Nanosatellite and Microsatellite Market is anticipated to grow at a 19.5% CAGR during forecast period and expected to reach USD 6,321 Million by 2028.

Introduction of the Nanosatellite and Microsatellite Market Report

Nanosatellites weights usually weight from 1-10 kg, following CubeSats standards and microsatellites weight from 10 to 100 kg.  Nanosatellites are miniature satellites that can be used exclusively in low earth orbit. The low cost of CubeSats, modular design, and off-the-shelf components make them convenient technology capable of discomposing the spacecraft industry and deep space mission. These satellites can be used for various applications such as biological experiments, communication, navigation & mapping, scientific research, education, and earth observation.

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Market Dynamic

Key Drivers and Emerging Trends

With the rise in the demand for small satellites in observation of earth, the demand for Low Earth Orbit (LEO) based services is increasing. These LEO satellites better connect remote and accessible regions. Growing investment and funding and the demand for low-cost broadband among consumers in less developed countries can be some of the major factors expected to drive the Nanosatellite and Microsatellite market size. Moreover, use of microsatellites and nanosatellites in various sectors such as civil engineering, defense & intelligence, transport, and others for high-resolution imagery for monitoring and verifying applications, will further support the growth of the Nanosatellite and Microsatellite market.
Additionally, nano and microsatellites can also be used as a secondary payload, and it has now being adopted for tactical warfare as a military satellite. The sensors used in these satellites can automatically sense nuclear explosions and detect the detonation location. It can also provide an early warning in case of an intercontinental ballistic missile is detected.

Restraint in the Nanosatellite and Microsatellite Market

However, the small satellites launches are limited as they have to rideshare as secondary payloads on rocket launching of large satellites. These options restrict small satellites in terms of integration and launch schedules and loss of flexibility. The launch process of small satellites is complex enough for operators, which may hamper the nanosatellite and microsatellite market.

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Component- Segment Analysis

Based on components, software and data processing segment will have the largest market size over the forecast period. Advanced data processing in space can now monitor agriculture, environmental protection, and geology on earth. These software helps in commands and data handling and are required for accepting and extracting actionable information from raw satellite data at the ground station. For instance, SaaS cloud-based solutions are efficient and cost-effective, offering remote access to services and automatic updates of nanosatellites and microsatellites. This can be a crucial factor for the segment’s vigorous growth.

Type- Segment Analysis

Based on Type, the nanosatellite segment is expected to grow at the highest CAGR during the forecast period. The nanosatellite services help meet the various business challenges, stimulate developments, and enable the collaboration of different platforms and services. A CubeSat is a nanosatellite’s extended version with a standard unit volume of 10 x 10 x 10 cm, which can be clubbed up to six units as per the mission requirement. For instance, with the help of specialized hyperspectral cameras and satellite technology, it has become possible to observe what damages the environment, how the changes are occurring, and can be prevented before any devastation occurs.

Vertical – Segment Analysis

Based on vertical, the commercial sector is expected to witness the Nanosatellite and Microsatellite market growth during the forecast period. Private companies are investing in small satellites as they are cheaper and faster to build. For instance, geospatial technology uses earth images from small satellites for agriculture, education, intelligence navigation, mapping, and other uses, driving the growth of the commercial sector.

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Regional – Segment Analysis

Based on region, the North America region is expected to have a large market in the coming forecast period. The demand for nanosatellites and microsatellites is booming with the surging demand for earth observation satellites. These satellites help in getting high-resolution pictures of the earth and close to one meter or less than videos of the earth’s surface. For instance, NASA has undertaken nanosatellites and microsatellites to develop new cutting-edge technologies to boost innovation in these segments. It will help in getting close pictures of earth.

Top Market Players

some of the key players operating in the Nanosatellite and Microsatellite market includes Planet Labs Inc., SpaceQuest Ltd., Spire Global Inc., Axelspace, Astrocast, Surrey Satellite Technology, Sierra Nevada Corporation, Millennium Space System, Ruag Space, Exolaunch and among others.

Key Developments:

• • In 2021, ISRO launched the Cartosat-2 satellite with 29 nanosatellites with 14 other countries on board the PSLV-C38 vehicle.
  • In 2021, GomSpace and SIGCOM collaborated on the FNR-funded MegaLEO project. MegaLEO will advance the state-of-the-art large satellite constellations that operate semi-autonomously by deciding and executing satellite and network operation configurations in space.

Segments covered in the Report:

The Nanosatellite and Microsatellite Market has been segmented based on Component, Type, Vertical, and region. Based on Component, the market is segmented into Hardware, Software & Data processing, Launch Services. Based on Type, market is segmented into Nanosatellites and Microsatellites. Based on Vertical, market is segmented into Government, Commercial, Defense.

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Key questions answered in this research report:

• • At what pace is global nanosatellite and microsatellite market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in nanosatellite and microsatellite market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global nanosatellite and microsatellite market?
  • Which component generated maximum revenues in 2020 and identify the most promising component during the forecast period?
  • What is the various type of global nanosatellite and microsatellite market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2028)	USD 6,321 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Type, By Vertical and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Planet Labs Inc., SpaceQuest Ltd., Spire Global Inc., Axelspace, Astrocast, Surrey Satellite Technology, Sierra Nevada Corporation, Millennium Space System, Ruag Space, Exolaunch, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Nanosatellite and Microsatellite Market by Component

• • Hardware
  • Software & Data processing
  • Launch Services

Global Nanosatellite and Microsatellite Market by Type

• • Nanosatellites
  • Microsatellites

Global Nanosatellite and Microsatellite Market by Vertical

• • Government
  • Commercial
  • Defense

Global Nanosatellite and Microsatellite Market by Region

• • North America Nanosatellite and Microsatellite Market (Option 1: As a part of the free 25% customization)
    • North America Nanosatellite and Microsatellite Market by Component
    • North America Nanosatellite and Microsatellite Market by Type
    • North America Nanosatellite and Microsatellite Market by Vertical
    • US Nanosatellite and Microsatellite Market All-Up
    • Canada Nanosatellite and Microsatellite Market All-Up
  • Europe Nanosatellite and Microsatellite Market (Option 2: As a part of the free 25% customization)
    • Europe Nanosatellite and Microsatellite Market by Component
    • Europe Nanosatellite and Microsatellite Market by Type
    • Europe Nanosatellite and Microsatellite Market by Vertical
    • UK Nanosatellite and Microsatellite Market All-Up
    • Germany Nanosatellite and Microsatellite Market All-Up
    • France Nanosatellite and Microsatellite Market All-Up
    • Spain Nanosatellite and Microsatellite Market All-Up
    • Rest of Europe Nanosatellite and Microsatellite Market All-Up
  • Asia-Pacific Nanosatellite and Microsatellite Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Nanosatellite and Microsatellite Market by Component
    • Asia-Pacific Nanosatellite and Microsatellite Market by Type
    • Asia-Pacific Nanosatellite and Microsatellite Market by Vertical
    • China Nanosatellite and Microsatellite Market All-Up
    • India Nanosatellite and Microsatellite Market All-Up
    • Japan Nanosatellite and Microsatellite Market All-Up
    • Rest of APAC Nanosatellite and Microsatellite Market All-Up
  • RoW Nanosatellite and Microsatellite Market (Option 4: As a part of the free 25% customization)
    • RoW Nanosatellite and Microsatellite Market by Component
    • RoW Nanosatellite and Microsatellite Market by Type
    • RoW Nanosatellite and Microsatellite Market by Vertical
    • Brazil Nanosatellite and Microsatellite Market All-Up
    • South Africa Nanosatellite and Microsatellite Market All-Up
    • Saudi Arabia Nanosatellite and Microsatellite Market All-Up
    • UAE Nanosatellite and Microsatellite Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Nanosatellite and Microsatellite Market All-Up

Major Players Operating in the Nanosatellite and Microsatellite market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Planet Labs Inc.
  • SpaceQuest Ltd.
  • Spire Global Inc.
  • Axelspace
  • Astrocast
  • Surrey Satellite Technology
  • Sierra Nevada Corporation
  • Millennium Space System
  • Ruag Space
  • Exolaunch