Market Research Report
Nanosatellite and Microsatellite Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
|Published by||Transparency Market Research||Product code||367374|
|Published||Content info||117 Pages
Delivery time: 1-2 business days
|Nanosatellite and Microsatellite Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024|
|Published: July 13, 2016||Content info: 117 Pages||
The increasingly competitive nanosatellite and microsatellite market has been witnessing heavy investments in research and development from private as well as government organizations. The entry of several new players has also been observed in the recent past, which is indicative of the rising potential this market possesses. The projected launch of nanosatellites and microsatellites in the coming years is also expected to add to this potential.
The demand for nanosatellites and microsatellites stems from various industry sectors, including military and defense, education and scientific research, commercial, and navigation and mapping. Given the capital intensive nature of large satellites, nanosatellites and microsatellites are the perfect alternative and serve a number of needs in the aforementioned sectors. This growing demand is projected to spur the market to expand at a strong 12.1% CAGR from 2016 to 2024, with the opportunity expected to be worth US$2.2 bn by the end of the forecast period.
Nanosatellites and microsatellites find application in scientific research, communication, navigation and mapping, power, reconnaissance, and others including Earth observation, biological experiments, and remote sensing. In 2015, communications held the dominant share in the market. Defense organizations have been launching communication nanosatellites and microsatellites to provide communication signals to soldiers stationed in remote locations or in dense forests. A number of companies in the telecom sector are also taking various initiatives to launch constellations of nanosatellites and microsatellites to offer their users faster internet services and additional bandwidth. Applications such as remote sensing and Earth observation are likely to gain momentum in the coming years.
The global market for nanosatellites and microsatellites has been geographically segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In 2015, North America accounted for the largest share in the nanosatellite and microsatellite market, with the U.S. emerging as the leading contributor. This can be attributed to advanced technologies facilitating space research in the country and the presence of established space research agencies and universities. In addition, commercial investments and government funding toward space activities have boosted the development of nanosatellites and microsatellites in the region. The nanosatellite and microsatellite market in Canada is anticipated to expand at a fast pace in the coming years thanks to efforts from the Canada Space Agency.
Asia Pacific is one of the most lucrative markets for nanosatellites and microsatellites. Technologically advanced countries such as China and Japan have significantly contributed to the development of nanosatellites and microsatellites in the recent past. Moreover, the shifting focus toward R&D and the continuous development of network infrastructure in Philippines, India, Australia, and Indonesia are likely to give the APAC market a major boost in the coming years. The urgent need for more effective national security measures has also played a key role in influencing the development and launch of nanosatellites and microsatellites.
Latin America as well as the MEA region both present lucrative opportunities for players to capitalize on.
The nanosatellite and microsatellite market report provides analysis for the period 2014-2024, wherein the period from 2016 to 2024 is the forecast and 2015 is the base year. The report covers all the major trends and technologies playing a key role in the nanosatellite and microsatellite market's growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market's growth during the said period in terms of revenue (in US$ Mn), across the geographies including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America region comprises of the U.S. and Canada, while the Europe region covers the U.K., Germany, France, Spain, Italy, and rest of Europe. Furthermore, the Asia Pacific region is divided into Japan, China, India, Indonesia, and rest of Asia Pacific. Latin America is further categorized into Brazil and rest of Latin America.
The market overview section of the report outlines the drivers, restraints, and opportunities that influence the current nature and future standing of this market. An impact analysis of key trends has also been provided for every geographic region in the report in order to give a thorough analysis of the overall state of the nanosatellite and microsatellite market globally. Moreover, the report provides an overview of the various strategies of key players in the market.
The report segments the global nanosatellite and microsatellite market on the basis of solution into hardware, software, data processing, and launch services. Furthermore, on the basis of application the nanosatellite and microsatellite market is divided into navigation and mapping, scientific research, power, communication, reconnaissance, and others (Biological experiments, Earth observation, and remote sensing). Furthermore, depending on the industry the market is segmented as agency, defense, educational, non-profit, energy and infrastructure, and others (Maritime and transportation, Independent). The nanosatellite and microsatellites operates in different bands that includes X-band, K-band, Ka-band, and others. Depending on mass of the satellites the nanosatellite and microsatellite market is divided into 1 Kg - 10 Kg (Nanosatellite) and 11 Kg - 100 Kg (Microsatellite). The report emphasizes on covering the number of nanosatellites and microsatellites launched in 2015 and also projects the expected launches during the forecast period. Thus, the report provides in-depth cross-segment analysis of the nanosatellite and microsatellite market and classifies it at various levels, providing valuable insights at the macro and micro levels.
The report also highlights the competitive landscape of the nanosatellite and microsatellite market, positioning all the major players according to their geographic presence, products/solutions offered, focus on research and development, and key recent developments. The comprehensive nanosatellite and microsatellite market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the nanosatellite and microsatellite market's growth.
The major companies profiled in nanosatellite and microsatellite market study include Lockheed Martin Corporation, Clyde Space, Inc., RUAG Group, Planet Labs, Inc., GomSpace, Innovative Solutions In Space (ISIS) Group, Sierra Nevada Corporation, Terra Bella (Formerly Skybox Imaging, Inc.), and SpaceQuest Ltd. Details such as financials, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
The nanosatellite and microsatellite market is segmented as below: