Nano and Microsatellite Market Will Generate Record Revenue by 2029

The global nano and microsatellite market is anticipated to grow at a CAGR of 23.3 % during the forecast period (2023-2030). Small satellites, additionally known as nano and microsatellites, offer cost-effective solutions to various industries. These satellites can be developed quickly and deployed rapidly, providing global coverage and increased accessibility to remote areas. Applications of small satellites include agriculture, urban planning, disaster management, communication and connectivity, space exploration, climate studies, technology testing and demonstration, and commercial and defense applications. Furthermore, the market's growth is attributed to growing demand for data and connectivity across the globe. The growing need for data, connectivity, Earth observation, and IoT services drives the need for fragile satellite constellations to provide globally accessible coverage and data services. For instance, in July 2023,Space Flight Laboratory (SFL) launched and orbital deployment of the Telesat LEO 3 demonstration microsatellite at 1:27 UTC, furthermore LEO 3 is the 13th successful deployment of a LEO satellite, launched from New Zealand by the Rocket Lab Electron launch vehicle. SFL developed a microspace mission.

Furthermore, OQ Technology's "Tiger-3" payload is designed to meet the increasing demand for 5G IoT/M2M communication, that provide global connectivity for machine-to-machine communication. This in turn is driving the need for small satellite constellations. In April 2022, MP42 is NanoAvionics' launched it has been developed on one of the industry's first commercially available modular microsatellite buses. The MP42 mission is a rideshare mission that is part of the company's ongoing program. It can accommodate numerous payloads, including OQ Technology's "Tiger-3," that's add another satellite to its 5G IoT/M2M (machine-to-machine) communication constellation, and VeoWare's RW500 fully integrated reaction wheel.

To Request a Sample of our Report on Nano and Microsatellite Market: https://www.omrglobal.com/request-sample/nano-and-microsatellite-market

Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

· By System

· By Product

· By End-User

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape- includes Axelspace Corp., Capella Space Corp., China Aerospace Science and Technology Corp.(CASC), German Orbital Systems GmbH, GomSpace A/S, and others.

Nano and Microsatellite Market Report Segment

By Application

• Communication and Navigation

• Earth Observation

• Scientific Research

• Space Observation

• Others (Education, and Technology Demonstration)

By Orbit Class

• Geostationary Orbit (GEO)

• Sun-Synchronous Orbit (SSO)

• Polar Orbit

• Others (Low Earth Orbit (LEO), and Medium Earth Orbit (MEO))

By End-User

• Commercial Sector

• Governmental and Institutional Users

• Military

• Civil

A full Report of Nano and Microsatellite Market is Available @ https://www.omrglobal.com/industry-reports/nano-and-microsatellite-market

Nano and Microsatellite Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• Axelspace Corp.

• Capella Space Corp.

• China Aerospace Science and Technology Corp.(CASC)

• German Orbital Systems GmbH

• GomSpace A/S

• HawkEye 360, Inc.

• ICEYE Oy

• Kleos Space SA

• LeoStella, LLC

• NanoAvionics

• OHB System AG

• Planet Labs PBC

• Rocket Lab USA, Inc.

• Satellogic

• SpaceNews

• Spire Global, Inc.

• Terran Orbital Corp.

• Virgin Red Ltd.

Reasons to buy from us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.

2. More than 120 countries are for analysis.

3. Over 100+ paid data sources mined for investigation.

4. Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/nano-and-microsatellite-market

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no: +91 7803040404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

This release was published on openPR.