Europe 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(U.K., Germany, France, Italy, Russia, Nordic, Benelux, Rest of Europe) Forecasts, 2023-2031

Market Overview

The Europe CubeSat market size was valued at USD 9 million in 2021 and is projected to reach USD 54 million by 2031, registering a CAGR of 12.1% during the forecast period (2022-2031).

A CubeSat is a compact satellite with a cubical shape that measures 10x10x10 cm3 - roughly the size of the popular Rubik's cube - and weighs approximately 1 kg. A CubeSat can be utilized as a single unit (1 U) or in groups of multiple units (1U, 2U, 3U, 6U, and 12U, among others). Since more than a decade ago, CubeSats have facilitated space launches. Cost-effective solutions have simplified the launch of missions into low-Earth orbit for commercial companies, non-profit organizations, and academic institutions.

These miniaturized satellites enable several scientific studies and technology demonstrations to be conducted in space cost-effectively, timely, and relatively simple. CubeSats are extensively utilized by researchers and experts worldwide for space exploration. CubeSats' small and lightweight dimensions suit them for rapid production and testing, making them an ideal and inexpensive tool for exploring emerging technologies and concepts.

Market Dynamics

Europe CubeSat Market Drivers:

Growing Demand for Commercial Applications

While CubeSats are already used in various commercial applications, their compact size and light weight do not compromise their capabilities. Some instances (SIGINT) include communication and the Internet of Things, geolocation and logistics, and signal monitoring. The greater global deployment of the Internet of Things (loT) has been made possible by the growing use of CubeSats. Globally, a rising number of sensor-driven devices require connectivity and global communications. It can be challenging to locate and monitor assets, including ships, aircraft, and vehicles, among other things, in locations with no land cover. CubeSat constellations, which are in orbit and offer access to global imagery, can give users real-time data about various assets everywhere.

CubeSats can support current network technologies by offering answers to challenging logistical administration issues. This offers a benefit in a disaster since they can offer early information about the scope of the impact and the regions most negatively impacted. This makes planning effective relief and rescue efforts possible, which is a big benefit.

North America CubeSat Market Restraints:

Orbital Debris Concerns

The orbital debris problem severely constrains the market for CubeSats in North America. Concerns about space debris are becoming increasingly prevalent as more CubeSats and other small spacecraft are sent into orbit. Defunct satellites spent rocket stages, and other pieces still in orbit around the Earth are referred to as orbital debris. The buildup of space junk puts functioning satellites and spacecraft at risk because even the smallest particles of trash can result in considerable damage in collisions at very high speeds.

Space organizations and regulatory authorities have created guidelines and regulations for satellite operators to reduce the formation of space debris to address this matter. Operators of CubeSats must follow these regulations, which frequently ask for actions like deorbiting plans, collision avoidance techniques, and building satellites out of materials that reduce the production of extra debris upon re-entry.

North America CubeSat Market Opportunities:

Advantages of Big Satellites

Small spacecraft with more capable and efficient subsystems are replacing large satellites and associated equipment. Commercial satellite operators install smallsat constellations in LEO to provide worldwide coverage with the least latency. Small satellites are increasingly used for remote sensing and earth observation (EO) in LEO constellations to provide better insights for related goals. Satellite entrepreneurs accelerate this trend through mass manufacture, rocket ride-sharing with other missions, modular commercial-off-the-shelf (COTS) hardware, and standardized satellite buses. Vertical integration in satellite production enables owners and operators of satellites to cut expenses.

Regional Analysis

The market trend in Europe has been influenced by the economies of the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe's regional divisions. The increasing need for CubeSats in Italy may be traced back to the country's thriving satellite sector, which can be traced back to the plethora of competing space businesses.

Market expansion is being fueled by factors such as the increasing demand for CubeSats, the development of increasingly sophisticated electrical equipment for CubeSats, and the rising need for the shrinking of satellites. The European CubeSat market is expected to expand rapidly over the next few years as governments invest heavily in developing improved CubeSat subsystems like a laser communication system, solar electric propulsion system, and others for use in critical infrastructure protection, navigation, and communication.

Segmental Analysis

The European 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 segment holds the major share in the market and is expected to grow at a CAGR of 12.2% during the forecast period. Due to the need for greater volume and aperture, 1U to 3U CubeSats are quickly overtaking other types of satellites as the top option for usage in space missions by several manufacturers. A 3U CubeSat has more than three times the power and more pointing and communication capability than a 1U CubeSat. A 3U has a larger useable volume due to the size of standard mechanisms, connectors, and other components, and more room is available to install panels and antennas with higher packing factors. CubeSats are projected to play an important part in the widespread deployment of Internet of Things-based services. Several actors in this scenario are launching swarms 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 in the market and is expected to register a CAGR of 11.9% over the forecast period. Research on agriculture, geology, forestry, and the environment is vital for understanding and improving global living circumstances. Many CubeSats carrying various spectral, radiometric, and spatial sensors have been successfully launched over several years to fulfill Earth observation objectives.

These systems (or constellations) provide real-time data on the surface of the Earth, which is valuable for monitoring glacier melting rates, forest fires, food production losses, disaster damages, and toxic algal blooms. The features, constituents, and interactions of the atmosphere and space are increasingly studied using smaller satellites. NASA uses CubeSats and other small satellites for various scientific studies, including astrobiology and fundamental biological studies. The expansion of this market is a direct result of the government's rising investment in scientific study and experimentation.

Recent Developments

• January 2023- Planet Labs Inc. launched 36 SuperDove satellites, Flock 4y, on a SpaceX Falcon 9 rocket. Flock 4y is planned to launch on SpaceX's Transporter-6 mission from Space Launch Complex 40 in Cape Canaveral, Florida.
• July 2020- Firefly Aerospace, Inc. (Firefly), a provider of economical and dependable launch vehicles, spacecraft, and in-space services, announced the execution of a Launch Services Agreement with Innovative Space Logistics BV (ISILAUNCH), a launch services subsidiary of Netherlands based ISIS - Innovative Solutions in Space B.V. (ISISPACE).