DUBLIN--(BUSINESS WIRE)--The "Global Nano and Micro Satellite Market - Global Market Forecast and Analysis (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The market is expected to register a CAGR of 23.5% during the forecast period of 2018-2023. The factors driving this market include diminishing manufacturing, launching costs, increased investment in R&D by both public and private players, rising acceptance of satellite constellation approach, and major upcoming mission dispatches.
The cost of building a nano or microsatellite is almost negligible in comparison to the traditional large-scale satellites. This is one of the primary reason driving the market, as many venture capitalists are investing in startups in space technology. Moreover, these miniaturized satellites mostly use the hardware and software already developed and used by the tech industry.
Companies are entering the market with ease and offer diverse on-demand services. Thus, the possibilities for new applications and products & services are widening further. For instance, currently, many private players are providing internet-based space exploration to the general public.
Diminishing manufacturing and launching costs have resulted in a rise in upcoming launches, worldwide, by both, military, as well as, private conglomerates for earth observation, surveillance, and communication applications.
Key Developments in the Market
- February 2018: Unique Danish nano-satellite in orbit around the Arctic.
- February 2018: The UK space agency awarded Spire Global EUR 4 million to fund nanosatellites.
Market Dynamics
Drivers
- Low Manufacturing Cost
- High Demand in Earth Observation Applications
Restraints
- Implementation of Regulations
Opportunities
- Internet Access for Areas with No Connectivity
Major Players
- Dauria Aerospace
- Airbus
- Northrop Gruman
- SpaceQuest
- Geo Optics
- Sierra Nevada
Other Prominent Players
- Axelspace
- Deep Space Industries
- Planet Labs
Key Topics Covered
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Overview and Trends
5. Market Dynamics
6. Market Segmentation by Application
7. Market Segmentation by End-User
8. Market Segmentation by Mass
9. Market Segmentation by Geography
10. Competitive Landscape
11. Key Vendor Analysis
12. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/n6q853/global_nano_and?w=4
