The global nanosatellite and microsatellite market size is expected to reach USD 7.13 Billion at a steady CAGR of 19.8% in 2028, according to latest analysis by Emergen Research. Increasing demand for improved communications and services and growing traction of Internet of Things are some key factors driving growth of the global nanosatellite and microsatellite market.
Microsatellites and nanosatellites are used for a variety of reasons, including commercial, communication, and space research, and are less expensive than regular satellites. Due to their shorter development times, lighter weight, superior ability to do complicated computer tasks, and lower launch costs, these satellites are in higher demand. To offer a wide variety of satellite-based services, major firms like GomSpace, Planet Labs, and Sierra Nevada Corporation frequently launch constellations of micro- and nanosatellites.
The market for nanosatellites and microsatellites is anticipated to develop as a result of factors including CubeSats’ increased production and launch rates as well as their smaller size and weight when compared to conventional satellites. But the payload capacity restrictions of small satellites and onerous government regulations impede business expansion. Additionally, it is anticipated that rising business demand for satellite data and for nano- and microsatellites would present profitable growth prospects for market participants.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Nanosatellite and Microsatellite Market . Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analyzed and validated through primaries.
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The research report on the Global Nanosatellite and Microsatellite Market is formulated with insightful data that will help the established companies and new entrants to analyze the business trends and capitalize on investment strategies. The Nanosatellite and Microsatellite Market is analyzed with an aim to provide assistance to the readers to gain maximum returns on the investment and to enable an informed decision-making process.
Key Nanosatellite and Microsatellite Market participants include Planet Labs, Innovative Solutions in Space, Space Quest, D-Orbit, Deep Blue Globe, DHV Technology, Berlin Space Technology, ADASPACE, Adaptive Lunch Solution, and Alén Space.
Key inclusions of the Nanosatellite and Microsatellite Market report:
COVID-19 effects on growth figures.
Statistical analysis pertaining to market size, sales volume, and overall industry revenue.
Organized mentions of major market trends.
Growth opportunities.
Figures showcasing market growth rate.
Advantages and disadvantages of direct and indirect sales channels.
Insights regarding traders, distributors, and dealers present in the industry.
Some Key Highlights from the Report :
In August 2020, Alén Space partnered with Orbital Transports for their Nanosatellite and Microsatellite products consisting of SmallSat Catalog. This acquisition is expected to help in the nanosatellite and microsatellite application of Emerson for commercial and defense purposes.
Application segment revenue is expected to grow at the fastest rate over the forecast period. Applications of nano satellite include for communications, Earth monitoring, and remote sensing.
Among the vertical segments, has commercial segment accounted for largest revenue share in the market, driven by increasing deployment of nanosatellites and microsatellites for commercial applications.
North America accounted for maximum revenue share in 2020 and expected to continue to account for majority revenue share over the forecasted period. This can be attributed to rapidly growing communication channels and rising data volumes driven by increasing number companies and sectors going digital.
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Emergen Research has segmented the global nanosatellite and microsatellite market based on component, application, vertical, and region:
Component Outlook (Revenue, USD Billion; 2021–2028)
- Solar Panel
- Onboard Computers
- Power System
- Antennas
- Sensors and Actuators
- Thermal Control System
Application Outlook (Revenue, USD Billion; 2021–2028)
- Communication
- Earth Monitoring
- Scientific Research
- Biological Research
- Mapping and Navigation
- Academic Training
Vertical Outlook (Revenue, USD Billion; 2021–2028)
- Defense
- Government
- Commercial
- Civil
- Broadcasting
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Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
United States
Europe
China
Japan
Southeast Asia
India
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
What market dynamics does this report cover?
The report shares key insights on:
- Current market size
- Market forecast
- Market opportunities
- Key drivers and restraints
- Regulatory scenario
- Industry trend
- New product approvals/launch
- Promotion and marketing initiatives
- Pricing analysis
- Competitive landscape
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