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Nano and Micro Satellite Market Global Research Report 2019 Analysis & Forecast to 2023
Market Research Future added New Report Named "Global Nano and Micro Satellite Market Research Report- Forecast 2023" to its Database
Nano and microsatellites are downsized forms of satellites and weigh between 1-10 kg and 10-100 kg, respectively. They are the fastest growing market in the satellite industry. 'CubeSat' is one of the most popular types of downsized satellites in this market.
Utilization of miniaturized satellites for military and defense applications has been one of the major drivers for the market. Along with the growth of UAVs and modern equipment, the military also needs more data, bandwidth, and reliable communication infrastructure, which can be fulfilled by the use of nano and microsatellites constellations. The demand for these satellites for commercial applications, such as GPS services and the internet, has also increased. The low cost required to build and operate these satellites is also advantageous for the growth of the market.
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The nano and microsatellites are utilized for various applications, such as earth observation/remote sensing, science/R&D, communications, and military reconnaissance purposes. The utilization of UAVs and modern equipment by military forces has increased. Many of these UAVs need real-time flight and surveillance data via satellites. It is not possible to meet the growing demand for data and bandwidth through the utilization of a limited number of military and defense satellite systems. Thus, military and defense forces are now utilizing commercial satellite infrastructure for increased bandwidth requirements. Due to this, there is an increasing use of nano and microsatellites, as a large portion of such satellites could be launched at comparatively lower costs while providing required services.
The earth observation and remote sensing segment accounted for 71 nano and microsatellites, in 2014. It was followed by the science/R&D and communications segments, which accounted for 48 and 16 nano and microsatellites, respectively. The military reconnaissance segment accounted for 10 nano and microsatellites, in 2014. Nano and microsatellites are primarily utilized by commercial organizations, civil/government bodies, and military/defense.
The cost to build nano and microsatellites have largely reduced, however, launching at the orbit still occupies a significant amount of cost. Development of reusable space launch vehicle will drastically reduce the launch cost.
Numerous rocket launches since the beginning of space exploration have already left a substantial amount of debris around the earth's orbit, which is a major risk to space missions as impact from debris as small as 1cm can also result in the destruction of the system on impact.
One of the ways to dispose of a satellite in LEO, after the end-of-life, is to deorbit. In some cases, the ballistic coefficient and altitude of the satellite are such that it will naturally deorbit after a certain period. In many other cases, the satellite needs to be deorbited using a dedicated deorbiting system.
The global nano and microsatellite market is expected to grow at a CAGR of over 23%, during the forecast period of 2018-2023.
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There is increased demand for nano and microsatellites from the civil/government and commercial and military sectors. Europe and North America have traditionally developed and launched most satellites. The growth in North America nano and microsatellite market is mainly driven by the presence of key players, such as Sierra Nevada Corporation, Planet Labs Inc., and others. They are carrying out various activities which are boosting the growth of the market. However, the growing need for satellite-based infrastructure in emerging countries, such as China and India, has contributed to the development of the market in APAC. The best example of low-cost satellite launching technique is the launch of PSLV - C28, which was launched in 2015, and PSLV - XL - C38 has been recently launched by the Indian Space Research Organization (ISRO), in the year 2017.
Upgrading the technology of nano and microsatellites has not only facilitated developing countries to grow their satellite infrastructure but have also opened up revolution in the markets.
The U.S. and Canada are the major markets in the Americas for space-based programs. Both the countries have an advanced infrastructure and are involved in various space programs. Companies, such as NASA and SpaceX, are developing new systems that are expected to meet the growing demand for nano and microsatellites in the future.
The market in Europe has high technological capabilities and the needed infrastructure for space launch missions. Russia, Ukraine, Italy, France, Germany, Spain, the U.K, and Norway are the leading markets in this region. The ESA largely contributes to the development of satellite-based infrastructure and space launch missions.
Israel, Saudi Arabia, and UAE are few of the major markets in the Middle East. Africa is currently a small market and lacks the technological capabilities and infrastructure.
The key players for the global nano and microsatellite market are Boeing Space Systems (U.S.), Innovative Solution in Space (ISIS) Group (Netherland), GomSpace A/S (Denmark), Aerospace Corporation (U.S.), Lockheed Martin Corporation (U.S.), Sierra Nevada Corporation (U.S.), Ruag Group (Switzerland), GeoOptics (Colorado), Planet Labs (U.S.), and Surrey Satellite Technology (U.K).
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