Rendition of Estonian nanosatellite ESTCube 1 on-orbit. Photo: Taavi Torim.

Euroconsult expects more than 6,200 smallsats will be launched over the next 10 years, according to its “Prospects for the Small Satellite Market” report released on Aug. 11. Analysts from the company stated that the roll-out of multiple constellations, mainly for commercial operators, account for more than 70 percent of that total.

The total market value of these smallsats could reach $30.1 billion in the next 10 years, up from $8.9 billion over the previous decade, the report stated. The smallsat market has quickly expanded over the last five years and will experience a sustained expansion in the future. Constellations’ demand is more cyclical with strong variations driven by deployment in batches whereas demand for single satellite missions is more stable.

Improvements in performance are also changing the shape of satellites; miniaturization is a continuous process that gives customers the choice between lighter satellites with the same capabilities or heavier, more powerful satellites. In the heaviest mass category, smallsats are now able to perform missions that in the past were only achievable by satellites heavier than 500kg, the report highlighted.

Updated 08/16/2017: This article erroneously attributed the research report to Research & Markets. It has been updated to reflect Euroconsult as the original author of the report.