North America Small Satellite Market Overview, Growth, Opportunities and Development 2028 by Leading Top Players

The North America Small Satellite Market is expected to grow from US$ 1,325.42 million in 2022 to US$ 4,976.36 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2022 to 2028.

Growing Support for Small Satellite Development

Governments and companies across North America are increasingly investing in the small satellite market due to the rising demand for these satellites in applications such as earth observation, communication, navigation, and scientific research. For instance, in November 2021, Fleet Space Technologies secured US$26 million in funding to expand its nanosatellite IoT connectivity fleet. Such government-backed investments are propelling the growth of the small satellite market. Small satellites play a critical role in national security, disaster management (e.g., capturing data on earthquake or flood-affected areas), monitoring suspicious maritime activities, and supporting communication, navigation, earth observation, and scientific research. Governments worldwide are actively supporting small satellite development, particularly for earth observation. For example, under specific initiatives, governments are encouraging rapid construction and domestic production of small satellites by providing support to companies. These efforts are significantly boosting the small satellite market.


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Market Overview

The North American small satellite market is segmented by country into the US, Canada, and Mexico. The demand for small satellites in the region is growing due to their expanding applications, including earth and space observation, IoT and communications, asset tracking, scientific and environmental research, and security, defense, and national space programs. Additionally, fleet management companies in North America are increasingly adopting small satellites for real-time tracking of their commercial fleets. This helps reduce theft risks, minimize vehicle downtime, and enable quick responses to vehicle failures. These factors are driving the demand for new small satellites in the space sector. In the US, small satellites are being launched for applications such as communication and island tracking, further fueling the growth of the North American small satellite market.


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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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