According to IMARC Group’s latest report, titled “Nanosatellite and Microsatellite Market Share: Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026,” the global nanosatellite and microsatellite market reached a value of US$ 1.64 Billion in 2020. Looking forward, the market is expected to exhibit strong growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Nanosatellites and microsatellites (NaM) are miniaturized artificial satellites that weigh between 1 to 10 kilograms. They circle the earth in a circular or elliptical orbit and are generally launched at low altitudes. These satellites travel at high speeds and offer optimum solutions for communications, land observations, and remote sensing. They include various hardware, software and data processing devices that are used for geographical mapping, navigation, and scientific research purposes.
A significant growth in the aeronautic industry is primarily driving the market for nanosatellite and microsatellite. Furthermore, the rising adoption of NaMs across civil, commercial, and defense sectors to conduct low-cost space missions, including geolocation, signal monitoring, and communications, is also providing a thrust to the market growth. Numerous technological advancements, such as the integration of these satellites with the Internet-of-Things (IoT), Very High Frequency (VHG), Ultra High Frequency (UHF), and visible transmission technologies, are acting as another growth-inducing factor. These technologies aid in increasing signal frequencies and overall data transfer speeds between satellites and ground stations. Several other factors, such as the deployment of solar panels and star tracker solutions along with extensive R&D activities in space science, are expected to further drive the global market for NaM in the coming years.
List of Key Companies Covered in this Market Report:
- AAC Clyde Space
- Axelspace Corporation
- Berlin Space Technologies
- L3harris Technologies Inc.
- Lockheed Martin Corporation
- Planet Labs Tb Inc.
- Spacequest Ltd.
- Spire Inc (NYSE: SR)
- Surrey Satellite Technology
The report has segmented on the basis of satellite, component, application, end-use sector and geography
Breakup by Satellite:
- Nanosatellite (1kg to 10kg)
- Microsatellite (10kg to 100kg)
Breakup by Component:
- Software and Data Processing
- Space Services
- Launch Services
- Earth Observation and Remote Sensing
- Scientific Research
- Biological Experiments
- Technology Demonstration and Verification
- Academic Training
- Mapping and Navigation
Breakup by End-Use Sector:
- Energy and Infrastructure
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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