Global Nanosatelliteand Microsatellite Market is anticipated to reach USD 4.97 billion by 2025. Nanosatellites and microsatellites (NaM) are mostly used for observing the earth, communication, and to serve space research purposes. In addition, Nanosatellites and Microsatellites find their applications in Defense and Military verticals for commercial purposes. Nanosatellites and microsatellites are mostly used for scientific objectives, and research requirements on a large scale. They are low-cost satellites.
The
factors that propel the growth of the Nanosatellite and Microsatellite industry
include high demand for miniature satellites to study the earth, increased
investments in nanosatellite and microsatellite technologies, and low
manufacturing cost of miniature satellites. The market is estimated to grow at
a significant CAGR in the forecast period as the scope, product types, and its
applications are growing across the globe.
The
market may be explored by component, mass, vertical, application, and
geography. The key components that could be explored in the Nanosatellite and
Microsatellite market include Service, Launch Service, Hardware, and Software
and Data Processing. The “Software and Data Processing” segment led the market
in 2016 and is anticipated to maintain its dominance by 2025 as data and
software processing is important to extract illegal information from raw data
found from miniature satellites.
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The
Nanosatellite and Microsatellite industry could be explored based on mass as 11
Kg-100 Kg (Microsatellite), and 1 Kg-10 Kg (Nanosatellite). The key
Applications that could be explored in the market include Earth Observation and
Remote Sensing, Communication, Scientific Research, Academic Training,
Biological Experiments, Technology Demonstration and Verification,
Reconnaissance, and Mapping and Navigation. The “Earth Observation and Remote
Sensing” segment led the Nanosatellite and Microsatellite Market in 2016 and is
anticipated to maintain its dominance by 2025.
The
key verticals that could be explored in the Nanosatellite and Microsatellite
industry include Commercial, Government, Energy and Infrastructure, Civil,
Defense, and Maritime and Transportation. The “Commercial” segment led the market
in 2016 and is anticipated to maintain its dominance by 2025 due to increased
demand for data in agriculture, mining, finance.
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North
America accounted for the major share of the Nanosatellite and Microsatellite
Market Size in 2016 and will continue to lead in the forecast period. The
factors that could be attributed to the growth include increase in the demand
for these satellites from different end-use segments such as research
organizations, telecommunications, and military & defense. Further, the
rising demand from the military segment is anticipated to influence industry
development in the forecast period.
Some
of the key players that fuel the growth of the Nanosatellite and Microsatellite
industry comprise Raytheon Company, Planets Labs Inc., Space Quest Ltd., Skybox
Imaging, Inc., Sierra Nevada Corporation, Innovative Solutions in Space, Clyde
Space Ltd., GomSpace, RUAG Group, and Lockheed Martin Corporation. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
Market
Segment:
Nanosatellite
and Microsatellite Mass Outlook (Revenue, USD Million; 2014 - 2025)
• Microsatellite
• Nanosatellite
Nanosatellite
and Microsatellite Application Outlook (Revenue, USD Million; 2014 - 2025)
• Communication and navigation
• Earth observation/remote sensing
• Scientific research
• Technology and academic training
Nanosatellite
and Microsatellite End-Use Outlook (Revenue, USD Million; 2014 - 2025)
• Government
• Defense and Security
• Commercial
• Civil
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