Global Nano Satellite Market Forecast to 2030
The global nanosatellite market size is expected to reach USD 1,336.9 Million in 2030 and register a revenue CAGR of 20.4% over the forecast period, according to the latest report by Emergen Research. The rise in demand for Earth observation-related applications and the increasing number of aeronautics, communications, and satellite development companies are factors driving global nanosatellite market revenue growth.
The comprehensive and significant market research study on Nano satellite offers business strategies, qualitative and quantitative analyses, and emerging trends. The report provides an in-depth examination and analysis of the key elements of the global Nano satellite Market. By conducting extensive primary and secondary research and analyzing the drivers, constraints, challenges, trends, and opportunities of the Nano satellite Market, the research analysts created this report.
Nanosatellites are miniaturized artificial satellites that weigh less than 10 kg. Nanosatellites are more convenient and take less time to build than convectional satellites, owing to their smaller size. Nanosatellites are launched at lower altitudes, and the cost of launching is also relatively lower. These devices travel at high speed and circle the Earth in a polar orbit. Nanosatellites are used for purposes such as remote sensing, land observation, and communication, among others.
The lower manufacturing cost of nanosatellites compared to that of traditional satellites enables large-quantity production more easily. Moreover, nanosatellites are always launched in groups into Earth’s orbit, which also reduces launching costs. Furthermore, universities, space agencies, and private companies across the globe are taking various initiatives to launch new nanosatellite missions, which is driving market revenue growth.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Nano Satellite market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
ACC Clyde Space, GomSpace A/S, ISISPACE Group, Israel Aerospace Industries (IAI) Ltd., Lockheed Martin Corporation, Alen pace, Axelspace Corporation, NanoAvionics, Planet Labs PBC, SRM Institute of Science and Technology, Sierra Nevada Corporation, EnduroSat, Sky and Space Global Ltd., and The Boeing Company
Research Report on the Nano Satellite Market Addresses the Following Key Questions:
Who are the dominant players of the Nano Satellite market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Nano Satellite market?
What are the key growth drivers and restraining factors of the Nano Satellite market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Nano Satellite market and its key segments?
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Some Key Highlights from the Report
In December 2021, Redwire Corporation announced a three-year supplier agreement with Terren Orbital, which is a global leader and pioneer in the development, innovation and operation of small and nano satellites and Earth observation solutions. With this agreement, Redwire Corporation will deliver a wide range of advanced components and solutions to Terran Orbital, which will be used in small and nano satellite manufacturing and service offerings.
Earth observation and remote sensing segment accounted for significantly large revenue share in 2020 owing to ability of these satellites to gather information over large areas, which will help to characterize natural features or physical objects on the ground.
Government segment accounted for moderate revenue share in 2020 and is expected to register a rapid growth rate during the forecast period. Governments of various countries across the globe use real-time data collected from nano satellites for various operations such as scientific research, biological experiments, and others.
Market in Europe accounted for a significantly moderate revenue share in 2020. Rapid adoption of miniaturized artificial satellites and advancement in technologies such as Artificial Intelligence (AI), satellite IoT, in-orbit services, advanced ground systems, and others, and expanding aeronautics and satellite industries are expected to drive market growth going ahead.
Market Segmentations of the Nano Satellite Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Nano Satellite market on the basis of product, application, and region:
Segments Covered in this report are:
Mass Outlook (Revenue, USD Billion; 2018–2030)
1kg-3kg Nano Satellite
4kg-6kg Nano Satellite
7kg-10kg Nano Satellite
Application Outlook (Revenue, USD Billion; 2018-2030)
Communication
Earth Observation and Remote Sensing
Scientific Research
Biological Experiments
Technology Demonstration and Verification
Academic Training
Mapping and Navigation
Space Exploration
End-use Outlook (Revenue, USD Billion; 2018–2030)
Government
Civil
Commercial
Military
Academic
Others
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Regional Landscape section of the Nano Satellite report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Nano Satellite Market report:
The latest report comprehensively studies the global Nano Satellite market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Nano Satellite Market report is an exhaustive database that will help readers formulate lucrative strategies. The Nano Satellite Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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