Harrisburg, NC -- (SBWIRE) -- 10/01/2020 -- The report" Nanosatellite and Microsatellite Market by Component (Hardware, Software & Data Processing, Launch Services), Type (Nanosatellite and Microsatellite), Application, Vertical (Government, Defense, Civil), and Region - Global Forecast to 2025?

According to this study, over the next five years, the Nanosatellite and Microsatellite market will register an 18.6% CAGR in terms of revenue, the global market size will reach $ 1429.6 million by 2025, from $ 723.3 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in the Nanosatellite and Microsatellite business.

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This report includes an in-depth competitive analysis of key players in the Nanosatellite and microsatellite market, along with their company profiles, recent developments, and key market strategies. The report segments the global Nanosatellite and microsatellite market by component, type, application, vertical, and region.

Major market player included in this report are GomSpace (Denmark), Lockheed Martin (US), L3Harris (US), Sierra Nevada Corporation (US), AAC Clyde Space (Scotland), Planet Labs (US), Tyvak (US), NanoAvionics (US), Innovative Solutions In Space (Netherlands), SpaceQuest (US), Raytheon (US), RUAG (Switzerland), Surrey Satellite Technology Limited (England), Dauria Aerospace (Russia), Axelspace Corporation (Japan), Sky and Space Global (UK), Kepler (Canada), GAUSS' (Italy), SpaceWorks Enterprises (US), and Berlin Space Technologies (Germany), Spire Global (US), Pumpkin Inc.(US) Northrop Grumman Corporation (US), Dynetics (US), Satellogic (Argentina).

Segmentation by type:

Nanosatellite

Microsatellite

Segmentation by application:

National Security

Science & Environment

Commerce

Others

Furthermore, nanosatellites are low-cost bearing as compared to the traditional satellites. Hence these Satellites help to remove the obstacles of heavy investments in the space industry. The advancement in the communications sector coupled with the rapid adoption of the Internet of Things (IoT) is expected to boost market growth. As the adoption of IoT will encourage start-ups to launch their own small satellites into 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 impede 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.

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Key questions answered in the report include:

What will the market size be by the end of the forecast period?
What are the key factors driving the growth of the market?
What are the key trends that are influencing the growth of the Nanosatellite and Microsatellite Market?
What are the challenges to market growth?
Who are the leading players operating in the market?
What are the challenges and threats faced by the leading players?
What are the key outcomes of Porter's five forces analysis of the market?

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https://www.marketinsightsreports.com/reports/09292321020/global-5g-satellite-communication-market-2020-by-company-regions-type-and-application-forecast-to-2025?mode=24R