North America Small Satellite Market Size

North America Small Satellite Market Analysis

The North America Small Satellite Market size is estimated at USD 147.25 billion in 2024, and is expected to reach USD 222.08 billion by 2029, growing at a CAGR of 8.57% during the forecast period (2024-2029).

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147.25 Billion

Market Size in 2024 (USD)

222.08 Billion

Market Size in 2029 (USD)

146.61 %

CAGR (2017-2023)

8.57 %

CAGR (2024-2029)

Largest Market by Satellite Subsystem

25 %

value share, Solar Array & Power Hardware, 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 into orbit.

Largest Market by Application

95.62 %

value share, Communication, 2022

Governments, space agencies, defense agencies, private defense contractors, and private space industry players are emphasizing the enhancement of the communication network capabilities for various public and military reconnaissance applications.

Largest Market by Orbit Class

99.74 %

value share, LEO, 2022

LEO satellites are increasingly being adopted in modern communication technologies as they play an important role in Earth observation applications.

Leading Market Player

99.15 %

market share, Space Exploration Technologies Corp, 2022

SpaceX is the leading player in the global satellite manufacturing market and maintains its market share globally through its Starlink project in over 53 countries. The company produces 120 satellites per month.

Second Leading Market Player

0.17 %

market share, Capella Space Corp., 2022

Capella Space is the second-leading company in the market. It is developing space-based radar Earth observation satellites equipped with synthetic-aperture radar that can penetrate clouds and work at night.

LEO satellites are driving the demand for small satellites

North America Small Satellite 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.

• During launch, a satellite or spacecraft is usually placed into one of many special orbits around the Earth, or it can be launched into an interplanetary journey. There are three types of Earth orbits, namely, geostationary orbit (GEO), medium Earth orbit, and low Earth orbit. Many weather and communication satellites tend to have high Earth orbits farthest from the surface. Satellites in medium Earth orbit include navigational and specialized satellites designed to monitor a specific area. Most science satellites, including NASA's Earth Observation System, are in low Earth orbit.
• The small satellite market is experiencing strong growth, driven by the increasing demand for LEO satellites, which are used for communication, navigation, Earth observation, military reconnaissance, and scientific missions. Between 2017 and 2022, around 2,900 small LEO satellites were manufactured and launched in North America alone, primarily for communication purposes. This has led companies such as SpaceX, OneWeb, and Amazon to plan the launch of thousands of satellites into LEO. With the rising demand for low Earth orbit from various sectors like Earth observation, navigation, meteorology, and military communications, the region has witnessed an increase in the number of LEO satellite launches.
• The military's use of MEO and GEO satellites has grown in recent years due to their advantages, including increased signal strength, improved communications and data transfer capabilities, and greater coverage area. For instance, Raytheon Technologies’ and Boeing's Millennium Space Systems are developing the first prototype Missile Track Custody (MTC) MEO OPIR payloads to detect and track hypersonic missiles for the US Space Force.