Market Trends of north america small satellite Industry
A trend of using better fuel and operational efficiency has been witnessed
- Satellites are getting smaller nowadays. A small satellite can do almost everything as a conventional satellite at a fraction of the cost, thus making the building, launching, and operation of the small satellite constellations increasingly viable. The reliance on small satellites has also been growing exponentially. Small satellites typically have shorter development cycles, smaller development teams, and cost much lesser for launch. Revolutionary technological advancements facilitated the miniaturization of electronics, which pushed the invention of smart materials, reducing the satellite bus size and mass over time for manufacturers.
- Satellites are classified according to mass. The satellites with a mass of less than 500 kg are considered small satellites, and around 2,900+ small satellites were launched in the region during the historical period. There is a growing trend toward small satellites in the region due to their shorter development time, which can reduce overall mission costs. They have significantly reduced the time required to obtain scientific and technological results. Small spacecraft missions tend to be flexible and more responsive to new technological opportunities or needs. The small satellite industry in the United States is supported by the presence of a robust framework for designing and manufacturing small satellites tailored to serve specific application profiles. The number of small satellite operators in North America is expected to surge during 2023-2029 due to the growing demand in the commercial and military space sectors.
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The increasing space expenditures of different space agencies are expected to impact the North American small satellite market positively
- In North America, government expenditure for space programs hit a record of approximately USD 103 billion in 2021. The region is the epicenter of space innovation and research, with the presence of the world's biggest space agency, NASA. In 2022, the US government spent nearly USD 62 billion on its space programs, making it the highest spender on space in the world.
- The United States is one of the leading countries globally in terms of satellite development and launches. Owing to the immense potential in several aspects of commercial and defense applications, the use of satellites has gained substantial acceptance in the country. The country has many satellites orbiting in space to serve its commercial and defense needs. In December 2022, Planet Labs announced that it had manufactured 36 SuperDove satellites, scheduled for launch using SpaceX's Falcon-9 rocket. Each SuperDove satellite weighs approximately 6 kg, and the data collected by these satellites are expected to provide organizations in agriculture, government, civilian agencies, and other industries to make informed decisions.
- In November 2022, NASA announced that it is planning to launch four CubeSats under the TROPICS mission. These satellites weigh approximately 5.3 kg and are developed to provide rapidly updating observations of storm intensity, as well as the horizontal and vertical structures of temperature and humidity within the storms and in their surrounding environment. The data collected is expected to help scientists better understand the processes that affect these high-impact storms, ultimately leading to improved modeling and prediction.
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