According to IMARC Group’s latest report, titled “Nanosatellite and Microsatellite Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global nanosatellite and microsatellite market reached a value of US$ 2.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2027, exhibiting a CAGR of 20.57% during 2022-2027.
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) represent the small-sized artificial satellites that assist in collecting real-time data in the form of data, voice, internet communication, and video chat. They generally circle the earth in a circular or elliptical orbit and are launched at low altitudes. Nanosatellites and microsatellites provide an optimum level of solutions in terms of remote sensing and land observations. In addition to this, these satellites consist of software, hardware, and data processing devices used for geographical mapping, navigation, scientific research, etc. The data obtained from these satellites are processed and utilized for improving water management and carrying out relief as well as defense operations.
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Numerous advancements in miniaturization technologies across several industries are primarily driving the nanosatellite and microsatellite market. Additionally, the widespread adoption of NaM in various sectors, including civil, commercial, defense, etc., to conduct low-cost space missions, such as signal monitoring, geolocation, communications, etc., is further catalyzing the market growth. Besides this, the growing integration of these satellites with robotics, artificial intelligence (AI), and the Internet of Things (IoT) that aid in improving spacecraft reliability, providing efficient computing capabilities, enhancing coordination within a mission, etc., is acting as another significant growth-inducing factor. Moreover, the introduction of ultra high frequency (UHF), very high frequency (VHF), and visible transmission technologies is also augmenting the global market. In line with this, the rising investments in the field of space science are anticipated to fuel the nanosatellite and microsatellite market over the forecasted period.
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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 (2016-2021)
- Market Outlook (2022- 2027)
- 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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