Nanosatellite and Microsatellite Market SWOT Analysis, Size, Share, Growth Rate, Application, Types, Future Demand, Business Opportunity, Key Indicators, and Forecast 2030
Kenneth Research, in its repository of market research reports, have recently added a report on Nanosatellite and Microsatellite Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Nanosatellite and Microsatellite Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Nanosatellite and Microsatellite Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Nanosatellite and Microsatellite Market is valued approximately USD 1.53 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 20.1% over the forecast period 2019-2026. Nanosatellite and Microsatellite are sub-segments of the Small Satellites. The term Microsatellite is used when the wet mass of the satellite is between 10 and 100kg while when the wet mass of the satellite is 1 to 10 kg it is referred to as nanosatellite. These satellites are majorly used for earth observation, communication purposes , and space research. Besides these usages, nanosatellites and microsatellites are also utilized in defense, military sector and for commercial purposes.
Nanosatellites and microsatellites are basically used for research requirements and for scientific objectives on a large scale. With the increasing pace of earth observation, communication and space research the demand for these satellites has increased tremendously. Furthermore, nanosatellites are low cost bearing as compared to the traditional satellites. Hence these Satellites helps to remove the obstacles of heavy investments in the space industry. The advancement in the communications sector coupled with the rapid adoption of Internet of Things (IoT) is expected boost the market growth. As the adoption of IoT will encourage start-ups to launch their own small satellites into the space. __Also, growing government support towards companies to launch nanosatellites and microsatellites for earth observation, communication and navigation and other applications paves a concrete pathway for the market growth. However, high chances of failure impedes the growth of the market over the forecast period of 2020-2026. Although, the emerging role of small satellites in the telecom sector has enabled telecom providers to accelerate 5G deployment globally, along with creating market opportunities for Nanosatellite and Microsatellite market.
The regional analysis of global Nanosatellite and Microsatellite market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high adoption of nanosatellites and microsatellites in the region coupled with the presence of large space organizations and private companies creates a huge demand for Nanosatellites and Microsatellites. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising investments in the sector along with supporting government initiatives would create lucrative growth prospects for the Nanosatellite and Microsatellite market across Asia-Pacific region.
Major market player included in this report are:
GomSpace (Denmark)
Lockheed Martin Corporation (US)
L3Harris Technologies (US)
Sierra Nevada Corporation (US)
AAC Clyde Space (Scotland)
Planet Labs Inc. (US)
NanoAvionics Corp. (US)
Innovative Solutions In Space (Netherlands)
RUAG Holding (Switzerland)
Surrey Satellite Technology Limited (England)
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Hardware
Software & Data Processing
Launch Services
By Type:
Nanosatellite
Microsatellite
By Application:
Communication
Earth Observation and Remote Sensing
Scientific Research
Biological Experiment
Others
By Vertical:
Government
Defense
Civil
Commercial
Energy and Infrastructure
Maritime and Transportation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Nanosatellite and Microsatellite Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Nanosatellite and Microsatellite Market, by Region, 2018-2026 (USD Billion)
1.2.2. Nanosatellite and Microsatellite Market, by Component, 2018-2026 (USD Billion)
1.2.3. Nanosatellite and Microsatellite Market, by Type, 2018-2026 (USD Billion)
1.2.4. Nanosatellite and Microsatellite Market, by Application, 2018-2026 (USD Billion)
1.2.5. Nanosatellite and Microsatellite Market, by Vertical, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Nanosatellite and Microsatellite Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Nanosatellite and Microsatellite Market Dynamics
3.1. Nanosatellite and Microsatellite Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Nanosatellite and Microsatellite Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Nanosatellite and Microsatellite Market, by Component
5.1. Market Snapshot
5.2. Global Nanosatellite and Microsatellite Market by Component, Performance – Potential Analysis
5.3. Global Nanosatellite and Microsatellite Market Estimates & Forecasts by Component 2016-2026 (USD Billion)
5.4. Nanosatellite and Microsatellite Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software & Data Processing
5.4.3. Launch Services
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