Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 1087

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 1087
---
smallsats under 10 kg are anticipated to launch in the next decade, more than doubling the 1,656 launched between 2012 and 2021. Satellites
in this category, especially CubeSats, have gained momentum recently, with 1,187 launched in the past five years alone.

The
growth in low earth orbit satellite constellations is driven by technological advances in ground equipment, new business models,
expanded funding, and increasing demand for high bandwidth and lower latency. Although the satellite constellations market remains in
its early stages, significant growth is anticipated in the launch industry as companies seek versatile and cost-effective methods to
deploy single satellites to specific orbits or establish their satellite constellations. Furthermore, the expansion of the satellite
constellations market is expected to benefit satellite services offerings. LEO satellite constellations have relatively short lifespans
on orbit, necessitating the launch of replenishment satellites every few years.

Customer
/ Market Research

Euroconsult
reports that the smallsat manufacturing market, valued at $15.5 billion from 2012 to 2021, is expected to grow by 258% to $55.6 billion
over 2022 to 2031, driven by numerous constellation projects from both commercial and government stakeholders. The next decade will primarily
feature the rollout of multiple constellation projects, accounting for 81% of smallsat launches, mainly by commercial operators.As the
small satellite market grows, the requirement for rapid flight proven testing is becoming more crucial. Although ground-based testing
is available, it does not provide a mirrored testing environment for spacecraft and subcomponent testing. We intend to address this need
with our Sidus Constellation. Furthermore, customization of the Sidus Constellation with appropriate technology can provide subscription
data and imagery services for customers whose needs prompt consideration for a separate constellation. Currently, our core market corresponds
most directly with satellite manufacturing and offering LEO and Lunar solutions. However, we believe our addressable market can also
continue to expand in similar and adjacent industries such as government and defense manufacturing. We have generated space-related manufacturing
revenue since 2012, and we have been generating revenue from our commercial satellite offering since the first quarter of 2022 as we
continue to secure customers for future LizzieSat missions. We signed a multi-launch agreement with SpaceX for multiple LizzieSat®
rideshare missions beginning in 2024. These satellite missions support previously announced customers as well as potential future customers