Nanosatellite and Microsatellite Market Size, Research Report Study, Regional and Industry Analysis, Forecast to 2028
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Market Size – USD 1.67 Billion in 2020, Market Growth – at a CAGR of 19.8%, Market Trends – Technological advancements in nanoscience.
VANCOUVER, BC, CANADA, June 21, 2022 /EINPresswire.com/ -- The global nanosatellite and microsatellite market size is expected to reach USD 7.13 Billion at a steady CAGR of 19.8% in 2028, according to latest analysis by Emergen Research. Increasing demand for improved communications and services and growing traction of Internet of Things are some key factors driving growth of the global nanosatellite and microsatellite market. Nanosatellite and microsatellite launches are low-risk and have a high success rate. Satellite launches are carried out by government agencies, private companies, as well as others. Overall cost of launches are substantially lower than conventional satellite launches due to reduced size and mass of payloads. Miniature satellites are currently being deployed in low earth orbit for remote sensing and communication.
The study on the Global Nanosatellite and Microsatellite Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Nanosatellite and Microsatellite market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Nanosatellite and Microsatellite industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Nanosatellite and Microsatellite industry.
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Some Key Highlights in the Report
In August 2020, Alén Space partnered with Orbital Transports for their Nanosatellite and Microsatellite products consisting of SmallSat Catalog. This acquisition is expected to help in the nanosatellite and microsatellite application of Emerson for commercial and defense purposes.
Application segment revenue is expected to grow at the fastest rate over the forecast period. Applications of nano satellite include for communications, Earth monitoring, and remote sensing.
Among the vertical segments, has commercial segment accounted for largest revenue share in the market, driven by increasing deployment of nanosatellites and microsatellites for commercial applications.
North America accounted for maximum revenue share in 2020 and expected to continue to account for majority revenue share over the forecasted period. This can be attributed to rapidly growing communication channels and rising data volumes driven by increasing number companies and sectors going digital.
Leading Companies of the Nanosatellite and Microsatellite Industry and Profiled in the Report are:
Planet Labs, Innovative Solutions in Space, Space Quest, D-Orbit, Deep Blue Globe, DHV Technology, Berlin Space Technology, ADASPACE, Adaptive Lunch Solution, and Alén Space.
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Furthermore, the report divides the Nanosatellite and Microsatellite market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global nanosatellite and microsatellite market based on component, application, vertical, and region:
Component Outlook (Revenue, USD Billion; 2021–2028)
Solar Panel
Onboard Computers
Power System
Antennas
Sensors and Actuators
Thermal Control System
Application Outlook (Revenue, USD Billion; 2021–2028)
Communication
Earth Monitoring
Scientific Research
Biological Research
Mapping and Navigation
Academic Training
Vertical Outlook (Revenue, USD Billion; 2021–2028)
Defense
Government
Commercial
Civil
Broadcasting
Regional Analysis:
The report sheds light on the region expected to dominate the Nanosatellite and Microsatellite market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Nanosatellite and Microsatellite market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Points of Nanosatellite and Microsatellite Market:
Extensive coverage of the analysis of the Nanosatellite and Microsatellite market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Nanosatellite and Microsatellite market
Complete data about the key manufacturers and vendors in the Nanosatellite and Microsatellite market
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Nanosatellite and Microsatellite Market Size Worth USD 7.13 Billion by 2028
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