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The competition heats up: A new report estimates the market for small satellites will exceed $22 billion in the next decade.
According to Euroconsult’s latest report, Prospects for the Small Satellite Market, we are on the cusp of a major revolution for the space sector and overall space ecosystem, as more than 3,600 smallsats are expected to be launched over the next ten years, a significant increase from the previous decade. The total market value of these satellites is anticipated to be $22 billion (manufacture and launch), a 76% increase over that of 2006-2015. This rate of growth is unprecedented for the space sector and will bring about fundamental changes as both new and established industry players attempt to increase their capabilities in order to gain market share.
What I expect is a splitting of the space industry, with unmanned smallsats launched by smaller rockets on one hand and big spaceships and payloads launched by big rockets on the other hand. In both cases, the competition will likely force prices down, so that more customers will find space affordable.