Press Release / Technology / Nano and Micro Satellite Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2021

Nano and Micro Satellite Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2021

Nano and Micro Satellite Market - Overview:

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 global Nano and Microsatellite Market is expected to grow at a CAGR of over 23%, during the forecast period of 2018-2023.

The nano and microsatellites are utilized for various applications, such as earth observation/remote sensing, science/R&D, 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.

Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/1254

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).

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 Full Report @ https://www.marketresearchfuture.com/reports/nano-micro-satellite-market-1254

Intended Audience

Government
Policymaker
Consultants
Suppliers
About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com