While the overall growth of the smallsat market is beneficial for the space economy as it is helping lower the barriers to entry and create new revenue streams in the (relatively) near term, the impact of this growth on the space ecosystem in the long term is less often discussed.
7,000 small satellites will be launched by 2027, with constellations expected to dominate the market which, in some cases, are planning to deploy unprecedented numbers at a record pace, according to NSR’s Small Satellite Markets, 5th Edition forecasts. Despite a 30% decline in launch rates in 2018, small satellites are expected to regain growth in the near terms and over the next decade.
The advent of small satellites and the enabling satellite miniaturization technologies have opened up abundant opportunities in the space industry.