The market for satellite components has rapidly evolved in recent years with the emergence of online marketplaces that allow companies and organizations to easily source parts and services for building and operating satellites. These online platforms provide a centralized hub to connect satellite manufacturers, operators, and service providers with suppliers of components and subsystems from around the world.
Satellite Components
According to industry estimates, the global market for commercial satellite manufacturing is forecast to be approximately $18.2 billion by 2028. Driving this growth is the dramatic reduction in the cost of building and launching satellites enabled by the miniaturization of components and the standardization of satellite buses by companies like ISISPACE, Gomspace, and others. This has opened up opportunities for new entrants and accelerated innovation.
Online Marketplaces
The small satellite revolution has also created a need for an online ecosystem to match suppliers with buyers looking to procure satellite parts and services. Established marketplaces like SatSearch provide searchable databases of thousands of components like antennas, solar panels, and propulsion systems. They allow customers to compare products across vendors, facilitating procurement.
These platforms create transparency in satellite supply chains, connecting component makers with satellite manufacturers and operators. They provide access to space-grade components many of which have achieved technology readiness levels of 8 or higher, indicating flight heritage. By aggregating demand and supply, they create network effects that support specialization and economies of scale.
Online marketplaces are also enabling access to low-cost commercial off-the-shelf (COTS) components, which can satisfy mission requirements at a fraction of the cost of traditional space-grade parts. The use of COTS gear is accelerating as quality control and testing protocols improve.
Summary
Satellite component marketplaces are transforming procurement in the industry by opening up global supply chains and enabling access to cost-effective components. As small satellites continue proliferating, these digital platforms will become increasingly vital to the space ecosystem.