According to TMR, the global nanosatellite and microsatellite market is expected to rise to US$2.2 bn by 2024, expanding at a 12.1% CAGR from 2016 to 2024.
Albany, NY -- (SBWIRE) -- 01/15/2018 -- On the basis of solution, the hardware segment has been leading but the data processing segment is anticipated to expand at the fastest pace, exhibiting a CAGR of 13.2% from 2016 to 2024. On the basis of mass, the microsatellites segment is leading in the market and is also expected to be the fastest expanding segment.
The nanosatellite and microsatellite market report provides analysis for the period 2014–2024, wherein the period from 2016 to 2024 is the forecast and 2015 is the base year. The report covers all the major trends and technologies playing a key role in the nanosatellite and microsatellite market's growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market's growth during the said period in terms of revenue (in US$ Mn), across the geographies including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America region comprises of the U.S. and Canada, while the Europe region covers the U.K., Germany, France, Spain, Italy, and rest of Europe. Furthermore, the Asia Pacific region is divided into Japan, China, India, Indonesia, and rest of Asia Pacific. Latin America is further categorized into Brazil and rest of Latin America.
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The market overview section of the report outlines the drivers, restraints, and opportunities that influence the current nature and future standing of this market. An impact analysis of key trends has also been provided for every geographic region in the report in order to give a thorough analysis of the overall state of the nanosatellite and microsatellite market globally. Moreover, the report provides an overview of the various strategies of key players in the market.
The report segments the global nanosatellite and microsatellite market on the basis of solution into hardware, software, data processing, and launch services. Furthermore, on the basis of application the nanosatellite and microsatellite market is divided into navigation and mapping, scientific research, power, communication, reconnaissance, and others (Biological experiments, Earth observation, and remote sensing). Furthermore, depending on the industry the market is segmented as agency, defense, educational, non-profit, energy and infrastructure, and others (Maritime and transportation, Independent). The nanosatellite and microsatellites operates in different bands that includes X-band, K-band, Ka-band, and others. Depending on mass of the satellites the nanosatellite and microsatellite market is divided into 1 Kg – 10 Kg (Nanosatellite) and 11 Kg – 100 Kg (Microsatellite). The report emphasizes on covering the number of nanosatellites and microsatellites launched in 2015 and also projects the expected launches during the forecast period. Thus, the report provides in-depth cross-segment analysis of the nanosatellite and microsatellite market and classifies it at various levels, providing valuable insights at the macro and micro levels.
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The report also highlights the competitive landscape of the nanosatellite and microsatellite market, positioning all the major players according to their geographic presence, products/solutions offered, focus on research and development, and key recent developments. The comprehensive nanosatellite and microsatellite market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the nanosatellite and microsatellite market's growth.
The major companies profiled in nanosatellite and microsatellite market study include Lockheed Martin Corporation, Clyde Space, Inc., RUAG Group, Planet Labs, Inc., GomSpace, Innovative Solutions In Space (ISIS) Group, Sierra Nevada Corporation, Terra Bella (Formerly Skybox Imaging, Inc.), and SpaceQuest Ltd. Details such as financials, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
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The nanosatellite and microsatellite market is segmented as below:
Nanosatellite and Microsatellite Market
Navigation and Mapping
Others (Biological Experiments, Earth Observation and Remote Sensing)
By Industry Type
Energy and Infrastructure
Others (Maritime and Transportation, Independent)
1 Kg – 10 Kg (Nanosatellites)
11 Kg – 100 Kg (Microsatellites)
Rest of Europe
Rest of APAC
Middle East and Africa
Rest of MEA
Rest of Latin America