Nano and Microsatellite Market 2023 Driving Factors Forecast Research 2029

Nano and microsatellite market is anticipated to grow at a CAGR of 23.3% during the forecast period (2023-2030). The market's growth is attributed to increasing improved capabilities and technological advances. Miniaturization advances have increased SmallSat capabilities, making them viable for a wide range of applications previously reserved for larger satellites. According to the National Aeronautics and Space Administration (NASA), in May 2022, the demand for launching SmallSats was high, accounting for more than 94.0% of all spacecraft launched. This trend has been growing since 2012, when SmallSats represented more than 82% of all spacecraft. With more SmallSat and CubeSat constellations currently being planned, the demand for launching SmallSats is expected to continue to increase. Overall, of the more than 1,849 spacecraft launched in 2021, more than 1,700 had a mass of less than 600kg. These SmallSats made up more than 16% of the total mass.

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The global nano and microsatellite market is segmented based on the application, orbit class, and end-user. Based on the application, the market is sub-segmented into communication and navigation, earth observation, scientific research, space observation, and others. Based on the orbit class, the market is sub-segmented into GEO, SSO, polar orbit, and others. Further, based on end-user, the market is sub-segmented into commercial sector, governmental and institutional users, military, and civil. Among the end-user, the commercial sector sub-segment is expected to capture a significant portion of the market share. The growth is attributed to the increased communication, broadcasting, and navigation operations globally. For instance, in March 2021, Open Cosmos launched 2 commercial satellite, one is projected to grow Lacuna Space's IoT constellation, that employs LoRaWAN, while the other serves as the first satellite of 5G IoT space telecom provider Sateliot. Satellites provide IoT capabilities and connectivity throughout the globe, including distant locations, and prove essential in monitoring the environment, biodiversity, maritime logistics, and off-shore infrastructure.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Nano and Microsatellite Market by Application
o Communication and Navigation
o Earth Observation
o Scientific Research
o Space Observation
o Others (Education and Technology Demonstration)

Global Nano and Microsatellite Market by Orbit Class
o Geostationary Orbit (GEO)
o Sun-Synchronous Orbit (SSO)
o Polar Orbit
o Others (Low Earth Orbit (LEO), and Medium Earth Orbit (MEO))

Global Nano and Microsatellite Market by End-User
o Commercial Sector
o Governmental and Institutional Users
o Military
o Civil

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o Axelspace Corp.
o Capella Space Corp.
o China Aerospace Science and Technology Corp.(CASC)
o German Orbital Systems GmbH
o GomSpace A/S
o HawkEye 360, Inc.
o ICEYE Oy
o Kleos Space SA
o LeoStella, LLC
o NanoAvionics
o OHB System AG
o Planet Labs PBC
o Rocket Lab USA, Inc.
o Satellogic
o SpaceNews
o Spire Global, Inc.
o Terran Orbital Corp.
o Virgin Red Ltd.

The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global nano and microsatellite market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies. Competitive strategies by identifying 'who-stands-where' in the market.

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