new@space - tiny cube with huge potential
A set of NanoRacks CubeSats is deployed by the NanoRacks CubeSat Deployer attached to the end of the Japanese robotic arm (source: NASA)
The buzzword in the Satellite industry now? That's right... Small satellites!
You can call them small, tiny, micro, LEO (Low Earth Orbit), like CubeSats and NanoSats ... all of them fit into this category and are responsible for the booming growth in the Satellite industry.
Let's pin down some numbers first
Considering the overall Satellite industry globally in 2016, the minisatellite spacecraft generated $2.5 Billion in revenues worldwide and the sector is expected to grow steadily in the future and be worth $10.1 Billion by 2021 (32% CAGR from 2017).
What's more, Satellite Services, Satellite Ground Equipment and Satellite Launch Services industries have been presenting promising growth figures. At the top, representing the industry's leading segment, Satellite Services, including satellite broadband and Earth Observation, reached 127.7 Billion as revenues in 2016.
No doubt - Investors are keeping a close eye on the Satellite industry!
Besides the enormous financial value underlying this segment, a much greater return is coming out of the development of these tiny satellites.
Indeed, they are revolutionizing the Space industry in three fundamental ways - Technology, Costs & Industry Dynamics - bringing a whole new wave of innovation to the sector!
New Space dynamics
Small satellites per se are not something new - think of the first satellites developed by the Soviet Union or the US. So, the differentiation does not lie so much on the physical size or its mass, rather, the underlying state of mind underpinning their development.
Beyond the advancement in technology brought by small satellites, innovation came especially from the change the Space industry dynamics itself.
Before, this sector was regarded as being dominated only by large organisations with a great amount of capital to make Space missions come to life. From research and development, manufacturing, endless testing and simulations - Space projects are extremely time-consuming and risky, physically and financially. However, over time, this risk aversion is reflected in technology obsolescence and limited innovation.
Moreover, not only large organisations are taking on these Space endeavours, rather, smaller companies and universities have been contributing greatly to pushing the Satellite technology forward.
Having small-sized satellites means that engineers take more risks in experimenting with new technologies, while reducing significantly development cycle time and costs, especially in manufacturing and launching - the complete opposite of what the sector has been characterized so far!
Though being tiny, these satellites present the same technical complexities as the large ones, demanding a great deal of knowledge and skills for those who are starting. So, small satellite projects become almost like 'mini Space missions' and a great initiative among university engineering students and entrepreneurial organisations to get full hands-on experience and the opportunity to shape the future of Space technology.
An example of technology innovation in LEO satellites results from converging commercially available technologies into the spacecraft. What's more, experiments taking their first steps at universities are then applied into real Space missions.
For instance, MarCO, the first CubeSat developed by NASA designed to travel beyond low Earth orbit, will include an ultra-low power microprocessor component (Texas Instruments MSP430), typically found in toasters, showerheads and razors. Other 'off-the-shelf technologies' (COTS) will be solar panels from MMA Design and attitude control and position system from Blue Canyon Technologies.
This introduces a new paradigm in the Space sector - now known as the 'NewSpace' segment.
In short, this new movement is fostering greater innovation, at a faster speed and much lower cost - going from the miniature size to be replicated into the standard satellites or other spacecraft. In turn, the lower cost of entry, the miniaturization of technology and the entrepreneurial environment ripe for new opportunities have advanced small satellite technology into the competitive marketplace.
Article written by Teresa Duarte @ VisionSpace
