Constellations of small satellites—“smallsats”, i.e. low cost, low mass (1-150 kg) and small sized— dominate the news today, touted in applications as wide-ranging as providing universal connectivity, ubiquitous broadband coverage, and daily observation of the Earth. Today, a combination of miniaturized commercial off-the-shelf components (COTS) and satellite technology, coupled with advanced sensors, faster computing, and a need for better actionable imagery, have all acted to usher in a new era for smallsats in the commercial market. In reality, increasingly reliable technology and permissive regulation have enabled ambitious constellation projects that could threaten the telecommunications industry and claim a non-negligible share of the emerging markets. This report surveys the technical and entrepreneurial landscape and uses these insights to develop future adoption scenarios for smallsats in key commercial applications.Download Full Report Download Full Report