ATLANTA, March 29, 2016 – SpaceWorks Enterprises, Inc. (SEI) announced today the annual update to its nanosatellite and microsatellite market assessment. The assessment details the latest observations and trends of the nano/microsatellite market.
Projections indicate more than 400 nano/microsatellites will need launches annually in the year 2022 and beyond. The study summary is available in presentation form as a free download on the website, www.spaceworksforecast.com.
SpaceWorks is currently tracking 780 future (2016 – 2018) nano/microsatellites with masses between 1 kilogram and 50 kilograms in various stages of planning or development. Historical launches and publicly announced plans for future launches, as well as estimated market growth, serve as a basis for projection of the quantity of nano/microsatellites that will launch between 2016 and 2022. Data concerning future launches is sourced from the public announcements of small satellite operators, launch vehicle providers, government agencies, and other organizations, but also from additional market research and commercial companies’ intentions.
Projections indicate considerable growth in the nano/microsatellite market, with an estimated range of 435 to 575 nano/microsatellites (1-50 kg) that will need launches globally in 2022 (compared to 131 in 2015). The 2016 Nano/Microsatellite Market Assessment by SpaceWorks shows that nano/microsatellite launches have grown by an average of 39% per year since 2010, with an expected 13% growth per year over the next 6 years (2016-2022). Analysis of development trends by sector show that the commercial sector continues to grow significantly and will soon account for the majority of spacecraft launched in the nano/microsatellite market. Analysis of trends by purpose suggests that applications for nano/microsatellites are shifting to operational capabilities, particularly for Earth observation and remote sensing missions.
“The small satellite marketplace continues to be a very interesting and dynamic arena. The sector has grown in recent years, led by large constellation plans from the commercial industry,” stated Mr. Bill Doncaster, SpaceWorks Senior Systems Engineer and lead author of the forecast. “Limited launch opportunities in 2015 created a growing backlog of small satellites looking to launch in 2016 and beyond. We hope our latest Nano/Microsatellite Market Assessment provides insight into the future and proves to be a valuable resource for the small satellite community and those that serve it.”
Since 2008, SpaceWorks has actively monitored global nano/microsatellite activities to provide its clients with valuable insight into this growing market. SpaceWorks internally maintains a broad Launch Demand Database (LDDB) to track historical and future satellites in all size classes. Detailed analyses and custom assessments of the nano/microsatellite market and larger satellite classes are available to interested clients. Please contact Bill Doncaster with any questions.
News and information about SpaceWorks can be found at www.spaceworksenterprises.com.