Spacecraft Market

June 2025

Market

In 2023, the global spacecraft market was valued at $6.9 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2033. This growth is driven by key factors such as the rapid expansion of small satellite constellations (networks of satellites that work together in orbit) and the increasing role of commercial space ventures, both of which are fueling innovation and opening new market opportunities.

Within the broader spacecraft industry, the commercial segment is the fastest-growing. The global spacecraft market includes both manned and unmanned vehicles used across commercial, government, and military programs for communications, remote sensing, navigation, exploration, research, and defense. In 2022, the commercial and civil sector accounted for about three-quarters of total spacecraft market revenue, generating approximately $4.95 billion. This segment alone is expected to grow at a CAGR of 6.2% from 2023 to 2032.

Size of Spacecraft

Common size classifications of spacecraft are small and large. Small spacecraft (SmallSats) have a mass less than 500 kilograms and large spacecraft weigh over 1,000 kilograms. Although the 500 to 1000 kg mass range is technically defined as a medium spacecraft, it is common to refer to the spacecraft as either large or small.

SmallSat varieties include minisatellites (100-180 kilograms), microsatellites (10-100 kilograms), nanosatellites (1-10 kilograms), picosatellites (0.01-1 kilogram), and femtosatellites (0.001-0.01 kilograms).

CubeSats are utilized for government, industry, and academic applications. They are a class of nanosatellites that use standard size and form factor such as a one unit, 1U) measuring 10x10x10cm and to larger sizes. CubeSats provide cost effective platforms for scientific investigation, new technologies, and advanced mission concepts.

In December 2006, NASA launched its first CubeSat, GeneSat.

Payloads & Rideshare

Historically, government-subsidized launches have been the primary means of sending secondary spacecraft into orbit. However, the shift toward commercial launches has significantly increased access to space by providing four main launch options for SmallSats: dedicated launches for a primary payload, rideshare, hosted payloads, and deferred deployment.

A spacecraft’s payload, or payload system, includes the instruments, sensors, equipment, and supporting hardware that carry out the mission’s objectives. Once deployed in space, these payloads generate mission data, fulfill specific tasks, and transmit results back to Earth. Payloads are generally categorized as primary or secondary. On any given launch vehicle, the primary payload determines the orbital trajectory, flight design, mission integration, and operations—and typically funds the launch service itself. In contrast, secondary payloads are independent of the primary payload and subordinate in priority, meaning they do not influence the launch schedule or orbital path. This arrangement, known as a rideshare, allows secondary payloads to ‘hitch a ride’ to space alongside the primary mission.

A defining feature of the emerging New Space economy, rideshare missions place multiple payloads into orbit aboard a single launch vehicle through a shared launch service. In the United States, rideshare opportunities are offered by NASA, the U.S. Space Force (USSF), and various commercial providers, including SpaceX and Blue Origin.

Often, CubeSat deployers are mounted to the Evolved Expendable Launch Vehicle Secondary Payload Adapter (ESPA) ring that attaches the launch vehicle to the primary payload. For other small spacecraft, ESPA rings and Payload Adapter systems are used with spring load separation systems for deployment. This approach supports the space mission architecture by increasing access to launch and reducing the costs for mission developers and payload providers.

CubeSat secondary payloads installed on an ESPA ring

Orbits

A critical aspect of spacecraft development is orbit selection. An orbit is the curved path that an object in space follows around another object due to gravitational forces. Available orbits for spacecraft deployment include low-Earth orbit (LEO), medium-Earth orbit (MEO), geosynchronous orbit (GEO), geostationary orbit (GSO), geostationary transfer orbit (GTO), lunar orbit, polar orbit, near rectilinear halo orbit (NRHO), heliocentric orbit, highly elliptical orbit (HEO), and deep space trajectories. Each orbit offers unique advantages and trade-offs that affect a mission’s cost, performance, and operational lifespan. For example, low-Earth orbit (LEO) is ideal for high-resolution imaging and Earth observation because of its close proximity to Earth, while geostationary orbit (GEO) provides continuous, stable coverage for telecommunications and weather monitoring.

Low-Earth Orbit

Low-Earth orbit (LEO), which lies at altitudes of 2,000 km or less, enables high-speed, low-latency communication services due to its close proximity to Earth.

LEO Providers	Programs
Amazon	Project Kuiper
SpaceX	Starlink
Maxar	WorldView Legion
L3Harris	Spaceview
Eutelsat	OneWeb
Viasat	Viasat 1, 2, 3
Lockheed Martin	LM 400, Tranche 0 Transport Layer T0TL & SmartSat
Airbus	Arrow 150 & 450
Planet Labs	RapidEYE, PlanetScope
Northrop Grumman	SDA’s Proliferated Warfighter Space Network (PWSA)
Lockheed Martin	LM 400: operates in LEO, GEO, MEO

Medium-Earth Orbit

Medium-Earth orbit (MEO) lies between low-Earth orbit (LEO) and geostationary orbit (GEO), at altitudes between 2,000 km to 35,786 km. MEO is primarily used for navigation systems and military satellites that are equipped with infrared sensors for missile detection. Unlike GEO, MEO does not require a fixed orbital path or equatorial placement as its specific altitude and inclination depends on the mission’s goal.

Two common types of Medium-Earth orbits (MEO) are the semi-synchronous orbit and the Molniya orbit:

A semi-synchronous orbit has an orbital period of approximately 12 hours, completing two orbits per Earth day. These orbits move in the same direction as Earth’s rotation and are typically used to provide consistent global coverage for GPS services.
A Molniya orbit is a highly elliptical and highly inclined orbit, ~ 63.4° inclination, designed to provide extended coverage over high-latitude regions, such as Russia or northern Canada. This orbit allows satellites to spend a significant portion of their time over the Northern Hemisphere, making it ideal for communications, weather monitoring, and reconnaissance in those areas.

MEO Providers	Programs
Northrop Grumman	Eagle-3
Lockheed Martin	LM 400: Operates in LEO, GEO, MEO
SES	O3b mPOWER
L3Harris	Epoch 1 & 2

Geosynchronous Orbit: Geosynchronous & Geostationary

Geosynchronous Orbit

A geosynchronous orbit (GEO) is a prograde orbit with low inclination (the angular distance between the orbital plane and the planet's equator). It has a period of 23 hours, 56 minutes, and 4 seconds, allowing it to return to the same point in the sky at the same time each day and is located ~35,800 km above Earth.

Geosynchronous Providers	Programs
Boeing	Syncom: 1st GEO Communications Satellite
Northrop Grumman	SpaceLogistics
Northrop Grumman	GEOStar
Northrop Grumman	Defense Support Program (DSP)
Telesat	Anik & Telstar
Lockheed Martin	LM 400: Operates in LEO, GEO, MEO

Geostationary Orbit (GEO)

A geostationary orbit (GEO) is a specific type of geosynchronous orbit that is positioned directly above the equator. GEO has zero eccentricity and an inclination of zero or near-zero. This enables the satellite to remain fixed relative to a point on Earth’s surface through a process known as "station keeping".

Geostationary Providers	Programs
Boeing	Intelsat EpicNG 702MP
Lockheed Martin	GOES-R Series
NASA/ NOAA	GOES Satellite Network

Lunar Orbit: Near-Rectilinear Halo Orbit

The near rectilinear halo orbit (NRHO) was chosen by NASA to be used in the Artemis program and the Lunar Gateway Mission due to its proximity to the Moon’s surface. In this mission architecture, spacecraft will travel from Earth to the NRHO. Once in NRHO, the spacecraft will complete a process known as lunar microgravity staging used to deploy a payload to the lunar surface. NRHOs are useful because it provides a stable and balanced location for orbit, easy staging and access to the lunar surface, and increased fuel efficiency for maintaining orbit and transfers to other orbits.

Providers	Program
ESA	European Large Logistic Lander, In Development
ESA	Lunar Pathfinder Spacecraft, under Moonlight Program, In Development
Firefly Aerospace	Blue Ghost lunar lander, Active
Intuitive Machines	Odysseus Craft, under NASA’s CLPS program, Complete
iSpace (Japan)	Resilience, Active
NASA	Artemis Program, Lunar Gateway Mission, In Development
NASA	CAPSTONE (Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment), Active
NASA	Lunar Reconnaissance Orbiter (LRO), Active

Deep Space

Deep space is defined as the region beyond the Earth-Moon system. The deep space exploration and technology market is projected to reach USD 630.23 billion by 2028, growing at a compound annual growth rate (CAGR) of 7.3%. Developing technologies for deep space exploration involves several key areas: environmental control (such as managing vacuum conditions and extreme temperatures), component development (including miniaturization and advanced optics), and automation (focusing on power efficiency, electronics, and control systems).

A deep space spacecraft typically integrates two core components: a transportation system designed for long-duration missions, and a payload, such as a rover, that collects data, samples, or other scientific information for analysis on Earth.

Astroforge’s Odin Spacecraft

One of the primary distinctions between deep space exploration and operations is the spacecraft’s increased distance from the Sun and Earth. This distance poses challenges in power generation and thermal regulation. Near the Sun, a spacecraft may overheat; farther away, reduced solar energy can limit available power. Additionally, the vast distance complicates two-way communication with ground stations. As deep space missions become more common, the demand for large, high-capacity ground antennas continues to grow. These antennas are critical for tracking and maintaining reliable communication with distant spacecraft, enabling the continued expansion of deep space exploration.

Providers	Program	Dates [Launch — End of Mission]
ESA	Hera Mission, investigating the Didymos binary asteroid and kinetic impactor test. Part 2 of the AIDA collaboration.	Active, Launched 2024
Astroforge	Brokkr-1 (2023), Odin (2025), Vestri (2026)	Active
JAXA	HAYABUSA, the first Japanese asteroid explorer	Launched 2003-Sample Returned to Earth 2010
NASA	Deep Impact (EPOXI)	Launched 2005 - Lost contact in 2013
NASA	DART (Double Asteroid Redirection Test). Part 1 of the AIDA collaboration.	Launch 2021. Impact 2022.

Classifications

Satellites orbit another body in space and communicate by transmitting radio waves to antennas on Earth, which capture the signals and processes the information (scientific data, health, location). A satellite’s path is determined by its altitude, eccentricity (the shape of an orbital ellipse), and inclination (the angular distance between the orbital plane and the planet's equator).

Often referred to as space probes, spacecraft are fully robotic systems used for Earth observation, communications, navigation, scientific discovery, and space exploration. Spacecraft are categorized into eight broad categories based on mission objectives: flyby, orbiter, atmospheric, lander, penetrator/impact, rover, observatory, and communications & navigation.

Types of Spacecraft

Flyby	Flyby spacecraft conduct the initial reconnaissance phase of space exploration by following a continuous solar orbit or escape trajectory, without entering planetary orbits. Example: Voyager
Orbiter	Orbiters are probes that continuously orbit a celestial body to conduct in-depth studies of the object’s properties. Example: NASA’s Dawn & Juno
Atmospheric	Atmospheric spacecraft are designed for shorter missions to collect data about the atmosphere of a planet or satellite and are typically carried by another spacecraft. Example: ESA’s Huygens
Lander	A lander is designed to reach the surface of a planet, conduct scientific experiments, collect data, and transmit the findings back to Earth. Example: NASA’s Viking Project
Penetrator/ Impact	Less common, the penetrator spacecraft is designed to penetrate the surface of a space object, measure its properties, and transmit the data back to Earth. Example: NASA Deep Impact (EPOXI)
Rover	Designed as a semi-autonomous vehicle, a rover is a small, mobile robot that lands on space objects, collects samples, images, and data, and transmits this information back to Earth's ground systems. Example: NASA’s Mars Perseverance Rover
Observatory	Observatory spacecrafts occupy orbits (such as around the Earth or Sun) where they can observe distant targets without the interference of Earth’s atmosphere. Example: NASA’s Hubble Space Telescope
Communications & Navigation	Commonly known as a satellite, a communication and navigation spacecraft is an independent space-based system that generates its own power, maintains its orientation, and transmits data between Earth stations by pointing its antenna toward Earth. Example: Global Positioning System (GPS)