North America Small Satellite Market

The North America small satellite market is expected to grow from US$ 1,325.42 million in 2022 to US$ 4,976.36 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2022 to 2028.

Growing Support for Development of Small Satellite

Various government authorities and companies across the North America have invested in the small satellite market owing to the increasing need for small satellites for various applications such as earth observation, communication and navigation, and scientific research. In November 2021, Fleet Space Technologies raised US$ 26 million in funds to expand the nanosatellite IoT connectivity fleet. Such investments from governments drive the growth of the small satellite market. The use of small satellites helps government authorities maintain national security, capture data regarding areas damaged by earthquakes or floods, monitor suspicious ships, and serve other purposes such as communication & navigation, earth observation, and scientific research operations. The governments of various countries are supporting the development of small satellites for earth observation. Under the project, the government announced that they would support the companies for quick construction and domestic production of a small satellite. Thus, the increasing initiatives for the development of small satellites fuel the growth of the small satellite market.

Market Overview

The North America small satellite market based on country, is segmented into the US, Canada, and Mexico. The demand for small satellites is increasing across North America owing to its rise in applications such as earth and space observation; IoT and communications; asset tracking; science and environment; and security, defense, and national space programs. Also, fleet management companies across North America are increasingly utilizing small satellites for real-time tracking of their huge commercial fleet, thereby reducing the risk of theft and downtime of vehicle by offering quick responses to vehicle failures. Such factors are catalyzing the demand for new small satellites across the space satellite sector. The small satellites are being launched for applications such as communication and isle tracking across the US. Such factors are driving the growth of the North America small satellite market.

North America Small Satellite

Market Revenue and Forecast to 2028 (US$ Million)

North America Small Satellite Strategic Insights

Strategic insights for the North America Small Satellite provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Small Satellite Report Scope

North America Small Satellite Regional Insights

The geographic scope of the North America Small Satellite refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Small Satellite

Market Segmentation

The North America small satellite market is segmented based on type, payload, application, vertical, and country.  

Based on type, the North America small satellite market is bifurcated into nanosatellite (1 to 10 Kg) and microsatellite (10 to 150 Kg). The microsatellite (10 to 150 Kg) segment held a larger market share in 2022.

Based on payload, the North America small satellite market is segmented into automatic identification system (AIS), transmitter, imaging devices, and others. The automatic identification system (AIS) segment held the largest market share in 2022.

Based on application, the North America small satellite market is segmented into earth observation, communication and navigation, and scientific research. The earth observation segment held the largest market share in 2022.

Based on vertical, the North America small satellite market is segmented into government, military, and commercial. The commercial segment held the largest market share in 2022.

Based on country, the North America small satellite market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.

GomSpace Group AB; Lockheed Martin Corp; Northrop Grumman Corp; Raytheon Technologies Corp; Sierra Nevada Corp; Swarm Technology Inc; and Thales SA are the leading companies operating in the North America small satellite market.