The latest report by IMARC Group, titled “Nanosatellite and Microsatellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global nanosatellite and microsatellite market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2028, exhibiting a growth rate (CAGR) of 19.7% during 2023-2028.
Nanosatellites and microsatellites (NaM) are small artificial satellites that typically weigh between 1 to 10 kilograms. They circle in polar orbits around the Earth, usually at low altitudes, and move at high velocities. They also provide effective solutions for remote sensing, communication, and land observation. In addition, they are equipped with various hardware, software, and data processing devices for geographical mapping, scientific research, and navigation. Moreover, they also help collect real-time data in the form of videos, voice, internet communications, video chat, and data. As a result, nanosatellites and microsatellites are employed across the civil, commercial, energy, and infrastructure sectors.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/nanosatellite-microsatellite-market/requestsample
Nanosatellite and Microsatellite Market Trends and Drivers:
The market is primarily driven by the increasing demand for nanosatellites and microsatellites across various industries, such as defense, security, and government. In addition, the rising product use due to their ability to provide high visibility against tactical enemy operations, rapid access to near real-time information, and imagery is contributing to the market growth. Furthermore, the data collected by these satellites are processed and utilized for improving water management or conducting relief and defense operations. Moreover, the integration of NaMs with advanced technologies such as robotics, the Internet of Things (IoT), and artificial intelligence (AI) coupled with very high frequency (VHF), ultra-high frequency (UHF), and visible transmission technologies that help increase signal frequencies and data transfer speeds between the ground stations and the satellite represents another major growth-inducing factor. Besides this, the escalating product demand in research organizations and telecommunication sectors, the deployment of solar panels and star tracker technologies, and extensive research and development (R&D) activities in space science are also creating a positive market outlook.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Satellite Mass:
- Nanosatellite (1kg to 10kg)
- Microsatellite (10kg to 100kg)
Breakup by Component:
- Hardware
- Software and Data Processing
- Space Services
- Launch Services
Breakup by Application:
- Communication
- Earth Observation and Remote Sensing
- Scientific Research
- Biological Experiments
- Technology Demonstration and Verification
- Academic Training
- Mapping and Navigation
- Reconnaissance
- Others
Breakup by End-Use Sector:
- Government
- Civil
- Commercial
- Defense
- Energy and Infrastructure
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- AAC Clyde Space
- Axelspace Corporation
- Berlin Space Technologies
- GomSpace
- ISISPACE Group
- L3harris Technologies Inc.
- Lockheed Martin Corporation
- Planet Labs Tb Inc.
- Spacequest Ltd.
- Spire Inc.
- Surrey Satellite Technology
- Tyvak Nano-Satellite Systems Inc.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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