Nanosatellite and Microsatellite Market Growth, Forecast by Regions and Types to 2022

Global Nanosatellite and Microsatellite Market is segmented on the basis of types, manufacturer, applications and geography. Nanosatellite or a nanosat is an artificial satellite with mass ranging from 1kg to 10kg. Nanosatellites are miniaturized, low-cost satellites created for communication, space research and commercial purposes. Microsatellite or a microsat is also an artificial satellite with mass ranging from 10 Kg to 100 Kg. Microsatellites are again miniaturized& low-cost satellites created for a number of commercial and military purpose. Mainly scientific research, communication, navigation and mapping, power, reconnaissance, biological experiments & remote sensing are application areas for nanosatellite and microsatellite.

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The major driving factors for the global nanosatellite and microsatellite market include increased demand across industry verticals, increase in number of application areas, growth in investments, and constant cost reduction for nanosatellites and microsatellites. Multinational companies in the telecom sector are taking various initiatives to offer high speed internet services by launching constellations of nanosatellites and microsatellites. Applications such as Earth observation and remote sensing are likely to boost up in the upcoming years.

On the basis of solution, the global market for nanosatellite and microsatellite is segmented as hardware, software, data processing, and launch services. On the basis of application, the global market for nanosatellite and microsatellite is segmented as navigation & mapping, scientific research, communication, power, reconnaissance, Earth observation & remote sensing. Earth observation is projected to be the fastest growing segment owing to growing demand for hyper-spectral imaging system and advanced computational and communication systems.

On the basis of industry, the global market for nanosatellite and microsatellite is segmented as agency, defense, non-profit, educational, energy & infrastructure, and maritime & transportation. On the basis of band, the segmentation for global nanosatellite and microsatellite market include K-band, X-band and Ka-Band.

On the basis of mass, the segmentation for global market for nanosatellite & microsatellite is divided from 1kg-10kg (Nanosatellite) and 11kg-100kg (Microsatellite). Cost reduction and efficient performance of cubeSats, nanosatellite with 1kg-10 kg is proliferating deeply in education, defense & training sectors.

On the basis of geographic segmentation, the global nanosatellite and microsatellite market spans North America, Latin America, Europe, Asia-Pacific, Middle-East & Africa. North America dominates the global nanosatellite and microsatellite market owing to significance of educational experiments. Developments in space research in the country and the presence of established space research & agencies have added to the development of nanosatellite market in U.S. regions.

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The key vendors in the market include RUAG Space, Lockheed Martin, Clyde Space, Raytheon, Planet Labs, Sierra Nevada Corporation, Terra Bella (Formerly Skybox Imaging, Inc.), SpaceQuest Ltd.& Skybox Imaging.

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