According to the recent study the nanosatellite and microsatellite market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 19% to 21% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for miniaturized satellite, growing demand for earth observation associated applications, and advancement in space technologies.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in nanosatellite and microsatellite market by component (hardware, software and data processing, space services, and launch services), type (nanosatellite and microsatellite), organization size (large enterprises and SMEs), application (communication, earth observation and remote sensing, scientific research, biological experiment, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance), orbit (non-polar inclined, sun-synchronous orbit, and polar orbit), end use industry (government, civil, commercial, defense, energy & infrastructure, and maritime & transportation), frequency (UHF-band, VHF-band, S-band, X-band, KA-band, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Nanosatellite market is expected to remain the largest segment during the forecast period.”
Based on type, the nanosatellite and microsatellite market is segmented into nanosatellite and microsatellite. Lucintel forecasts that the nanosatellite market is expected to remain the largest segment due to rising deployment for earth observation missions.
“Within the nanosatellite and microsatellite market, the commercial segment is expected to remain the largest end use industry”
Based on end use industry the commercial segment is expected to witness the highest growth over the forecast period due to the increasing usage of microsatellites and nanosatellites in commercial settings to efficiently run operations including communication, broadcasting, and navigation.
“North America will dominate the nanosatellite and microsatellite market in near future”
North America is expected to remain the largest region over the forecast period due to rising investments in activities related to space and existence of established space research universities & agencies
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Major players of nanosatellite and microsatellite market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. GomSpace, Lockheed Martin, L3Harris, Sierra Nevada, AAC Clyde Space, Planet Labs, Surrey Satellite Technology, Northrop Grumman, OHB SE, Tyvak, Raytheon Intelligence and Space, Pumpkin Space Systems, Beyond Gravity, and Millennium Space Systems are among the major nanosatellite and microsatellite providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/nanosatellite-and-microsatellite-market.aspx or [email protected]