The Asia Pacific small satellite market is expected to grow from US$ 888.57 million in 2022 to US$ 4,201.11 million by 2028; it is estimated to grow at a CAGR of 29.6% from 2022 to 2028.
Increasing Adoption of Small Satellites for Military Applications
Small satellites can be highly useful in military applications due to their short development time, low cost, and assembly line manufacturing processes. Many small satellite applications envision systems comprising the constellations of hundreds of satellites offer several advantages such as an increase in temporal resolution, revisit rate, and formation flying. Military officers can use small satellites to acquire real-time information, which can help them in decision making. Therefore, various countries are investing in small satellites. The project includes small satellites, satellite communications, space deterrence and reduction of on-orbit space debris, and launch. Similarly, in November 2021, Air Force Research Laboratory Space Vehicles Directorate announced that they had signed a contract with Tyvak Nano-Satellite Systems for experimenting in very low Earth orbit. Tyvak was awarded US$ 8.4 million for the satellite launch project and is projected to launch in 2024. Also, in July 2022, the Indian Army announced that they wanted a small satellite for training its signals officers. For this, the army issued a request for information (RFI) to the Indian companies to design and develop the communication satellite. Thus, the growing use of small satellites for military applications will further boost the market growth during the forecast period.
Increasing Adoption of Small Satellites for Military Applications
Small satellites can be highly useful in military applications due to their short development time, low cost, and assembly line manufacturing processes. Many small satellite applications envision systems comprising the constellations of hundreds of satellites offer several advantages such as an increase in temporal resolution, revisit rate, and formation flying. Military officers can use small satellites to acquire real-time information, which can help them in decision making. Therefore, various countries are investing in small satellites. The project includes small satellites, satellite communications, space deterrence and reduction of on-orbit space debris, and launch. Similarly, in November 2021, Air Force Research Laboratory Space Vehicles Directorate announced that they had signed a contract with Tyvak Nano-Satellite Systems for experimenting in very low Earth orbit. Tyvak was awarded US$ 8.4 million for the satellite launch project and is projected to launch in 2024. Also, in July 2022, the Indian Army announced that they wanted a small satellite for training its signals officers. For this, the army issued a request for information (RFI) to the Indian companies to design and develop the communication satellite. Thus, the growing use of small satellites for military applications will further boost the market growth during the forecast period.
Market Overview
The Asia Pacific small satellite market , based on country, is segmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. The space industry across the region is majorly dominated by China, India, and Japan. In March 2022, the Wuhan government announced its intentions to invest US$ 7.88 million to expand the country’s space sector to US$ 15.7 billion by 2025. The government investment is intended to be used for satellite, rocket, and spacecraft development. Additionally, South Korea, Indonesia, Taiwan, Thailand, Malaysia, the Philippines, Vietnam, Singapore, Australia, New Zealand, and other Asia Pacific countries are also engaged in the rapid development of their space capabilities. In 2022, the Taiwan government announced to invest US$ 900 million in developing its space industry in the next 10 years. These factors are expected to increase the production of small satellites across Asia Pacific, thereby bolstering the growth of the small satellite market in the region.Asia Pacific Small Satellite Market Segmentation
The Asia Pacific small satellite market is segmented on the basis of type, payload, application, vertical, and country. Based on type, the Asia Pacific small satellite market is bifurcated into nanosatellite (1 to 10 Kg) and microsatellite (10 to 150 Kg). The microsatellite (10 to 150 Kg) segment held a larger market share in 2022.- Based on payload, the Asia Pacific small satellite market is segmented into automatic identification system (AIS), transmitter, imaging devices, and others. The automatic identification system (AIS) segment held the largest market share in 2022.
- Based on application, the Asia Pacific small satellite market is segmented into earth observation, communication and navigation, and scientific research. The earth observation segment held the largest market share in 2022.
- Based on vertical, the Asia Pacific small satellite market is segmented into government, military, and commercial. The commercial segment held the largest market share in 2022.
- Based on country, the Asia Pacific small satellite market is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Small Satellite Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Small Satellite Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Support for Development of Small Satellite
5.1.2 Cumulative Number of Partnerships and Contracts
5.2 Key Market Restraints
5.2.1 Want of Small Satellite Manufacturers Across Emerging Regions
5.3 Key Market Opportunities
5.3.1 Upward IoT and Communication Applications
5.3.2 Intensifying Production of Smallsats for Beyond LEO Orbit Launches
5.4 Future Trends
5.4.1 Increasing Adoption of Small Satellites for Military Applications
5.5 Impact Analysis of Drivers and Restraints
6. Small Satellite Market - APAC Market Analysis
6.1 Small Satellite Market APAC Overview
6.2 APAC Small Satellite Market Forecast and Analysis
7. APAC Small Satellite Market Analysis - By Type
7.1 Overview
7.2 Small Satellite Market, By Type (2021 and 2028)
7.3 Nanosatellite (Upto 10 Kg)
7.3.1 Overview
7.3.2 Nanosatellite (Upto 10 Kg): Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Microsatellite (10-150 Kg)
7.4.1 Overview
7.4.2 Microsatellite (10-150 Kg): Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
8. APAC Small Satellite Market Analysis - By Payload
8.1 Overview
8.2 Small Satellite Market, By Payload (2021 and 2028)
8.3 Automatic Identification System (AIS)
8.3.1 Overview
8.3.2 Automatic Identification System: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Transmitter
8.4.1 Overview
8.4.2 Transmitter: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Imaging Devices
8.5.1 Overview
8.5.2 Imaging Devices: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
9. APAC Small Satellite Market Analysis - By Application
9.1 Overview
9.2 Small Satellite Market Breakdown, by Application, (2021 and 2028)
9.3 Earth Observation
9.3.1 Overview
9.3.2 Earth Observation: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Communication and Navigation
9.4.1 Overview
9.4.2 Communication and Navigation: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Scientific Research
9.5.1 Overview
9.5.2 Scientific Research: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
10. APAC Small Satellite Market Analysis - By Vertical
10.1 Overview
10.2 Small Satellite Market Breakdown, by Vertical, (2021 and 2028)
10.3 Government
10.3.1 Overview
10.3.2 Government: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Military
10.4.1 Overview
10.4.2 Military: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Commercial
10.5.1 Overview
10.5.2 Commercial: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
11. APAC Small Satellite Market - by Country Analysis
11.1 Asia Pacific: Small Satellite Market
11.1.1 Asia Pacific: Small Satellite Market, by Key Country
11.1.1.1 Australia: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Australia: Small Satellite Market, By Type
11.1.1.1.2 Australia: Small Satellite Market, by Application
11.1.1.1.3 Australia: Small Satellite Market, by Payload
11.1.1.1.4 Australia: Small Satellite Market, by Vertical
11.1.1.2 China: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 China: Small Satellite Market, By Type
11.1.1.2.2 China: Small Satellite Market, by Application
11.1.1.2.3 China: Small Satellite Market, by Payload
11.1.1.2.4 China: Small Satellite Market, by Vertical
11.1.1.3 India: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 India: Small Satellite Market, By Type
11.1.1.3.2 India: Small Satellite Market, by Application
11.1.1.3.3 India: Small Satellite Market, by Payload
11.1.1.3.4 India: Small Satellite Market, by Vertical
11.1.1.4 Japan: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Japan: Small Satellite Market, By Type
11.1.1.4.2 Japan: Small Satellite Market, by Application
11.1.1.4.3 Japan: Small Satellite Market, by Payload
11.1.1.4.4 Japan: Small Satellite Market, by Vertical
11.1.1.5 South Korea: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 South Korea: Small Satellite Market, By Type
11.1.1.5.2 South Korea: Small Satellite Market, by Application
11.1.1.5.3 South Korea: Small Satellite Market, by Payload
11.1.1.5.4 South Korea: Small Satellite Market, by Vertical
11.1.1.6 Rest of APAC: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of APAC: Small Satellite Market, By Type
11.1.1.6.2 Rest of APAC: Small Satellite Market, by Application
11.1.1.6.3 Rest of APAC: Small Satellite Market, by Payload
11.1.1.6.4 Rest of APAC: Small Satellite Market, by Vertical
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Lockheed Martin Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Northrop Grumman Corp
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Raytheon Technologies Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Thales SA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index
Table 1. APAC Small Satellite Market, Revenue and Forecast, 2020-2028 (US$ Million)
Table 2. Australia: Small Satellite Market, By Type- Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Small Satellite Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Small Satellite Market, by Payload - Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Small Satellite Market, by Vertical - Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Small Satellite Market, By Type- Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Small Satellite Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 8. China: Small Satellite Market, by Payload - Revenue and Forecast to 2028 (US$ Million)
Table 9. China: Small Satellite Market, by Vertical - Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Small Satellite Market, By Type- Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Small Satellite Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 12. India: Small Satellite Market, by Payload - Revenue and Forecast to 2028 (US$ Million)
Table 13. India: Small Satellite Market, by Vertical - Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan: Small Satellite Market, By Type- Revenue and Forecast to 2028 (US$ Million)
Table 15. Japan: Small Satellite Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 16. Japan: Small Satellite Market, by Payload - Revenue and Forecast to 2028 (US$ Million)
Table 17. Japan: Small Satellite Market, by Vertical - Revenue and Forecast to 2028 (US$ Million)
Table 18. South Korea: Small Satellite Market, By Type- Revenue and Forecast to 2028 (US$ Million)
Table 19. South Korea: Small Satellite Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 20. South Korea: Small Satellite Market, by Payload - Revenue and Forecast to 2028 (US$ Million)
Table 21. South Korea: Small Satellite Market, by Vertical - Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of APAC: Small Satellite Market, By Type- Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of APAC: Small Satellite Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of APAC: Small Satellite Market, by Payload - Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of APAC: Small Satellite Market, by Vertical - Revenue and Forecast to 2028 (US$ Million)
Table 26. List of Abbreviation
Figure 1. APAC Small Satellite Market Segmentation
Figure 2. APAC Small Satellite Market Segmentation - by Country
Figure 3. APAC Small Satellite Market Overview
Figure 4. APAC Small Satellite Market, By Type
Figure 5. APAC Small Satellite Market, By Application
Figure 6. APAC Small Satellite Market, By Payload
Figure 7. APAC Small Satellite Market, By Vertical
Figure 8. APAC Small Satellite Market, By Country
Figure 9. APAC Porter’s Five Forces Analysis
Figure 10. APAC Small Satellite Market: Ecosystem Analysis
Figure 11. APAC Expert Opinion
Figure 12. APAC Small Satellite Market: Impact Analysis of Drivers and Restraints
Figure 13. APAC Small Satellite Market, Forecast and Analysis (US$ Million)
Figure 14. APAC Small Satellite Market Revenue Share, by Type (2021 and 2028)
Figure 15. Nanosatellite (Upto 10 Kg): APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Microsatellite (10-150 Kg): APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Small Satellite Market Revenue Share, by Payload (2021 and 2028)
Figure 18. Automatic Identification System: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Transmitter: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Imaging Devices: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. APAC Satellite Market Breakdown, by Application (2021 and 2028)
Figure 23. Earth Observation: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Communication and Navigation: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Scientific Research: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. APAC Small Satellite Market Breakdown, by Vertical (2021 and 2028)
Figure 27. Government: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Military: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Commercial: APAC Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 30. Asia Pacific: Small Satellite Market, by Key Country - Revenue (2021) (US$ Million)
Figure 31. Asia Pacific: Small Satellite Market Revenue Share, by Key Country (2021 & 2028)
Figure 32. Australia: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33. China: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. India: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. Japan: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 36. South Korea: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Figure 37. Rest of APAC: Small Satellite Market - Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Lockheed Martin Corp
- Northrop Grumman Corp
- Raytheon Technologies Corp
- Thales SA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 122 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 888.57 Million |
| Forecasted Market Value ( USD | $ 4201.11 Million |
| Compound Annual Growth Rate | 29.6% |
| Regions Covered | Asia Pacific |
