Innovation In Miniaturization To Augment The Global Nanosatellite Market

0
0

Competitive Analysis

The major players operating the global market are Planet Labs (U.S.), GomSpace A/S (Denmark), Boeing Space Systems (U.S.), GeoOptics (Colorado), Lockheed Martin Corporation (U.S.), Ruag Group (Switzerland), Innovative Solution in Space (ISIS) Group (Netherland), Surrey Satellite Technology (U.K.), Aerospace Corporation (U.S.), and Sierra Nevada Corporation (U.S.)

Market Scenario

The global Nanosatellite Marketis presumed to expand at 23 % CAGR during the forecast period (2018-2023) owing to the innovation in miniaturization of devices, asserts Market Research Future (MRFR). Nano and microsatellites are miniature forms of satellites which range between 1-10 kgs and 10-100 kgs respectively. They are the fastest growing segments of the satellite industry and are easy to build. With lower manufacturing and operating costs, they are immensely popular in military and civilian application. Nano and microsatellites assist in achieving critical missions with the help of emerging technologies.

Drivers and Constraints Impacting the Market

Miniature satellites are extensively used in military and defense applications. With the growth of UAVs and other modern equipment, the military requires more bandwidth, data, and reliable communication infrastructure which can be fulfilled with nano and microsatellite constellations. This has triggered the demand for nano and microsatellites across the globe. Moreover, demand for such satellites in commercial applications like on the internet and GPS services has increased, thus augmenting the market growth during the assessment period. Also, the building and operating cost of such satellites are less, which is further advantageous for the market growth. The widespread application of nano and microsatellites in scientific, commercial, military and defense are fueling the market growth to a great extent.

On the flip side, lack of deorbiting system due to weight and size constraint is anticipated to retard the market growth in the coming years. Moreover, with thousands of satellites in orbit, the market is anticipated to face challenges.

Global Nano and Micro Satellite Market: Segmental Analysis

The global Nanosatellite Markethave been segmented on the basis of purpose, end-user, and region.

By mode of purpose, the global Nanosatellite Markethas been segmented into science/R&D, earth observation or remote sensing, military reconnaissance, and communication. Among these, the earth observation/remote sensing segment is presumed to dominate the Nanosatellite Marketowing to the increased government investment in earth observation and metrology and heavy investment of space-related organizations in earth observation.

By mode of end-users, the global Nanosatellite Markethas been segmented into civil or government, commercial, and military. Among these, the commercial segment is expanding at a rapid pace owing to the extensive use of nano and microsatellite in mining, communication, and agriculture industry. Moreover, burgeoning focus on geological research including satellite imaging is presumed to propel the market in the coming years.

Regional Insights

Geographically, the Nanosatellite Marketspan across regions namely, Europe, North America, Asia Pacific, and the Middle East and Africa.

Among all the regions, North America is likely to dominate the global market owing to the growing demand for nano and microsatellites by end-users from several sectors such as telecommunication, research organization, and military and defense.

The Asia Pacific region is estimated to grow at a significant rate owing to the high deployment of such satellites in the commercial sectors. On the other hand, the European region is registering a slow growth rate owing to the complex regulatory framework imposed by the government. Also, delayed satellite launch is impacting the market negatively in this region.

Industry News

The Technical University of Denmark, Logistics Organization, and the Danish Defense Acquisition and Logistics Organization under the Danish Ministry of Defence and the company Gomspace has launched a Danish nanosatellite into space. The satellite has been launched to test its ability to monitor aircraft and ships in the Arctic. The satellite Ulloriaq was launched on February successfully and will fly over the Arctic times a day above the Earth.

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

 

 

Showing 0 results
Your Answer

Please first to submit.

Get involved

Register

As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us

Jobs

Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs

Advertise

Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.