Nanosatellite and Microsatellite Market Estimates & Strategy Framework To 2022 - 2030

The global nanosatellite and microsatellite market size is expected to reach USD 13.89 billion by 2030, growing at a CAGR of 23.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The upsurge in Earth observation missions and the development of Small Satellite Launch Vehicles (SSLVs) are expected to propel the growth of the market. For instance, in February 2022, EOS-04, an Earth observation satellite, was launched into a sun-synchronous polar orbit by India's Polar Satellite Launch Vehicle PSLV-C52. The satellite weighs 1,710 kg and provides high-quality photographs.

The emerging role of small satellites in the telecom sector has enabled telecom providers to accelerate 5G deployment globally, in addition to creating market opportunities for the satellite communication (Satcom) industry stakeholders. Developing small satellites for 5G deployment can particularly benefit in the form of wide-area coverage, cost-effectiveness, and reliability. Latest technologies such as new solar panel cell technology and star tracker technology are allowing providers of small satellites to strengthen their position in the broader satellite industry.

Nanosatellite and Microsatellite Market Segmentation

Grand View Research has segmented the global nanosatellite and microsatellite market based on mass, application, end-use, and region:

Based on the Mass Insights, the market is segmented into Nanosatellitesand Microsatellites.

  • The nanosatellites segment accounted for a revenue share of more than 79% in 2021 owing to the growing deployment of a nanosatellite for Earth observation missions.
  • The data from Earth observation satellites have proven to be significantly beneficial for applications such as improving water management, tracking refugee populations, carrying out relief operations, and national defense.

Based on the Application Insights, the market is segmented into Communication & Navigation, Earth Observation/Remote Sensing, Scientific Research, Technology& Academic Training.

  • The Earth observation/remote sensing segment accounted for a revenue share of more than 51% in 2021 as several governments continued to invest in Earth observation and meteorology projects.
  • The adoption of smallsats in communication and navigation is increasing owing to the increased popularity of advanced technologies such as Over-The-Top (OTT) services and Internet Protocol Television (IPTV).

Based on the End-useInsights, the market is segmented into Government, Defense & Security, Commercial and Civil.

  • The commercial segment dominated the market for nanosatellite and microsatellite with a revenue share of more than 44% in 2021 owing to an increase in communication, broadcasting, and navigation activities.
  • According to the Satellite Industry Association (SIA), the demand for broadband satellites is expected to grow at a CAGR of 29% by 2024.
  • The defense & security segment accounted for a revenue share of over 27% in 2021 as small satellites help in enhancing operational support to military forces.

Nanosatellite and MicrosatelliteRegional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

Key Companies Profile& Market Share Insights

Nanosatellite and microsatellite have witnessed substantial growth in terms of spacecraft development, building, and launches over the past decade. The CubeSat concept enabled companies to find a different role in satellite design compared to their traditional roles.

Some prominent players in the Nanosatellite and Microsatellite market include

  • Dauria Aerospace
  • GomSpace
  • Innovative Solutions in Space (ISIS)
  • Sierra Nevada Corporation (SNC)
  • Spire Global, Inc.
  • SpaceQuest Ltd.
  • Surrey Satellite Technology Limited (SSTL)
  • The Boeing Company
  • Tyvak Inc.
  • Vector Launch, Inc

Order a free sample PDF of the Nanosatellite and Microsatellite Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

Medical Device Validation & Verification Market Outlook Till, 2020-2027

The global medical device validation and verification market size is expected to reach USD 1.1 billion by 2027, expanding at a CAGR of 11.1% over the forecast period, according to a new report by Grand View Research, Inc. Download Free Sample -  https://www.radiantinsights.com/research/medical-device-validation-&-verification-market/request-sample Increase in demand for advanced and quality medical products and rising complexity with respect to product designing and engineering are anticipated to boost market growth. Rapid innovations in healthcare have increased the need for companies to incorporate new technologies and software applications in their products to meet the demand for validation and verification. Increase in product complexity, availability of newer types of material, and high risk of product failures are some of the key factors increasing the need for validation and verification services. North America dominated the global medical device validation and verificat...
Read more

Athleisure Market Product Estimates & Strategy Framework To 2022 - 2030.

The global  athleisure market  size is expected to reach USD 662.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2022 to 2030. Athleisure is a popular category because it taps into several broad trends, including a global shift toward consumers wearing more casual clothing, consumers seeking comfortable clothing, and health-conscious consumers engaging in more athletic activities and requiring performance clothing for these activities. True Fit's Fashion Genome (via Direct Commerce), which analyses data from 17,000 brands and 180 million True Fit users, confirms that athleisure orders have increased by 84 percent since the pandemic began; sales of women's athleisure bottoms in the United Kingdom alone were five times higher in December 2020 than in April 2020. In addition, order volumes for men's athleisure wear sales increased by 20% from the previous year. Target's activewear line, All ...
Read more

Light Curing Coating Global Market Size Comparison, Analysis, 2020

UV light-curing equipment is ideal for industrial bonding, coating, encapsulating, and potting, as well as sealing applications. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Light Curing Coating Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China). Download Free Sample Copy  -  https://www.radiantinsights.com/research/global-light-curing-coating-market-research-report-2020-2024/request-sample In this report, the global Light Curing Coating market is valued at USD XX million in 2020 and is projected to reach USD XX million by the end of 2024, growing at a CAGR of XX% during the period 2020 to 2024. The report first...
Read more