Nanosatellite and Microsatellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Nanosatellite and Microsatellite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global nanosatellite and microsatellite market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2028, exhibiting a growth rate (CAGR) of 19.7% during 2023-2028.

Nanosatellites and microsatellites (NaM) refer to miniaturized artificial satellites that weigh between 1 to 10 kilograms. They circle the earth in a polar (circular or elliptical) orbit and are usually launched at low altitudes. They travel at high speeds and offer optimum solutions for communications, remote sensing and land observations. These satellites consist of various hardware, software and data processing devices that are also used for geographical mapping, navigation and scientific research. The data obtained from these satellites is processed and used for improving water management and carrying out relief and defense operations.

Significant growth in the aeronautic and satellite industry is one of the key factors driving the growth of the market. Furthermore, advancements in the miniaturization technologies across industries are also providing a boost to the market growth. NaMs are increasingly being utilized across the civil, commercial and defense sectors to conduct low-cost space missions, including geolocation, signal monitoring and communications. Various technological advancements, such as the integration of these satellites with artificial intelligence (AI), robotics and the Internet of Things (IoT) is acting as another growth-inducing factor. These technologies, along with Very High Frequency (VHF), Ultra High Frequency (UHF) and visible transmission technologies, aid in increasing signal frequencies and overall data transfer speeds between the satellite and the ground stations. Other factors, including the deployment of solar panels and star tracker technologies, along with extensive research and development (R&D) activities in the field of space science, are projected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global nanosatellite and microsatellite market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on satellite mass, component, application and end-use sector.

Breakup by Satellite Mass:

Nanosatellite (1kg to 10kg)
Microsatellite (10kg to 100kg)

Breakup by Component:

Hardware
Software and Data Processing
Space Services
Launch Services

Breakup Application:

Communication
Earth Observation and Remote Sensing
Scientific Research
Biological Experiments
Technology Demonstration and Verification
Academic Training
Mapping and Navigation
Reconnaissance
Others

Breakup by End-Use Sector:

Government
Civil
Commercial
Defense
Energy and Infrastructure
Others

Breakup by Region:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being AAC Clyde Space., Axelspace Corporation, Berlin Space Technologies, GomSpace, ISISPACE Group, L3harris Technologies Inc., Lockheed Martin Corporation, Planet Labs Tb Inc., Spacequest Ltd., Spire Inc., Surrey Satellite Technology, Tyvak Nano-Satellite Systems, Inc. etc.

Key Questions Answered in This Report:

What is the size of the global nanosatellite and microsatellite market in 2022?
What is the expected growth rate of the global nanosatellite and microsatellite market during 2023-2028?
What are the key factors driving the global nanosatellite and microsatellite market?
What has been the impact of COVID-19 on the global nanosatellite and microsatellite market?
What is the breakup of the global nanosatellite and microsatellite market based on the satellite mass?
What is the breakup of the global nanosatellite and microsatellite market based on the component?
What is the breakup of the global nanosatellite and microsatellite market based on the application?
What is the breakup of the global nanosatellite and microsatellite market based on the end-use sector?
What are the key regions in the global nanosatellite and microsatellite market?
Who are the key companies/players in the global nanosatellite and microsatellite market?