Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 40

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 40
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, thereby enhancing the market. Consequently, smallsats now provide operational
services previously exclusive to larger satellites. Euroconsult projects that approximately 26,104 smallsats (under 500 kg) will be launched
between 2023 and 2032, averaging a daily launch mass of 1.5 tons over the decade.

Moreover,
this market growth has led to the emergence of new segments, such as nanosatellites (weighing less than 10 kg) and microsatellites (weighing
between 10 and 100 kg). These satellites can operate individually or as part of constellations—large groups of interconnected satellites
providing services like global internet connectivity, exemplified by SpaceX’s Starlink constellation. 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. Notably, 3,335
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 (LEO) 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

Results
of Operations

Comparison
of quarter ended March 31, 2025, to quarter ended March 31, 2024

The
following table provides certain selected financial information for the periods presented:

    Three Months Ended  

    March 31,  

    2025