CubeSat Market: Global Industry Analysis and Forecast (2024-2030)

  • CubeSat Market size was valued at USD 450 Mn. in 2023 and the CubeSat revenue is expected to grow at a CAGR of 14.8% from 2024 to 2030, reaching nearly USD 1182.51 Mn. by 2030.

  • Format : PDF | Report ID : SMR_2032

CubeSat Market Overview:

A CubeSat is a class of small satellite with a form factor of 10 cm (3.9 in) cubes. CubeSats have a mass of no more than 2 kg (4.4 lb.) per unit, and often use commercial off-the-shelf (COTS) components for their electronics and structure. CubeSats are deployed into orbit from the International Space Station, or launched as secondary payloads on a launch vehicle. As of December 2023, more than 2,300 CubeSats have been launched. Because of their small size and lightness, CubeSats are an excellent choice for exploring future ideas and devices since they can be assembled and tested rapidly for suitability.

 

The same aspects allow CubeSats to be produced relatively fast. CubeSats are very small satellites compared with traditional ones, and are fabricated, tested and launched at ease. As more players enter the market and innovation continues, the CubeSat sector is poised for continued growth, fostering new opportunities for both established aerospace companies and emerging startups.

 

The CubeSat market provides market size, share, scope, growth, and potential of the industry. It offers valuable in application to help businesses identify opportunities and potential risks within the market. Also the global CubeSat market research reports provide detailed analysis of market conditions, trends, challenges, and recommendations for stakeholders in the industry.

CubeSat Market

 

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CubeSat Market Dynamics:

CubeSat Revolution Driving Global Market Growth through Innovation and Cost Efficiency

One of the key factors driving the global market is the rapidly increasing use of CubeSats for activities linked with earth observation, communication, science and technology. Moreover, significant investments have been made in CubeSat by regulatory bodies and private firms to quickly fabricate, evaluate and experiment on new technologies and developments in satellite technology. Usually, CubeSat missions are carried out on a very tight budget. Sections Non-space components are frequently accepted and used in CubeSat missions. This makes it possible to employ the newest commercial and industrial grade components and execute solutions at a reduced cost and in a shorter amount of time.

 

The cheaper cost of CubeSats compared to regular satellites is another important advantage. CubeSats are typically much cheaper to create compared to customary satellites whose usual creation cost range stands at between $5,000 and $50,000 dollars per one cube satellite (CubeSat). In comparison, ten GPS satellites cost the USAF approximately five hundred seventy-seven million dollars in 2018, translated to roughly fifty eight million dollars for each.    

 

Challenges Facing the CubeSat Market

Addressing Challenges in Size, Technology, and Lifespan

There are certain challenges for CubeSats over conventional satellites. The main challenge of CubeSats is their simplicity. One of the main architectural limitations facing CubeSat developers is space. A CubeSat's limited size significantly restricts the kinds of technologies that can be installed on board. Propulsion systems, for instance, are rather common in regular satellites but incredibly uncommon in CubeSats. Because of this, the reach of CubeSat missions constrained in comparison to the capabilities of other conventional satellites. The short operating time of CubeSats is another drawback.

 

Most CubeSats only have a one- to five-year operational lifespan. On the other hand, the majority of conventional satellites are designed to last for a minimum of 5 to 15 years, and they continue to work for up to 25 years after the fact. It is challenging to carry out missions that call for a satellite  to  be  active  for  extended  periods  of  time  due  to  the  short  lifespan  of  a  CubeSat.  

 

CubeSat Market Segment Analysis:

By Size, The CubeSat market section analysis by means of size well-known shows a diverse landscape shaped with the aid of various challenge requirements and technological capabilities. Nano and Pico CubeSats, generally starting from 1U to 3U, dominate the market because of their value-effectiveness and suitability for a huge range of packages that include generation demonstration, academic functions, and scientific studies. These smaller CubeSats provide agility and versatility, making them famous among universities, startups, and emerging space players.

 

However, as venture requirements develop more complex, large CubeSats, inclusive of 6U and 12U configurations, are gaining traction, specifically in missions requiring higher payload ability and superior instrumentation like excessive-decision imaging and telecommunications. In spite of their better fee and complexity, those large CubeSats cater to the evolving wishes of industrial, governmental, and military applications, increasing the market's scope and using innovation in CubeSat generation.

CubeSat Market1

CubeSat Market Regional Insight:

In 2022, North America has the highest revenue share because it has more commercial CubeSat launches and have leading companies that made the decision to launch their goods. The geographical segmentation of CubeSat market includes North America, Europe, Asia Pacific, Middle East & Africa, South and Central America. The growth of Europe has increased use of satellites for environmental monitoring and the rise in demand for small satellites. In Asia Pacific, significant growth is expected in the forecast duration.

 

CubeSat Market Competitive Landscape:

  • In April 2023, the European Space Agency (ESA) announced that it is planning to launch a constellation of 30 CubeSats to study the Sun. The satellites will be launched in 2025 as part of ESA's Solar Orbiter mission.

 

  • In March 2023, NASA announced that it is planning to launch a constellation of 12 CubeSats to study the Moon. The satellites will be launched in 2024 as part of NASA's Artemis program.

 

CubeSat Market Scope:

CubeSat Market

Market Size in 2023

USD 450 Mn.

Market Size in 2030

USD 1182.51 Mn.

CAGR (2024-2030)

14.8 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

   Segments

By Size

0.25U to 1U

1 to 3U

3U to 12U

6U to 12U

12U and Above

By Application

Earth Observation and Traffic Monitoring

Science Technology and Education

Space Observation

Others

By End User

              Government and Military

              Commercial

              Others

Regional Scope

North America- United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

CubeSat Market Key Players:

  1. AAC Clyde Space
  2. CU Aerospace
  3. EnduroSat
  4. GomSpace
  5. ISISPACE GROUP
  6. Planet Labs Inc.
  7. Pumpkin Space Systems
  8. Space Inventor
  9. Surrey Satellite Technology Limited
  10. Tyvak Nano-Satellite Systems Inc.
  11. Astro Digital Inc.
  12. NanoRacks LLC
  13. Orbital ATK 
  14. Rocket Lab
  15. Algerian Space Agency
  16. Dragonfly Aerospace
  17. NewSpace Systems
  18. CubeSpace
  19. Sierra Nevada Corporation
  20. SITAEL


Frequently Asked Questions

Innovation and Cost Efficiency is the driver of the CubeSat Market.

1.    CubeSat Market: Research Methodology 
2.    CubeSat Market: Executive Summary
3.    CubeSat Market: Competitive Landscape
4.    Potential Areas for Investment

4.1. Stellar Competition Matrix
4.2. Competitive Landscape
4.3. Key Players Benchmarking
4.4. Market Structure
4.4.1.    Market Leaders 
4.4.2.    Market Followers
4.4.3.    Emerging Players

4.5. Consolidation of the Market
5.    CubeSat Market Import Export Landscape
5.1. Import Trends
5.2. Export Trends
5.3. Regulatory Compliance
5.4. Major Export Destinations
5.5. Import-Export Disparities
6.    CubeSat Market: Dynamics
6.1. Market Trends by Region
6.1.1.    North America
6.1.2.    Europe
6.1.3.    Asia Pacific
6.1.4.    Middle East and Africa
6.1.5.    South America

6.2. Market Drivers by Region
6.2.1.    North America
6.2.2.    Europe
6.2.3.    Asia Pacific
6.2.4.    Middle East and Africa
6.2.5.    South America

6.3. Market Restraints
6.4. Market Opportunities
6.5. Market Challenges
6.6. PORTER’s Five Forces Analysis
6.7. PESTLE Analysis
6.8. Strategies for New Entrants to Penetrate the Market
6.9. Regulatory Landscape by Region
6.9.1.    North America
6.9.2.    Europe
6.9.3.    Asia Pacific
6.9.4.    Middle East and Africa
6.9.5.    South America

7.    CubeSat Market Size and Forecast by Segments (by Value Units)
7.1. CubeSat Market Size and Forecast, by Size (2023-2030)
7.1.1.    0.25U to 1U
7.1.2.    1 to 3U
7.1.3.    3U to 12U
7.1.4.    6U to 12U
7.1.5.    12U and Above

7.2. CubeSat Market Size and Forecast, by Application (2023-2030)
7.2.1.    Earth Observation and Traffic Monitoring
7.2.2.    Science Technology and Education
7.2.3.    Space Observation
7.2.4.    Others

7.3. CubeSat Market Size and Forecast, By End user (2023-2030)
7.3.1.    Government and Military
7.3.2.    Commercial
7.3.3.    Others

7.4. CubeSat Market Size and Forecast, by Region (2023-2030)
7.4.1.    North America
7.4.2.    Europe
7.4.3.    Asia Pacific
7.4.4.    Middle East and Africa
7.4.5.    South America

8.    North America CubeSat Market Size and Forecast (by Value Units)
8.1. North America CubeSat Market Size and Forecast, by Size (2023-2030)
8.1.1.    0.25U to 1U
8.1.2.    1 to 3U
8.1.3.    3U to 12U
8.1.4.    6U to 12U
8.1.5.    12U and Above

8.2. CubeSat Market Size and Forecast, by Application (2023-2030)
8.2.1.    Earth Observation and Traffic Monitoring
8.2.2.    Science Technology and Education
8.2.3.    Space Observation
8.2.4.    Others

8.3. CubeSat Market Size and Forecast, By End user (2023-2030)
8.3.1.    Government and Military
8.3.2.    Commercial
8.3.3.    Others

8.4. North America CubeSat Market Size and Forecast, by Country (2023-2030)
8.4.1.    United States
8.4.2.    Canada
8.4.3.    Mexico

9.    Europe CubeSat Market Size and Forecast (by Value Units)
9.1. Europe CubeSat Market Size and Forecast, by Size (2023-2030)
9.1.1.    0.25U to 1U
9.1.2.    1 to 3U
9.1.3.    3U to 12U  
9.1.4.    6U to 12U
9.1.5.    12U and Above

9.2. CubeSat Market Size and Forecast, by Application (2023-2030)
9.2.1.    Earth Observation and Traffic Monitoring
9.2.2.    Science Technology and Education
9.2.3.    Space Observation
9.2.4.    Others

9.3. CubeSat Market Size and Forecast, by End user (2023-2030)
9.3.1.    Government and Military
9.3.2.    Commercial
9.3.3.    Others

9.4. Europe CubeSat Market Size and Forecast, by Country (2023-2030)
9.4.1.    UK
9.4.2.    France
9.4.3.    Germany
9.4.4.    Italy
9.4.5.    Spain
9.4.6.    Sweden
9.4.7.    Russia 
9.4.8.    Rest of Europe

10.    Asia Pacific CubeSat Market Size and Forecast (by Value Units)
10.1. Asia Pacific CubeSat Market Size and Forecast, by Size (2023-2030)
10.1.1.    0.25U to 1U
10.1.2.    1 to 3U
10.1.3.    3U to 12U
10.1.4.    6U to 12U
10.1.5.    12U and Above

10.2. CubeSat Market Size and Forecast, by Application (2023-2030)
10.2.1.    Earth Observation and Traffic Monitoring
10.2.2.    Science Technology and Education
10.2.3.    Space Observation
10.2.4.    Others

10.3. CubeSat Market Size and Forecast, by End user (2023-2030)
10.3.1.    Government and Military
10.3.2.    Commercial
10.3.3.    Others

10.4. Asia Pacific Air Traffic Control (ATC) Communications Market Size and Forecast, by Country (2023-2030)
10.5. China
10.6. S Korea
10.7. Japan
10.8. India
10.9. Australia
10.10. Indonesia 
10.11. Malaysia
10.12. Vietnam
10.13. Taiwan
10.14. Bangladesh
10.15. Pakistan
10.16. Rest of Asia Pacific
11.    Middle East and Africa CubeSat Market Size and Forecast (by Value Units)
11.1. Middle East and Africa CubeSat Market Size and Forecast, by Size (2023-2030)
11.1.1.    0.25U to 1U
11.1.2.    1 to 3U
11.1.3.    3U to 12U
11.1.4.    6U to 12U
11.1.5.    12U and Above

11.2. Middle East and Africa Market Size and Forecast, by Application (2023-2030)
11.2.1.    Earth Observation and Traffic Monitoring
11.2.2.    Science Technology and Education
11.2.3.    Space Observation
11.2.4.    Others

11.3. CubeSat Market and Forecast, by End user (2023-2030)
11.3.1.    Government and Military
11.3.2.    Commercial
11.3.3.    Others

11.4. Middle East and Africa CubeSat Market Size and Forecast, by Country (2023-2030)
11.4.1.    South Africa
11.4.2.    GCC
11.4.3.    Egypt
11.4.4.    Nigeria
11.4.5.    Rest of ME&A

12.    South America CubeSat Market Size and Forecast (by Value Units)
12.1. South America CubeSat Market Size and Forecast, by Size (2023-2030)
12.1.1.    0.25U to 1U
12.1.2.    1 to 3U
12.1.3.    3U to 12U
12.1.4.    6U to 12U
12.1.5.    12U and Above

12.2. South America Market Size and Forecast, by Application (2023-2030)
12.2.1.    Earth Observation and Traffic Monitoring
12.2.2.    Science Technology and Education
12.2.3.    Space Observation
12.2.4.    Others

12.3. CubeSat Market Size and Forecast, by End user (2023-2030)
12.3.1.    Government and Military
12.3.2.    Commercial
12.3.3.    Others

12.4. South America CubeSat Market Size and Forecast, by Country (2023-2030)
12.4.1.    Brazil
12.4.2.    Argentina
12.4.3.    Rest of South America

13.    Company Profile: Key players
13.1. 2. AAC Clyde Space
13.1.1.1.    Company Overview
13.1.1.2.    Financial Overview
13.1.1.3.    Business Portfolio
13.1.1.4.    SWOT Analysis
13.1.1.5.    Business Strategy 
13.1.1.6.    Recent Developments

13.2. CU Aerospace 
13.3. EnduroSat 
13.4. GomSpace
13.5. ISISPACE GROUP
13.6. Planet Labs Inc.
13.7. Pumpkin Space Systems 
13.8. Space Inventor
13.9. Surrey Satellite Technology Limited 
13.10. Tyvak Nano-Satellite Systems Inc.
13.11. Astro Digital Inc.
13.12. NanoRacks LLC
13.13. Orbital ATK  
13.14. Rocket Lab
13.15. Algerian Space Agency 
13.16. Dragonfly Aerospace
13.17. NewSpace Systems
13.18. CubeSpace
13.19. Sierra Nevada Corporation
13.20. SITAEL 
14.    Key Findings
15.    Industry Recommendation

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