According to the most recent analysis by Emergent Research, the size of the worldwide nano satellite market is anticipated to reach USD 1,336.9 million in 2030 and see a revenue CAGR of 20.4 % during the projected period. The growth of the global nano satellite market is being fueled by factors such as the rise in demand for applications linked to Earth observation and the expansion of the aerospace, telecommunication, and satellite development industries.
Due to the rising demand for satellite applications among end users in the commercial, defense and military, and government sectors, the nanosatellite industry has been expanding at an accelerated rate in recent years. A new set of programs are being run to create the newest nanosatellite technologies in light of the nanosatellite industry’s rapid growth. The primary reason propelling the expansion of the nano satellite market is the rising need for small satellite constellations for satellite applications such as earth observation, remote sensing, and communication.
Over the next few years, it is projected that demand for nanosatellites would increase as more countries launch their constellations. Defense forces around the world have expressed interest in the possible benefits of using nanosatellite constellations for specific military uses. With the use of these systems, a group of nanosatellites in a single orbital location can take the place of one giant satellite. Once the technology is available, it is anticipated that nanosatellite constellation systems will perform better, launch more affordably, and operate similarly to traditional satellite systems.
Some Key Highlights from the Report
- In December 2021, Terren Orbital, a world leader and innovator in the creation, invention, and operation of small and nanosatellites and Earth observation technologies, and Redwire Corporation signed a three-year supplier agreement. Through this partnership, Redwire Corporation will provide Terran Orbital with a vast array of cutting-edge parts and solutions that will be employed in the production of tiny nanosatellites as well as service offerings.
- Due to the ability of these satellites to collect data across vast areas, which will help to classify natural features or physical items on the ground, the earth observation and remote sensing market accounted for a fairly substantial revenue share in 2020.
- ACC Clyde Space, GomSpace A/S, ISISPACE Group, Israel Aerospace Industries (IAI) Ltd., Lockheed Martin Corporation, Alen pace, Axelspace Corporation, NanoAvionics, Planet Labs PBC, SRM Institute of Science and Technology, Sierra Nevada Corporation, EnduroSat, Sky and Space Global Ltd., and The Boeing Company are significant firms that are profiled in the global market report.
Emergen Research has segmented the global nano satellite market based on mass, application, end-user, and region:
Mass Type Outlook (Revenue, USD Billion; 2018–2030)
- 1kg-3kg Nano Satellite
- 4kg-6kg Nano Satellite
- 7kg-10kg Nano Satellite
Application Outlook (Revenue, USD Billion; 2018-2030)
- Earth Observation and Remote Sensing
- Scientific Research
- Biological Experiments
- Technology Demonstration and Verification
- Academic Training
- Mapping and Navigation
- Space Exploration
End-use Outlook (Revenue, USD Billion; 2018–2030)
Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- the U.S.
- the U.K.
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
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