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Global Nano and Microsatellite Market to reach USD 5.5 billion by the end of 2030

Global Nano and Microsatellite Market Size study & Forecast, 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), and Regional Analysis, 2023-2030

Product Code: SSAD-94963464
Publish Date: 20-01-2024
Page: 200

Global Nano and Microsatellite Market is valued at approximately USD 2.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.85% during the forecast period 2023-2030. Microsatellites and nanosatellites 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.

Growing trend of utilizing nanosatellites, which are small and lightweight satellites, to provide telecommunication services. Nanosatellites, also known as CubeSats, are miniature satellites that have gained popularity due to their relatively low cost and quick development cycles compared to traditional larger satellites. As per Statista, the growth of nanosatellite in telecommunication was valued at USD 14.1 billion in 2016 and is expected to reach USD 95.3 billion in 2021. Furthermore, between 2017 and 2022, among the 57 satellites sent into Medium Earth Orbit (MEO), eight were specifically crafted for communication objectives. Similarly, within the 147 satellites positioned in the Geostationary Earth Orbit (GEO), a significant majority of 105 were designated for communication purposes. Across the globe, various organizations owned and launched approximately 4,131 Low Earth Orbit (LEO) satellites over this period, with almost 2,976 of them expressly designed to facilitate communication. Furthermore, The UK government has outlined a substantial USD 7.5 billion plan to enhance the satellite telecommunication capabilities of its armed forces. In July 2020, the UK Ministry of Defence (MoD) granted a contract valued at USD 630 million to Airbus Defence and Space for the construction of a new telecommunications satellite, aiming to fortify military capabilities temporarily. Furthermore, in November 2022, the European Space Agency (ESA) proposed a 25% increase in space funding over the next three years. This initiative is geared towards sustaining Europe’s leadership in Earth observation, expanding navigation services, and maintaining collaboration with the United States in exploration. ESA has sought the support of its 22 member nations to endorse a budget of approximately USD 20.40 billion for the period spanning 2023-2025. However, limitations of small satellites regarding payload accommodation and stringent government regulations stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Nano and Microsatellite Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022 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.

Major market player included in this report are:
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

Recent Developments in the Market:
Ø In March 2021, Rocket Lab USA, a publicly traded American aerospace manufacturer and provider of small satellite launch services, successfully deployed seven small satellites into Earth’s orbit, including its spacecraft designed for future missions. Among the payloads were an Earth-observation microsatellite and two nanosatellites dedicated to the “Internet of Things.
Ø In March 2022, the China Aerospace Science and Technology Corporation achieved a successful launch of the Tiankun-2 satellites into a low-Earth polar orbit, marking the inaugural flight of the Long March 6A.

Global Nano and Microsatellite Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Application, Orbit Class, End-user, Propulsion Tech, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Communication
Earth Observation
Navigation
Space Observation
Others

By Orbit Class:
GEO
LEO
MEO

By End-user:
Commercial
Military & Government
Other

By Propulsion Tech:
Electric
Gas based
Liquid Fuel

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Nano and Microsatellite Market, by Region, 2020-2030 (USD Billion)
1.2.2. Nano and Microsatellite Market, by Application, 2020-2030 (USD Billion)
1.2.3. Nano and Microsatellite Market, by Orbit Class, 2020-2030 (USD Billion)
1.2.4. Nano and Microsatellite Market, by End-user, 2020-2030 (USD Billion)
1.2.5. Nano and Microsatellite Market, by Propulsion Tech, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Nano and Microsatellite Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Nano and Microsatellite Market Dynamics
3.1. Nano and Microsatellite Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing usage of nano satellites for telecommunication services
3.1.1.2. Lower Manufacturing Cost
3.1.2. Market Challenges
3.1.2.1. Limitations of small satellites regarding payload accommodation
3.1.2.2. Stringent government regulations
3.1.3. Market Opportunities
3.1.3.1. Increase in demand for nanosatellites and microsatellites from the commercial sector
3.1.3.2. Increase in demand for satellite data
Chapter 4. Global Nano and Microsatellite Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Nano and Microsatellite Market, by Application
5.1. Market Snapshot
5.2. Global Nano and Microsatellite Market by Application, Performance – Potential Analysis
5.3. Global Nano and Microsatellite Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
5.4. Nano and Microsatellite Market, Sub Segment Analysis
5.4.1. Communication
5.4.2. Earth Observation
5.4.3. Navigation
5.4.4. Space Observation
5.4.5. Others
Chapter 6. Global Nano and Microsatellite Market, by Orbit Class
6.1. Market Snapshot
6.2. Global Nano and Microsatellite Market by Orbit Class, Performance – Potential Analysis
6.3. Global Nano and Microsatellite Market Estimates & Forecasts by Orbit Class 2020-2030 (USD Billion)
6.4. Nano and Microsatellite Market, Sub Segment Analysis
6.4.1. GEO
6.4.2. LEO
6.4.3. MEO
Chapter 7. Global Nano and Microsatellite Market, by End-user
7.1. Market Snapshot
7.2. Global Nano and Microsatellite Market by End-user, Performance – Potential Analysis
7.3. Global Nano and Microsatellite Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
7.4. Nano and Microsatellite Market, Sub Segment Analysis
7.4.1. Commercial
7.4.2. Military & Government
7.4.3. Other
Chapter 8. Global Nano and Microsatellite Market, by Propulsion Tech
8.1. Market Snapshot
8.2. Global Nano and Microsatellite Market by Propulsion Tech, Performance – Potential Analysis
8.3. Global Nano and Microsatellite Market Estimates & Forecasts by Propulsion Tech 2020-2030 (USD Billion)
8.4. Nano and Microsatellite Market, Sub Segment Analysis
8.4.1. Electric
8.4.2. Gas based
8.4.3. Liquid Fuel
Chapter 9. Global Nano and Microsatellite Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Nano and Microsatellite Market, Regional Market Snapshot
9.4. North America Nano and Microsatellite Market
9.4.1. U.S. Nano and Microsatellite Market
9.4.1.1. Application breakdown estimates & forecasts, 2020-2030
9.4.1.2. Orbit Class breakdown estimates & forecasts, 2020-2030
9.4.1.3. End-user breakdown estimates & forecasts, 2020-2030
9.4.1.4. Propulsion Tech breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Nano and Microsatellite Market
9.5. Europe Nano and Microsatellite Market Snapshot
9.5.1. U.K. Nano and Microsatellite Market
9.5.2. Germany Nano and Microsatellite Market
9.5.3. France Nano and Microsatellite Market
9.5.4. Spain Nano and Microsatellite Market
9.5.5. Italy Nano and Microsatellite Market
9.5.6. Rest of Europe Nano and Microsatellite Market
9.6. Asia-Pacific Nano and Microsatellite Market Snapshot
9.6.1. China Nano and Microsatellite Market
9.6.2. India Nano and Microsatellite Market
9.6.3. Japan Nano and Microsatellite Market
9.6.4. Australia Nano and Microsatellite Market
9.6.5. South Korea Nano and Microsatellite Market
9.6.6. Rest of Asia Pacific Nano and Microsatellite Market
9.7. Latin America Nano and Microsatellite Market Snapshot
9.7.1. Brazil Nano and Microsatellite Market
9.7.2. Mexico Nano and Microsatellite Market
9.8. Middle East & Africa Nano and Microsatellite Market
9.8.1. Saudi Arabia Nano and Microsatellite Market
9.8.2. South Africa Nano and Microsatellite Market
9.8.3. Rest of Middle East & Africa Nano and Microsatellite Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Vector Launch, Inc
10.3.1.1. Key Information
10.3.1.2. Overview
10.3.1.3. Financial (Subject to Data Availability)
10.3.1.4. Product Summary
10.3.1.5. Recent Developments
10.3.2. Dauria Aerospace
10.3.3. Surrey Satellite Technology Limited (SSTL)
10.3.4. GomSpace
10.3.5. Innovative solutions in space b.v
10.3.6. Sierra Nevada Corporation (SNC)
10.3.7. Spire Global, Inc.
10.3.8. SpaceQuest Ltd.
10.3.9. The Boeing Company
10.3.10. Tyvak Nano-Satellite Systems, Inc
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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