Lake Balaton / Paris / Washington D.C. / Montreal / Yokohama / Sydney, 14 July 2022. – Euroconsult published the latest update of “Prospects for the Small Satellite Market” forecasting further growth in the global supply and demand of small satellites weighing a maximum of 500 kg.
The 8th edition of the market intelligence report expects about 18,500 smallsats to be launched over the next decade. This means approximately 365 tons annually, or one ton per day. Nonetheless, the smallsat market faces challenges such as high inflation, difficult profitability, oversupply risk and concentration of the market.
The global strategy consulting and market intelligence firm anticipates that stakeholders will face a difficult situation in the near future. This could mean smaller constellations, cancelled projects, scope reductions, as well as consolidation between players.
81% of smallsats to be launched in the next 10 years is expected to be part of constellations. The main driver for continued growth is non-geostationary orbit satellite constellations, led by low Earth orbit broadband and Earth observation. Such constellations include SpaceX’s Starlink and China’s GuoWang, which account for about 53% of the estimated demand.
Euroconsult claims that both the smallsat manufacturing and launch market values will quadruple to US $56 billion and US $29 billion respectively.