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Polaris Market Research
www.polarismarketresearch.com
Likhil Gajbhiye
likhil.g@polarismarketresearch.com
1-646-568-9980
30 Wall Street 8th Floor New York City, NY 10005 United States


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Nanosatellite and Microsatellite Market Size, Analytical Overview, Growth Factors and Trends to 2026
Global Nanosatellite and Microsatellite Market by Manufacturers, Countries, Type and Application, forecast to 2025 Report “Provides In-Depth Analysis Of Parent Market Trends

BriefingWire.com, 9/13/2018 - According to a new research published by Polaris Market Research the worldwide Nanosatellite and Microsatellite Market is anticipated to reach over USD 6,111.8 million by 2026. In 2017, the nano satellite segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global Nano Satellite and Micro Satellite market.

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Nano satellites are used in civil, government, defense, and commercial sectors for earth observation and telecommunication applications. Organizations are increasingly adopting nano and micro satellites for technology demonstration, and scientific research and experimentation. The growing commercial sector, along with low costs associated with these satellites drive the market. There has been a rising demand of earth observation services among various sectors such as agriculture, energy, civil engineering, oil and gas, and defense.

Cubesat technology is growing at a rapid rate. CubeSats are a class of research spacecraft called nanosatellites. Cubesats are miniaturized satellites with mass between 1-3 kg. CubeSats are developed to standard dimensions (Units or “U”) of 10x10x11. They can be 1U, 2U, 3U, or 6U in size, and typically weigh less than 1.33 kg (3 lbs) per U. CubeSats are widely used by academia and research, and would constitute around 30% of total nano satellite market during the forecast period. Nano satellites in the range of 4-6 kg would constitute around 60% of the nano-satellite market during the forecast period owing to its increasing applications in remote sensing, earth observation, and technology development.

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The adoption of nano and micro satellites in the commercial sector has increased tremendously over the past few years owing to miniaturization of bulky satellite components, reduced costs, and standardization of satellite parts. In the commercial sector, these satellites are used in forestry, agriculture, energy, civil engineering, archaeology, insurance, and media and entertainment among others. These satellites are used for obtaining high-resolution earth imaging, space-based internet, and communication services. Planet, a company based in U.S., has a constellation of 36 small satellites in orbit, and offers high resolution imaging to consumers in the commercial sector.

Top key player:

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

Thales Group among others.

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North America is expected to dominate the market throughout the forecast period. Rise in applications of nano and micro satellites in agriculture, real estate, defense, and government sectors in the North American region is the major driver for market growth. The affordable price of these satellites also accelerates the penetration in the commercial sector.

 
 
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