The global nano and microsatellite market is anticipated to grow at a CAGR of 23.3 % during the forecast period (2024-2031). Small satellites, additionally known as nano and microsatellites, offer cost-effective solutions to various industries. These satellites can be developed quickly and deployed rapidly, providing global coverage and increased accessibility to remote areas. Applications of small satellites include agriculture, urban planning, disaster management, communication and connectivity, space exploration, climate studies, technology testing and demonstration, and commercial and defense applications. Furthermore, the market’s growth is attributed to growing demand for data and connectivity across the globe. The growing need for data, connectivity, Earth observation, and IoT services drives the need for fragile satellite constellations to provide globally accessible coverage and data services. For instance, in July 2023,Space Flight Laboratory (SFL) launched and orbital deployment of the Telesat LEO 3 demonstration microsatellite at 1:27 UTC, furthermore LEO 3 is the 13th successful deployment of a LEO satellite, launched from New Zealand by the Rocket Lab Electron launch vehicle. SFL developed a microspace mission.

Furthermore, OQ Technology's "Tiger-3" payload is designed to meet the increasing demand for 5G IoT/M2M communication, that provide global connectivity for machine-to-machine communication. This in turn is driving the need for small satellite constellations. In April 2022, MP42 is NanoAvionics’ launched it has been developed on one of the industry's first commercially available modular microsatellite buses. The MP42 mission is a rideshare mission that is part of the company's ongoing program. It can accommodate numerous payloads, including OQ Technology's "Tiger-3," that's add another satellite to its 5G IoT/M2M (machine-to-machine) communication constellation, and VeoWare's RW500 fully integrated reaction wheel.

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Market Coverage

The market number available for – 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered- 

By System
By Product
By End-User

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- includes Axelspace Corp., Capella Space Corp., China Aerospace Science and Technology Corp.(CASC), German Orbital Systems GmbH, GomSpace A/S, and others.

Nano and Microsatellite Market Report Segment

By Application

Communication and Navigation
Earth Observation
Scientific Research
Space Observation
Others (Education, and Technology Demonstration)

By Orbit Class

Geostationary Orbit (GEO)
Sun-Synchronous Orbit (SSO)
Polar Orbit
Others (Low Earth Orbit (LEO), and Medium Earth Orbit (MEO))

By End-User

Commercial Sector
Governmental and Institutional Users
Military
Civil

A full Report of Nano and Microsatellite Market is Available @  https://www.omrglobal.com/industry-reports/nano-and-microsatellite-market

Company Profiles

Axelspace Corp.
Capella Space Corp.
China Aerospace Science and Technology Corp.(CASC)
German Orbital Systems GmbH
GomSpace A/S
HawkEye 360, Inc.
ICEYE Oy
Kleos Space SA
LeoStella, LLC
NanoAvionics
OHB System AG
Planet Labs PBC
Rocket Lab USA, Inc.
Satellogic
SpaceNews
Spire Global, Inc.
Terran Orbital Corp.
Virgin Red Ltd.

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