Small Satellite Market Overview 2023-2030
The forecast for the global small satellite market indicates significant growth during the projected period. In 2021, the market was valued at USD 4.90 billion, and it is expected to reach USD 12.02 billion by 2029, with a compound annual growth rate (CAGR) of 11.53%. The year 2022 is estimated to witness a market value of USD 5.60 billion. The COVID-19 pandemic has played a role in driving higher demand for small satellites across all regions, surpassing pre-pandemic levels. In 2020, the market experienced a growth rate of 10.2% compared to 2019.