Nanosatellite and Microsatellite Market to Reach $3.4 Billion by 2022 - Due to Low Manufacturing Cost & High Demand For Miniature Satellites for Earth Observation Applications - Research and Markets
DUBLIN, June 26, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Nanosatellite and Microsatellite Market by Component (Hardware, Software & Data Processing, Services, Launch Services), Mass (1 kg-10 kg and 11 kg-100 kg), Application (Earth Observation & Remote Sensing), Vertical - Global Forecast to 2022" report to their offering.
The nanosatellite and microsatellite market is projected to grow from USD 1.21 Billion in 2017 to USD 3.49 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.7% from 2017 to 2022. The major factors expected to drive the growth of the market include the low manufacturing cost of miniature satellites, high demand for miniature satellites for earth observation applications, and increased investments in nanosatellite and microsatellite technologies.
The nanosatellite and microsatellite market has been segmented based on mass into 1kg-10kg (nanosatellite) and 11kg-100kg (microsatellite). The 1kg-10kg (nanosatellite) segment is expected to witness the highest growth during the forecast period. Based on application, the market has been segmented into communication, earth observation and remote sensing, scientific research, biological experiment, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance. The Earth observation and remote sensing segment is expected to be the fastest-growing segment of the market during the forecast period. Based on component, the market has been segmented into hardware, software and data processing, service, and launch service. The software and data processing segment is expected to witness the highest growth during the forecast period. Based on vertical, the market has been segmented into government, civil, commercial, defense, energy & infrastructure, and maritime & transportation.
North America is expected to be the largest market for nanosatellites and microsatellites during the forecast period, owing to the high demand from NASA and the U.S. Department of Defense, as well as research organizations and companies in the telecommunication sector. The nanosatellite and microsatellite market in Europe is expected to witness the highest growth during the forecast period, due to an increase in the demand for miniature satellites in missions to obtain data pertaining to Earth observation and scientific exploration. The European Space Agency (ESA) and other national space agencies are expected to launch nanosatellites and microsatellites to gather data on climate monitoring, disaster management, navigation, and surveillance.
Companies Mentioned
- Clyde Space, Inc.
- Gs Sweden Ab (Gomspace)
- Innovative Solutions in Space
- Lockheed Martin Corporation
- Planet Labs, Inc.
- Raytheon Company
- Ruag Group
- Sierra Nevada Corporation
- Spacequest Ltd.
- Tyvak Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview And Industry Trends
6 Nanosatellite And Microsatellite Market, By Component
7 Nanosatellite And Microsatellite Market, By Mass
8 Nanosatellite And Microsatellite Market, By Application
9 Nanosatellite And Microsatellite Market, By Vertical
10 Regional Analysis
11 Competitive Landscape
12 Company Profiles
13 Key Innovators
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/bnktq3/nanosatellite_and
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