Luxembourg, 11 November 2020. – The market for small satellites is growing exponentially in the next decade, the latest Euroconsult smallsat report found.
In its “Prospects for the Small Satellite Market”, Euroconsult forecasts that two mega-constellations will account for half of the smallsats to be launched between 2020 and 2029, yet only for one fifth of the total smallsat market value due to economies of scale, mass manufacturing and batch launches.
The 2020s are predicted to be the decade of small satellites with an annual average of 1,000 smallsats to be launched, Euroconsult said. In 2019, the number of smallsat launches amounted to 385, generating a market value of $2.8 billion, the study found, of which 70 percent was for the manufacturing and 30 percent for the launches.
“From 2020 to 2029, the smallsat market value is projected to reach $51 billion, of which $33 billion for manufacturing and $18 billion for launch,” Euroconsult said. “This is more than four times the market size of the previous decade.”
The report also addresses the impact of COVID-19 on the small satellite industry and provides updated analysis of the ongoing uncertainties related to the pandemic, smallsat constellations and the OneWeb situation.
