Author: Scanway
Publication date:
The global space economy is entering a phase of accelerated growth, driven by the development of satellite constellations, growing demand for satellite data, and the commercialization of the sector. In this environment, the smallsat segment, in which Scanway S.A. operates, is becoming an important area of growth for the space market
- The global space economy could reach $1.4 trillion by 2032 (CAGR of approximately 11.7%) and approximately $1.8 trillion by 2035, growing faster than global GDP
- The number of rocket launches has increased from 114 in 2020 to 324 in 2025, and by 2035 it could exceed 967 per year; SpaceX alone could carry out more than 350 launches per year by 2030.
- The smallsat segment is growing rapidly—between 2024 and 2033, the number of satellites launched will reach approximately 13,984 (compared to 871 in the previous decade), with increasing technological sophistication (average mass rising from approximately 55 kg to approximately 92 kg). The cumulative market value will rise from approximately $34 billion to approximately $133 billion, more than tripling the segment’s economic scale
- The Earth observation segment is growing steadily—the market value is expected to increase from approximately $4.3 billion in 2025 to approximately $5.9 billion in 2030 (CAGR 6–7%), driven by the growing role of satellite constellations, data analytics, and AI solutions. At the same time, EO data could generate hundreds of billions of USD in economic value by 2030.
- Lunar exploration is accelerating—global funding for space exploration will rise from $26 billion in 2023 to approximately $33 billion in 2032, including investments in lunar missions rising from $11 billion to approximately $17 billion; the number of missions will more than triple (from 236 to approximately 751), of which lunar missions will account for about 31%.
The market in which Scanway S.A. operates
The company operates in the smallsat segment, offering optical observation instruments for microsatellites and minisatellites (10–500 kg). This segment directly addresses the growing demand for high-resolution satellite imagery, while addressing the weight, volume, and cost constraints faced by operators and mission integrators.
It positions itself between lower-cost, low-resolution solutions for CubeSats and large, expensive observation payloads from companies like Maxar or Airbus, targeting the growing market for satellite constellations. From the perspective of commercial and institutional applications, this segment plays a significant role in constellation missions, tactical observation, and dual-use solutions.
The Dynamics of the Global Space Economy
A report by Coherent Market Insights (“Global Space Economy Market Size and Share Analysis – Growth Trends and Forecasts, 2025–2032,” April 2025) indicates that the value of the global space economy could reach $646.9 billion in 2025, compared to $615–626 billion in 2024 according to the World Economic Forum and The Space Economic Report, representing growth of approximately 4% year-over-year. In the coming years, the market is expected to grow to $1,403.49 billion in 2032, with a projected compound annual growth rate (CAGR) of approximately 11.7%, which confirms the sector’s strong momentum in the coming decade.
Even more ambitious projections are presented by the World Economic Forum and McKinsey & Company in the report “Space: The $1.8 Trillion Opportunity for Global Economic Growth,” estimating the market value at approximately $1.8 trillion in 2035. This represents a growth rate exceeding that of global GDP. Among the main drivers of growth are the development of services based on satellite data—particularly in the areas of telecommunications, navigation, and Earth observation—and the growing integration of space technologies with other sectors of the economy.
Increase in the number of removals
The growing importance of orbital launch services is directly reflected in the statistics on the number of rocket launches. According to data from SpaceStatsOnline (“Orbital launches in 2025”), a clear upward trend has been observed since 2020—the number of orbital launches has increased from 114 in 2020 to a record 324 in 2025. This represents nearly a threefold increase over five years and confirms the dynamic growth of global space activity. Forecasts indicate that by 2035, the number of launches could exceed 967 per year, with SpaceX alone potentially conducting more than 350 launches per year as early as 2030.
At the same time, the value of the launch services market is growing. The report “Rocket Launch Services Market Size, Share & Industry Analysis Report, 2024–2030” projects a compound annual growth rate (CAGR) of approximately 10.9%, leading to a market value of about $18 billion by 2030. This growth is primarily driven by rising demand for satellite launches, particularly for small satellites and low Earth orbit (LEO) constellations.
A more dynamic scenario is presented in a report by MarkNtel Advisors (“Global Space Launch Services Market – Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2025–2030”), according to which the market value could reach $30–40 billion by 2030. Key drivers include the development of mega-constellations, the increase in the number of commercial missions, and the ongoing commercialization of the space sector.
The Growth of the Small Satellite Market
In the 10th edition of its report “Prospects for the Small Satellite Market” (December 2024), Novaspace forecasts very strong growth in the number of small satellites launched—from 871 units in the 2014–2023 decade to approximately 13,984 in 2024–2033. The scale of this change points to a fundamental transformation in the model of space infrastructure utilization, shifting toward architectures based on numerous, distributed satellite constellations.
According to Novaspace’s analyses, the technological sophistication of these platforms is also increasing. The average mass of a small satellite will increase from approximately 55 kg between 2014 and 2023 to approximately 92 kg in the following decade. This trend reflects a market shift toward more advanced systems capable of integrating complex onboard instruments, including high-end optical sensors and other specialized payloads. As a result, not only is the number of satellites growing, but so too are their functionality and operational value.
Forecasts also indicate a significant increase in the market’s value—from approximately $34 billion between 2014 and 2023 to approximately $133 billion between 2024 and 2033, which represents more than a threefold increase in the economic scale of this segment.
Additionally, according to a MarketsandMarkets report (“Small Satellite Market – Global Forecast to 2030,” 2024), the global small satellite market is projected to grow from approximately $9.35 billion in 2025 to approximately $32.13 billion in 2030, achieving a very high compound annual growth rate (CAGR) of about 28%. At the same time, the scale of production will increase—the number of satellites manufactured annually will rise from approximately 2,793 in 2025 to over 5,000 in 2030.
A report by the European Space Agency (“ESA Report on the Space Economy 2025,” March 2025) confirms that the growth of the global space economy is increasingly driven by low-Earth orbit satellite constellations and the growing activity of the commercial sector, in which the small satellite segment plays a key role.
Earth Observation
According to a Mordor Intelligence report (“Earth Observation Satellite Market – Growth, Trends, COVID-19 Impact, and Forecasts (2025–2030)”) the Earth observation satellite market is projected to grow from approximately $4.3 billion in 2025 to approximately $5.9 billion in 2030, representing a compound annual growth rate (CAGR) of approximately 6–7%. This segment is evolving toward constellations of smaller satellites that provide high revisit rates, while maintaining the very-high-resolution imaging segment and the growing role of radar technologies. Value-added services are also becoming increasingly important, particularly data analytics and artificial intelligence-based solutions.
According to a World Economic Forum report (“Amplifying the Value of Earth Observation Data: A Strategy for the Global Development Community”), 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 as a Strategic Priority
A key area of growth for Scanway S.A. is lunar exploration. The Euroconsult report (“Prospects for Space Exploration”) highlights the growing importance of the so-called lunar economy in the global New Space sector and the increasing role of exploration programs in national strategies. Global public funding for space exploration amounted to approximately $26 billion in 2023 and could rise to nearly $33 billion by 2032, with investment in lunar missions increasing from approximately $11 billion to nearly $17 billion.
Forecasts also indicate a significant increase in the number of missions—between 2023 and 2032, their number is expected to more than triple, from 236 to approximately 751, of which about 31% will be lunar missions. To date, five countries have carried out moon landings: the Soviet Union/Russia, the United States, China, India, and Japan. At the same time, the U.S. (the Artemis program) and China (the ILRS program) plan to carry out crewed lunar missions before the end of this decade.
The report highlights the growing importance of public-private partnerships, as well as the increasing role of small satellites, which can serve as test platforms and as communication, navigation, and observation systems in exploration architectures.
An example of the acceleration of investment in lunar infrastructure is NASA’s “Ignition” program, which involves the development of a lunar base and an increase in the frequency of landings through reusable mission architectures and collaboration with the private sector. The cost of the first two phases of the program, spanning seven years, is estimated at approximately $20 billion.
The Polish Space Sector in the Context of the Global Market
According to a report by the Industrial Development Agency S.A. (“The Polish Space Sector 2025,” January 2026) indicates that the value of the domestic space sector exceeds 12 billion PLN, of which approximately 5.3 billion PLN is attributable to strictly space-related technologies. There are approximately 170 entities operating in the sector, including companies and research and development institutions.
The sector employs approximately 3,000 people and generates annual revenue of about 300 mln zł. In 2024, 1,268 people were employed by 21 leading companies, representing a year-over-year increase of approximately 30%. At the same time, the industry highlights the need to recruit approximately 250–270 new specialists annually, which confirms the growing demand for highly qualified personnel and the sector’s continued growth potential.
About Scanway:
Scanway S.A. is a Polish company that has been in business for 10 years. It specializes in the optical data chain, which includes data acquisition, processing, analytics, and event prediction based on that data. In the Space segment, it provides both hardware solutions (optical instruments, such as telescopes and cameras) and imaging analytics. In the Industry segment, it offers solutions (products) based on image data processing, including complete quality control systems. The Company’s expertise and experience in both fields are complementary and create synergies. Scanway strives to provide its customers with full access to key optical data in both segments.
As one of a dozen or so companies worldwide, Scanway has developed a complete line of optoelectronic products for Earth observation from orbit. The company carries out key contracts for space equipment in Poland and around the world, including for commercial clients. It operates STAR VIBE, Poland’s longest-operating optical observation satellite. The company’s solutions have been incorporated into the most important European and Polish space missions of 2024: among other achievements, the company deployed its equipment (Scanway Camera System) on the maiden flight of Europe’s newest launch vehicle, Ariane 6, and supplied Poland’s largest-ever telescope, weighing approximately 10 kg (SOP200), to EagleEye.
The company has completed nearly 50 quality control implementations in the industrial sector. As a technology partner to the sector’s largest manufacturers, it develops proprietary software solutions using AI and advanced applications for Industry 4.0.
On March 27, 2026, the company made its debut on the Main Market of the Warsaw Stock Exchange. For more information: https://scanway.pl/
Additional information:
Katarzyna Żądło
Chief Communication & Investor Relations Officer
Scanway S.A.
+48 661 601 402
k.zadlo@scanway.pl
Mardoniusz Maćkowiak
Investor Relations Manager
cc group
+48 605 959 539
mardoniusz.mackowiak@ccgroup.pl
Franciszek Szukała
Financial Communication Manager
cc group
+48 664 920 048
franciszek.szukala@ccgroup.pl