Global Nano Satellite Market Forecast to 2030
The global nano satellite market size is expected to reach USD 1,336.9 Million in 2030 and register a revenue CAGR of 20.4% over the forecast period, according to the latest report by Emergen Research. Rise in demand for Earth observation related applications and increasing number of aeronautics, communications, and satellite development companies are factors driving global nano satellite market revenue growth.
The Global Nano satellite Market research report is a complete document that explains the most recent breakthroughs and advancements in the Nano satellite industry, using 2019 as the base year and 2022–2030 as the forecast year. The analysis offers insightful data on the market’s size, share, sales channels, distribution networks, market segmentation, consumer demands and trends, and growth prospects. The expansion of regional and global markets is also examined in the study. In the paper, the effect of the COVID-19 pandemic on the market for Nano satellite and its important sectors is studied.
Nano satellites are miniaturized artificial satellites that weigh less than 10kgs. Nano satellites are more convenient and take less time to build than convectional satellites owing to smaller size. Nano satellites are launched at lower altitudes and cost of launching is also relatively lower. These devices travel at high speed and circle the Earth in a polar orbit. Nano satellites are used for purposes such as remote sensing, land observation, and communication, among others.
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The global Nano Satellite industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
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
Research Report on the Nano Satellite Market Addresses the Following Key Questions:
Who are the dominant players of the Nano Satellite market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Nano Satellite market?
What are the key growth drivers and restraining factors of the Nano Satellite market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Nano Satellite market and its key segments?
The report bifurcates the Nano Satellite market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Mass 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
Technology Demonstration and Verification
Mapping and Navigation
End-use Outlook (Revenue, USD Billion; 2018–2030)
Regional Landscape section of the Nano Satellite report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights from the Report
In December 2021, Redwire Corporation announced a three-year supplier agreement with Terren Orbital, which is a global leader and pioneer in the development, innovation and operation of small and nano satellites and Earth observation solutions. With this agreement, Redwire Corporation will deliver a wide range of advanced components and solutions to Terran Orbital, which will be used in small and nano satellite manufacturing and service offerings.
Earth observation and remote sensing segment accounted for significantly large revenue share in 2020 owing to ability of these satellites to gather information over large areas, which will help to characterize natural features or physical objects on the ground.
Government segment accounted for moderate revenue share in 2020 and is expected to register a rapid growth rate during the forecast period. Governments of various countries across the globe use real-time data collected from nano satellites for various operations such as scientific research, biological experiments, and others.
Market in Europe accounted for a significantly moderate revenue share in 2020. Rapid adoption of miniaturized artificial satellites and advancement in technologies such as Artificial Intelligence (AI), satellite IoT, in-orbit services, advanced ground systems, and others, and expanding aeronautics and satellite industries are expected to drive market growth going ahead.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Nano Satellite market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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