Asia Pacific CubeSat Market Size, Share & Trends Analysis Report By Size (25U to 1U, 1U to 3U, 3U to 6U, 6U to 12U, 12U and Above), By Application (Earth Observation and Traffic Monitoring, Science, Technology, and Education, Space Observation, Communication), By End-Users (Government and Military, Commercial, Non-profit Organizations), By Subsystem (Payloads, Structures, Electrical Power Systems, Command and Data Handling, Propulsion Systems, Attitude Determination and Control Systems) and By Country(China, Korea, Japan, India, Australia, Taiwan, South East Asia, Rest of Asia-Pacific) Forecasts, 2023-2031

Market Overview

The Asia Pacific CubeSat market size was valued at USD 12 million in 2021 and is projected to reach USD 89 million by 2031, registering a CAGR of 14.5% during the forecast period (2022-2031).

CubeSats are small, cubical satellites that weigh less than 1 kilogram. Their dimensions are 10 cm3, making them about the same size as the ubiquitous Rubik's cube. Using a CubeSat as a single unit (1 U) or in multiple unit configurations (1 U, 2 U, 3 U, 6 U, and 12 U) is possible. CubeSats have aided in space launches for more than a decade. Launching missions into low-Earth orbit has become easier for commercial firms, nonprofits, and educational institutions thanks to low-cost alternatives.

Multiple scientific investigations and technological demonstrations can now be carried out in space using these miniaturized satellites in a timely, affordable, and very straightforward manner. CubeSats are widely used by scientists and engineers worldwide for space exploration. Due to their compact and lightweight design, CubeSats can be manufactured and tested quickly, making them a valuable and cost-effective resource for studying new technologies and ideas. 

Market Dynamics

Asia-Pacific CubeSat Market Drivers:

Smaller and Lighter than Traditional Satellites to Favor Market Growth

The document that describes the characteristics of the nanosatellite class known as CubeSats is the CubeSat Design Specification (CSD), sometimes known colloquially as the CubeSat standard. Standard measurements are used to create CubeSats, which are 10 centimeters by 10 centimeters by 10 centimeters in size. Each unit is often built in the shape of a 1U, 2U, 3U, 6U, 12U, or other size configuration and weighs less than 1.33 kilograms. The popularity of CubeSats has increased significantly since its launch, which helps to overcome the obstacles to researching space.

Additionally, a CubeSat can be created and launched into orbit based on the requirements, adding very little to the overall expenditures compared to missions for traditional satellites. Because CubeSats are smaller than traditional satellites, this is the case. One CubeSat may be built relatively quickly, which is its main benefit. This benefit also exists along with the advantages brought on by lesser weight and size. A CubeSat can be created and placed in the desired orbit in less than eight months, whereas a conventional or large satellite takes five to fifteen years. Compared to a traditional or huge satellite, this is how long it takes. These elements are projected to fuel the worldwide CubeSat market's expansion during the projection.

Asia-Pacific CubeSat Market Restraints:

CubeSat Payload Capacity to Hinder Market Growth

CubeSats are low-cost alternatives launched into space more often for commercial and scientific purposes. Since CubeSats are built more quickly and inexpensively than traditional satellites, mission disaggregation is made possible and deployable structures and intricate systems are used less frequently. One of the main challenges to the variety of missions that Cubesats can perform is their capacity to carry payloads. Due to their compact size, CubeSats are subject to rigorous limitations on their payload capacity, propellant, and other subsystems. The amount of fuel necessary for missions requiring a higher V (impulse needed to make a maneuver) decreases the capacity available for scientific payloads and payloads intended to travel aboard the CubeSat. Due to their small interior volume, CubeSats cannot transport crucial subsystems required to carry out complicated missions. Because of their small size, CubeSats generate very little power. CubeSats come in sizes that are multiples of the conventional U cube (about 4 x 4 x 4 inches). The capacity or information that can be gathered is constrained by the CubeSats' lack of a propulsion system for on-orbit maneuvering, reliable attitude determination and control systems, and power generation.

Asia-Pacific CubeSat Market Opportunities:

Rising Demand for Space Data to Boost Market Opportunities

The range and depth of services that satellites might be able to offer are virtually limitless. The need for satellite services, including telecommunication, navigation and positioning, vehicle monitoring, and surveillance for military, environmental, or public safety applications, is rising quickly globally. The greatest demand is anticipated from the telecommunications sector, which has been employing space for its operations for several years and is a crucial part of the global infrastructure for communications, commercial and government data transfer, and applications. Additionally, there is a rising need for data from Earth observation (EO) for various applications. For instance, environmental and scientific research and metrology are becoming increasingly dependent on data from Earth observation. The need to ensure safety in military operations and money transfer applications drives increased demand for data gathered from space. Throughout the timeframe under consideration, it is anticipated that the growing demand for space data will drive the demand for efficient CubeSats in terms of their cost.

Regional Analysis

The market is segmented based on the country into China, Japan, India, South Korea, Rest of Asia-Pacific. China dominates the market and is expected to expand at a CAGR of 14.7% during the forecast period.

As countries like Japan and India continue to launch small satellites aggressively for communication and navigation purposes, the Asia-Pacific is expected to emerge as the fastest-growing regional market. Japan is pursuing techniques to produce small satellites and planes to address the demand for downsizing. Regardless of the scope of an initiative, countries like South Korea and Singapore have entered the CubeSat production industry to send their satellites into space.

As the uses for cube satellites multiply, more and more businesses are jumping into the market. Telecommunication, space-based IoT, weather prediction, asset tracking, military surveillance, etc., are just some of the many uses companies are finding for small satellites.

Segmental Analysis

The Asia-Pacific CubeSat market is segmented based on size and application.

The market is segmented based on size into 0.25U to 1U, 1 to 3U, 3U to 6U, 6U to 12U, and 12U and above.

The 1 to 3U holds the major market share and is expected to grow at a CAGR of 14.3% during the forecast period. Due to the requirement for greater volume and aperture, 1U to 3U CubeSats are rapidly surpassing other types of satellites as the most popular option for use in space missions. A 3U CubeSat has more than three times the capacity of a 1U CubeSat and greater pointing and communication capabilities. Due to the dimensions of standard mechanisms, connectors, and other components, a 3U has a larger usable volume, and more space is available for installing panels and antennas with higher packing factors. CubeSats are anticipated to play a significant role in the ubiquitous deployment of services based on the Internet of Things. In this scenario, multiple actors launch clusters of 0.25U satellites into space.

Based on application, the market is segmented into Earth Observation and Traffic Monitoring, Science, Technology and Education, Space Observation, and Communication.

Earth Observation and Traffic Monitoring holds the major share of the market and is expected to register a CAGR of 13.6% over the forecast period. To better comprehend the world's current living conditions and to make them better, research into agriculture, geology, forests, and the environment is crucial. Numerous CubeSat systems equipped with diverse spectral, radiometric, and spatial sensors were successfully launched over several years to meet the needs for Earth observation.

These systems (or constellations) offer real-time data on the surface of the Earth, which is useful for tracking higher rates of glacier melting, frequent forest fires, losses in food production, damage from natural disasters, and frequent hazardous algal blooms. More and more often, smaller satellites are used to research and study the properties, elements, and interactions of the atmosphere and space. NASA widely uses CubeSats and other small satellites to conduct scientific research, including astrobiology and basic biology studies. The government's increasing spending on scientific research and experimentation fuels this sector’s growth.

Recent Developments

• February 2019- Myriota partnered with Tyvak Nano-Satellite Systems Inc. to develop and launch multiple satellites.
• November 2019- Tyvak was one of five companies selected to be eligible to bid for the NASA Commercial Lunar Payload Services (CLPS).