Launch of small satellites via heavy vehicles has proved to be quite challenging in recent years, resulting in increased demand for development of small launch vehicles. Traditionally, small satellites were launched as an additional payload with larger satellites, which gave rise to launch and cost constraints. Need for small launch vehicles that can overcome these cost constraints culminated in the development of Small Satellite Launch Vehicles (SSLVs).
Seattle, WA -- (SBWIRE) -- 11/14/2019 -- The software and data processing segment includes revenues from various software packages as well as data processing suites that are required for accepting and extracting actionable information from raw satellite data at the ground station. Furthermore, it also includes revenues from on-board Nano Satellite software. Software mainly performs functions, such as commands and data handling, attitude determination and control, and satellite space protocol. The software segment holds a very small share of around 4% to 6% in the Nano Satellite market, by component.
The adoption of Nano Satellite is increasing across the world due to rising demand from the commercial, energy, and infrastructure sectors. On the basis of mass, the Nano Satellite market is segmented into 1 kg–10 kg satellites known as nano-satellites and 11 kg–100 kg satellites called micro-satellites. Nano-satellites account for a share of more than 50% of the small satellite market. Due to their low mass and small size, these satellites can be launched simultaneously on a single vehicle launcher. They can be designed for a specific task, such as communication, earth observation, and space exploration.
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Micro-satellites have revolutionised earth observation. Conventionally, earth observation and remote sensing missions involve huge costs. Nano Satellite have created newer opportunities for earth observation and remote sensing by using inexpensive small satellites to capture earth images and gather specific data. Nano Satellite are expected to play a major role in remote sensing missions due to their enhanced computational and communication capabilities, along with their ability to decide which data needs to be sent and when.
Successful programs to develop and examine advanced hyperspectral imaging systems compatible with Nano Satellite missions have enabled these small satellites to generate high-quality complex images. Moreover, the high mobility of Nano Satellite due to their compactness makes them ideal for earth observations and tracking of various weather-related phenomena, such as hurricanes, lightning and polar lights, or natural catastrophes as well as speculations of accidental disasters without any delay in reporting time. Thus, all these missions are expected to help the earth observation and remote sensing application segment to record the highest CAGR during the forecast period.
Small satellites are ideal for investments by private enterprises, as they are cheaper, faster to build, and can be launched for commercial missions as well. The geospatial technology using earth-imaging small satellites for agriculture, education, intelligence navigation, mapping, and other uses, has driven the growth of the commercial vertical in the past decade. Nano Satellite help commercial companies to gather and distribute global real-time data at a surprisingly low price across a wide geographic area to customers. Nano Satellite are used for commercial purposes, such as communication, in the form of voice, data, and videos, internet communication, and video chat, among other applications.
This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering Lockheed Martin, Northrop Grumman, Planet Labs, Surrey Satellite Technologies, Spire Global, Dauria Aerospace, Tyvak, CubeSat, NANOSATELLITE COMPANIES, AEC-Able Engineering, AeroAstro L.L.C., Aeroflex, Aerojet, Airbus Defence and Space, Aitech, Alenia Spazio, APCO Technologies, Ardé, ATK, Austrian Aerospace, Boeing Space Systems, CAEN Aerospace, Raytheon, PCI
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
By Application, the market can be split into
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