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Global Nano Satellite & Micro Satellite Market Estimated To Reach $ 6,111.8 Million by 2026 - Polaris Market Research

Nano & Micro satellites are used for transmission of information for telecommunications, data transfers, real time data relay, internet, remote monitoring & asset tracking, & maritime communications.”
— Polaris Market Research

BROOKLYN, NY, UNITED STATES, January 29, 2018 / -- According to a study published by Polaris Market Research, Global Nano Satellite and Micro Satellite Market was estimated to be USD 1,233.7 million in 2017 and is anticipated to grow at a CAGR of 19.7% during the forecast period.

Micro-satellites are artificial satellites with mass of 10 kg to 100 kg whereas nano satellites are artificial satellites weighing between 1 kg to 10 kg, and measuring around 30-by-10-by-10 centimeters. The demand for low cost micro and nano-satellites has increased significantly as companies operating large satellites are looking for lighter and cost effective platforms. These satellites are used for transmission of information for telephony, telecommunications, data communications, real time data relay, broadband internet, remote monitoring and asset tracking, maritime communications, video conferencing, and broadcast radio/TV. Satellite based communications play an important role in military operations owing to its high reliability, and security. Several military operations use the Iridium and Globalstar nano and micro satellite constellation for mobile communications services. Nano and micro satellites are placed into low Earth orbit which reduces latency of internet services to 20-30ms. This is a good alternative for developing nations, where establishing a network using optical fibers can be expensive.

The demand of nano and micro satellites for earth observation has increased over the years. Earth observation is the major application of these satellites. High demand for satellite imagery in the government sector including federal agencies, local, and state governments for various purposes such as urban planning, border mapping, infrastructure security, homeland security are contributing significantly to the growth of the market. One of the major factors positively affecting the growth of the market is the large number of satellites that have been launched by various agencies such as NASA, European Space Imaging, and Japan Aerospace Exploration Agency. Multispectral imagery offered by satellites for various applications such as wetland mapping, vegetation analysis, and examination of soil features have increased the adoption of satellite imaging in the agriculture sector. The growing awareness regarding scarcity of natural resources, incidences of oil smuggling, and theft of oil and gas have led to the widespread use of satellite imagery in the energy sector. Satellite imaging has the capability to map infinite amount of land surfaces while providing significant insights. The use of geological data provided by satellites for survey and exploration purposes has contributed to the growth of the market. Increasing application areas of nano and micro satellites in earth observation along with affordable prices supplements the growth of this market.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Nano and Micro Satellite Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

North America generated the highest revenue in 2017. Large number of companies operating in nano and micro satellite market are headquartered in this region, thereby supporting the dominance of this region. In this region, the nano and micro satellite market is growing due to increasing applications in defense, government, and commercial sectors. U.S. is one of the leading countries in the nano and micro satellite market owing to presence of established space research organizations such as NASA, and implementation of advanced technologies to leverage its resources. Numerous players are expanding their operations in the region to cater to the growing demand of high-resolution imaging, communication services, and space-based internet services. Clyde Space Ltd., a UK based company, and Denmark-based GomSpace are major companies expanding their operations in the U.S., to cater to the growing demand of space products in the region.

Competitive Landscape and Key Vendors
The global nano and micro satellite market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

The leading companies profiled in the report include Lockheed Martin Corporation, Planet Labs, Inc., Sierra Nevada Corporation, Raytheon Company, Clyde Space, Inc., SpaceQuest Ltd., Surrey Satellite Technology Limited, Vector Space Systems, Tyvak Inc., The Boeing Company, GomSpace Group AB, Harris Corporation, and Thales Group.

Key Segments
Chapter-1. Satellite Type
1.1 Nano Satellites
1.2 Micro Satellites

Chapter-2. Application
2.1 Earth Observation
2.2 Communication
2.3 Technology Demonstration
2.4 Biological Experimentation
2.5 Scientific Research & Academic Training
2.6 Others

Chapter-3. End-User
3.1 Defense
3.2 Civil and Construction
3.3 Government
3.4 Energy
3.5 Commercial
3.6 Others

Chapter-4 Region
4.1 North America
4.1.1 U.S.
4.1.2 Canada
4.1.3 Mexico
4.2 Europe
4.2.1 Germany
4.2.2 UK
4.2.3 France
4.2.4 Italy
4.2.4 Rest of Europe
4.3 Asia-Pacific
4.3.1 China
4.3.2 India
4.3.3 Japan
4.3.4 Rest of Asia-Pacific
4.4 Latin America
4.4.1 Brazil
4.4.2 Rest of Latin America
4.5 Middle East and Africa

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