Space is an accessible place

Amsterdam, NL - April 04, 2022 -

Today, space is an accessible place. The progress of space launch vehicle technology and the rise of small satellites have meant that SMEs, startups, big companies and developing countries can move into space in an inexpensive way and within short periods of time. Therefore, they are now in a position to compete with existing players in the space industry. It's what is acknowledged as the New Space age.

Several private operators worldwide plan to build small satellite capacities and install large constellations in low earth orbit (LEO) to provide low-cost images and affordable global connectivity solutions. Market Forecast expects small satellite manufacturing companies and spacecraft launch companies to deploy innovative solutions throughout the value chain, including supply chain, launch and manufacturing.

Business prospects from small-satellite technology are never-ending: from a “space ambulance” that can rescue a crashing spacecraft to machines that can gauge the oil level in a tanker from space. As small satellites grow in both utility and capabilities, major multi-national companies, governments, defence departments and their accompanying agencies are showing interest not just in conventional launch services, but also in “launch on demand” services.

The constant decreases in the price to launch small satellites into orbit has inspired many start-ups to enter the space industry. As cost barriers continues to go down, and the space market unwraps further, novel business models will become the new norm.

Small satellites have progressed from a humble technology demonstrator platform to an affordable downstream service across the industry. And this has led to a significant increase in demand for their services.

Amsterdam based Market Forecast’s latest report “Small Satellites - Market and Technology Forecast to 2029” examines, analyzes, and forecasts the evolution of small sat technologies, markets, and outlays (expenditures) over the next 8 years – 2021 -2029 in the space industry.  It also examines small sat markets geographically, focusing on the top 95% of global markets, in the United States, Europe, and Asia.

Throughout the report they show how small sats are used today to add real value. To provide the most thorough and realistic forecast, this report provides a twin-scenario analysis, including “steady state”, emergence of new small sat technology.

In this report Market Forecast classified small satellite industry under 5 major groups (Region, Technology, Application, Platform, Launch Type, End User). We will research these six major groups and also provide forecast figures from 2021 – 2029.