Market Outlook
MRFR reports that the global satellite market size, valued at USD 4.78 billion in 2024, is expected to grow to around USD 15.52 billion by 2035, representing a CAGR of 11.3% over 2025-2035. This signals strong long-term expansion potential across all segments.
Industry Overview
Historically dominated by large geostationary platforms with limited applications, the satellite sector has transformed. Today, smaller satellites (nanosats and microsats) are deployed en masse, offering agility, lower cost, and faster deployment. In parallel, applications have broadened to include unmanned aerial vehicle (UAV) connectivity, precision agriculture, disaster monitoring and broadband delivery.
Key Players
Leading firms in the market include Airbus SAS (Netherlands), Boeing (USA), Lockheed Martin (USA), Eutelsat Communications SA (France), Intelsat (Luxembourg), Israel Aerospace Industries (Israel), Northrop Grumman (USA), Safran (France), SES SA (Luxembourg) and others. These players are active in both manufacturing satellites and operating satellite networks, often via strategic partnerships.
Segmentation & Growth

• By Type: The report segments the market into four types: nanosatellite, microsatellite, minisatellite and large satellite. Nanosats are expected to dominate the share because of their low entry barrier and proliferation of commercial constellations. Microsatellites, interestingly, are slated for the fastest growth as they straddle both commercial and defence applications.

• By Application: One of the strongest applications is Earth Observation & Remote Sensing, attributed the largest portion of the market. Mapping & Navigation is identified as the fastest-growing application segment, driven by demand for real-time geospatial data and logistics solutions.

• By End-User: The commercial segment leads in terms of market share, due to satellite TV (DTH), commercial imagery, broadband via satellites, and non-defence data services. The military/defence end-user remains significant but smaller in volume.
  Takeaway
  For industry players and investors, recognizing which segments will grow fastest—microsatellites and mapping/navigation applications—offers actionable insight. Companies that align their offerings accordingly and target commercial end-users stand to benefit the most.