How CubeSat Market to Reach $491.3 Mn, Globally, by 2027 at 15.1% CAGR: Allied Market Research| Key Player - GomSpace, AAC Clyde Space, Endurosat, Tyvak Nano-Satellite Systems, Inc., Surrey Satellite Technology Limited,

According to a recent report published by Allied Market Research, titled, “CubeSat Market by Size, Application, End User, and Subsystem: Opportunity Analysis and Industry Forecast, 2020–2027,” the global CubeSat market was valued at $210.1 million in 2019, and is projected to reach $491.3 million by 2027, registering a CAGR of 15.10%.

North America dominates the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global CubeSat market share in 2019, and is expected to grow at a significant rate during the forecast period, due to increase in demand of CubeSat for scientific researches and Earth exploration.

Download Report Sample (PDF with Insights, Charts, Tables, Figures) at: https://www.alliedmarketresearch.com/request-sample/9764

CubeSats are types of nanosatellites that are manufactured according to standard measurements, in units or U of 10 cm x 10 cm x 10 cm. Making small satellites as per the CubeSat standards result in the cutting of costs associated with the research and technical development stages. This helps in overcoming the barriers to enter and study space, which has resulted in a sharp increase in the popularity of CubeSats since its introduction. Moreover, depending on the specifications, a CubeSat can be manufactured and positioned in orbit, which accounts for a small part in total costs as compared with the costs of involved with the conventional satellite missions. Apart from the benefits associated with the lower weight and size factors, the main advantage of CubeSats lies in the short timeframe required to build one. While a conventional or large satellite requires between 5 and 15 years developing and placing in orbit, a CubeSat can take less than 8 months to detect the need and position it in the intended orbit.

Covid-19 Scenario
• Many countries have lowered their budgets of space programs as the focus shifted on the pandemic response and recovery measures.
• The lockdown across the nations enforced manufacturing facilities of the CubeSat to close down or postpone the opening of the facilities.
• Despite the impact of Covid-19 on the sector, there has been increase in participation of private players to carry out operations moderately and several CubeSats were launched in 2020.

Get detailed COVID-19 impact analysis on the CubeSat Market : https://www.alliedmarketresearch.com/request-for-customization/9764?reqfor=covid

By size, the market is categorized into 0.25U to 1U, 1 to 3U, 3U to 6U, 6U to 12U, and 12U and above. The 1 to 3U accounted for the highest revenue in 2019, owing to 3U CubeSats are becoming the first choice for space missions for several manufacturers on account of the need for more volume and aperture. A 3U CubeSat has more than thrice the communications, pointing capacity, and power of a less than 1U CubeSat. For the reason that of the measure of standard mechanisms, connectors, and others, a 3U has more useful volume and more room is available to deploy panels and antennas with superior packing factors. However, the 0.25U to 1U segment is anticipated to witness the highest CAGR of 15.8% during the forecast period, owing to increasing adoption of small CubeSat by educational and research institutes.

Moreover, several players are launching swarms of small 0.25U satellites for full-scale deployment of IoT-based services across the globe. For instance, Swarm Technologies, a California-based satellite company, is making progress on deploying its strong 150 CubeSat IoT constellation. Remote energy installations, remote sensors, and monitoring shipping containers, among others, are some examples of IoT devices Swarm's constellation.

Interested to Procure The Data? Inquire here at: https://www.alliedmarketresearch.com/purchase-enquiry/2104

On the basis of application, the CubeSat market is segregated into Earth observation & traffic monitoring, science & technology, and education, space observation, communication, and others. The Earth observation & traffic monitoring segment accounted for over 50% market share in 2019, owing to their low cost, and short development cycle are being widely used for Earth observation applications.

Factors such as increasing demand for CubeSats from several commercial applications and new application areas for CubeSats are expected to drive the growth of the global CubeSat market. However, limitations of CubeSats regarding payload accommodation and stringent government regulations is expected to restrain the growth of the market during the forecast period. Conversely, CubeSat capabilities and increase in demand for space data are expected to offer potential opportunities for the global CubeSat market during the forecast period.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at: https://www.alliedmarketresearch.com/connect-to-analyst/2104

 
The global rail logistics market is segmented based on mode of transport, which includes tank wagon, freight car, and intermodal. The intermodals segment is anticipated to observe robust growth in near future. Geographically, it is categorized across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2016 due to availability of the well-developed infrastructure and advanced systems in the region.

Key Findings Of The Study
• By size, the 0.25U to 1U segment is expected to register a significant growth during the forecast period.
• By end user, the commercial segment is anticipated to exhibit significant growth in the near future.
• By application, the science technology and education segment is projected to lead the global CubeSat market owing to higher CAGR as compared to other applications.
• By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global CubeSat market include Planet Labs Inc., GomSpace, AAC Clyde Space, Endurosat, Tyvak Nano-Satellite Systems, Inc., Surrey Satellite Technology Limited, Innovative Solutions In Space B.V., Space Inventor, Pumpkin Space Systems, and CU Aerospace, L.L.C.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

This release was published on openPR.