The factors such as small size and weight of these satellites make them more cost-effective and feasible for usage for civil, commercial, government, and military purposes. Global nanosatellite and microsatellite market is expected to grow at a CAGR of around 22% from 2017 to 2025.
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The demand for nanosatellite and microsatellite market has increased owing to increase in pace of earth observation, space research, and communication. Nanosatellites weigh 1 kg to 10 kg, and microsatellites weigh from11kgs to 100kgs.
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Based on applications, market is segmented into astronomy, security & surveillance, research & education, communication, navigation & mapping, remote sensing, and others. By solution, it is divided into platform, software, and services.
Various end-users included in the report are government, aerospace & defense, and others. Geographical breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Reduced manufacturing cost
Integration of hi-tech commercial off-the-shelf electronic circuits
Delay in launches
The top players in the global nanosatellite and microsatellite market include Clyde Space, GomSpace, Lockheed Martin, Innovative Solutions in Space, Planet Labs, Raytheon, RUAG, Sierra Nevada Corporation, Space Quest, and Skybox Imaging.
Security & surveillance
Research & education
Navigation & mapping
Aerospace & defense
- North America
o South Korea
o Saudi Arabia
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