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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Nanosatellite and Microsatellite Market Trends
Nanosatellites and microsatellites are types of miniature satellites that weigh less than 100 kg and are more affordable compared to conventional satellites. Some of their common applications include space research, communication, navigation, observation, and remote sensing, among others.
- The burgeoning popularity of CubeSats, a class of miniature satellites, which has low production time and cost and provides a range of services for different organisations and individuals, is one of the key trends of nanosatellite and microsatellite market.
- Increased usage of commercial off-the-shelf components (COTS), which are cost-effective and facilitate faster development of micro and nanosatellites, is another crucial trend aiding the market expansion.
- The rising trend of sustainability has led satellite providers to adopt eco-friendly satellite manufacturing methods as well as meet the conventional guidelines set by governments to prevent micro and nano satellites from becoming space debris in the future.
- Growing collaborations and partnerships between leading technology companies and market players for the integration of high-end technology into satellite products and providing promising business prospects also contribute to the nanosatellite and microsatellite market value.
Nanosatellite and Microsatellite Market Report Snapshots
Nanosatellite and Microsatellite Market Size
Nanosatellite and Microsatellite Market Trends
Nanosatellite and Microsatellite Market Share
Nanosatellite and Microsatellite Companies
Nanosatellite and Microsatellite Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.09 billion.
The market is projected to grow at a CAGR of 18.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 14.40 billion by 2032.
The major market drivers are the growing trend of miniaturisation of satellites, rising demand for satellite data, and increased funding for space research by governments.
The key trends of the market include the burgeoning popularity of CubeSats, increased usage of commercial off-the-shelf components (COTS) in micro and nanosatellites, and the rising trend of sustainability.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Different components are solution and services.
The key players in the market are GomSpace Group AB, Kongsberg Gruppen ASA (NanoAvionics), Axelspace Corporation, Sierra Nevada Corporation, Terran Orbital Corporation (Tyvak International), AAC Clyde Space AB, Innovative Solutions In Space B.V. (ISIS), OHB SE, Surrey Satellite Technology Ltd. (SSTL), and EXOLAUNCH GmbH, among others.
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30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124