The future of astronomy with small satellites

The number of small satellites has grown dramatically in the past decade from tens of satellites per year in the mid-2010s to a projection of tens of thousands in orbit by the mid-2020s. This presents both problems and opportunities for observational astronomy. Small satellites offer complementary cost-effective capabilities to both ground-based astronomy and larger space missions. Compared to ground-based astronomy, these advantages are not just in the accessibility of wavelength ranges where the Earth's atmosphere is opaque, but also in stable, high precision photometry, long-term monitoring and improved areal coverage. Astronomy has a long history of new observational parameter spaces leading to major discoveries. Here we discuss the potential for small satellites to explore new parameter spaces in astrophysics, drawing on examples from current and proposed missions, and spanning a wide range of science goals from binary stars, exoplanets and solar system science to the early Universe and fundamental physics.