With the emergence and long-term Impact of COVID-19, Global Nano and Microsatellite Market to reach USD 5.5 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Nano and Microsatellite Market points towards a potential rise to USD 5.5 billion by 2030. Nano and microsatellites represent compact artificial satellites launched into space for diverse objectives, such as data collection about earth and outer space. These satellites are classified based on their total mass, as outlined by the National Aeronautics and Space Administration (NASA). Nanosatellites are defined as artificial satellites weighing between 1 kg and 10 kg, whereas microsatellites fall within the weight range of 11 kg to 100 kg.
Furthermore, nanosatellites adhering to standard dimensions denoted as “U” or Units, measuring 10 × 10 × 10, are commonly called CubeSats. The market growth is driven by key factors such as increasing usage of nanosatellites for telecommunication services and lower Manufacturing Cost and Time Compared to Large Satellites.
Geographically, the global Nano and Microsatellite market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America emerged as the leading market for nanosatellites and microsatellites, primarily propelled by escalating investments in space-related initiatives. Conversely, the Asia Pacific region is poised to become the fastest-growing market, with countries such as Japan and India spearheading the aggressive deployment of small satellites dedicated to communication and navigation functions. Japan strategically positioned itself to address the rising demand for compact satellites and spacecraft, aligning with the imperative for miniaturization in the industry.
The global Nano and Microsatellite market is highly competitive owing to the presence of several key players such as Vector Launch, Inc Dauria Aerospace Surrey Satellite Technology Limited (SSTL) GomSpace Innovative Solutions in Space (ISIS) B.V. Sierra Nevada Corporation (SNC) Spire Global, Inc. SpaceQuest Ltd. The Boeing Company Tyvak Nano-Satellite Systems, Inc and others.
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Key findings of the study suggest:
- Global Nano and Microsatellite Market is anticipated to grow with a healthy growth rate of more than 10.85% over the forecast period 2023-2030.
- In the Application segment, Earth Observation emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to escalating investments in space-related initiatives in the region.
- Asia Pacific is expected to grow at higher rate owing to deployment of small satellites dedicated to communication and navigation functions in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Application:
- Communication
- Earth Observation
- Navigation
- Space Observation
- Others
By Orbit Class:
- GEO
- LEO
- MEO
By End-user:
- Commercial
- Military & Government
- Others
By Propulsion Tech:
- Electric
- Gas based
- Liquid Fuel
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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