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Nanosatellite and Microsatellite Market Demand, leading global Companies and Regional Average Pricing Analysis by 2030

04-18-2024 12:21 PM CET | Aerospace & Defense

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Nanosatellite and Microsatellite Market

Nanosatellite and Microsatellite Market

๐๐š๐ง๐จ๐ฌ๐š๐ญ๐ž๐ฅ๐ฅ๐ข๐ญ๐ž ๐š๐ง๐ ๐Œ๐ข๐œ๐ซ๐จ๐ฌ๐š๐ญ๐ž๐ฅ๐ฅ๐ข๐ญ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ by End User (Civil, Government, Commercial, and Military), Application (Communications, Earth Observation, Space Science, Technology Demonstration, and Technology Development), and Orbit Type (Non-Polar Inclined, Polar, and Sun-Synchronous): Global Opportunity Analysis and Industry Forecast, 2021-2030." As per the report, the global nanosatellite and microsatellite industry was accounted for $2.23 billion in 2020, and is expected to reach $8.69 billion by 2030, growing at a CAGR of 14.9% from 2021 to 2030.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A07491

North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global nanosatellite and microsatellite market share in North America in 2020, owing to increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making reliable, long-lasting, and efficient nanosatellite and microsatellites. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in manufacturing and launch of nanosatellites and microsatellites across several Asian nations, for instance, China, India, Japan, and South Korea.

๐๐ซ๐จ๐ฆ๐ข๐ง๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

The key players that operate in the global nanosatellite and microsatellite market include AAC Clyde Space AB, Astro Digital, Gomspace, L3Harris Technologies, Inc., Lockheed Martin Corporation, Planet Labs Inc., Sierra Nevada Corpporation, Surrey Satellite Technology Ltd., Swarm Technologies Inc., and Tyvak Nano-Satellite Systems, Inc

By end user, the nanosatellite and microsatellite market is segregated into civil, government, commercial, and military. The commercial segment accounted for the highest revenue in 2020, owing to high demand for nanosatellite and microsatellites for various commercial applications globally.

๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/nanosatellite-and-microsatellite-market/purchase-options

By orbit type, the nanosatellite and microsatellite market is fragmented into non-polar inclined, polar, and sun-synchronous. The sun-synchronous was the highest revenue contributor in 2020, owing to a majority of the nanosatellite and microsatellites being launched in this orbit type.

Increase in production and launch of CubeSats and smaller size and weight of nanosatellite and microsatellite than conventional satellites have boosted the growth of the global nanosatellite and microsatellite market. However, stringent government regulations and limitations of small satellites regarding payload accommodation hinder the market growth. On the contrary, rise in demand for satellite data and increase in demand for nanosatellites and microsatellites from the commercial sector are anticipated to pave the way for multiple opportunities in the industry.

Based on application, the earth observation segment accounted for more than half of the global nanosatellite and microsatellite market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the high demand of satellite data for earth observation applications across the globe. The communications segment, however, would showcase the fastest CAGR of 16.7% by 2030. Increase in demand for faster and secure communications throughout the world drives the growth of the segment. The report also includes analysis of space science, technology development, and technology demonstration segments.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

By region, North America garnered the major share in 2020, contributing to more than half of the global nanosatellite and microsatellite market. This is due to the key players in the region taking recourse to innovative developments, increase in R&D activities, and increased adoption of innovative technologies in order to develop long-lasting, reliable, and efficient nanosatellite and microsatellites. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 16.4% throughout the estimated period. This is attributed to the rise in production and launch of nanosatellites and microsatellites across several Asian nations such as India, China, Japan, and South Korea.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A07491

By end users, the commercial segment contributed to more than three-fourths of the global nanosatellite and microsatellite market revenue in 2020, and is projected to maintain the lion's share from 2021 to 2030. This is due to high demand for nanosatellites and microsatellites for various commercial applications. Moreover, this segment would cite the fastest CAGR of 15.6% by the end of 2030. The report also includes analysis of civil, government, and military segments.

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜

By end user, the commercial segment is expected to register a significant growth during the forecast period.

By application, the communications segment is anticipated to exhibit significant growth in future.

By orbit type, the sun-synchronous segment is projected to lead the global nanosatellite and microsatellite market.

Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Autonomous Aircraft Market - https://www.alliedmarketresearch.com/autonomous-aircraft-market-A07121

Small Satellite Market - https://www.alliedmarketresearch.com/small-satellite-market

Small Drones Market - https://www.alliedmarketresearch.com/small-drones-market

Military Antenna Market - https://www.alliedmarketresearch.com/military-antenna-market-A09184

Aircraft Engines Market - https://www.alliedmarketresearch.com/aircraft-engines-market

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

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๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research 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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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