DUBLIN--(BUSINESS WIRE)--Jan 14, 2020--

The global nanosatellite and microsatellite market size to grow at a CAGR of 19.8% during the forecast period

The global nanosatellite and microsatellite market size is expected to grow from USD 1.5 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. The satellites are used for several applications, such as communication, earth observation and remote sensing, scientific research, biological experiments, academic training, reconnaissance, and various other applications by the defense, intelligence, civil, commercial, and/or government users. Continuous advancements in the miniaturization of technologies, such as electronics; low-mission costs; and the increasing use of satellite constellations are major drivers of the market.

Hardware segment to lead the nanosatellite and microsatellite market in 2019

Hardware is the core of nanosatellites and microsatellites, which are readily available with vendors for easy integration and plug-and-play processes. These hardware contribute to the complete mass of the satellites and based on the weight of these hardware; small satellites are categorized as nanosatellites or microsatellites. The hardware segment includes subsystems, such as payloads, structures, telecommunications, on-board computers, power systems, attitude control systems, and propulsion systems. The growth in this segment is significant with a number of players offering low-cost hardware and manufacturing services.

Earth observation and remote sensing segment to lead the nanosatellite and microsatellite market in 2019

Nanosatellites and microsatellites have brought novel opportunities for earth observation and remote sensing using inexpensive small satellites to capture images of the earth and gather specific data. Nanosatellites and microsatellites are expected to play a major role in remote sensing missions due to their enhanced computational and communication capabilities, along with competencies in taking decisions about the time and data to be shared. Successful programs to develop and examine advanced hyperspectral imaging systems compatible with nanosatellite and microsatellite missions enable small satellites to generate high-quality complex images.

North America to lead the nanosatellite and microsatellite market in 2019

North America leads in the adoption of nanosatellites and microsatellites and provides great opportunities for growth of the overall market. The region has always been an early adopter of new technology or software, and the North American market grows at a faster rate initially as compared to any other region. The demand for nanosatellites and microsatellites in North America is being driven by the booming digitalization across industries along with a surging demand for earth observation satellites, which offer extremely high resolution earth images and videos, as close as 1 meter or less, of the earth's surface.

Key benefits of buying the report:

The report would provide market leaders/new entrants in the nanosatellite and microsatellite market, with information on the closest approximations of the revenue numbers for the overall nanosatellite and microsatellite market and subsegments. The report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It further helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

Key Topics Covered:

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.2.1 Inclusions and Exclusions

1.3 Market Scope

1.3.1 Market Segmentation

1.4 Years Considered for the Study

1.5 Currency Considered

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Breakup and Data Triangulation

2.3 Market Size Estimation

2.4 Market Forecast

2.5 Competitive Leadership Mapping Methodology

2.6 Assumptions for the Study

2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the Global Nanosatellite and Microsatellite Market

4.2 Global Market By Type and Region

4.3 Market By Region

4.4 Market Investment Scenario

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.3 Evolution of Nanosatellite and Microsatellite

5.4 Use Cases

5.5 Impact of Disruptive Technologies

6 Nanosatellite and Microsatellite Market By Component

6.1 Introduction

6.2 Hardware

6.3 Software and Data Processing

6.4 Space Services

6.5 Launch Services

7 Nanosatellite and Microsatellite Market By Type

7.1 Introduction

7.2 Nanosatellite

7.3 Microsatellite

8 Nanosatellite and Microsatellite Market By Application

8.1 Introduction

8.2 Communication

8.3 Earth Observation and Remote Sensing

8.4 Scientific Research

8.5 Biological Experiments

8.6 Technology Demonstration and Verification

8.7 Academic Training

8.8 Mapping and Navigation

8.9 Reconnaissance

9 Nanosatellite and Microsatellite Market By Vertical

9.1 Introduction

9.2 Government

9.3 Civil

9.4 Commercial

9.5 Defense

9.6 Energy and Infrastructure

9.7 Maritime and Transportation

10 Nanosatellite and Microsatellite Market By Region

10.1 Introduction

10.2 North America

10.3 Europe

10.4 Asia Pacific

10.5 Rest of the World

11 Competitive Landscape

11.1 Overview

11.2 Competitive Leadership Mapping

11.2.1 Visionary Leaders

11.2.2 Dynamic Differentiators

11.2.3 Innovators

11.2.4 Emerging Companies

11.2.5 Ranking of Key Players

11.3 Competitive Scenario

11.3.1 New Product Launches

11.3.2 Partnerships

12 Company Profiles

12.1 Introduction

12.2 Gomspace

12.3 Lockheed Martin

12.4 L3Harris

12.5 Sierra Nevada Corporation

12.6 AAC Clyde Space

12.7 Planet Labs

12.8 Tyvak

12.9 NanoAvionics

12.10 Innovative Solutions in Space

12.11 SpaceQuest

12.12 Raytheon

12.13 RUAG Space

12.14 Surrey Satellite Technology Limited

12.15 Dauria Aerospace

12.16 Axelspace Corporation

12.17 Sky and Space Global

12.18 Kepler

12.19 GAUSS'

12.20 Spaceworks Enterprises

12.21 Berlin Space Technologies

12.22 Right-to-Win

For more information about this report visit https://www.researchandmarkets.com/r/u5lnai

Laura Wood, Senior Press Manager

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900



SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 01/14/2020 08:50 AM/DISC: 01/14/2020 08:50 AM

Copyright Business Wire 2020.