The global space economy is entering a phase of accelerated growth, driven by the expansion of satellite constellations, rising demand for satellite data and the increasing commercialization of the sector. In this environment, the small satellite segment, in which Scanway S.A. operates, is becoming one of the key growth areas of the space market.
The global space economy could reach USD 1.4 trillion by 2032, with an estimated CAGR of around 11.7%, and approximately USD 1.8 trillion by 2035, growing faster than global GDP. This expansion is being supported by satellite-based services in telecommunications, navigation and Earth observation, as well as the growing integration of space technologies with other sectors of the economy.
The number of rocket launches is also rising rapidly. Orbital launches increased from 114 in 2020 to a record 324 in 2025. Forecasts suggest that by 2035 the number of launches could exceed 967 annually, while SpaceX alone may conduct more than 350 launches per year by 2030. This trend reflects the growing demand for placing satellites, especially small satellites and low Earth orbit constellations, into orbit.
Scanway operates in the smallsat segment, offering optical observation instruments for micro- and minisatellites weighing between 10 and 500 kg. The company addresses the growing need for high-resolution satellite imagery while meeting the strict mass, volume and cost constraints faced by operators and mission integrators.
The company positions itself between cheaper, lower-resolution CubeSat solutions and large, expensive observation payloads supplied by players such as Maxar or Airbus. This gives Scanway exposure to the growing market for satellite constellations, tactical observation and dual-use solutions.
According to Novaspace, the number of small satellites launched is expected to rise sharply from 871 units in 2014–2023 to around 13,984 units in 2024–2033. This reflects a fundamental shift in space infrastructure toward distributed satellite constellations. The average mass of small satellites is also expected to increase from around 55 kg to approximately 92 kg, showing that platforms are becoming more technologically advanced and capable of carrying more sophisticated payloads.
The economic value of the segment is also set to grow significantly. Novaspace estimates that the cumulative value of the small satellite market will rise from around USD 34 billion in 2014–2023 to about USD 133 billion in 2024–2033. MarketsandMarkets also forecasts strong expansion, with the global small satellite market potentially growing from USD 9.35 billion in 2025 to USD 32.13 billion in 2030, implying a CAGR of around 28%.
Earth observation remains another important growth area. The market for Earth observation satellites is expected to increase from approximately USD 4.3 billion in 2025 to around USD 5.9 billion in 2030. Growth is being supported by constellations of smaller satellites offering higher revisit rates, very high-resolution imaging, radar technologies, data analytics and AI-based services. Earth observation data could generate hundreds of billions of dollars in economic value by 2030 in sectors such as agriculture, infrastructure and natural resource management.
Lunar exploration is also becoming a strategic direction for the global space sector and for Scanway. Public funding for space exploration is expected to rise from around USD 26 billion in 2023 to nearly USD 33 billion in 2032, while investment in lunar missions may grow from approximately USD 11 billion to almost USD 17 billion. The number of exploration missions is expected to more than triple, from 236 to around 751, with lunar missions accounting for about 31% of the total.
The Polish space sector is also gaining importance. According to the Industrial Development Agency, the value of Poland’s space sector exceeds PLN 12 billion, including around PLN 5.3 billion in strictly space-related technologies. Around 170 entities operate in the sector, including companies and research institutions. The industry employs about 3,000 people and generates annual revenues of approximately PLN 300 million.
In 2024, 21 leading Polish space companies employed 1,268 people, representing year-on-year growth of around 30%. The sector also indicates demand for around 250–270 new specialists annually, confirming both the need for qualified talent and the further development potential of Poland’s space industry.
