Key Players
Competitive Landscape
Three supplier groups compete in the Small Modular Reactor Market: light-water reactor deployment platforms, state-backed construction and operating platforms, and advanced reactor or microreactor developers.
Competition has moved from design claims toward project evidence. Rolls-Royce SMR has a contract for three units at Wylfa, the first GE Hitachi BWRX-300 is under construction at Darlington, and TerraPower holds a USA construction permit for Kemmerer Unit 1. Buyers now compare the licence position with owner commitment, fuel readiness and supplier capacity.
Company developments mapped to drivers, trends and opportunities (2026-2036)
| Development | Driver | Trend | Opportunity |
|---|---|---|---|
| Great British Energy - Nuclear and Rolls-Royce SMR signed the UK delivery contract in April 2026. | The UK requires firm domestic power and a selected route for new nuclear capacity. | National programs are moving from technology selection into site-specific design and planning. | Three initial units create demand for engineering, factory components and long-term service capability. |
| The USA Nuclear Regulatory Commission issued TerraPower a construction permit in March 2026. | Advanced-reactor projects need a completed safety review before nuclear construction can proceed. | Non-light-water systems are moving from demonstration planning into licensed site execution. | Project delivery creates demand for sodium-reactor components, fuel services and repeat-project engineering. |
| The Canadian Nuclear Safety Commission lifted Darlington's first regulatory hold point in March 2026. | Utilities need regulator-confirmed progress before committing capital to later construction stages. | Construction oversight is shifting from licence issuance to defined hold-point completion. | Experience from the first BWRX-300 can support additional units and a local service base. |
China National Nuclear Corporation, Rosatom, NuScale Power, X-energy, Westinghouse Electric, Korea Hydro & Nuclear Power and Électricité de France are advancing construction, licensing or technology programs outside the three developments mapped below.
Source: Future Market Insights, Small Modular Reactor Market report, 2026-2036.
Buyers compare licensing status, a committed owner, the fuel pathway and qualified supplier capacity. Regulatory approvals remain specific to the named design and jurisdiction.
Who leads the Small Modular Reactor Market?
GE Hitachi Nuclear Energy leads this project-maturity comparison because the first BWRX-300 is under construction at Darlington and the platform is moving through additional licensing programs. This comparison measures documented project maturity, not corporate revenue.
Which suppliers have documented approvals?
NuScale holds USA design approval for its 77 MWe module, SMART100 has Standard Design Approval in South Korea, TerraPower holds a USA construction permit, X-energy has completed the environmental assessment for its Dow project, and Westinghouse has an approved preliminary safety design report for the eVinci test reactor.
Which companies provide light-water reactor platforms?
GE Hitachi Nuclear Energy, China National Nuclear Corporation, Rolls-Royce SMR Ltd, NuScale Power Corporation and Korea Hydro & Nuclear Power provide light-water reactor platforms. Rosatom also has operating experience with water-cooled modular reactors.
Which companies cover industrial heat and remote-power applications?
X-energy targets electricity and high-temperature industrial steam, while NuScale and CNNC present multi-use configurations. Rosatom and Westinghouse cover remote-power routes through floating or transportable reactor platforms.
Representative Company Overview
| Company | Positioning | Verified market-relevant capabilities |
|---|---|---|
| GE Hitachi Nuclear Energy | Construction-stage light-water SMR | The BWRX-300 is under construction in Canada, with additional licensing and deployment work in the United States and Europe. |
| China National Nuclear Corporation (CNNC) | State-backed multi-purpose SMR | Linglong One is under construction in China for electricity, heating, desalination and industrial steam applications. |
| Rolls-Royce SMR Ltd | Contracted European fleet platform | The company has a contract for three units at Wylfa and additional commitments under development in Europe. |
| Rosatom | Operating remote-power platform | Rosatom operates the Akademik Lomonosov floating nuclear power plant and is advancing further modular reactor projects. |
| NuScale Power Corporation | Design-approved multi-module platform | The 77 MWe module has USA design approval, with configurations covering electricity and selected non-electric applications. |
| TerraPower | Construction-permitted advanced reactor | Kemmerer Unit 1 holds a USA construction permit and provides a reference route for the Natrium platform. |
| X-energy | High-temperature industrial reactor | The Dow project combines electricity with high-temperature steam, while fuel-facility construction supports future deployment. |
| Westinghouse Electric Company | Microreactor and SMR portfolio | The eVinci test reactor has an approved preliminary safety design report, while AP300 development targets grid-scale deployment. |
| Korea Hydro & Nuclear Power (KHNP) | Export-oriented light-water SMR | KHNP participates in the SMART100 program, which received Standard Design Approval in South Korea. |
| Électricité de France (EDF) | European SMR program developer | EDF is advancing the NUWARD program through European engineering partnerships and market-development agreements. |
Research Methodology
The companies here show how the Small Modular Reactor Market is structured rather than ranking corporate scale or revenue. Inclusion requires official evidence of construction, licensing, design approval, operating experience or a defined commercial program within the market. Regulator decisions, government publications and company disclosures establish current actions. Approvals remain specific to the design, entity and site that hold them.
