What is Nano and Microsatellite Market Scope?
The term "nanosatellite" or "nanosat" is refer as an artificial satellite which have a wet mass between 1 and 10 kg (2.2 and 22.0 lb). While "microsatellite" or "microsat" is refer as an artificial satellite with a wet mass between 10 and 100 kg (22 and 220 lb). Nano satellites are basically cheaper to build and launch in space than traditional satellites. Such satellites are used exclusively in low Earth orbit, gathering of scientific data and radio relay. Technical challenges in the construction of such satellites may include the lack of sufficient power storage or of room for a propulsion system.
The Nano and Microsatellite market study is being classified by Type (Microsatellite and Nanosatellite), by Application (Communication, Earth Observation and Remote Sensing, Scientific Research, Biological Experiments, Technology Demonstration and Verification, Academic Training, Mapping and Navigation and Reconnaissance) and major geographies with country level break-up.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new technology, which is likely to encourage the growth of the global market throughout the forecast period. Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Nano and Microsatellite market throughout the predicted period.
GomSpace (Denmark), Lockheed Martin (United States), L3Harris (United States), Sierra Nevada Corporation (United States), AAC Clyde Space (Scotland), Planet Labs (United States), Tyvak (United States), NanoAvionics (United States), Innovative Solutions In Space (Netherlands) and SpaceQuest (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Raytheon (United States), RUAG (Switzerland), Surrey Satellite Technology Limited (England) and Dauria Aerospace (Russia).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Nano and Microsatellite market by Type, Application and Region.
On the basis of geography, the market of Nano and Microsatellite 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).
Market Influencers and their development strategies
Lockheed Martin and Rovsing collaborated to bring better solar simulators in the market to service the increasing demand for a range of spacecraft sizes. Solar simulation equipment tests power and electrical systems for all spacecrafts
GomSpace signed a development contract with European Space Agency (ESA) for the initiation of a new GOMX-5 satellite mission. The purpose of the mission is to demonstrate new nanosatellite capabilities for the next generation of constellations requiring high-speed communication links and high levels of maneuverability
Influencing Market Trend
- Increasing Demand for Leo-Based Services
Market Drivers
- Growing Focus on Reducing the Cost of Miniatures Satellite
- Rising Demand for Earth Observation Related Application
Opportunities
- Growth in the Demand for Satellite Imagery From Nongovernmental Players
- Increase in the Number of Application Areas
Restraints
- Limited Access to Space
- Government Policies
Challenges
- Raising Capital and Funding of Satellite Manufacturing and Launch
- Concerns Related to Space Debris
Key Target Audience
Component manufacturers, Sensor designers, Electronics and semiconductor companies, Technology providers, Original equipment manufacturers (OEMs), Technology standards organizations, forums, alliances, and associations, Research organizations and Government bodies
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