What micro-satellites are and why Pham Nhat Vuong and Viettel are pushing to enter the field.

VinSpace, a Vingroup-affiliated company, says it can manufacture or supply satellite platforms, turn a constellation of satellites into a platform for data services, and convert data into solutions for enterprises and regulators. In its latest annual report, VinSpace’s operating plan focuses on researching and manufacturing a micro-satellite constellation under a “Made in Vietnam” initiative, aimed at providing telecommunications, remote sensing and related applications to support economic and social development. The company’s stated goal is to gradually master the capability to manufacture and launch its first micro-satellites into orbit in 2027.

What micro-satellites are and why the market is attracting new entrants

According to NASA’s concept, a small satellite is defined as having a mass under 180 kg (including fuel). Satellites are categorized by size ranges including 100–180 kg, 10–100 kg, 1–10 kg, and micro-satellites as small as 0.001 kg.

CubeSats are nano-satellites with a standard size of 10x10x10 cm (1U) that can be expanded to larger sizes. In Vietnam, job postings for VinSpace have presented the company as a technology pioneer developing CubeSats and micro-satellite platforms made in Vietnam.

Market growth and regional demand

Fortune reports that the global micro-satellite market reached USD 14.21 billion in 2025. It is forecast to rise to USD 15.18 billion in 2026 and reach USD 20.31 billion by 2034. North America accounts for about 49.21% of the market in 2025.

Asia-Pacific is also expanding quickly. By 2026, China’s market size is projected at USD 4.05 billion, India at USD 0.84 billion, and Japan at USD 0.49 billion.

Shift toward smaller telecom satellites and rising order share

The European Space Agency (ESA) highlighted in its 2024 Space Economy report a trend in the geostationary (GEO) telecom satellite market moving toward Micro-GEO—small telecom satellites in the 100–400 kg range. Since 2021, 36% of GEO orders have been for small-satellite classes.

Cost pressure, production methods, and defense-driven demand

The scale and growth potential of micro-satellites are linked to cost reductions enabled by production lines and 3D printing. These approaches support lighter, tougher and more complex satellite structures, helping scale future production.

Geopolitical tensions are also pushing countries to spend billions to deploy hundreds of small satellites for military and defense purposes. The U.S. Space Development Agency (SDA), for example, is pursuing a network of 400–600 low Earth orbit (LEO) satellites.

The microsatellite segment is described as expected to be the fastest-growing over time.

Space economy size and the upstream–downstream value chain

The overall space economy is estimated to exceed USD 670 billion in 2026, with Morgan Stanley forecasting up to USD 1 trillion by 2040.

ESA frames the market around two main segments: upstream (manufacturing and launch) and downstream (data and space services). In 2023, the total value of spacecraft and satellites was about EUR 53 billion, while the downstream data and space services market stood at EUR 358 billion. The largest downstream segment is satellite telecommunications and data analytics in Earth observation and remote sensing.

How satellite constellations translate into revenue and data products

SpaceX’s revenue is primarily driven by Starlink (satellite internet). Reuters reported 2025 revenue of around USD 15–16 billion, which could approach USD 20 billion in 2026. Planet Labs, by contrast, sells data rather than satellites: hundreds of small satellites continuously image the Earth and provide data to governments, businesses and investors for uses such as forecasting crop yields, monitoring supply chains and assessing economic activity in real time.

Experts cited in the article say micro-satellite constellations are driving changes on Earth by enabling global broadband with a Starlink-like pattern and Direct-to-Device (D2D) connections from satellites directly to smartphones.

High-resolution remote sensing data fused with AI is described as increasingly valuable for monitoring supply chains, agriculture and disaster response. The article emphasizes that owning satellites is not only about hardware, but also about controlling data at a global scale.

Vietnam’s context and related initiatives

While Vietnam has made early steps through the Vietnam Space Center (VNSC) with MicroDragon and NanoDragon satellites, the article says Vietnam still lacks a large-scale private model based on satellite data at regional or global scale.

It also notes that Viettel has indicated it studied a project for small, low-Earth-orbit satellites for dual use, under a directive from the Ministry of National Defense to research, manufacture and launch satellites by 2030.

Implications of VinSpace’s 2027 launch plan

Against this backdrop, the article presents multiple interpretations of Pham Nhat Vuong’s plan to launch micro-satellites in 2027. Positively, it is described as the first time a major private Vietnamese group is entering the space sector—an industry requiring large capital, advanced technology and a long-term horizon. If successful, it could open a new path for Vietnam’s technology ecosystem.

Operationally, VinSpace could produce or provide satellite platforms, turning a constellation into a data platform for enterprise and regulatory use, or invest in ground infrastructure where data is processed, stored and distributed.

The article also contrasts VinSpace with VinFast and VinAI, arguing that the significance may extend beyond hardware. It compares the role of a car as a data-generating platform—producing data such as driving behavior, road conditions and battery status—where value depends on transmission, AI processing and feedback loops. It adds that terrestrial connectivity (4G or 5G) does not cover everywhere, creating a bottleneck for smart vehicles.

In that framing, if VinSpace provides low-latency satellite connectivity, the article suggests Vingroup could build a closed loop linking car data to AI processing and its own transmission infrastructure, potentially positioning VinFast as more than an automaker—also as a mobile data platform. It concludes that in the EV race, the long-term advantage may depend less on the vehicle itself and more on controlling the data flowing inside it.

Leadership update

The article states that VinSpace’s new CEO is a former FPT executive who previously helped bring Vietnam’s satellites into space.