SpaceWorks Enterprises, Inc. (SEI) will be releasing the 10th, and final, edition of its annual nano/microsatellite market forecast. The report is available in presentation form as a free download here . The following provides information regarding the contents, and more.
SpaceWorks celebrates 10 years of the Nano/Microsatellite Market Forecast and turns their focus towards what lies ahead in the 2020s, SpaceWorks is also taking time to look back. This year’s forecast is filled with insights, both into the events that birthed that small satellite revolution, and the trends that promise to drive market growth in the future.
As for 2020, SpaceWorks analysts project between 298 – 369 nano/microsatellites (1 – 50 kg) will launch globally as the industry seeks to rebound from a down-year in 2019. Successful fundraising efforts in the emerging IOT/M2M segment and a growing degree of diversification within the Earth Observation and Remote Sensing segment are both expected to contribute to industry growth in the near-term. Long-term, projections indicate as many as 2,400 nano/microsatellites will require launch in the next five years.
A key observation from this year’s forecast is that satellite sizes in the nano/microsatellite segment are continuing to grow. The average satellite size has grown from <5 kg in 2015 to 7 kg+ in 2019 (an increase of over 30%). This trend is expected to continue in the near-term as operators find ways to capitalize on competition in the manufacturing and launch segments.
“With increasing competition in the manufacturing and launch segments, operators have more choices than ever before. We’re starting to see the impact of this ‘buyers’ market’ with operators moving towards larger form-factors that have historically been cost-prohibitive,” says Stephanie DelPozzo, Economic Analyst at SpaceWorks. “As operators try to strike the balance between capability and affordability, the number of microsatellites and larger nanosatellites (6U+) is expected to increase.”
Overall, the report finds that annual nano/microsatellite launches have grown at a compound annual growth rate (CAGR) of 11% over the past 5 years. SpaceWorks estimates the market to grow in the future at a CAGR of 12% over the next 5 years.
Since 2011, SpaceWorks has published the Nano/Microsatellite Market Forecast every year as a service to the small satellite community. With the release of this special 10th anniversary edition of the Nano/Microsatellite Market Forecast, SpaceWorks is also announcing that this report will be its last.
“As SpaceWorks continues to strive to be the number one strategic resource for executives and investors across the space industry, we have made the conscious decision to move to a more continuous model of content delivery. This new approach will allow us to better respond to changing market dynamics and customer interests,” says Caleb Williams, Lead Economic Analyst at SpaceWorks. “Rest assured, our new online platform, SpaceWorks Insights, will feature plenty of interesting analysis on the small satellite industry, but also include new markets and topics such as satellite servicing, the future LEO economy, orbital debris, and much, much more.”