The Global Market for CubeSat (2018-2023): Anticipated to Register a CAGR of 19.87%, Driven by New Application Areas
DUBLIN, Dec. 13, 2018 /PRNewswire/ --
The "CubeSat Market by Application (Earth Observation & Traffic Monitoring, Communication, Science & Technology and Education), End User (Government & Military, Commercial, Non-profit Organizations), Size, Subsystem, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global CubeSat market is projected to grow from USD 151.5 million in 2018 to USD 375 million by 2023, at a CAGR of 19.87% from 2018 to 2023.
Some of the factors that are expected to fuel the growth of the CubeSat market are increasing focus on reducing mission costs as well as the rise in demand for CubeSats in applications related to earth observation, communication, science, and technology.
Various countries have been focusing on developing CubeSats, owing to their low cost and short development time made possible with the use of proven standard equipment and off-the-shelf components.
Based on size, the 3U segment is estimated to account for the largest share of the CubeSat market in 2018. 3U CubeSats can be used in various applications such as Earth observation & traffic monitoring, meteorology, science & technology and education, research & exploration, mapping & navigation, and surveillance & security. 3U CubeSats can carry a larger payload in comparison to 2U CubeSats and are preferred for missions requiring multiple applications.
Its larger mass prolongs its life as the harsh space weather and thermal extremities take longer to destroy the CubeSat. Larger batteries, solar panels, and better propulsion systems have helped 3U CubeSats to be used on longer missions and have precision movement.
Based on size, the Earth observation & traffic monitoring segment is estimated to account for the largest share of the CubeSat market in 2018. The high mobility of CubeSats due to their compactness makes them ideal for Earth observation, including tracking of various weather-related phenomena.
The CubeSat market in North America is expected to witness substantial growth during the forecast period due to the number of CubeSats launched every year and the increasing demand for satellite services from satellite operators and government agencies. The growing use of CubeSats for Earth observation services and in government & military applications are some of the factors driving the market in the US, China, Japan, and India.
Key players in the CubeSat market are GomSpace (Sweden), Space Systems Loral (US), EnduroSat (Bulgaria), Clyde Space (UK), Planet Labs (US), Pumpkin Space Systems (US), Nano Avionics (Lithuania), and CU Aerospace (US). These companies provide CubeSats across North America, Europe, and the Asia Pacific region.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Markets Covered
1.2.2 Years Considered for the Study
1.3 Currency & Pricing
1.4 Limitations
1.5 Market Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the CubeSat Market
4.2 CubeSat Market, By Size
4.3 CubeSat Market, By Application
4.4 CubeSat Market for Commercial End User, By Type
4.5 CubeSat Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 New Application Areas for CubeSats
5.2.1.2 Economical Compared to Conventional Satellites
5.2.2 Restraints
5.2.2.1 Lack of Launch Vehicles
5.2.3 Opportunities
5.2.3.1 Development of Advanced Technologies
5.2.3.2 Technological Advancements in CubeSat Batteries
5.2.3.3 Testing of New Technologies
5.2.4 Challenges
5.2.4.1 Communication Issues
5.2.4.2 Addition to Space Debris
5.2.4.3 Rigid Design Structure
6 Industry Trends
6.1 Introduction
6.2 CubeSat Electric Power System (EPS) Design
6.3 Space Industry Supply Chain
6.3.1 Overview of Satellite Supply Chain Elements From Contractors to Material Suppliers
6.3.2 Risk Areas in CubeSat Supply Chain
6.4 Technology Trends
6.4.1 State-Of-The-Art CubeSat Technologies
6.4.2 Distributed Electric Power System (EPS) in CubeSat Applications
6.4.3 Hyper-Spectral and Multi-Spectral Imaging
6.4.4 Energy Storage (Primary & Secondary Batteries)
6.4.5 Development of CubeSat Constellations to Enhance Communication
6.4.6 Development of CubeSats Using Additive Manufacturing Process
6.5 Emerging Trends
6.5.1 Technical Evolution in CubeSats
6.5.2 Technological Advancements in Earth Observation Services
6.6 Nanosatellite Crowdfunding Campaigns
6.6.1 Innovations & Patent Registrations
7 CubeSat Market, By Size
7.1 Introduction
7.2 0.25U - 1U (Up to 2.0 Kg)
7.2.1 Key Focus on Developing 0.25U to 1U CubeSat for Communication
7.3 2U (2.0 Kg to 4.0 Kg)
7.3.1 2U Cubsats are Used for Testing Emerging Technologies
7.4 3U (4.0 Kg to 6.0 Kg)
7.4.1 Key Focus on Developing 3U CubeSats for Earth Observation and Traffic Monitoing
7.5 6U (6.0 Kg to 12.0 Kg)
7.5.1 Increasing Demand for 6U Used in Space Science Mission
7.6 12U (12.0 Kg Above)
7.6.1 Increasing Demand for 12U Used in Deep Space Mission
7.7 Above 12U
7.7.1 Above 12U Used for Earth Observation, Communication, Science and Technology
8 CubeSat Market, By Application
8.1 Introduction
8.2 Earth Observation & Traffic Monitoring
8.2.1 Increasing Demand for Real Time Data and Earth Imaging for Commercial Sector
8.3 Meteorology
8.3.1 Demand for Weather Forecasting Services are Driving the Growth of Meteorology Market
8.4 Space Observation
8.4.1 Rising Demand for Lower Earth Orbit (LEO)-Based Services
8.5 Communication
8.5.1 Increasing Use of CubeSats for Communication Purpose
8.6 Science & Technology and Education
8.6.1 Demand for CubeSats has Increased Due to Its Application in Testing New Technologies
9 CubeSat Market, By Subsystem
9.1 Introduction
9.1.1 Structures
9.1.1.1 Standardized Structure Allows New Entrants Into the Market
9.1.2 Payloads
9.1.2.1 Miniaturization of Payloads Broadens Scope for CubeSat Applications
9.1.3 Solar Panels& Antenna Systems
9.1.3.1 Repalce With: Development of New Solar Panels With Inbuilt Antenna Enhances the Capabilities of CubeSats
9.1.4 Electrical Power Systems (EPS)
9.1.4.1 Advancement in Battery Technologies
9.1.5 Command & Data Handling (C&DH)
9.1.5.1 Advantage of Open Source Software and Hardware Provides an Easy Entry for Newspace Companies
9.1.6 Attitude Determination & Control Systems
9.1.6.1 Launch of CubeSats Into Deep Space Requires Advanced Attitude Determination & Control Systems
9.1.7 Propulsion Systems
9.1.7.1 High Efficiency and Technological Advancements in Propulsion Systems
9.1.8 Others
10 CubeSat Market, By End User
10.1 Introduction
10.2 Government & Military
10.2.1 CubeSats are Used for Border Patrolling By Providing Real-Time Data to Military Intelligence Units
10.2.2 Defense Organizations
10.2.2.1 Increasing Demand for Real-Time Data and Imaging
10.2.3 Space Agencies
10.2.3.1 Use of CubeSats for Preliminary Phases of Space Missions
10.3 Commercial
10.3.1 Increasing Involvement of Private Players in the Global Space Industry
10.3.2 Energy & Power
10.3.2.1 Demand for Monitoring Structural Integrity of Nuclear Power Stations
10.3.3 Agriculture
10.3.3.1 Increasing Demand for Nvdi Grids and Maps
10.3.4 Environmental Protection
10.3.4.1 CubeSats are Used to Improve Disaster Relief and Monitor Crop Yield
10.3.5 Maritime
10.3.5.1 CubeSats are Used to Logistics Tracking, Fleet Management and Route Planning
10.3.6 Others
10.4 Non-Profit Organizations
10.4.1 Provide Practical Experience to Students
11 Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 US Uses Most of the CubeSat's for Earth Observation and Traffic Monitoring Applications
11.2.2 Canada
11.2.2.1 Canadian Space Agency (CSA) Had Selected 15 University Teams to Participate in the Canadian CubeSat Project
11.3 Europe
11.3.1 Russia
11.3.1.1 Russia is Developing CubeSats for Advanced Space Technology Demonstration Missions
11.3.2 UK
11.3.2.1 Earth Observation has Been One of the Preferred Application Areas for CubeSats in the Uk
11.3.3 France
11.3.3.1 France's National Investment Program in the Space Sector has Enabled Private Players to Develop Reliable Communication Solutions for CubeSats
11.3.4 Germany
11.3.4.1 German Orbital Systems is Developing CubeSat's for Communication Application
11.3.5 Italy
11.3.5.1 Italy's Earth Observation & Traffic Monitoring Segment is Estimated to Have the Highest CAGR
11.3.6 Rest of Europe (RoE)
11.3.6.1 Increasing Demand of CubeSat's for Earth Observation & Traffic Monitoring Application
11.4 Asia Pacific
11.4.1 China
11.4.1.1 China is A Leading Manufacturer of Military and Commercial Satellite in the World
11.4.2 Japan
11.4.2.1 Japan is One of the Leading Countries in the Asia Pacific Working Actively on Developing Nanosatellites
11.4.3 India
11.4.3.1 Isro is Focusing on Developing Nanosatellites Which Will Drive the Growth of the CubeSat Market in India
11.4.4 South Korea
11.4.4.1 South Korea is Making Efficient Use of CubeSat's in Their Rapidly Growing Defense Sector
11.4.5 Rest of Asia Pacific
11.4.5.1 The Science & Technology and Education Segment is Expected to Grow at the Highest CAGR During the Forecast Period
11.5 Rest of the World (RoW)
11.5.1 Middle East
11.5.1.1 The Middle East is Using Earth Observation and Communication Satellites to Advance Their Economy
11.5.2 Latin America
11.5.2.1 Lower Cost of CubeSat's has Allowed Latin American Countries to Incorporate CubeSat's in the Various Industries
11.5.3 South Africa
11.5.3.1 South Africa is Developing Extremely High Resolution Hyper-Spectral Cameras for CubeSat's
12 Competitive Landscape
12.1 Introduction
12.2 Competitive Analysis
12.3 Market Ranking Analysis
12.4 Competitive Scenario
12.4.1 Contracts
12.4.2 Partnerships/Collaborations
12.4.3 Acquisitions
12.4.4 Expansions
13 Company Profiles
13.1 Gomspace
13.2 Nanoavionics
13.3 Sierra Nevada Corporation
13.4 Clyde Space
13.5 Surrey Satellite Technology
13.6 Adcole Maryland Aerospace
13.7 Tyvak Nano-Satellite Systems
13.8 CU Aerospace
13.9 Busek Co.
13.10 Space Systems Loral (SSL)
13.11 Endurosat
13.12 Pumpkin Space Systems
13.13 Planet Labs
13.14 Harris Corporation
13.15 OHB SE
13.16 Other Companies
13.16.1 Innovative Solutions in Space (ISIS)
13.16.2 Capella Space
13.16.3 The Boeing Company
13.16.4 Lockheed Martin Corporation
13.16.5 Blue Canyon Technologies
13.16.6 Kubos Corporation
13.16.7 Utias Space Flight Laboratory (SFL)
13.16.8 Berlin Space Technologies (BST)
13.16.9 DHV Technology
13.16.10 G.A.U.S.S.
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