Nanosatellite and Microsatellite Market

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Nanosatellite and Microsatellite Market Research Report - Segmentation By Component (Software & Data Processing, Hardware, Launch Services, Space Services), Type (Nanosatellite, Microsatellite), Application (Communication, Scientific Research, Earth Observation and Remote Sensing, Technology Demonstration And Verification, Biological Experiments, Academic Training, Mapping And Navigation and Reconnaissance), and Region - Industry Forecast 2022 – 2027

Published: January, 2022

ID: 8328

Pages: 170

Nanosatellite and Microsatellite Market Size (2022 – 2027)

The Nanosatellite and Microsatellite Market was worth US$ 1.6 billion in 2021 and is projected to reach the valuation of US$ 3.83 billion by 2027 and is predicted to register a CAGR of 12% from 2022 to 2027.

A satellite is a piece of equipment or an object that is launched into orbit and moves around the planet collecting data. Space research, communication, and earth observation are the most common uses for nanosatellites and microsatellites. Nanosatellites and microsatellites are used in the defence and military sectors, as well as for commercial purposes. These satellites are less expensive and smaller than regular satellites. These satellites weigh less than 500 kg typically. While all such satellites are classified as "small," several classifications are employed based on their mass. Satellites can be created in modest sizes to save money on launch vehicles and construction costs.

Microsatellites and nanosatellites are used for a variety of reasons, including space research, communication, and business. Because of their quicker development cycles, lightweight properties, high capability of completing complicated computer workloads, and lower launch costs, such spacecraft are in high demand. Planet Labs, GOMSpace, and Sierra Nevada Corporation are among the significant players launch constellations of micro and nanosatellites on a regular basis to offer a wide range of satellite-based services.

MARKET GROWTH

The space industry is evolving toward a future in which enormous constellations of nanosatellites and microsatellites can provide a wide range of services over large geographic areas or across the globe. Biological experiments, agriculture, communication, navigation and mapping, education, scientific research, exploration, and earth observation are all applications for these satellites.

MARKET DRIVERS

Several billions of dollars have recently been invested in a new generation of low-altitude satellites orbiting the Earth. These LEO satellites improve connectivity between remote and inaccessible areas. The market for nanosatellites and microsatellites is driven by the demand for LEO-based services, the availability of funding, high-speed internet, the rise of governments in wealthy nations, and the need for low-cost broadband among individual consumers in developing countries. These market forces drive investments in LEO constellations based on smallsats.

The nanosatellite and microsatellite industry is predicted to grow due to factors such as tiny size and weight in comparison to traditional satellites, as well as increased manufacturing and launch of CubeSats.

Furthermore, manufacturers are able to aggressively develop SSLVs and capture a potential part of the nanosatellite industry due to low entry barriers and private and institutional support.

Because of their simple and quick manufacturing and design requirements, small satellites continue to see technical improvements. The inexpensive cost of these satellites has increased the number of missions that can be undertaken in orbit. Furthermore, small satellites can now incorporate cutting-edge technology like artificial intelligence (AI) and robotics thanks to the more straightforward design and development. Again, to boost signal frequency and transfer speeds, these satellites use Very High Frequency (VHF), Ultra High Frequency (UHF), and visible broadcasting technologies.

MARKET RESTRAINTS

Small satellites are currently limited in their launch possibilities, as they are frequently used as secondary payloads on rockets launching giant satellites or carrying goods to the International Space Station. These alternatives put constraints on-orbit destinations, integration and launch timetables, and subsystem flexibility in tiny spacecraft. Some firms serve as launch brokers, buying complete launches from companies like SpaceX and the Indian Space Research Organization and then selling slots to small satellite operators as part of their manufacture and turnkey operations contracts.

NANOSATELLITE AND MICROSATELLITE MARKET REPORT COVERAGE:

REPORT METRIC	DETAILS
Market Size Available	2021 – 2027
Base Year	2021
Forecast Period	2022 - 2027
CAGR	12%
Segments Covered	By Component, Type, Application, and Region
Various Analyses Covered	Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Regions Covered	North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled	GomSpace, Lockheed Martin, L3 Harris, Sierra Nevada Corporation, AAC Clyde Space, Planet Labs, Tyvak, NanoAvionics, Innovative Solutions In Space, SpaceQuest, and Others.

Market Segmentation

Global Nanosatellite and Microsatellite Market - By Component:

Hardware
Software & Data Processing
Launch Services
Space Services

During the projected period, the Nanosatellite and Microsatellite Market's Software and Data Processing segment are expected to increase at a faster rate. This section includes revenue from various software packages and data processing suites that are necessary at the ground station for accepting and extracting meaningful information from raw satellite data. Revenues from onboard nanosatellite and microsatellite software are included.

Global Nanosatellite and Microsatellite Market - By Type:

Nanosatellite
Microsatellite

The market is divided into Nanosatellite and Microsatellite segments based on type. Traditional satellites are more expensive to manufacture and launch into space than nanosatellites. They also provide a cost-effective training and research platform, particularly for countries where hefty investments in the space industry can stymie satellite development and launch.

Global Nanosatellite and Microsatellite Market - By Application:

Communication
Earth Observation and Remote Sensing
Scientific Research
Biological Experiments
Technology Demonstration and Verification
Academic Training
Mapping And Navigation
Reconnaissance

Communication, Scientific Research, Biological Experiments, Earth Observation and Remote Sensing, Technology Demonstration and Verification, Academic Training, Mapping and Navigation, and Reconnaissance are the market segments based on Application. Large amounts of data obtained from Earth observation satellites are becoming increasingly important for a variety of applications, including urban planning, agriculture, water resources, mineral exploration, forestry, disaster management, and ocean resources.

Global Nanosatellite and Microsatellite Market - By Region:

North America
Latin America
Asia Pacific
Middle East & Africa
Europe

During the projected period, North American region is expected to have the most significant market share. The presence of major companies such as GomSpace and Lockheed Martin will help to drive market expansion by incorporating technology advancements into product portfolios. Increase in research and development expenditures by businesses would boost market growth across the region.

As economies in the region, such as Japan and India, continue to actively launch tiny satellites for communication and navigation applications, the Asia Pacific is expected to emerge as the fastest-growing regional market. To fulfil the demand for miniaturisation, Japan is researching tactics to tap into the need for compact satellites and aircraft. Furthermore, countries like South Korea and Singapore have entered the smallsat production market in order to launch their satellites into orbits, regardless of scale.

Europe is one of the world's most rapidly developing areas. The number of launch services, software, and data processing in the region is steadily increasing as technology advances.

The Middle East area is fast developing new satellites employing small satellite technology, which will lower the mission cost of the satellite. In the space sector, the latest technology would provide new opportunities and competition. More private enterprises and governments are partnering with research universities to advance space innovation (launch new satellites into orbit), resulting in market growth and development in the region.

Key Players

GomSpace
Lockheed Martin
L3 Harris
Sierra Nevada Corporation
AAC Clyde Space
Planet Labs
Tyvak
NanoAvionics
Innovative Solutions In Space
SpaceQuest

Recent Development in Global Nanosatellite and Microsatellite Market:

With the MP42, NanoAvionics enters the microsatellite market with a commercially available modular microsatellite bus.
NanoAvionics' microsatellite buses are the most recent addition to the company's constellation-focused end-to-end smallsat mission infrastructure, which includes mission design, manufacture, launch brokering, ground segment, and satellite operations.

1. Introduction

1.1 Market Definition

1.2 Scope of the report

1.3 Study Assumptions

1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology

2.1 Analysis Design

2.2 Research Phases

2.2.1 Secondary Research

2.2.2 Primary Research

2.2.3 Data Modelling

2.2.4 Expert Validation

2.3 Study Timeline

3. Report Overview

3.1 Executive Summary

3.2 Key Inferencees

4. Market Dynamics

4.1 Impact Analysis

4.1.1 Drivers

4.1.2 Restaints

4.1.3 Opportunities

4.2 Regulatory Environment

4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis

5.1 Key Player Benchmarking

5.1.1 Market share analysis

5.1.2 Products/Service

5.1.3 Regional Presence

5.2 Mergers & Acquistion Landscape

5.3 Joint Ventures & Collaborations

6. Market Segmentation

6.1 Nanosatellite and Microsatellite Market , By Component

6.1.1 Software & Data Processing

6.1.2 Hardware

6.1.3 Launch Services

6.1.4 Space Services

6.1.5 Market Size Estimations & Forecasts (2022-2027)

6.1.6 Y-o-Y Growth Rate Analysis

6.1.7 Market Attractiveness Index

6.2 Nanosatellite and Microsatellite Market , By Type

6.2.1 Nanosatellite

6.2.2 Microsatellite

6.2.3 Market Size Estimations & Forecasts (2022-2027)

6.2.4 Y-o-Y Growth Rate Analysis

6.2.5 Market Attractiveness Index

6.3 Nanosatellite and Microsatellite Market , By Application

6.3.1 Communication

6.3.2 Scientific Research

6.3.3 Earth Observation and Remote Sensing

6.3.4 Technology Demonstration And Verification

6.3.5 Biological Experiments

6.3.6 Academic Training

6.3.7 Mapping And Navigation

6.3.8 Reconnaissance

6.3.9 Market Size Estimations & Forecasts (2022-2027)

6.3.10 Y-o-Y Growth Rate Analysis

6.3.11 Market Attractiveness Index

7. Geographical Landscape

7.1 Global Nanosatellite and Microsatellite Market , by Region

7.2 North America - Market Analysis (2022-2027)

7.2.1 By Country

7.2.1.1 USA

7.2.1.2 Canada

7.2.2 By Component

7.2.3 By Type

7.2.4 By Application

7.3 Europe

7.3.1 By Country

7.3.1.1 UK

7.3.1.2 France

7.3.1.3 Germany

7.3.1.4 Spain

7.3.1.5 Italy

7.3.1.6 Rest of Europe

7.3.2 By Component

7.3.3 By Type

7.3.4 By Application

7.4 Asia Pacific

7.4.1 By Country

7.4.1.1 China

7.4.1.2 India

7.4.1.3 Japan

7.4.1.4 South Korea

7.4.1.5 South East Asia

7.4.1.6 Australia & NZ

7.4.1.7 Rest of Asia-Pacific

7.4.2 By Component

7.4.3 By Type

7.4.4 By Application

7.5 Latin America

7.5.1 By Country

7.5.1.1 Brazil

7.5.1.2 Argentina

7.5.1.3 Mexico

7.5.1.4 Rest of Latin America

7.5.2 By Component

7.5.3 By Type

7.5.4 By Application

7.6 Middle East and Africa

7.6.1 By Country

7.6.1.1 Middle East

7.6.1.2 Africa

7.6.2 By Component

7.6.3 By Type

7.6.4 By Application

8. Key Player Analysis

8.1 GomSpace

8.1.1 Business Description

8.1.2 Products/Service

8.1.3 Financials

8.1.4 SWOT Analysis

8.1.5 Recent Developments

8.1.6 Analyst Overview

8.2 Lockheed Martin

8.3 L3 Harris

8.4 Sierra Nevada Corporation

8.5 AAC Clyde Space

8.6 Planet Labs

8.7 Tyvak

8.8 NanoAvionics

8.9 Innovative Solutions In Space

8.10 SpaceQuest

9. Market Outlook & Investment Opportunities

Appendix

List of Tables

List of Figures

Global Nanosatellite and Microsatellite Market By Region, From 2022-2027 ( USD Billion )
Global Nanosatellite and Microsatellite Market By Component, From 2022-2027 ( USD Billion )
Global Software & Data Processing Market By Region, From 2022-2027 ( USD Billion )
Global Hardware Market By Region, From 2022-2027 ( USD Billion )
Global Launch Services Market By Region, From 2022-2027 ( USD Billion )
Global Space Services Market By Region, From 2022-2027 ( USD Billion )
Global Nanosatellite and Microsatellite Market By Type, From 2022-2027 ( USD Billion )
Global Nanosatellite Market By Region, From 2022-2027 ( USD Billion )
Global Microsatellite Market By Region, From 2022-2027 ( USD Billion )
Global Nanosatellite and Microsatellite Market By Application, From 2022-2027 ( USD Billion )
Global Communication Market By Region, From 2022-2027 ( USD Billion )
Global Scientific Research Market By Region, From 2022-2027 ( USD Billion )
Global Earth Observation and Remote Sensing Market By Region, From 2022-2027 ( USD Billion )
Global Technology Demonstration And Verification Market By Region, From 2022-2027 ( USD Billion )
Global Biological Experiments Market By Region, From 2022-2027 ( USD Billion )
Global Academic Training Market By Region, From 2022-2027 ( USD Billion )
Global Mapping And Navigation Market By Region, From 2022-2027 ( USD Billion )
Global Reconnaissance Market By Region, From 2022-2027 ( USD Billion )