Press release
Nano Satellite Market Competitive Analysis, Segmentation and Opportunity Assessment; 2021 - 2030
Nano Satellite Market | Emergen Research
Nano satellites are miniaturized artificial satellites that weigh less than 10kgs. Nano satellites are more convenient and take less time to build than convectional satellites owing to smaller size. Nano satellites are launched at lower altitudes and cost of launching is also relatively lower. These devices travel at high speed and circle the Earth in a polar orbit. Nano satellites are used for purposes such as remote sensing, land observation, and communication, among others.
Lower manufacturing cost of nano satellites compared to that of traditional satellites enable large quantity production more easily. Moreover, nano satellites are always launched in groups into Earth's orbit, which also reduce launching cost. Furthermore, universities, space agencies, and private companies across the globe are taking various initiatives to launch new nano satellite missions, which is driving market revenue growth.
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Global nano satellite market growth is hampered by factors such as limited access to space and stringent regulations by government agencies and regulatory bodies in countries across the globe. In addition, delay in propagation and shorter operational lifetime are other factors expected to hamper market growth to some extent during the forecast period.
Major companies included in the global market report are ACC Clyde Space, GomSpace A/S, ISISPACE Group, Israel Aerospace Industries (IAI) Ltd., Lockheed Martin Corporation, Alen pace, Axelspace Corporation, NanoAvionics, Planet Labs PBC, SRM Institute of Science and Technology, Sierra Nevada Corporation, EnduroSat, Sky and Space Global Ltd., and The Boeing Company.
Some Key Highlights from the Report
In December 2021, Redwire Corporation announced a three-year supplier agreement with Terren Orbital, which is a global leader and pioneer in the development, innovation and operation of small and nano satellites and Earth observation solutions. With this agreement, Redwire Corporation will deliver a wide range of advanced components and solutions to Terran Orbital, which will be used in small and nano satellite manufacturing and service offerings.
Earth observation and remote sensing segment accounted for significantly large revenue share in 2020 owing to ability of these satellites to gather information over large areas, which will help to characterize natural features or physical objects on the ground.
Government segment accounted for moderate revenue share in 2020 and is expected to register a rapid growth rate during the forecast period. Governments of various countries across the globe use real-time data collected from nano satellites for various operations such as scientific research, biological experiments, and others.
Market in Europe accounted for a significantly moderate revenue share in 2020. Rapid adoption of miniaturized artificial satellites and advancement in technologies such as Artificial Intelligence (AI), satellite IoT, in-orbit services, advanced ground systems, and others, and expanding aeronautics and satellite industries are expected to drive market growth going ahead.
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Emergen Research has segmented the global nano satellite market on the basis of mass, application, end-use, and region:
Mass Type Outlook (Revenue, USD Billion; 2018-2030)
1kg-3kg Nano Satellite
4kg-6kg Nano Satellite
7kg-10kg Nano Satellite
Application Outlook (Revenue, USD Billion; 2018-2030)
Communication
Earth Observation and Remote Sensing
Scientific Research
Biological Experiments
Technology Demonstration and Verification
Academic Training
Mapping and Navigation
Space Exploration
End-use Outlook (Revenue, USD Billion; 2018-2030)
Government
Civil
Commercial
Military
Academic
Others
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Regional Outlook (Revenue, USD Billion; 2018-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Israel
Rest Of MEA
The report addresses the following key points:
The report estimates the expected market size from 2021-2030
The report provides a forecast of market drivers, restraints, and future opportunities for the Nano Satellite market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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