Published: Sep-2022|  Format: PDF | MBI Research |  Number of pages: 138 | Code: MBI-3927336

Nanosatellite and Microsatellite Market Size, Share, Growth & Demand Analysis Report by Orbit Type (Polar, Non-polar inclined, Sun-synchronous) By Application (Technology development, Space science, Earth observation, Communication, & Others) By End-User (Government, Commercial, Military, Civil) Forecast Report 2022-2030

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Market Overview:

The global nanosatellite and microsatellite market size was valued at USD 2.24 billion in 2021 and is projected to register a valuation of USD 8.4 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 20.3% over the forecast period 2022-2030. The increasing demand for small satellites for various scientific research and defense applications is the main factor driving the market growth.

Nanosatellites are satellites with a weight between 1kg and 10kg and include Cubesat and Tubesat, which are called according to their shape. CubeSat defines a standardized structure with a cube volume of 10cm x 10cm x 10cm and a weight of 1.33kg (maximum 2kg) as 1U. Recently, as the development and effectiveness of technology increase, 6U, 12U, and up to 27U (weight about 50kg) are being developed as shown in the reference figure. Nanosatellite microsatellite circle the Earth in a polar (elliptical or circular) orbit and are usually launched at low altitudes. They travel at high speed and provide optimum solutions for remote sensing, communication, and land observation.

These satellites consist of various software, hardware, and data processing devices which are also used for geographical mapping, scientific research, and navigation. The data received from these satellites are processed and used to improve water management and carry out relief and defense operations.

Continuous advancement in technology miniaturization, such as electronics, lower mission cost, increasing demand in applications related to Earth observation, and increasing use of satellite constellations, are the major factors driving the market growth. However, limited access to space is holding back the growth of the market.

Covid-19 Impact Analysis:

The outbreak of COVID-19 and the subsequent extent of lockdown have impacted the global nanosatellite and microsatellite market. As the Covid-19 crisis continues, many global industrial manufacturing companies are facing challenging times including production shutdowns, transportation, supply chain disruptions, cost increases, and workforce disruptions. COVID-19 led to an unprecedented drop in all economic activities, including the nanosatellite and microsatellite markets.

The impact of COVID-19 on the nanosatellite and microsatellite market is unpredictable and is expected to remain in force for a few years. Some satellite launches are progressing while some are not; some trials are ongoing, and some are delayed; some companies still operate, and others have closed. The adverse effects of the COVID-19 pandemic have resulted in delays in activities regarding the development of state-of-the-art nanosatellites and microsatellites worldwide.

Driving Factors:

Increasingly stringent regulations to improve nanotechnology in sectors such as intelligence, defense, and commercial the increasing adoption of nanosatellite and microsatellite systems are expected to support the nanosatellite and microsatellite market growth to a great extent. Growing developments and technological advancements in materials and components as well as devices in the electronics industry are indirectly propelling the growth of the global nanosatellite and microsatellite market.

The increasing demand for LEO-based services, the demand for high-speed and low-cost broadband among individual consumers in less developed countries, the development of governments in industrialized countries, and the availability of funding, are driving the market of nanosatellites and microsatellites. Investment in this technology is increasing rapidly due to the low cost to develop these satellites and the relatively high success rate of launching them into low-Earth orbit.

Market Segmentation:

The Global nanosatellite and microsatellite market is segmented by orbit type, application, end-user, and region. By orbit type polar, non-polar inclined sun-synchronous. By application of communication, earth observation, and technology development. By end-use civil, government, commercial, and military. By region Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

By Orbit Type:

The report includes nanosatellite and microsatellite orbit type, Non-polar inclined, Sun-synchronous, and polar.

A Sun-synchronous orbit (SSO), also called a heliosynchronous orbit, is a nearly polar orbit around a planet, in which the satellite passes any point on the planet's surface at the same local mean solar time.

By Application:

The report includes nanosatellite and microsatellites by application communication, earth observation, and technology development.

The software and data processing component of the market is expected to witness a high growth rate during the forecast period.

Regional Analysis:

The global nanosatellite and microsatellite market is categorized into regions such as Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

North America is anticipated to form a major share of the market during the forecast period due to increasing investment in space-related activities and early adoption of the program along with advanced satellite technology. Moreover, the growth in demand for small satellites from various end-use sectors such as research organizations, military and defense, and telecommunications has driven the growth of the regional market.

Furthermore, Asia Pacific is projected to emerge as the fastest growing regional market, as economies in the region, such as India and Japan, continue to aggressively launch small satellites for navigation and communications purposes. Asia-Pacific will exhibit the highest CAGR of 15.6 % during 2022-2030.

Key Market Players:

  • AAC Clyde Space AB
  • Astro Digital
  • L3HARRIS TECHNOLOGIES, INC.
  • GOMSPACE
  • LOCKHEED MARTIN CORPORATION
  • Surrey Satellite Technology Ltd.
  • PLANET LABS INC
  • SIERRA NEVADA CORPORATION
  • Swarm Technologies, Inc.
  • Tyvak Nano-Satellite Systems, Inc.

Report Coverage:

Market Segmentation:

By Orbit Type

  • Polar
  • Non-polar inclined
  • Sun-synchronous

By Application

  • Technology development
  • Space science
  • Earth observation
  • Communication
  • Others

By End-user

  • Government
  • Commercial
  • Military
  • Civil

By Region

North America

  • The US
  • Canada
  • Mexico

Europe

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Middle East & Africa

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa



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