The Nanosatellite and microsatellite market USD is expected to reach 10.52 billion by 2030 and will register a CAGR of 18.3% over the forecast period, according to the latest report and data. The steady increase in revenue in the nanosatellite and microsatellite markets can be attributed to a variety of factors, including the growing demand for earth observation-related applications and the use of advanced technology by governments to better connect remote and inaccessible areas. However, limited access to space has affected market revenue growth.
A microsatellite is an artificial satellite with a wet mass of 10 kg to 100 kg. Compared to larger satellites, microsatellites can be built at lower cost and with less lead time. Therefore, they are expected to play an important role in business and space use. These satellites, small in size, contain many electronic devices depending on demand and functional utility. At present the role of a satellite is largely in Earth observation, communication, location, space observation or deep space exploration and it is increasingly necessary to perform all these roles with the help of global microsatellites. Many space exploration agencies, mainly the United States, Europe and China, are working on research and development for specialized rocket designs to launch these satellites into space at low cost. Over the past decade, Norway has played a leading role in marine surveillance from space using low-budget microsatellite technology.
The LEO Satellite is a new generation satellite that orbits the Earth at low altitudes. These satellites are known to better connect remote and inaccessible areas. The demand for LEO-based services for low-cost broadband by individual customers in developing countries is driving the growth of the nanosatellite and microsatellite markets. LEO satellites are launched into a constellation that can collectively provide about 10 times more signal power than satellites in other synchronous orbits. The advantage of LEO satellites is that the proximity of the Earth’s satellites allows them to communicate with minimal delay.
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Some highlights of the report
- By type, the nanosatellite segment is responsible for the largest revenue share in 2020 and is expected to register a higher revenue CAGR during the forecast period. Nanosatellite missions are usually low-cost mission programs with sufficient efficiency that have attracted large companies from the commercial and civilian sectors, then government, energy, military and defense. The use of nano-satellites in the commercial sector will increase rapidly over the forecast period due to its economic value and technological advances in continuous innovation and minimization of electronics for improved capabilities for low-cost space missions.
- Through implementation, the Earth Monitoring and Remote Sensing segment is responsible for the largest share of revenue in 2020. Remote sensing is used to observe and analyze objects from a distance or even when the object is not visible or actually seen. Earth observation data is a powerful tool for observing natural and man-made processes such as biochemical cycles, land cover and terrain changes, climate variability and climate change. The growing number of cyclones, storms and typhoons affecting various countries is forcing governments to improve their weather forecasting technology and capabilities to improve safety and preparedness, leading to the introduction of Earth observation satellites and remote sensing.
- The North American nanosatellite and microsatellite market is responsible for the highest revenue share in 2020 due to the growing number of North American nanosatellite and microsatellite launches, driven by increasing digitalization in industries as well as the growing demand for one or more of the world’s observatories. Offers resolution images and videos.
- In December 2021, Planet Labs completed the acquisition of VanderSat, a leading provider of advanced Earth data and analysis. Planet Labs will use VanderSat’s technology and products to market next-generation solutions that make the best use of commercial and public satellite data to provide clear, effective insights to help industries, organizations and nonprofits around the world and governments.
- Companies profiled in the Global Market Report include Lockheed Martin Corporation, Surrey Satellite Technology Limited, Gumspace Group AB, Kepler Communications Inc., Planet Labs PBC, Astro Digital US Inc., LS Harris. Nevada. . Corporation and AAC Clyde Space.
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For the purposes of this report, nanosatellite and microsatellite markets are segmented based on report and data types, end usage, orbits, components, applications, and regions:
Type Outlook (Revenue, USD million; 2018-2030)
End-use Outlook (Revenue, USD million; 2018-2030)
- Power and infrastructure
- Shipping and transportation
Material Outlook (Revenue, USD million; 2018-2030))
- Its service
- Service on
Application Outlook (Revenue, USD million; 2018-2030)
- And remote sensing
- Scientific research
- Biological experiments
- Technology and verification
- Mapping and navigation
Regional Outlook (Revenue, USD million; 2018-2030)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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