Nanosatellites and Microsatellites Market by Component (Data Processing, Hardware, Launch Services, and Software) by 2027
Nanosatellites and microsatellites are miniature in size and are primarily used for applications such as space, Earth observation, and communications.
PORTLAND, OR, USA, Nov 25, 2021 /EINPresswire.com/ – Nanosatellites and microsatellites are miniature in size and are primarily used for applications such as space research, Earth observation, and communication. These are widely used by the military and defense sector and for commercial purposes such as surveillance. In addition, these satellites are mainly used as research needs for large-scale scientific objectives. Nanosatellites are typically 1 to 10 kg in size and weight, and microsatellites are 10 to 100 kg in size and weight. In addition, their economic advantages and small size are expected to drive the global nanosatellites and microsatellites market. In the years to come, these small satellites are expected to benefit from a positive impact of global communication systems on the telecommunications sector, thereby improving transmission capacity.
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Major market players:
The main players analyzed are Astro Digital Inc., Clyde Space Ltd, ELSE SA, GomSpace, Helios Wire, Kepler Communication, Planet Labs Inc., Planetary Resources Inc., RUAG Group and Sierra Nevada Corporation.
Increasing demand for small satellites in Earth observation applications and increasing demand for satellite research activities are major factors that are expected to drive the growth of the global market during the period of forecast. Moreover, increasing investment in space technologies in various regions is also a factor which is expected to drive the growth of nanosatellites and microsatellites market. Moreover, the increase in R&D and development of small satellites, especially in developing regions, is another factor which is expected to propel the market growth during the forecast period. However, the high costs associated with research and postponement of space activities are challenges which are expected to hamper the growth of the market to some extent. On the contrary, the growth in demand for satellite imagery from non-governmental actors may be opportunistic for the growth of the nanosatellites and microsatellites market.
Some of the major space programs around the world are planning various global investments, especially with the United States, which accounts for around 74%. For example, in 2017, the Euroconsult published a report on the outlook for space exploration, which indicates that across the world various government entities are investing in space exploration with a value of over 14.6 billion. of dollars, an increase of 6% compared to 2016. Thus, the increase in global spending over the past five years should further help nanosatellite programs in many countries, which would invest in exploration of the area. Although there are limited budgetary positions in developing regions, over the past 10 years, 19 planetary exploration missions have been launched by countries such as the United States, the European Space Agency, Russia, China, Japan and India.
The manufacture of spacecraft is currently a one-off, labor-intensive craft mission. The major objective of most space organizations is to reduce the costs and delays associated with research or space services. Many space organizations have focused on self-manufacture, which has further reduced costs and allowed commercialization. Technological or technical advances directed towards the mass production of space subsystems and based on distributed systems and services come at a high cost. This reduces spacecraft life cycle costs and turnaround times, without reducing overall performance. Additionally, new design and production paradigms, prefabrication, and modularity are expected to reduce manufacturing costs, but may still lack quality.
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Main advantages of the report:
â¢ This study presents the analytical description of the global nanosatellite and microsatellite industry along with current trends and future estimates to determine impending pockets of investment.
â¢ The report presents information related to key drivers, restraints, and opportunities, along with a detailed analysis of the global nanosatellites and microsatellites market share.
â¢ The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario of the global market.
â¢ Porter’s Five Forces Analysis illustrates the power of buyers and suppliers in the nanosatellites and microsatellites market.
â¢ The report provides a detailed analysis of the Nanosatellites and Microsatellites market based on the current and future competitive intensity of the market.
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