The global nanosatellite and microsatellite market reached a value of US$ 1.64 Billion in 2020. Nanosatellites and microsatellites (NaM) refer to miniaturized artificial satellites that weigh between 1 to 10 kilograms. They circle the earth in a polar (circular or elliptical) orbit and are usually launched at low altitudes. They travel at high speeds and offer optimum solutions for communications, remote sensing and land observations. These satellites consist of various hardware, software and data processing devices that are also used for geographical mapping, navigation and scientific research. The data obtained from these satellites is processed and used for improving water management and carrying out relief and defense operations.
Significant growth in the aeronautic and satellite industry is one of the key factors driving the growth of the market. Furthermore, advancements in the miniaturization technologies across industries are also providing a boost to the market growth. NaMs are increasingly being utilized across the civil, commercial and defense sectors to conduct low-cost space missions, including geolocation, signal monitoring and communications. Various technological advancements, such as the integration of these satellites with artificial intelligence (AI), robotics and the Internet of Things (IoT) is acting as another growth-inducing factor. These technologies, along with Very High Frequency (VHF), Ultra High Frequency (UHF) and visible transmission technologies, aid in increasing signal frequencies and overall data transfer speeds between the satellite and the ground stations. Other factors, including the deployment of solar panels and star tracker technologies, along with extensive research and development (R&D) activities in the field of space science, are projected to drive the market further. Looking forward, IMARC Group expects the global nanosatellite and microsatellite market to exhibit strong growth during the next five years.
Breakup by Satellite:
Breakup by Component:
Breakup by End-Use Sector:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being AAC Clyde Space., Axelspace Corporation, Berlin Space Technologies, GomSpace, ISIS, L3harris Technologies Inc., Lockheed Martin Corporation., Planet Labs Tb Inc., Spacequest Ltd., Spire Inc., Surrey Satellite Technology, Tyvak, etc.
Key Questions Answered in This Report
The global nanosatellite and microsatellite market size was valued at US$ 1.64 Billion in 2020.
According to the estimates by IMARC Group, the global nanosatellite and microsatellite market is expected to witness a CAGR of 21.8% from 2021 to 2026.
The increasing penetration of miniaturization technologies across the civil, commercial and defense sectors represents one of the key drivers for the global nanosatellite and microsatellite market.
The rising integration of numerous advanced solutions, such as AI, robotics, IoT, etc., with aeronautical applications represents one of the key trends in the global nanosatellite and microsatellite market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in disrupted supply chains of critical aeronautical parts and delay in the launch of various satellites, thereby hampering the overall market.
On the basis of the satellite, the market has been bifurcated into nanosatellite (1kg to 10kg) and microsatellite (10kg to 100kg). Currently, nanosatellite holds the majority of the total market share.
Based on the application, the market has been segmented into communication, earth observation and remote sensing, scientific research, biological experiments, technology demonstration and verification, academic training, mapping and navigation, reconnaissance, and others. Among these, earth observation and remote sensing represents the largest segment.
On the basis of the end-use sector, the market has been bifurcated into government, civil, commercial, defense, energy and infrastructure, and others. Among these, commercial holds the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global nanosatellite and microsatellite market are AAC Clyde Space., Axelspace Corporation, Berlin Space Technologies, GomSpace, ISIS, L3harris Technologies Inc., Lockheed Martin Corporation., Planet Labs Tb Inc., Spacequest Ltd., Spire Inc., Surrey Satellite Technology, Tyvak, etc.
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