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Asia-Pacific Small Satellite Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Asia-Pacific Small Satellite Market is segmented by Application (Communication, Earth Observation, Navigation, Space Observation, Others), by Orbit Class (GEO, LEO, MEO), by End User (Commercial, Military & Government) and by Propulsion Tech (Electric, Gas based, Liquid Fuel). Market Value in USD is presented. Key Data Points observed include spending on space programs in USD by region; and, the count of satellite launches by satellite launch mass.

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Asia-Pacific Small Satellite Market Size

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Asia-Pacific Small Satellite Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 15.07 Billion
svg icon Market Size (2029) USD 31.25 Billion
svg icon Largest Share by Orbit Class LEO
svg icon CAGR (2024 - 2029) 15.70 %
svg icon Largest Share by Country South Korea

Major Players
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*Disclaimer: Major Players sorted in alphabetical order.

Key Players

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Asia-Pacific Small Satellite Market Analysis

The Asia-Pacific Small Satellite Market size is estimated at USD 15.07 billion in 2024, and is expected to reach USD 31.25 billion by 2029, growing at a CAGR of 15.70% during the forecast period (2024-2029).

15.07 Billion

Market Size in 2024 (USD)

31.25 Billion

Market Size in 2029 (USD)

74.83 %

CAGR (2017-2023)

15.70 %

CAGR (2024-2029)

Largest Market by End User

97.12 %

value share, Commercial, 2022

The commercial segment is expected to occupy a significant share because of the increasing use of satellites for various telecommunication services.

Largest Market by Application

95.62 %

value share, Communication, 2022

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Governments, space agencies, defense agencies, private defense contractors, and private space industry players are emphasizing the enhancement of the communication network capabilities for various public and military reconnaissance applications.

Largest Market by Orbit Class

99.74 %

value share, LEO, 2022

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LEO satellites are increasingly being adopted in modern communication technologies as they play an important role in Earth observation applications.

Leading Market Player

25.61 %

market share, China Aerospace Science and Technology Corporation (CASC), 2022

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China Aerospace Science and Technology Corporation (CASC) is the largest player in the market. It offers a diverse range of launch vehicles and adopts a competitive pricing strategy to attract customers globally.

Second Leading Market Player

11.64 %

market share, Chang Guang Satellite Technology Co. Ltd, 2022

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Chang Guang Satellite Technology Co. Ltd is the second-largest player in the market. CGSTL is the first commercial remote-sensing satellite company in China.

Satellites that are being launched into LEO is driving the market demand

  • In recent years, demand for small satellites in the region has been rising rapidly, with more and more businesses and governments seeking to leverage the benefits of the cost-effective and versatile spacecraft.
  • LEO satellites are one of the most popular types of small satellites launched in the Asia-Pacific region. They are used for various applications, including remote sensing, Earth observation, and communication. In the region, during 2017-2022, around 240 satellites were launched into LEO, of which 128 satellites were launched for Earth observation, followed by 67 satellites for technology development, 24 for communication, and 12 for space science.
  • The MEO satellite is another small satellite gaining popularity in the Asia-Pacific region. These satellites are used for global navigation, communication, and remote sensing applications. MEO satellites offer several advantages over LEO satellites, including broader coverage and the ability to provide high-bandwidth communication services.
  • The other type of satellites being launched into space in the Asia-Pacific region are GEO satellites. These satellites are used for communication and weather monitoring applications. One of the main advantages of GEO satellites is their ability to remain in a fixed position relative to the Earth, making them ideal for applications requiring continuous coverage, including television broadcasting and internet connectivity. During 2017-2022, one satellite was launched into GEO for surveillance. These advancements are projected to increase this segment's growth rate by 182% during 2023-2029.
Asia-Pacific Small Satellite Market

Asia-Pacific Small Satellite Market Trends

The trends for better fuel and operational efficiency are expected to be major drivers of growth

  • Satellites are getting smaller nowadays. The fact that the small-sized satellite does almost everything that a conventional satellite does at a fraction of the cost of the conventional satellite made the building, launching, and operation of the small satellite constellations increasingly viable. Correspondingly, our reliance on them has been growing exponentially.
  • Small satellites typically have shorter development cycles, smaller development teams, and cost much less for launch. Revolutionary technological advancements facilitated the miniaturization of electronics, which pushed the invention of smart materials, reducing the satellite bus size and mass over time for manufacturers.
  • The mass of a satellite has a significant impact on the launch of the satellite, and this is because the heavier the satellite, the more fuel and energy are required to launch it into space. Launching a satellite involves accelerating it to a very high speed, typically around 28,000 km per hour, to place it in orbit around the Earth.
  • A heavier satellite requires a larger rocket and more fuel to launch it into space, which increases the cost of the launch and limits the types of launch vehicles that can be used. Similarly, satellites with less than 500 kg are considered small satellites, and around 200+ small satellites were launched in this region. Overall, the mass of a satellite significantly impacts its launch, requiring more energy and fuel to launch a heavier satellite, which increases the cost and can limit the launch options available. The number of operating satellites in the Asia-Pacific region is projected to surge during 2023-2029 due to growing demand in the commercial and military space sector.
Asia-Pacific Small Satellite Market

Increasing space expenditures of different space agencies are expected to impact the Asia-Pacific small satellite market positively

  • The Asia-Pacific small satellite market has grown rapidly in recent years, owing to technological advancements, increased investment, and growing demand for small satellite services. Nano and microsatellites are smaller and more cost-effective than traditional satellites, making them more accessible to a broader range of organizations
  • China, India, and Japan have complete end-to-end space capacity and complete space infrastructure, space technology satellite manufacturing, rockets, and spaceports. Other regions' countries must rely on international cooperation to carry out their respective space programs, which is expected to change to some extent in the coming years. However, many countries in the region are developing indigenous space capabilities as part of their latest agile strategies. In June 2022, South Korea launched the Nuri rocket, putting six satellites into orbit, making it the seventh country in the world to successfully launch a wholly indigenous payload.
  • In 2022, according to the draft budget of Japan, the space budget of the country was over USD 1.4 billion. It included investment in space activities of 11 government ministries, such as the development of the H3 rocket, Engineering Test Satellite-9, and the country’s Information Gathering Satellite program.
  • Considering the increase in space-related activities in the Asia-Pacific region, satellite manufacturers are enhancing their satellite production capabilities to tap into the rapidly emerging market potentials. The prominent Asia-Pacific countries that possess robust space infrastructure are China, India, Japan, and South Korea. China National Space Administration (CNSA) announced space exploration priorities during 2021–2025, including enhancing national civil space infrastructure.
Asia-Pacific Small Satellite Market

Asia-Pacific Small Satellite Industry Overview

The Asia-Pacific Small Satellite Market is moderately consolidated, with the top five companies occupying 61.64%. The major players in this market are Axelspace Corporation, Chang Guang Satellite Technology Co. Ltd, China Aerospace Science and Technology Corporation (CASC), Guodian Gaoke and Spacety Aerospace Co. (sorted alphabetically).

Asia-Pacific Small Satellite Market Leaders

  1. Axelspace Corporation​

  2. Chang Guang Satellite Technology Co. Ltd

  3. China Aerospace Science and Technology Corporation (CASC)

  4. Guodian Gaoke

  5. Spacety Aerospace Co.

Asia-Pacific Small Satellite Market Concentration

Other important companies include MinoSpace Technology, Zhuhai Orbita Control Engineering.

*Disclaimer: Major Players sorted in alphabetical order.

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Asia-Pacific Small Satellite Market News

  • March 2022: The China Aerospace Science and Technology Corporation successfully launched the Tiankun-2 satellites into a low-Earth polar orbit on the debut launch of the Long March 6A.
  • March 2022: Guodian Gaoke's Tianqi 19 commercial data relay satellite was launched from the Long March 8 rocket.
  • February 2022: A total of 89 Jilin-1 optical imaging satellites manufactured by CASC each weighing 30-45 kg were launched into orbit.

Free with this Report

We offer a comprehensive set of global and local metrics that illustrate the fundamentals of the satellites industry. Clients can access in-depth market analysis of various satellites and launch vehicles through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on satellite launches, satellite mass, application of satellites, spending on space programs, propulsion systems, end users, etc., are available in the form of comprehensive reports as well as excel based data worksheets.

Asia-Pacific Small Satellite Market
Asia-Pacific Small Satellite Market
Asia-Pacific Small Satellite Market
Asia-Pacific Small Satellite Market

Asia-Pacific Small Satellite Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. Satellite Mass

    2. 2.2. Spending On Space Programs

    3. 2.3. Regulatory Framework

      1. 2.3.1. Australia

      2. 2.3.2. Japan

      3. 2.3.3. Singapore

    4. 2.4. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 3.1. Application

      1. 3.1.1. Communication

      2. 3.1.2. Earth Observation

      3. 3.1.3. Navigation

      4. 3.1.4. Space Observation

      5. 3.1.5. Others

    2. 3.2. Orbit Class

      1. 3.2.1. GEO

      2. 3.2.2. LEO

      3. 3.2.3. MEO

    3. 3.3. End User

      1. 3.3.1. Commercial

      2. 3.3.2. Military & Government

      3. 3.3.3. Other

    4. 3.4. Propulsion Tech

      1. 3.4.1. Electric

      2. 3.4.2. Gas based

      3. 3.4.3. Liquid Fuel

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).

      1. 4.4.1. Axelspace Corporation

      2. 4.4.2. Chang Guang Satellite Technology Co. Ltd

      3. 4.4.3. China Aerospace Science and Technology Corporation (CASC)

      4. 4.4.4. Guodian Gaoke

      5. 4.4.5. MinoSpace Technology

      6. 4.4.6. Spacety Aerospace Co.

      7. 4.4.7. Zhuhai Orbita Control Engineering

  7. 5. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS

  8. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter's Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. SATELLITE MASS (ABOVE 10KG) BY REGION, NUMBER OF SATELLITES LAUNCHED, ASIA-PACIFIC, 2017 - 2022
  1. Figure 2:  
  2. SPENDING ON SPACE PROGRAMS BY REGION, USD, ASIA-PACIFIC, 2017 - 2022
  1. Figure 3:  
  2. ASIA-PACIFIC SMALL SATELLITE MARKET, VALUE, USD, 2017 - 2029
  1. Figure 4:  
  2. VALUE OF SMALL SATELLITE MARKET BY APPLICATION, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 5:  
  2. VALUE SHARE OF SMALL SATELLITE MARKET BY APPLICATION, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 6:  
  2. VALUE OF COMMUNICATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 7:  
  2. VALUE OF EARTH OBSERVATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 8:  
  2. VALUE OF NAVIGATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 9:  
  2. VALUE OF SPACE OBSERVATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 10:  
  2. VALUE OF OTHERS MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 11:  
  2. VALUE OF SMALL SATELLITE MARKET BY ORBIT CLASS, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 12:  
  2. VALUE SHARE OF SMALL SATELLITE MARKET BY ORBIT CLASS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 13:  
  2. VALUE OF GEO MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 14:  
  2. VALUE OF LEO MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 15:  
  2. VALUE OF MEO MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 16:  
  2. VALUE OF SMALL SATELLITE MARKET BY END USER, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 17:  
  2. VALUE SHARE OF SMALL SATELLITE MARKET BY END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 18:  
  2. VALUE OF COMMERCIAL MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 19:  
  2. VALUE OF MILITARY & GOVERNMENT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 20:  
  2. VALUE OF OTHER MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 21:  
  2. VALUE OF SMALL SATELLITE MARKET BY PROPULSION TECH, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 22:  
  2. VALUE SHARE OF SMALL SATELLITE MARKET BY PROPULSION TECH, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 23:  
  2. VALUE OF ELECTRIC MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 24:  
  2. VALUE OF GAS BASED MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 25:  
  2. VALUE OF LIQUID FUEL MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 26:  
  2. NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, ASIA-PACIFIC SMALL SATELLITE MARKET, ASIA-PACIFIC, 2017 - 2029
  1. Figure 27:  
  2. TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, ASIA-PACIFIC SMALL SATELLITE MARKET, ASIA-PACIFIC, 2017 - 2029
  1. Figure 28:  
  2. MARKET SHARE OF ASIA-PACIFIC SMALL SATELLITE MARKET, %, ASIA-PACIFIC, 2022

Asia-Pacific Small Satellite Industry Segmentation

Communication, Earth Observation, Navigation, Space Observation, Others are covered as segments by Application. GEO, LEO, MEO are covered as segments by Orbit Class. Commercial, Military & Government are covered as segments by End User. Electric, Gas based, Liquid Fuel are covered as segments by Propulsion Tech.

  • In recent years, demand for small satellites in the region has been rising rapidly, with more and more businesses and governments seeking to leverage the benefits of the cost-effective and versatile spacecraft.
  • LEO satellites are one of the most popular types of small satellites launched in the Asia-Pacific region. They are used for various applications, including remote sensing, Earth observation, and communication. In the region, during 2017-2022, around 240 satellites were launched into LEO, of which 128 satellites were launched for Earth observation, followed by 67 satellites for technology development, 24 for communication, and 12 for space science.
  • The MEO satellite is another small satellite gaining popularity in the Asia-Pacific region. These satellites are used for global navigation, communication, and remote sensing applications. MEO satellites offer several advantages over LEO satellites, including broader coverage and the ability to provide high-bandwidth communication services.
  • The other type of satellites being launched into space in the Asia-Pacific region are GEO satellites. These satellites are used for communication and weather monitoring applications. One of the main advantages of GEO satellites is their ability to remain in a fixed position relative to the Earth, making them ideal for applications requiring continuous coverage, including television broadcasting and internet connectivity. During 2017-2022, one satellite was launched into GEO for surveillance. These advancements are projected to increase this segment's growth rate by 182% during 2023-2029.
Application
Communication
Earth Observation
Navigation
Space Observation
Others
Orbit Class
GEO
LEO
MEO
End User
Commercial
Military & Government
Other
Propulsion Tech
Electric
Gas based
Liquid Fuel
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Market Definition

  • Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
  • End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
  • Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
  • Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
  • Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
  • Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
  • Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
Keyword Definition
Attitude Control The orientation of the satellite relative to the Earth and the sun.
INTELSAT The International Telecommunications Satellite Organization operates a network of satellites for international transmission.
Geostationary Earth Orbit (GEO) Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky.
Low Earth Orbit (LEO) Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface.
Medium Earth Orbit (MEO) MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit.
Very Small Aperture Terminal (VSAT) Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter
CubeSat CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. 
Small Satellite Launch Vehicles (SSLVs) Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage
Space Mining Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects.
Nano Satellites Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms.
Automatic Identification System (AIS) Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures.
Reusable launch vehicles (RLVs) Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle.
Apogee The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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Asia-Pacific Small Satellite Market Research FAQs

The Asia-Pacific Small Satellite Market size is expected to reach USD 15.07 billion in 2024 and grow at a CAGR of 15.70% to reach USD 31.25 billion by 2029.

In 2024, the Asia-Pacific Small Satellite Market size is expected to reach USD 15.07 billion.

Axelspace Corporation​, Chang Guang Satellite Technology Co. Ltd, China Aerospace Science and Technology Corporation (CASC), Guodian Gaoke and Spacety Aerospace Co. are the major companies operating in the Asia-Pacific Small Satellite Market.

In the Asia-Pacific Small Satellite Market, the LEO segment accounts for the largest share by orbit class.

In 2024, South Korea accounts for the largest share by country in the Asia-Pacific Small Satellite Market.

In 2023, the Asia-Pacific Small Satellite Market size was estimated at USD 11.51 billion. The report covers the Asia-Pacific Small Satellite Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Small Satellite Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

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Asia-Pacific Small Satellite Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029