About CubeSat
CubeSat is defined as the miniaturized satellite for space research which is made up of multiples of 10 cm × 10 cm × 11.35 cm cubic units. It is normally put in orbit by deployers on the International Space Station. Increasing focus on reducing mission costs, the rise in demand for CubeSats in applications related to earth observation are likely to be a major driver for the global CubeSat market over the forecast period. The market for the CubeSats is anticipated to register a CAGR of over 21.2% during the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CubeSat is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs and preferences of consumers. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global CubeSat market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Planet Labs (United States), Pumpkin Space Systems (United States), GomSpace (Germany), Clyde Space (United Kingdom), Surrey Satellite Technologies (United States), Sierra Nevada Corporation (United States), Capella Space (United States), Space Systems Loral (United States), EnduroSat (Bulgaria) and CU Aerospace (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global CubeSat market by , Application (Earth Observation & Traffic Monitoring, Communication, Science & Technology and Education) and Region.
On the basis of geography, the market of CubeSat has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Size, the sub-segment i.e. 0.25U-1U will boost the CubeSat market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Subsystem, the sub-segment i.e. Payloads will boost the CubeSat market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Government & Military will boost the CubeSat market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in CubeSat Batteries
Market Growth Drivers:
New Application Areas for CubeSats and Economical Compared to Conventional Satellites
Challenges:
Communication Issues and Rigid Design Structure
Restraints:
Lack of Launch Vehicles
Opportunities:
Testing of New Technologies and Development of Advanced Technologies
Market Leaders and their expansionary development strategies
In August 2018, Space Systems/Loral, LLC (United States) Company has partnered with Thales Alenia Space (France) Company in order to form a consortium, which received a systems design as well as risk management contract for the LEO communications satellite of Telesat (Canada). Therefore, this will, in turn, propel the growth of the CubeSat market.
In October 2023, Planet Labs, Satellite images reveal 400 vehicles in Israel near northern Gaza, which is Palestinian territory. This points to the possibility that Israel is rushing to deploy forces within 10 kilometers of the border in preparation for a ground invasion.
Key Target Audience
Manufacturers of CubeSat, Suppliers of CubeSat, Wholesalers, Distributors, and Retailers of CubeSat, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.