According to the latest report by IMARC Group, titled, “Nanosatellite and Microsatellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, Offers a comprehensive analysis of the industry, which comprises insights on the nanosatellite and microsatellite market trends. 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.
Nanosatellite and microsatellite (NAM) are miniature artificial satellites that are used in space for various applications. They consist of an onboard computer, remote control unit, telemetry unit, and asynchronous communication channel connections. They have a short lifespan and integrate highly reliable electronic components. In addition, they retain similar capabilities and are more convenient to build, and cost-effective as compared to traditional satellites. They are widely employed in communication, earth observation and remote sensing, biological experiments, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance. Nanosatellite and microsatellite are used in space observation programs, interplanetary missions, system testing in orbit, and biomedical research. They assist in the development of space programs and are widely employed in rapid responses to disasters, environmental management, asset tracking, and gathering timely information related to telemedicine. They provide a platform for training and research to countries wherein heavy investment in the space industry facilitates health and welfare needs. As a result, they find extensive applications in government, civil, energy and infrastructure, commercial, and defense sectors worldwide.
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Nanosatellite and Microsatellite Market Trends and Drivers:
Nanosatellite and Microsatellite Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- 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.
The report has segmented the market based on satellite mass, component, application and end-use sector.
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 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
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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