Nano and Micro Satellite Market Research Report - Global Forecast till 2024

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Nano and Micro Satellite Market Research Report
By Forecast To 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY Market Research Future (Part of
Wantstats Research Media Pvt. Ltd.)
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Nano and Micro Satellite Market Research Report -
Forecast to 2023
Global Nano and Micro Satellite Market Report
Information by Purpose (Earth Observation/ Remote
Sensing, Science/RD, Communications, and
Military Reconnaissance), by End-user
(Commercial, Civil / Government, and Military),
and by Region - Forecast To 2023. Nano and
microsatellites are downsized forms of satellites
and weigh between 1-10 kg and 10-100 kg,
respectively. They are the fastest growing
market in the satellite industry. 'CubeSat' is
one of the most popular types of downsized
satellites in this market. Utilization of
miniaturized satellites for military and defense
applications has been one of the major drivers
for the market. Along with the growth of UAVs
and modern equipment, the military also needs
more data, bandwidth, and reliable communication
infrastructure, which can be fulfilled by the use
of nano and microsatellites constellations. The
demand for these satellites for commercial
applications, such as GPS services and the
internet, has also increased. The low cost
required to build and operate these satellites
is also advantageous for the growth of the
market. The nano and microsatellites are utilized
for various applications, such as earth
observation/remote sensing, science/RD,
communications, and military reconnaissance
purposes. The utilization of UAVs and modern
equipment by military forces has increased. Many
of these UAVs need real-time flight and
surveillance data via satellites. It is not
possible to meet the growing demand for data and
bandwidth through the utilization of a limited
number of military and defense satellite
systems. Thus, military and defense forces are
now utilizing commercial satellite infrastructure
for increased bandwidth requirements. Due to
this, there is an increasing use of nano and
microsatellites, as a large portion of such
satellites could be launched at comparatively
lower costs while providing required
services. The earth observation and remote
sensing segment accounted for 71 nano and
microsatellites, in 2014. It was followed by the
science/RD and communications segments, which
accounted for 48 and 16 nano and microsatellites,
respectively. The military reconnaissance
segment accounted for 10 nano and
microsatellites, in 2014. Nano and
microsatellites are primarily utilized by
commercial organizations, civil/government
bodies, and military/defense. Global nano and
microsatellite market is expected to grow at a
CAGR of over 23, during the forecast period of
2018-2023.
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Nano and Micro Satellite Market Research Report -
Forecast to 2023
The cost to build nano and microsatellites have
largely reduced, however, launching at the orbit
still occupies a significant amount of cost.
Development of reusable space launch vehicle will
drastically reduce the launch cost. Numerous
rocket launches since the beginning of space
exploration have already left a substantial
amount of debris around the earth's orbit, which
is a major risk to space missions as impact from
debris as small as 1cm can also result in the
destruction of the system on impact. One of the
ways to dispose of a satellite in LEO, after the
end-of-life, is to deorbit. In some cases, the
ballistic coefficient and altitude of the
satellite are such that it will naturally deorbit
after a certain period. In many other cases, the
satellite needs to be deorbited using a
dedicated deorbiting system. Key Players The
key players for the global nano and
microsatellite market are Boeing Space Systems
(U.S.), Innovative Solution in Space (ISIS)
Group (Netherland), GomSpace A/S (Denmark),
Aerospace Corporation (U.S.), Lockheed Martin
Corporation (U.S.), Sierra Nevada Corporation
(U.S.), Ruag Group (Switzerland), GeoOptics
(Colorado), Planet Labs (U.S.), and Surrey
Satellite Technology (U.K).
Report Sample_at_ https//www.marketresearchfuture.co
m/sample_request/1254
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Nano and Micro Satellite Market Research Report -
Forecast to 2023
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Nano and Micro Satellite Market Research Report -
Forecast to 2023
Regional Analysis There is increased demand for
nano and microsatellites from the
civil/government and commercial and military
sectors. Europe and North America have
traditionally developed and launched most
satellites. The growth in North America nano and
microsatellite market is mainly driven by the
presence of key players, such as Sierra Nevada
Corporation, Planet Labs Inc., and others. They
are carrying out various activities which are
boosting the growth of the market. However, the
growing need for satellite-based infrastructure
in emerging countries, such as China and India,
has contributed to the development of the market
in APAC. The best example of low-cost satellite
launching technique is the launch of PSLV - C28,
which was launched in 2015, and PSLV - XL - C38
has been recently launched by the Indian Space
Research Organization (ISRO), in the year
2017. Upgrading the technology of nano and
microsatellites has not only facilitated
developing countries to grow their satellite
infrastructure but have also opened up revolution
in the markets. The U.S. and Canada are the major
markets in the Americas for space-based programs.
Both the countries have an advanced
infrastructure and are involved in various space
programs. Companies, such as NASA and SpaceX, are
developing new systems that are expected to meet
the growing demand for nano and microsatellites
in the future. The market in Europe has high
technological capabilities and the needed
infrastructure for space launch missions. Russia,
Ukraine, Italy, France, Germany, Spain, the U.K,
and Norway are the leading markets in this
region. The ESA largely contributes to the
development of satellite-based infrastructure and
space launch missions. Israel, Saudi Arabia, and
UAE are few of the major markets in the Middle
East. Africa is currently a small market and
lacks the technological capabilities and
infrastructure. Browse Report _at_
https//www.marketresearchfuture.com/reports/nano-
micro-satellite-market-1254
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