The global nano satellite market generated $143.7 million in 2017 and is estimated to grow at a CAGR of 13.43% during 2018-2023
LONDON, Nov. 7, 2018 /PRNewswire/ -- Global Nano Satellite Market is Projected to Reach $356.1 million by 2023
The nano satellite market is experiencing an advanced rate of growth over the past couple of years, due to the increasing demand of satellite applications in commercial, defense and military, and government end users.With the high scale of growth of the nano satellite industry, a new range of programs is being carried out to develop latest nano satellite technologies.
Download the full report: https://www.reportbuyer.com/product/5612792
The growing demand of small satellite constellations for satellite applications, such as earth monitoring, remote sensing and communication, is the major factor driving the growth of nano satellite market.Moreover, continuous advancements in electronic satellite equipment, for instance, 3D printed electronic circuitry for nano satellite equipment, are expected to boost the growth of the market during the forecast period, 2018-2023.
In terms of revenue, nano satellite market generated $143.7 million in the year 2017.
According to BIS Research analysis, the global nano satellite market generated $143.7 million in 2017 and is estimated to grow at a CAGR of 13.43% during 2018-2023. North America dominated the global nano satellite market in 2017 with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2023.
Following points provide a detailed description of the report content and the topics covered in the report:
• This report identifies the global nano satellite market under different segments such as end user, mass, subsystem, application, and region.
• It examines the prime demand-side factors, which affect the growth of the market, and the current and future trends, market drivers, restraints, and challenges prevalent in the global nano satellite market.
• The report also highlights the value chain of the industry.
• Detailed competitive analysis has been included in this report which focuses on the ¬key market developments and strategies followed by the top players in the market. Additionally, the competitive benchmarking of the prominent companies has been included in the existing study, which analyzes the competitive strength of the players in the global nano satellite market.
• The market for different end user such as defense, academic, commercial, government, and non-profit, has been estimated and analyzed.
• Different applications, such as communication, earth observation and remote sensing, space exploration, technology development, and demonstration, have been estimated and analyzed in the report.
• The market analysis depending on the mass 1kg-3kg, 4kg-6kg, and 7kg-10kg, has been estimated and analyzed in the report.
• The market for different subsystem such as payload, structure, telecommunication, on-board computer, power system, attitude control system, and propulsion system, has been estimated and analyzed.
• The global nano satellite market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest-of-the-World.
• The study provides detailed analysis of the 15 key players in the global nano satellite market, including: GomSpace A/S, OHB SE, The Boeing Company, Ball Corporation, Israel Aerospace Indsutries Ltd. , Lockheed Martin Corporation, Northrop Grummen Corporation, QinetiQ Group Plc, NanoAvionika, LLC, Space Systems/Loral, LLC (SSL), and Tyvak Nano-Satellite Systems, Inc., in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.
Executive Summary
The governments and space organizations worldwide are continuously increasing their funding in the space industry to develop efficient and cost-effective satellite solutions.Currently, the space industry is at the cusp of a major revolution, as more than 3,600 small satellites, including nano, micro, and pico, are expected to be launched over the course of next ten years.
Nano satellites, in particular, are emerging as a promising market in the small satellite industry. According to National Aeronautics and Space Administration (NASA), nano satellites, also known as NanoSat, range from 1-10 kg mass.
The global nano satellite market is driven by several factors, wherein, the leading ones are advancement in the satellite miniaturization, increase in capability of electronic technology, and increase in demand for small satellite constellation.As more nations are launching their nano satellite constellations, demand for the nano satellite is anticipated to grow over the coming years.
Globally, defense forces have been showing interest in potential advantages of using nano satellite constellations for certain military applications.These systems can replace one large satellite with a cluster of nano satellites in a single orbital location.
It is expected that once the technology becomes available, nano satellite constellation systems will perform better, cost less to launch, and operate equivalent to conventional satellite systems.
Some of the key players in the nano satellite industry are Ball Corporation, Clyde Space Ltd., Airbus S.A.S., Deep Space Industries, Inc., Innovative Solutions In Space BV, Interorbital Systems, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, NanoAvionika, LLC, Northrop Grumman Corporation, OHB SE, Planet Labs, Inc., QinetiQ Group PLC, Terra Bella, The Boeing Company, and Tyvak Inc. These companies are aiming for a wide range of product launches and collaborations to expand their operations and compete in the market. Apart from these, several companies, such as OneWeb, NanoRacks LLC, Satellogic, Kepler Communications, Aistech Space, Aerial Maritime, and Sky and Space Global, are also emerging in the market. These companies are expected to drive huge growth in the market during the forecast period, 2018-2023.
The market reported a revenue of $143.7 million in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2023. The global nano satellite market has been segmented into five end-users: academic, commercial, government, defense, and non-profit organization. The commercial end-user acquired the largest share; however, non-profit organization end-user are expected to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the global nano satellite market is also classified depending upon the applications, such as communication, earth observation and remote sensing, space exploration, and technology development and demonstration. Earth observation and remote sensing reported the highest revenue in 2017, however, communication is estimated to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the nano satellite market has also been segmented based on mass (1-3kg, 4-6kg, and 7-10kg categories) and subsystem (payload, structure, telecommunication, on-board computer, power system, attitude control system, and propulsion system).
North America accounted for the highest share of the market in 2017, owing to the maximum number of nano satellite launches by NASA (U.S.) and American entrepreneurs have made considerable amount of transformational developments in the region to explore space by deploying cost-effective small satellite constellations. In addition, RoW is expected to witness the highest growth during the forecast period, 2018-2023, mainly driven by continued efforts of the respective governments in development of satellite technologies to transform the national economy and strengthen security.
Countries Covered
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Russia
• Denmark
• Rest-of-Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest-of-Asia-Pacific
• Rest-of-the-World
• Middle East
• Latin America
• Africa
Download the full report: https://www.reportbuyer.com/product/5612792
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article