Nanosatellite and Microsatellite Market
Nanosatellite and Microsatellite Market
By end user, the commercial segment is expected to register a significant growth during the forecast period.
PORTLAND, OR, US, February 2, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Nanosatellite And Microsatellite Market by End User, Application, and Orbit Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global nanosatellite and microsatellite market was valued at $2.23 billion in 2020, and is projected to reach $8.69 billion by 2030, registering a CAGR of 14.9%.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A07491
By application, the market is segmented into communications, earth observation, space science, technology demonstration, and technology development. The earth observation segment garnered the highest revenue in 2020, owing to high demand of satellite data for earth observation applications across the world.
Increase in production and launch of CubeSats and smaller size and weight of nanosatellite and microsatellite than conventional satellites have boosted the growth of the global nanosatellite and microsatellite market. However, stringent government regulations and limitations of small satellites regarding payload accommodation hinder the market growth. On the contrary, rise in demand for satellite data and increase in demand for nanosatellites and microsatellites from the commercial sector are anticipated to pave the way for multiple opportunities in the industry.
Based on application, the earth observation segment accounted for more than half of the global nanosatellite and microsatellite market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the high demand of satellite data for earth observation applications across the globe. The communications segment, however, would showcase the fastest CAGR of 16.7% by 2030. Increase in demand for faster and secure communications throughout the world drives the growth of the segment. The report also includes analysis of space science, technology development, and technology demonstration segments.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/nanosatellite-and-microsatellite-market/purchase-options
By orbit type, the nanosatellite and microsatellite market is fragmented into non-polar inclined, polar, and sun-synchronous. The sun-synchronous was the highest revenue contributor in 2020, owing to a majority of the nanosatellite and microsatellites being launched in this orbit type.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
𝐒𝐈𝐄𝐑𝐑𝐀 𝐍𝐄𝐕𝐀𝐃𝐀 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐆𝐎𝐌𝐒𝐏𝐀𝐂𝐄, 𝐒𝐰𝐚𝐫𝐦 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬, 𝐈𝐧𝐜., 𝐋𝐎𝐂𝐊𝐇𝐄𝐄𝐃 𝐌𝐀𝐑𝐓𝐈𝐍 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐏𝐋𝐀𝐍𝐄𝐓 𝐋𝐀𝐁𝐒 𝐈𝐍𝐂, 𝐒𝐮𝐫𝐫𝐞𝐲 𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐋𝐭𝐝., 𝐓𝐲𝐯𝐚𝐤 𝐍𝐚𝐧𝐨-𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐒𝐲𝐬𝐭𝐞𝐦𝐬, 𝐈𝐧𝐜., 𝐋𝟑𝐇𝐀𝐑𝐑𝐈𝐒 𝐓𝐄𝐂𝐇𝐍𝐎𝐋𝐎𝐆𝐈𝐄𝐒, 𝐈𝐍𝐂., 𝐀𝐬𝐭𝐫𝐨 𝐃𝐢𝐠𝐢𝐭𝐚𝐥, 𝐀𝐀𝐂 𝐂𝐥𝐲𝐝𝐞 𝐒𝐩𝐚𝐜𝐞 𝐀𝐁
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
By region, North America garnered the major share in 2020, contributing to more than half of the global nanosatellite and microsatellite market. This is due to the key players in the region taking recourse to innovative developments, increase in R&D activities, and increased adoption of innovative technologies in order to develop long-lasting, reliable, and efficient nanosatellite and microsatellites. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 16.4% throughout the estimated period. This is attributed to the rise in production and launch of nanosatellites and microsatellites across several Asian nations such as India, China, Japan, and South Korea.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A07491
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
By end user, the commercial segment is expected to register a significant growth during the forecast period.
By application, the communications segment is anticipated to exhibit significant growth in future.
By orbit type, the sun-synchronous segment is projected to lead the global nanosatellite and microsatellite market.
Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Autonomous Aircraft Market - https://www.globenewswire.com/en/news-release/2022/08/05/2492994/0/en/Autonomous-Aircraft-Market-to-Garner-37-06-Billion-by-2031-Allied-Market-Research.html
Aircraft Manufacturing Market - https://www.globenewswire.com/news-release/2023/04/14/2647226/0/en/Aircraft-Manufacturing-Market-to-Garner-476-4-Billion-by-2031-Allied-Market-Research.html
Electric Aircraft Market - https://www.prnewswire.com/news-releases/electric-aircraft-market-size-to-reach-23-5-billion-globally-by-2031-at-10-9-cagr-allied-market-research-301794157.html
David Correa
Allied Market Research
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