The global Nanosatellite And Microsatellite Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Nanosatellite and Microsatellite Market is anticipated to reach USD 4.97 billion by 2025. Nanosatellites and microsatellites (NaM) are mostly used for observing the earth, communication, and to serve space research purposes. In addition, Nanosatellites and Microsatellites find their applications in Defense and Military verticals for commercial purposes.
Key Players:
- Dauria Aerospace
- GomSpace Group AB
- Innovative Solutions in Space (ISIS)
- Sierra Nevada Corporation (SNC).
- SpaceQuest Ltd.
- Spire Global, Inc.
- Surrey Satellite Technology Limited (SSTL)
- The Boeing Company
- Tyvak
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Growth Drivers:
The factors that propel the growth of the Nanosatellite and Microsatellite industry include high demand for miniature satellites to study the earth, increased investments in nanosatellite and microsatellite technologies, and low manufacturing cost of miniature satellites. The market is estimated to grow at a significant CAGR in the forecast period as the scope, product types, and its applications are growing across the globe.
Key Components:
- Service
- Launch Service
- Hardware
- Software and Data Processing
The “Software and Data Processing” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 as data and software processing is important to extract illegal information from raw data found from miniature satellites.
Mass Outlook:
- Microsatellite
- Nanosatellite
Application Outlook:
- Communication and navigation
- Earth observation/remote sensing
- Scientific research
- Technology and academic training
End Use Outlook:
- Government
- Defense and Security
- Commercial
- Civil
Regional Outlook:
North America accounted for the major share of the Nanosatellite and Microsatellite Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increase in the demand for these satellites from different end-use segments such as research organizations, telecommunications, and military & defense. Further, the rising demand from the military segment is anticipated to influence industry development in the forecast period.
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