Market Research Report
Nanosatellite and Microsatellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||945240|
|Published||Content info||114 Pages
Delivery time: 2-3 business days
|Nanosatellite and Microsatellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: June 18, 2020||Content info: 114 Pages||
The global nanosatellite and microsatellite market is currently witnessing robust growth. Nanosatellites and microsatellites (NaM) refer to miniaturized artificial satellites that weigh between 1 to 10 kilograms. They circle the earth in a polar (circular or elliptical) orbit and are usually launched at low altitudes. They travel at high speeds and offer optimum solutions for communications, remote sensing and land observations. These satellites consist of various hardware, software and data processing devices that are also used for geographical mapping, navigation and scientific research. The data obtained from these satellites is processed and used for improving water management and carrying out relief and defense operations.
Significant growth in the aeronautic and satellite industry is one of the key factors driving the growth of the market. Furthermore, advancements in the miniaturization technologies across industries are also providing a boost to the market growth. NaMs are increasingly being utilized across the civil, commercial and defense sectors to conduct low-cost space missions, including geolocation, signal monitoring and communications. Various technological advancements, such as the integration of these satellites with artificial intelligence (AI), robotics and the Internet of Things (IoT) is acting as another growth-inducing factor. These technologies, along with Very High Frequency (VHF), Ultra High Frequency (UHF) and visible transmission technologies, aid in increasing signal frequencies and overall data transfer speeds between the satellite and the ground stations. Other factors, including the deployment of solar panels and star tracker technologies, along with extensive research and development (R&D) activities in the field of space science, are projected to drive the market further. Looking forward, IMARC Group expects the market to register a CAGR of 18% during 2020-2025.