Nanosatellite and Microsatellite Market Can Touch Approximately USD 8.69 billion, Developing at a Rate of 14.9% By 2030

Rise in manufacturing and launch of CubeSats and small size and light weight of nanosatellite and microsatellite than traditional satellites have improved the growth of global 𝐍𝐚𝐧𝐨𝐬𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐚𝐧𝐝 𝐌𝐢𝐜𝐫𝐨𝐬𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭. The global nanosatellite and microsatellite market was valued at $2.23 billion in 2020, and is projected to reach $8.69 billion in 2030, registering a CAGR of 14.9%.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A07491

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.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

L3HARRIS TECHNOLOGIES, INC., Astro Digital, Swarm Technologies, Inc., AAC Clyde Space AB, PLANET LABS INC, SIERRA NEVADA CORPORATION, Surrey Satellite Technology Ltd., LOCKHEED MARTIN CORPORATION, GOMSPACE, Tyvak Nano-Satellite Systems, Inc.

By application, the market is segmented into communications, earth observation, space science, technology demonstration, and technology development. The earth observation segment garnered the highest revenue in 2020, owing to high demand of satellite data for earth observation applications across the world.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/602f681de4d5235e46ccfb83ce2d62de

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.

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/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.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Small Satellite Market - https://www.globenewswire.com/en/news-release/2021/09/20/2299922/0/en/Small-Satellite-Market-to-Hit-13-71-Billion-by-2030-Allied-Market-Research.html

Satellite Payload Market - https://www.globenewswire.com/en/news-release/2023/10/23/2764395/0/en/Satellite-Payload-Market-to-Generate-17-6-Billion-by-2030-with-8-3-CAGR-states-Allied-Market-Research.html

Missile Guidance System Market - https://www.globenewswire.com/en/news-release/2023/01/17/2590216/0/en/Missile-Guidance-System-Market-to-Garner-1-3-Billion-by-2031-Allied-Market-Research.html

Space Debris Monitoring and Removal Market - https://www.prnewswire.com/news-releases/space-debris-monitoring-and-removal-market-to-reach-2-010-3-million-by-2032-at-7-7-cagr-allied-market-research-301986980.html

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