Nanosatellite and Microsatellite Market Growth Report
The global nanosatellite and microsatellite market value is projected to reach $2.26 billion by 2026, according to a market intelligence study released by BIS Research. The study also highlights that the market value is set to witness a CAGR of 24.86% between 2020 and 2026.
Over the past years, the increasing demand for nano and microsatellite constellations for LEO has risen across various end users such as commercial, defense, academic, and government."
Nilopal Ojha, Lead Analyst at BIS Research.
The comprehensive research study of the global nanosatellite and microsatellite market covers:
Elaborated sections focused on different types of applications, components, orbit, mass, and end users
company profiling for more than 15 companies
Competitive benchmarking of key players operating in the market
A detailed global and regional market share analysis, including the scrutiny of more than 10 countries
A detailed analysis of the CubeSat market scenario for the nanosatellite and microsatellite market based on dimensions
Detailed launch vehicle mapping with satellite, orbit, and launch Site during 2020-2026
The BIS Research study indicates that the increasing demand for Low Earth Orbit (LEO)-based satellites, ongoing advancements of electronic technology for nanosatellites and microsatellites, and the rising research and development activities for cost-effective satellites are fueling the growth of the market.
Along with the drivers, the study highlights opportunities in the market, such as demand for the Internet of Things (IoT) and Machine to Machine (M2M) small satellite networks and the increased utilization of COTS components, which allows key manufacturers to expand their operations among different customers.
To gain a holistic view of the market, data from various segments have been analyzed. These segments include application, mass, orbit, component, end user, and region. The segments are further categorized into sub-segments to get an in-depth analysis of the study.
"Over the past years, the increasing demand for nano and microsatellite constellations for LEO has risen across various end users such as commercial, defense, academic, and government," said Nilopal Ojha, Lead Analyst at BIS Research. "This is due to the low cost associated with their development. This will push the key manufacturers to develop satellites with more advanced technologies. Moreover, the rising investments by government and commercial companies for advancements in electronic satellite equipment are expected to drive the market."
Key insights and data triangulation are done from in-depth interviews with leaders of the leading companies and market participants. The key players profiled in the report include Axelspace Corporation, Astrocast, BlackSky Global, Capella Space, GomSpace, ICEYE, Kepler Communication, Lockheed Martin, Nano Avionics, OneWeb, Planet Labs, Planet IQ, Satellogic, Spire Global, and Tyak Nano Satellite.
The report also offers strategic recommendations that can help the companies to track various trends, technologies, and products that are changing the market dynamics.
(Source: BIS Research news release. Image from file)