Nanosatellite and Microsatellite Market to Reach US$ 6.1 Billion, Globally, by 2027 at 20.57% CAGR

IMARC Group has recently released a new research study titled "Nanosatellite and Microsatellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" Offers a comprehensive analysis of the industry, which comprises insights on the global nanosatellite and microsatellite market.

What are the growth prospects of the nanosatellite and microsatellite industry?

The global nanosatellite and microsatellite market reached a value of US$ 2.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2027, exhibiting a CAGR of 20.57% during 2022-2027.

What is a nanosatellite and microsatellite?

Nanosatellite and microsatellite (NAM) are miniature artificial satellites that are used in space for various applications. They consist of an onboard computer, remote control unit, telemetry unit, and asynchronous communication channel connections. They have a short lifespan and integrate highly reliable electronic components. In addition, they retain similar capabilities and are more convenient to build, and cost-effective as compared to traditional satellites. They are widely employed in communication, earth observation and remote sensing, biological experiments, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance. Nanosatellite and microsatellite are used in space observation programs, interplanetary missions, system testing in orbit, and biomedical research. They assist in the development of space programs and are widely employed in rapid responses to disasters, environmental management, asset tracking, and gathering timely information related to telemedicine. They provide a platform for training and research to countries wherein heavy investment in the space industry facilitates health and welfare needs. As a result, they find extensive applications in government, civil, energy and infrastructure, commercial, and defense sectors worldwide.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/nanosatellite-microsatellite-market/requestsample

What are the major market drivers in the nanosatellite and microsatellite market?

At present, advancements in microelectronics and a significant rise in satellite launches across the globe represent one of the primary factors positively influencing the market. Moreover, increasing investments in space technology startups by private companies are catalyzing the demand for nanosatellites and microsatellites. Apart from this, the expansion of the communication industry, along with the precise adoption of the internet of things (IoT), is facilitating the market growth. Besides this, increasing applications of NAMs in communications, scientific research, earth observation, remote sensing, climate, survey, and map-reading are bolstering the market growth. Apart from this, they are increasingly being utilized in civil, commercial, and defense sectors to conduct low-cost space missions, including geolocation, communication, and signal monitoring, which is creating a positive market outlook. Furthermore, the integration of satellites with advanced technologies, such as artificial intelligence (AI), advanced payload system, and in-orbit services, is bolstering the market growth. In addition, the growing funding and investments in research and development (R&D) activities to improve the operations of satellite swarms and support better communication with earth are driving the market growth. Besides this, significant growth in the aeronautic and satellite industry and advancement in miniaturization technologies are strengthening the market growth. Other factors, such as the deployment of star trackers and solar panels on satellites, are expected to create a favorable market outlook in the coming years.

Nanosatellite and Microsatellite Market 2022-2027 Competitive Analysis and Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global nanosatellite and microsatellite market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on satellite mass, component, application and end-use sector.

Breakup by Satellite Mass:
Nanosatellite (1kg to 10kg)
Microsatellite (10kg to 100kg)

Breakup by Component:
Hardware
Software and Data Processing
Space Services
Launch Services

Breakup Application:
Communication
Earth Observation and Remote Sensing
Scientific Research
Biological Experiments
Technology Demonstration and Verification
Academic Training
Mapping and Navigation
Reconnaissance
Others

Breakup by End-Use Sector:
Government
Civil
Commercial
Defense
Energy and Infrastructure
Others

Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

List of Major Key Players:
The major players in the market are
AAC Clyde Space.
Axelspace Corporation
Berlin Space Technologies
GomSpace
ISISPACE Group
L3harris Technologies Inc.
Lockheed Martin Corporation.
Planet Labs Tb Inc.
Spacequest Ltd.
Spire Inc.
Surrey Satellite Technology
Tyvak Nano-Satellite Systems, Inc.

Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Ask Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/nanosatellite-microsatellite-market

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Top Trending Reports (Book Now with 10% Discount + COVID-19 Scenario):

India Digital Camera Market- https://www.einpresswire.com/article/586458305/india-digital-camera-market-report-2022-industry-trends-share-size-demand-and-future-scope

India Dog Food Market- https://www.einpresswire.com/article/586688907/india-dog-food-market-report-2022-industry-trends-share-size-demand-and-future-scope

UK Logistics Market- https://www.einpresswire.com/article/592991706/uk-logistics-market-report-2022-industry-outlook-share-size-growth-and-forecast-to-2027

India Electric Vehicle Charging Station Market- https://www.einpresswire.com/article/593973622/india-electric-vehicle-charging-station-market-2022-industry-size-price-trends-top-key-players-and-future-scope-2027

India Luxury Car Market- https://www.einnews.com/pr_news/598267681/india-luxury-car-market-share-and-statistics-industry-analysis-report-2022-2027

China Luxury Car Market- https://www.einnews.com/pr_news/598274903/china-luxury-car-market-share-and-statistics-industry-analysis-2022-2027

India E-commerce Market- https://www.einnews.com/amp/pr_news/598270035/india-e-commerce-market-share-size-growth-industry-analysis-2022-2027

Contact us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Website: https://www.imarcgroup.com
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.