Press Release

Nano and Microsatellite Market Forecast by 2024 Current Developments, Manufacturers, Market Size & Share, Consumption

Nano and Microsatellite

This “Nano and Microsatellite Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Nano and Microsatellite market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The nano and microsatellite market is estimated to register a CAGR of over 18% during the forecast period, 2019 - 2024.
  • - The growing success rate of CubeSats in several space applications, such as education, earth observation, remote sensing, science, and defense, is driving many organizations to launch them in space.
  • - Additionally, the decreasing costs of launching the nano and microsatellites have propelled many schools and universities to launch their own satellites with the help of various satellite launching platforms around the world. This is one of the primary reason driving the market, as many venture capitalists are investing in startups in space technology.
  • - Earth observation applications now have a high-demand, and the market for these is expected to grow further. Over the last 10 years, the demand for nano and microsatellites for earth observation has grown by leaps and bounds, and this demand is expected to drive the growth of the market studied during the forecast period.
  • Nano and Microsatellite Market Covers Manufacturers:

  • Planet Labs Inc.
  • SPIRE
  • Surrey Satellite Technology Ltd
  • Swarm Technologies
  • SpaceQuest Ltd
  • Harris Corporation
  • Commsat
  • German Orbital Systems
  • Viasat Inc.
  • GomSpace Group AB
  • Sky and Space Global
  • Astrocast
  • Scope of the Report:

  • Satellites of weight class 1 kg - 10 kg are considered under the nanosatellite category, while the satellites having weights between 10 kg - 100 kg are considered under the microsatellite category. CubeSats of 8U and above are included in the microsatellite category, while those below them are included in nanosatellite category. Furthermore, the report includes the following aspects:
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    Key Market Trends:

    The Nanosatellite Segment is Expected to have the Highest Share in the Market During the Forecast Period

    The market studied is currently dominated by the nanosatellite segment, due to the growing R&D from schools, universities, and startups. In the past decade, schools, and universities have been highly involved in developing nanosatellites for research and earth observation applications. The segment is also expected to be the fastest growing segment in the market, as the investments in this segment are growing year-on-year. One of the main reasons for the growing investments in this segment is the relatively low cost of developing these satellites and the high success rate of launching these satellites in low-earth orbits.

    North America is Expected to Dominate the Market During the Forecast Period

    As of 2018, North America has the highest market share in the nano and microsatellite market. The United States launched more than 50% of the world's nano and microsatellites to date. In addition, every year, the country is launching a huge number of nano and microsatellites for various applications, including earth observation, remote sensing, communications, and military operations. In 2018 alone, the United States launched around 150 of these satellites, and about twice the number of those nano and microsatellites are planned to be launched in 2019 by the country. However, during the forecast period, Europe is expected to be the fastest-growing region, as companies in the region are investing more in nanosatellite technologies. Sky and Space Global Ltd, a British public company, is planning to launch a constellation of 200 nanosatellites in equatorial low earth orbit for narrowband communications. The launches are expected to be completed during the forecast period. Moreover, many universities and startups in Europe are collaborating with launch service providers to launch their own nano and microsatellites.

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    Target Audience of Nano and Microsatellite Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Nano and Microsatellite Market Report:

    • Analyzing various perspectives of the Nano and Microsatellite market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Nano and Microsatellite market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Nano and Microsatellite market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Nano and Microsatellite market studied, during the forecast period
    • The segments that are expected to dominate the Nano and Microsatellite market studied.

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