The global nano and microsatellite market to grow at a CAGR of 22.95% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global nano and microsatellite market for 2016-2020. To calculate the market size, the report presents the market landscape and a corresponding detailed analysis of the five major vendors operating in the market.
Miniaturization has been one of the major trends in almost every sector, and microsatellites are no exception. Making radar cameras smaller, which conventionally weigh 110-440 pounds, will result in an overall reduction in weight of the satellites. A team of researchers at NTU developed a new technology which can be directed toward miniaturization of radar cameras and can be implemented in microsatellites. With the new technology, radar cameras can be made small enough to fit in the palm of the human hand.
According to the report, one of the key drivers for market growth will be cost-effective solution as compared to bigger satellites. One of the advantages of the nano and microsatellites in comparison to the conventional large satellites is their financial viability with respect to the manufacturing and launching procedures. Thus, a constellation of such satellites can be utilized to provide low-cost solutions. However, the use of large satellites for the same purpose would otherwise cost tens of millions of dollars. The cost to build a nano or microsatellite is almost negligible in comparison to the traditional large-scale satellite. These nano and microsatellites mostly use the hardware and software already developed and mainly used by the tech industry.
Further, the report states that each satellite's development and manufacturing has its own set of challenges as it has to withstand the exposure to the space environment and launch events. The challenges in the design and manufacturing of nano and microsatellites arise because of the need to reduce the weight and size while providing a high level of performance and reliability. For example, the antennas for nano and microsatellites have to be miniaturized to fit into the satellite system, which, however, reduces the signal strength. Many of the current miniaturized satellites used for science missions or technological demonstrations are designed for short mission life and use off-the-shelf electronics to lower costs.
Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?