARKET, USD, GLOBAL, 2017 - 2029
- Figure 18:
- VALUE OF OTHER MARKET, USD, GLOBAL, 2017 - 2029
- Figure 19:
- VALUE OF MID-SIZE SATELLITES MARKET BY PROPULSION TECH, USD, GLOBAL, 2017 - 2029
- Figure 20:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY PROPULSION TECH, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 21:
- VALUE OF ELECTRIC MARKET, USD, GLOBAL, 2017 - 2029
- Figure 22:
- VALUE OF GAS BASED MARKET, USD, GLOBAL, 2017 - 2029
- Figure 23:
- VALUE OF LIQUID FUEL MARKET, USD, GLOBAL, 2017 - 2029
- Figure 24:
- VALUE OF MID-SIZE SATELLITES MARKET BY REGION, USD, GLOBAL, 2017 - 2029
- Figure 25:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 26:
- VALUE OF MID-SIZE SATELLITES MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY APPLICATION, %, ASIA-PACIFIC, 2017 - 2029
- Figure 28:
- VALUE OF MID-SIZE SATELLITES MARKET, USD, EUROPE, 2017 - 2029
- Figure 29:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY APPLICATION, %, EUROPE, 2017 - 2029
- Figure 30:
- VALUE OF MID-SIZE SATELLITES MARKET, USD, NORTH AMERICA, 2017 - 2029
- Figure 31:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY APPLICATION, %, NORTH AMERICA, 2017 - 2029
- Figure 32:
- VALUE OF MID-SIZE SATELLITES MARKET, USD, REST OF WORLD, 2017 - 2029
- Figure 33:
- VALUE SHARE OF MID-SIZE SATELLITES MARKET BY APPLICATION, %, REST OF WORLD, 2017 - 2029
- Figure 34:
- NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, GLOBAL MID-SIZE SATELLITES MARKET, ALL, 2017 - 2029
- Figure 35:
- TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, GLOBAL MID-SIZE SATELLITES MARKET, ALL, 2017 - 2029
- Figure 36:
- MARKET SHARE OF GLOBAL MID-SIZE SATELLITES MARKET, %, ALL, 2022
Mid-size Satellites Industry Segmentation
Communication, Earth Observation, Navigation, Space Observation, Others are covered as segments by Application. GEO, LEO, MEO are covered as segments by Orbit Class. Commercial, Military & Government are covered as segments by End User. Electric, Gas based, Liquid Fuel are covered as segments by Propulsion Tech. Asia-Pacific, Europe, North America are covered as segments by Region.
- Medium satellites or mid-size satellites weighing 500 to 1,000 kg are being launched in the LEO orbit and are expected to continue the same throughout the forecast period. LEO orbit occupied the majority of the market share of 85.3% in 2017.
- Depending on the type of application or mission, a particular satellite or an entire satellite constellation is launched in various types of orbit. Different satellites manufactured and launched across all the regions have different applications. For instance, during 2017-2022, out of the 167 large satellites launched, 114, 43, 8, and 2 were placed in LEO, MEO, GEO, and elliptical orbits, respectively.
- With respect to the market shares, LEO orbit is expected to lead the market, and it is expected to occupy a share of 84% in 2023 and 83.1% in 2029. The high market share is because of its close proximity and several other advantages triggered by technological developments. GEO orbit is expected to register a share of 9% in 2023, and it is anticipated to occupy a share of 7% in 2029.
- The multi-function capabilities of these satellites, such as the increasing uses of satellites in areas like electronic intelligence, Earth science/meteorology, laser imaging, optical imaging, and meteorology, are expected to drive the demand for the development of these satellites during the forecast period.
| Application | Communication |
| Earth Observation | |
| Navigation | |
| Space Observation | |
| Others | |
| Orbit Class | GEO |
| LEO | |
| MEO | |
| End User | Commercial |
| Military & Government | |
| Other | |
| Propulsion Tech | Electric |
| Gas based | |
| Liquid Fuel | |
| Region | Asia-Pacific |
| Europe | |
| North America | |
| Rest of World |
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Market Definition
- Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
- End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
- Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
- Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
- Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
| Keyword | Definition |
|---|---|
| Attitude Control | The orientation of the satellite relative to the Earth and the sun. |
| INTELSAT | The International Telecommunications Satellite Organization operates a network of satellites for international transmission. |
| Geostationary Earth Orbit (GEO) | Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky. |
| Low Earth Orbit (LEO) | Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface. |
| Medium Earth Orbit (MEO) | MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit. |
| Very Small Aperture Terminal (VSAT) | Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter |
| CubeSat | CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. |
| Small Satellite Launch Vehicles (SSLVs) | Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage |
| Space Mining | Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects. |
| Nano Satellites | Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms. |
| Automatic Identification System (AIS) | Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures. |
| Reusable launch vehicles (RLVs) | Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle. |
| Apogee | The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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