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Nanosatellite and Microsatellite Market by Component, Mass, Application, Vertical - Global Forecast to 2022

Nanosatellite and Microsatellite Market: Global Forecast until 2022

  • June 2017
  • 128 pages
  • ID: 4960856
In this report:
Earth observation and remote sensing is expected to be the fastest-growing segment and is projected to grow at a CAGR of ##.##% during the forecast period.
The ## kg-## kg (nanosatellite) segment is expected to grow at the highest CAGR of ##.##% during the forecast period.
The Asia-Pacific nanosatellite and microsatellite market is expected to grow at a CAGR of ##.##% from 2017 to 2022.

Summary

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"The low manufacturing cost of miniature satellites is one of the top factors projected to drive the rise of the nanosatellite and microsatellite market."

The nanosatellite and microsatellite market is forecasted to grow from ~$1.2B in 2017 to ~$3.5B by 2022, at a Compound Annual Increase rate of 23.70 percent during the forecast period. Elements such as the high demand for miniature satellites in Earth observation applications, low manufacturing cost of miniature satellites, and rised market investments in nanosatellite and microsatellite technologies are forecast to steer the market increase. The implementation of stringent regulations pertaining to the growing number of satellites being launched can restrain the increase of the market.

"Established on component, the service segment is envisaged to be the biggest segment of the nanosatellite and microsatellite market in 2017."

Established on component, the service segment is planned to be the most important segment of the nanosatellite and microsatellite market in 2017. Services provided by corporations in the industry contain planning and satellite design, mission management, engineering services, science services, testing, support, and all such services needed for the efficient operation of nanosatellites and microsatellites. The increase of the services segment can be primarily attributed to the high demand for vendors of nanosatellites and microsatellites that provide support services, additionally to developing and designing miniature satellites.

"Established on application, the Earth observation and remote sensing segment is anticipated to be the biggest segment of the market in 2017."

The Earth observation and remote sensing segment is intended to be the most important segment of the nanosatellite and microsatellite market in 2017. The high mobility of nanosatellites and microsatellites, due to their compactness, makes them ideal to forecast disasters with no delay in reporting time and track several weather-related phenomena, including hurricanes, lightning, polar lights, or natural catastrophes.

Based on vertical, the commercial segment is forecasted to be the biggest segment of the market in 2017.

Based on vertical, the commercial segment of the nanosatellite and microsatellite market is anticipated to witness the highest rise in the next years. Firms operational in the commercial vertical can gather real-time data and distribute it across a wide geographic area to their clients with the help of miniature satellites. Civil, government, and defense are other main verticals wherein nanosatellites and microsatellites are widely used.

"Europe (EU) is anticipated to be the quickest developing market for nanosatellites and microsatellites during the outlook period"

The nanosatellite and microsatellite market has been studied for North America continent, EU, Asia Pacific (APAC), and RoW. The sector in Europe (EU) includes the United Kingdom, Russian Federation, Germany (DE), and France (FR), who are quickly gaining technological leadership in satellite manufacturing. The industry for nanosatellites and microsatellites in EU is anticipated to witness the highest increase during the forecast period due to the increased demand for missions that provide info for Earth observation and scientific exploration.

Comprehensive interviews were managed with Chief Executive Officers, marketing directors, innovative products and technology directors, and executives from numerous main institutions operating in the nanosatellite and microsatellite marketplace.

- By Company Type: Tier 1: 17.0 percent, Tier 2: 33.0 percent, and 1/3 3: 50.0 percent

- By Designation: C-Level: 35.0 percent, Director Level: 60.0 percent, and Others: 5.0 percent

- By area: North america (NA): 48.0 percent, Europe: 35.0 percent, and APAC: 17.0 percent

Segment Research

The nanosatellite and microsatellite market has been divided on the basis of component, mass, application, vertical, and area. Established on component, the nanosatellite and microsatellite market has been divided into hardware, software and data processing, service, and launch service. Established on mass, the sector has been broken down into 1 kg-10 kg and 11 kg-100 kg. Established on application, the nanosatellite and microsatellite market has been split into communication, Earth observation and remote sensing, scientific research, biological experiment, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance. Based on vertical, the nanosatellite and microsatellite market has been divided into government, civil, commercial, defense, energy & infrastructure, and maritime & transportation. Established on area, the nanosatellite and microsatellite market has been divided into north america, Europe (EU), Asia-Pac and RoW (the Middle East (ME) & African continent and Latin America area).

Main highlights

The study will facilitate industry key players and new industry entrants in the nanosatellite and microsatellite market in these ways:

The analysis will facilitate industry top players/new sector entrants in this sector by providing them the closest approximations of revenues of the nanosatellite and microsatellite market and its sub-segments. This industry report will also assist partners better comprehend the competitor overview, gain more insight to better position their businesses, and implement suitable go-to-market approaches. The market research will facilitate partners comprehend the pulse of the sector and offer them with info on main market drivers, market restraints, opportunities, and alternatives.

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