Revenues from the small satellite market are likely to grow significantly. The growing demand for small satellites to expand capacity is the key driver of the market. According to Market Research Future (MRFR) forecasts, the global small satellite market value will increase from US$3.5 billion in 2022 to US$12.25 billion in 2030, with a compound annual growth rate of 19.60 during the entire forecast period (2023-2030) %.

Small satellites help space research agencies expand access to space, advance scientific research and human exploration, and reduce the cost of new space missions. Small satellites enable a wide range of space activities and have the potential to make exponential advances in transformative science. The growing demand for geostationary satellite orbit (GSO) and low earth orbit (LEO) systems has accelerated the small satellite market share growth.