DUBLIN--(BUSINESS WIRE)--The "Nanosatellite and Microsatellite Market by Component (Hardware, Software & Data Processing, Launch Services), Type (Nanosatellite and Microsatellite), Application, Vertical (Government, Defense, Civil), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global nanosatellite and microsatellite market is expected to grow from USD 1.8 billion in 2020 to USD 4.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period.
This report includes an in-depth competitive analysis of key players in the nanosatellite and microsatellite market, along with their company profiles, recent developments, and key market strategies. The report segments the global nanosatellite and microsatellite market by component, type, application, vertical, and region.
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 2020.
Hardware is the core of nanosatellites and microsatellites, which are readily available with vendors for easy integration and plug-and-play processes. Hardware contributes to the complete mass of the satellites, and based on the weight of 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 2020.
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 making 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 2020.
North America leads in the adoption of nanosatellites and microsatellites and provides great opportunities for the 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 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 Topics Covered
1 Introduction
2 Research Methodology
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: Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Leo-Based Services
5.2.1.2 Growing Focus on Reducing the Cost of Miniatures Satellite
5.2.1.3 Rising Demand for Earth Observation Related Application
5.2.2 Restraints
5.2.2.1 Limited Access to Space
5.2.2.2 Government Policies
5.2.1 Opportunities
5.2.1.1 Growth in the Demand for Satellite Imagery from Nongovernmental Players
5.2.1.2 Increase in the Number of Application Areas
5.2.2 Challenges
5.2.2.1 Raising Capital and Funding of Satellite Manufacturing and Launch
5.2.2.2 Concerns Related to Space Debris
5.3 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis
5.3.1 COVID-19 Dynamics Impacting Email Encryption Market Growth
5.4 Evolution of Nanosatellite and Microsatellite
5.5 Use Cases
5.5.1 Use Case: Hawkeye 360
5.5.2 Use Case: KTH Royal Institute of Technology
5.5.3 Use Case: European Firers Project
5.6 Impact of Disruptive Technologies
5.6.1 Artificial Intelligence
5.6.2 Internet of Things
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
11.3 Ranking of Key Players
11.4 Competitive Scenario
11.4.1 New Product Launches
11.4.2 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 Spire Global
12.23 Pumpkin
12.24 Northrop Grumman Corporation
12.25 Dynetics
12.26 Satellogic
12.27 Right-To-Win
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