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GLOBAL CUBESAT MARKET FORECAST 2019-2027

CubeSat is a class of SmallSat, which is typically used for space research and is constructed in multiples of 10 cm x 10 cm x 10 cm and is approximately in size of a Rubik’s cube and weighs around 1.33 kg. The CubeSats are generally put up in orbit by the deployers of the international space station. The CubeSats are beneficial as they carry out many kinds of operations like technology demonstration, collecting information, or take measurements from space, help students understand the working of space missions from scratch. CubeSats are also extensively used in commercial purposes like telecommunication services, agriculture, and business intelligence. The growing use of CubeSat in the commercial space is further driving the growth of the global CubeSat market throughout the forecast period. The global CubeSat market created an amount of $XX million in 2018 and is expected to rise to $3,267.14 million in 2027, while growing at 22.04% of CAGR.

GLOBAL CUBESAT MARKET FORECAST 2019-2027

Global Cubesat Market by Size (1u, 2u, 3u, 6u, Other Sizes) by Subsystem (Payload, Structure, Telecommunication: Tt&c, Onboard Computer: C&dh, Power System, Attitude Control System: Adcs, Propulsion System, Thermal Control System (Tcs)) by End-user (Academic, Commercial, Government, Defense, Non-profit Organization) by Geography.

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CubeSat is a class of SmallSat, which is typically used for space research and is constructed in multiples of 10 cm x 10 cm x 10 cm and is approximately in size of a Rubik’s cube and weighs around 1.33 kg. The CubeSats are generally put up in orbit by the deployers of the international space station. The CubeSats are beneficial as they carry out many kinds of operations like technology demonstration, collecting information, or take measurements from space, help students understand the working of space missions from scratch. CubeSats are also extensively used in commercial purposes like telecommunication services, agriculture, and business intelligence. The growing use of CubeSat in the commercial space is further driving the growth of the global CubeSat market throughout the forecast period. The global CubeSat market created an amount of $XX million in 2018 and is expected to rise to $3,267.14 million in 2027, while growing at 22.04% of CAGR. The base year regarded for the market study is 2018, and the projected period lies between 2019 and 2027.

Major factors that are responsible for the advancement of the global CubeSat market are:

  • Large-scale demand for SmallSats
  • Technological developments in electronic equipment for SmallSats
  • The growing demand for miniaturization of satellites

Cubesat Market

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The global CubeSat market is mainly driven by the growing developments in the innovation of products and advancement in electronic circuitry, which is boosting the growth of the CubeSat market in the projecting years. The need for miniaturization of small satellites is also paving the way for market growth.

The Payload in the CubeSat market accounted for a significant share of 25.39% in the subsystem segment in 2018. The CubeSat market in the payload is largely influenced by the surging demand for small and effective payloads. The preference for safe launch services with the help of CubeSat is boosting the market for the payload in the CubeSat market during the estimated period. The prominent companies in the market are developing multiple payload adapters, therefore refining full utilization of payload capability, sinking cost for CubeSat launch, and swelling the number of CubeSats for a particular application in satellite constellation which is further helping the market growth. The rise in the strategic corporate initiatives undertaken by the major companies, together with the low raw materials prices, has fueled the growth of the market in the coming years.

The increasing trend for CubeSats devices is showcasing the growth projections for this segment. Further, the investments in research and development activities, along with the adoption of strategy like mergers by several companies is driving the market growth of CubeSats for the upcoming period.

Amid the growing acceptance of CubeSats, the market is facing some restraints and challenges. The lack of expertise in launching CubeSats coupled with ignorance by the aerospace organizations regarding the launch of CubeSats is further deterring the growth of the market in the forecast period 2019-2027. The increased regulations levied by the organizations is also challenging the growth of the market in the coming years. However, the presence of new entrants and satellite deployers, which are permitting access to space at an economical cost, is boosting the demand for CubeSats in the forecast period.

Report scope of the global CubeSat market encompasses segmentation by size, subsystem, end-user, along with the region.

Market by Size:

  • 1U
  • 2U
  • 3U
  • 6U
  • Other Sizes

Market by Subsystem:

  • Thermal Control System (TCS)
  • Payload
  • Telecommunication: TT&C
  • Structure
  • Power System
  • On-Board Computer: C&DH
  • Propulsion System
  • Attitude Control System: ADCS

Market by End-User:

  • Government
  • Academic
  • Commercial
  • Non-Profit Organization
  • Defense

The global CubeSat market, based on geography, has been segmented into major regions such as:

  • North America: Canada and United States
  • Europe: Germany, United Kingdom, France, Russia, Italy, Spain, & Rest of Europe
  • Asia Pacific: China, India, Australia, South Korea, Japan, & Rest of Asia Pacific
  • Rest of World: Middle East & Africa, Latin America

In terms of revenue, North America is the foremost region for the CubeSat market, with capturing around 78.5 % market share in 2018. This prominent position of North America is ascribed to the presence of large companies that offers these services in this region. The well-established players are Harris Corporation, Interorbital Space Organization (ISO), and others.

Furthermore, the North America CubeSat market growth is augmenting owing to the initiatives of the government and the space organizations in the region, which are innovating products, thereby boosting the global market during the period. For example, the increasing collaborations between NASA’S space programs and entrepreneurs are boosting the satellite industry in the region by increasing continuous research and development activities, eventually fueling the growth of the market.

North American is also the fastest-growing region for the CubeSat market. The mounting growth of the North American region is attributed to numerous factors like rising demand for small satellites, and an increase in research and development spending.

Clyde Space has partnered with Swedish space tech company AAC Microtel to create a market for small and nanosatellites. This collaboration will further accelerate the growth and create long term opportunities for the development of the space industry, thereby creating jobs and boosting the growth of the CubeSats in the forecast period and also will create opportunities to expand the workforce and capture market share in a fast-growing market.

The global CubeSats market has been classified by size, subsystem, end-user, and region. The size segment is further segmented into 1U, 2U, 3U, 6U, and other sizes. The subsystem segment comprises of Payload, Structure, and Telecommunication; TT&C, On-Board Computer; C&DH, Power System, and Attitude Control System; and ADCS, Propulsion System, and Thermal Control System (TCS). The End-User segment is further divided into academic, commercial, government, defense, and non-profit organizations.

The market includes several players, and few of the major players involved in the global CubeSat market are:

  • Clyde Space Ltd.
  • EnduroSat AD
  • GomSpace A/S
  • Gauss SRL
  • And many others

In the report, the company profiles of key market players are extensively discussed. Most of the companies are seeking corporate strategies, namely partnership, merger & acquisition, agreements, new product launch, and contracts, to gain a competitive edge over each other. For instance, in December 2018, Harris Corporation launched and communicated with its first small satellite from India’s Polar Satellite Launch Vehicle. This showcased the company’s ability to provide complete end-to-end mission solutions for the fast-growing CubeSat market.

Key findings of the global CubeSat market are:

  • North America dominates the global CubeSat market by seizing the largest share of around 78.46% in 2018
  • The market players are focusing on increasing the research and developments capabilities to achieve advanced innovation in the small satellite industry
  • The upsurge in demand for CubeSats in the defense sector is furthering the market growth in the forecast period
  • The demand for 6U CubeSats in the commercial space is influencing the growth of the market globally
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • NORTH AMERICA DOMINATES THE CUBESAT MARKET
      • INCREASING DEMAND FOR 6U CUBESATS
      • HIGH DEMAND FOR CUBESATS IN DEFENSE SECTOR
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • LARGE-SCALE DEMAND FOR SMALL SATS
      • TECHNOLOGICAL DEVELOPMENTS IN ELECTRONIC EQUIPMENT FOR SMALLSATS
      • IMPENDING NEED FOR MINIATURIZATION OF SATELLITES
    • MARKET RESTRAINTS
      • LACK OF EXPERIENCE IN LAUNCHING CUBESATS
      • INCREASING AMOUNT OF SPACE DEBRIS
    • MARKET OPPORTUNITIES
      • RISING DEMAND FOR IOT AND M 2M SMALL SATELLITE NETWORKS
      • TECHNICAL IMPROVEMENTS IN CUBESAT BATTERIES
      • INCREASE IN GOVERNMENT FUNDING
    • MARKET CHALLENGES
      • DESIGN CONSTRAINTS FOR CUBESATS
      • DELAY IN LAUNCH
  1. MARKET BY SIZE
    • 1U
    • 2U
    • 3U
    • 6U
    • OTHER SIZES
  2. MARKET BY SUBSYSTEM
    • PAYLOAD
    • STRUCTURE
    • TELECOMMUNICATION: TT&C
    • ON-BOARD COMPUTER: C&DH
    • POWER SYSTEM
    • ATTITUDE CONTROL SYSTEM: ADCS
    • PROPULSION SYSTEM
    • THERMAL CONTROL SYSTEM (TCS)
  3. MARKET BY END-USER
    • ACADEMIC
    • COMMERCIAL
    • GOVERNMENT
    • DEFENSE
    • NON-PROFIT ORGANIZATION
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • COMPANY PROFILES
      • CLYDE SPACE LTD.
      • ENDUROSAT AD
      • GOMSPACE A/S
      • GAUSS SRL
      • HARRIS CORPORATION
      • INNOVATIVE SOLUTIONS IN SPACE BV (ISIS)
      • INTERORBITAL SPACE ORBITAL (ISO)
      • NANO AVIONICS
      • CU AEROSPACE
      • BUSEK
      • PUMPKIN SPACE SYSTEM
      • ADCOLE MARYLAND AEROSPACE

LIST OF TABLES

TABLE 1. GLOBAL CUBESAT MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2. GLOBAL CUBESAT MARKET, BY SIZE, 2019-2027 (IN $ MILLION)

TABLE 3. GLOBAL 1U MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4. GLOBAL 2U MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5. GLOBAL 3U MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6. GLOBAL 6U MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7. GLOBAL OTHER SIZES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8. GLOBAL CUBESAT MARKET, BY SUBSYSTEM, 2019-2027 (IN $ MILLION)

TABLE 9. GLOBAL PAYLOAD MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10. GLOBAL STRUCTURE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11. GLOBAL TELECOMMUNICATION: TT&C MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12. GLOBAL ON-BOARD COMPUTER: C&DH MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13. GLOBAL POWER SYSTEM MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14. GLOBAL ATTITUDE CONTROL SYSTEM: ADCS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15. GLOBAL PROPULSION SYSTEM MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16. GLOBAL THERMAL CONTROL SYSTEM (TCS) MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17. GLOBAL CUBESAT MARKET, BY END-USER, 2019-2027 (IN $ MILLION)

TABLE 18. GLOBAL ACADEMIC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19. GLOBAL COMMERCIAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20. GLOBAL GOVERNMENT MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21. GLOBAL DEFENSE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22. GLOBAL NON-PROFIT ORGANIZATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 23. OPPORTUNITY MATRIX

TABLE 24. VENDOR LANDSCAPE

TABLE 25. GLOBAL CUBESAT MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 26. NORTH AMERICA CUBESAT MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 27. EUROPE CUBESAT MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 28. ASIA PACIFIC CUBESAT MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 29. REST OF WORLD CUBESAT MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1. GLOBAL CUBESAT MARKET, BY END-USER, 2018 & 2027 (IN %)

FIGURE 2. GLOBAL CUBESAT MARKET, BY 1U, 2019-2027 (IN $ MILLION)

FIGURE 3. GLOBAL CUBESAT MARKET, BY 2U, 2019-2027 (IN $ MILLION)

FIGURE 4. GLOBAL CUBESAT MARKET, BY 3U, 2019-2027 (IN $ MILLION)

FIGURE 5. GLOBAL CUBESAT MARKET, BY 6U, 2019-2027 (IN $ MILLION)

FIGURE 6. GLOBAL CUBESAT MARKET, BY OTHER SIZES, 2019-2027 (IN $ MILLION)

FIGURE 7. GLOBAL CUBESAT MARKET, BY PAYLOAD, 2019-2027 (IN $ MILLION)

FIGURE 8. GLOBAL CUBESAT MARKET, BY STRUCTURE, 2019-2027 (IN $ MILLION)

FIGURE 9. GLOBAL CUBESAT MARKET, BY TELECOMMUNICATION: TT&C, 2019-2027 (IN $ MILLION)

FIGURE 10. GLOBAL CUBESAT MARKET, BY ONBOARD COMPUTER: C&DH, 2019-2027 (IN $ MILLION)

FIGURE 11. GLOBAL CUBESAT MARKET, BY POWER SYSTEM, 2019-2027 (IN $ MILLION)

FIGURE 12. GLOBAL CUBESAT MARKET, BY ATTITUDE CONTROL SYSTEM: ADCS, 2019-2027 (IN $ MILLION)

FIGURE 13. GLOBAL CUBESAT MARKET, BY PROPULSION SYSTEM, 2019-2027 (IN $ MILLION)

FIGURE 14. GLOBAL CUBESAT MARKET, BY THERMAL CONTROL SYSTEM (TCS), 2019-2027 (IN $ MILLION)

FIGURE 15. GLOBAL CUBESAT MARKET, BY ACADEMIC, 2019-2027 (IN $ MILLION)

FIGURE 16. GLOBAL CUBESAT MARKET, BY COMMERCIAL, 2019-2027 (IN $ MILLION)

FIGURE 17. GLOBAL CUBESAT MARKET, BY GOVERNMENT, 2019-2027 (IN $ MILLION)

FIGURE 18. GLOBAL CUBESAT MARKET, BY DEFENSE, 2019-2027 (IN $ MILLION)

FIGURE 19. GLOBAL CUBESAT MARKET, BY NON-PROFIT ORGANIZATION, 2019-2027 (IN $ MILLION)

FIGURE 20. PORTER’S FIVE FORCE ANALYSIS

FIGURE 21. GLOBAL CUBESAT MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 22. UNITED STATES CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23. CANADA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24. UNITED KINGDOM CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25. GERMANY CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26. FRANCE CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27. SPAIN CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28. ITALY CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29. RUSSIA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30. REST OF EUROPE CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31. CHINA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32. JAPAN CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33. INDIA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34. SOUTH KOREA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35. AUSTRALIA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36. REST OF ASIA PACIFIC CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37. LATIN AMERICA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38. MIDDLE EAST & AFRICA CUBESAT MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY SIZE
    • 1U
    • 2U
    • 3U
    • 6U
    • OTHER SIZES
  2. MARKET BY SUBSYSTEM
    • PAYLOAD
    • STRUCTURE
    • TELECOMMUNICATION: TT&C
    • ON-BOARD COMPUTER: C&DH
    • POWER SYSTEM
    • ATTITUDE CONTROL SYSTEM: ADCS
    • PROPULSION SYSTEM
    • THERMAL CONTROL SYSTEM (TCS)
  3. MARKET BY END-USER
    • ACADEMIC
    • COMMERCIAL
    • GOVERNMENT
    • DEFENSE
    • NON-PROFIT ORGANIZATION
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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