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The global nanosatellite and microsatellite market reached a value of US$ 1.64 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 21.8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global nanosatellite and microsatellite market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on satellite mass, component, application and end-use sector.
Breakup by Satellite Mass:
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.
|Base Year of the Analysis||2020|
|Segment Coverage||Satellite Mass, Component, Application, End-Use Sector, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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 and Tyvak|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global nanosatellite and microsatellite market was valued at US$ 1.64 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in disrupted supply chain of critical aeronautical parts with delay in the launch of various satellites and R&D activities.
We expect the global nanosatellite and microsatellite market to grow at a CAGR of 21.8% during 2021-2026.
The increasing penetration of miniaturization technologies across the civil, commercial and defense sectors, represents one of the factors catalyzing the global nanosatellite and microsatellite market.
Based on the satellite mass, the global nanosatellite and microsatellite market can be categorized 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 global nanosatellite and microsatellite 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, where earth observation and remote sensing currently represents the largest segment.
Based on the end-use sector, the global nanosatellite and microsatellite market can be bifurcated into government, civil, commercial, defense, energy and infrastructure, and others. Among these, the commercial sector holds the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global nanosatellite and microsatellite market include 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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