CubeSat Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, Spain, China, India, Japan, Australia, New Zealand, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, Israel, UAE), Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

Report ID: GMI4564

Summary Methodology

CubeSat Market size is predicted to witness exponential growth till 2026 due to proliferating applications in various verticals of space exploration. Various industry players are exploring CubeSat to conduct interplanetary missions, positively impacting market growth.

For instance, in 2018, NASA launched a CubeSat satellite for Mars observation. This was the first evert CubeSat satellite to perform interplanetary travel. Temporary scope of the application and limited lifecycle of CubeSat satellites are also one of the major market accelerators. A normal CubeSat placed in Low Earth Orbit (LEO) has an average lifespan of three weeks to one year.

Low manufacturing and launch costs along with involvement of private owners are propelling the CubeSat market. Various private owners and universities are acquiring CubeSats for commercial & educational purposes. Several launch providers are supporting market proliferation by providing economic launch services.

For instance, Rocket Lab launched eight CubeSat satellites between May 2017 and August 2019. To cater to the rising market requirements, the company is investing USD 20 million along with a grant of USD 5 million from Virginia’s transportation department for the development of a new launchpad, Launch Complex-2 (LC-2).

Capabilities of CubeSats to serve as standalone satellites or integration with existing satellites to form a bigger framework are improving market prospects. Small size, ease of manufacturing, and low launching costs is allowing manufacturers to explore new horizons in CubeSat applications. Various industry participates are integrating CubeSat with a larger network to generate a more complex and comprehensive space network.

For instance, in June 2019, a consortium of three companies KSAT (Norway), NanoAvionics (Lithuania), and Antwerp Space (Belgium) raised a total funding of USD 11.3 million to develop a constellation of CubeSats operating with the Internet of Things (IoT).

The 3U segment in the CubeSat market is expected to capture a maximum market share and will demonstrate a high growth potential within the forecast period. Versatile scope of applications and optimal dimensions compared to other CubeSats allow the 3U segment to capture a major market share. 3U dimensional CubeSats are compact enough to conduct economical launches and are big enough to encompass various systems in a single configuration. Various industry participants are integrating multiple systems into 3U CubeSats to improve their scope of applications.

For instance, in May 2018, the UAE Space Agency in collaboration with Khalifa University of Science and Technology and American University of Ras Al Khaimah updated the basic design of MeznSat 3U CubeSat. The new design features shortwave infrared spectrometer and visible cameras, allowing it to measure the presence of CO2 and methane in the atmosphere.

The commercial & civil end-use segment will demonstrate the maximum growth potential in the market. The rising interest of major industry participants to enter the market will increase funding from governments and various private organizations to carry commercial applications, further improving market prospects. For instance, in October 2019, Virgin Orbit announced its plan to launch a commercial CubeSat satellite to Mars. The CubeSat satellites from Virgin Orbit once operational will operate as a service provider to corporate clients.

North America will dominate the CubeSat market in the coming years due to a rise in funding in the space sector. Several universities in North America in association with various industry players are launching CubeSat satellites for educational purposes.

For instance, in October 2019, the University of Washington announced its plan to launch a CubeSat satellite from the International Space Station (ISS) in early 2020. The launch will be facilitated by NASA’s CubeSat launch initiative, which will focus on helping university students and non-profit organizations to launch CubeSats in space.

Major industry participants in the CubeSat market are Rocket Lab, NASA, Raytheon, ISRO, Capella Space, Boeing, L3Harris, Pumpkin Space System, CU Aerospace, Endurosat, Adcole Maryland Aerospace, Surrey Satellite Technology, Sierra Nevada Corporation, Busek Co., Lockheed Martin, and Planet Labs.

These companies are continuously upgrading their technology to improve their existing market share. For instance, in September 2018, CLS, a France-based marine tracking organization, initiated a USD 139 million investment to build, launch, and operate a constellation of 20 small satellites. The constellation will be used to connect IoT devices for oceanic surveillance.

Market by Dimension, 2015 - 2026 (USD Million)

  • Less than 1U
  • 1U
  • 1.5U
  • 2U
  • 3U
  • 6U
  • 12U & above

Market by Application, 2015 - 2026 (USD Million)

  • Communication
  • Education
  • Remote Sensing
  • Science/Observation
  • Technology/Development

Market by End-Use, 2015 - 2026 (USD Million)

  • Commercial & Civil
  • Education
  • Military

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada 
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • APAC
    • China
    • Japan
    • India
    • Australia
    • New Zealand
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • Saudi Arabia
    • Israel
    • UAE

Company Profiles:

  • Adcole Maryland Aerospace
  • Busek Co.
  • Clyde Space
  • CU Aerospace
  • Endurosat
  • Gomspace
  • Harris Corporation
  • Nanoavionics
  • OHB SE
  • Planet Labs
  • Pumpkin Space Systems
  • Sierra Nevada Corporation
  • Space Systems Loral (SSL)
  • Surrey Satellite Technology
  • Tyvak Nano-Satellite Systems


What Information does this report contain?

Historical data coverage: 2013 to 2015; Growth Projections: 2016 to 2026.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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