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Market Size – USD 220.4 Million in 2020, Market Growth – at a CAGR of 20.4%, Market Trends – High demand from North America
VANCOUVER, BRITISH COLUMBIA, CANADA, May 8, 2023 /EINPresswire.com/ — Global Nano Satellite Market Forecast to 2030
The market for nanosatellites, also known as CubeSats, has been growing rapidly in recent years. These small satellites, typically weighing less than 10 kilograms and measuring just a few centimeters on each side, have become increasingly popular due to their low cost and versatility.
One of the primary drivers of the nanosatellite market is the increasing demand for Earth observation and remote sensing applications. Nanosatellites are well-suited for this purpose, as they can be deployed in large constellations to provide real-time monitoring and data collection over a wide area.
The global nanosatellite market size is expected to reach USD 1,336.9 million in 2030 and register a revenue CAGR of 20.4% over the forecast period, according to the latest report by Emergen Research. The rise in demand for Earth observation-related applications and the increasing number of aeronautics, communications, and satellite development companies are factors driving global nanosatellite market revenue growth.
Nanosatellites are miniaturized artificial satellites that weigh less than 10 kg. Nanosatellites are more convenient and take less time to build than convectional satellites, owing to their smaller size. Nanosatellites are launched at lower altitudes, and the cost of launching is also relatively lower. These devices travel at high speed and circle the Earth in a polar orbit. Nanosatellites are used for purposes such as remote sensing, land observation, and communication, among others.
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Another key market for nanosatellites is communications. With the rise of the Internet of Things (IoT) and other connected technologies, there is a growing need for low-cost, low-bandwidth satellite communication solutions. Nanosatellites can provide this service, either on their own or as part of a larger network.
In addition to these applications, nanosatellites are also being used for scientific research, technology demonstration, and even space exploration. With their small size and relatively low cost, they offer a cost-effective way to test new technologies and explore new frontiers in space.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
ACC Clyde Space, GomSpace A/S, ISISPACE Group, Israel Aerospace Industries (IAI) Ltd., Lockheed Martin Corporation, Alen pace, Axelspace Corporation, NanoAvionics, Planet Labs PBC, SRM Institute of Science and Technology, Sierra Nevada Corporation, EnduroSat, Sky and Space Global Ltd., and The Boeing Company
Market Dynamics:
The report offers insightful information about the market dynamics of the Nano Satellite market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Nano Satellite market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Nano Satellite market.
Radical Highlights of the Nano Satellite Market Report:
Comprehensive overview of the Nano Satellite market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Nano Satellite market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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Some Key Highlights from the Report
In December 2021, Redwire Corporation announced a three-year supplier agreement with Terren Orbital, which is a global leader and pioneer in the development, innovation and operation of small and nano satellites and Earth observation solutions. With this agreement, Redwire Corporation will deliver a wide range of advanced components and solutions to Terran Orbital, which will be used in small and nano satellite manufacturing and service offerings.
Earth observation and remote sensing segment accounted for significantly large revenue share in 2020 owing to ability of these satellites to gather information over large areas, which will help to characterize natural features or physical objects on the ground.
Government segment accounted for moderate revenue share in 2020 and is expected to register a rapid growth rate during the forecast period. Governments of various countries across the globe use real-time data collected from nano satellites for various operations such as scientific research, biological experiments, and others.
Market in Europe accounted for a significantly moderate revenue share in 2020. Rapid adoption of miniaturized artificial satellites and advancement in technologies such as Artificial Intelligence (AI), satellite IoT, in-orbit services, advanced ground systems, and others, and expanding aeronautics and satellite industries are expected to drive market growth going ahead.
Nano Satellite Market Segmentation:
Market Overview:
The report bifurcates the Nano Satellite market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Mass Outlook (Revenue, USD Billion; 2018–2030)
1kg-3kg Nano Satellite
4kg-6kg Nano Satellite
7kg-10kg Nano Satellite
Application Outlook (Revenue, USD Billion; 2018-2030)
Communication
Earth Observation and Remote Sensing
Scientific Research
Biological Experiments
Technology Demonstration and Verification
Academic Training
Mapping and Navigation
Space Exploration
End-use Outlook (Revenue, USD Billion; 2018–2030)
Government
Civil
Commercial
Military
Academic
Others
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the Nano Satellite Market report is an exhaustive database that will help readers formulate lucrative strategies. The Nano Satellite Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Nano Satellite market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Nano Satellite with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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