Nano satellite market is expected to reach USD 1,336.9 Million in 2030 and register a revenue CAGR of 20.4% over the forecast period, Rise in demand for Earth observation related applications and increasing number of aeronautics, communications, and satellite development companies are factors driving global nano satellite market revenue growth.
Global Nano satellite Market research report published by Emergen Research describes in detail the vital aspects of the Nano satellite market on a global and regional level. The report offers a comprehensive assessment of recent technological developments, product advancements, current and emerging trends, key statistical data, forecast estimation, and major companies operating in the market.
Nano satellites are miniaturized artificial satellites that weigh less than 10kgs. Nano satellites are more convenient and take less time to build than convectional satellites owing to smaller size. Nano satellites are launched at lower altitudes and cost of launching is also relatively lower. These devices travel at high speed and circle the Earth in a polar orbit. Nano satellites are used for purposes such as remote sensing, land observation, and communication, among others.
Global nano satellite market growth is hampered by factors such as limited access to space and stringent regulations by government agencies and regulatory bodies in countries across the globe. In addition, delay in propagation and shorter operational lifetime are other factors expected to hamper market growth to some extent during the forecast period.
The research study presents an industry-wide summary of the Nano satellite market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global Nano satellite research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.
Key Highlights From the Report
In December 2021, Redwire Corporation announced a three-year supplier agreement with Terren Orbital, which is a global leader and pioneer in the development, innovation and operation of small and nano satellites and Earth observation solutions. With this agreement, Redwire Corporation will deliver a wide range of advanced components and solutions to Terran Orbital, which will be used in small and nano satellite manufacturing and service offerings.
Earth observation and remote sensing segment accounted for significantly large revenue share in 2020 owing to ability of these satellites to gather information over large areas, which will help to characterize natural features or physical objects on the ground.
Government segment accounted for moderate revenue share in 2020 and is expected to register a rapid growth rate during the forecast period. Governments of various countries across the globe use real-time data collected from nano satellites for various operations such as scientific research, biological experiments, and others.
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Leading Players Profiled in the Report:
ACC Clyde Space, GomSpace A/S, ISISPACE Group, Israel Aerospace Industries (IAI) Ltd., Lockheed Martin Corporation, Alen pace, Axelspace Corporation, NanoAvionics, Planet Labs PBC, SRM Institute of Science and Technology, Sierra Nevada Corporation, EnduroSat, Sky and Space Global Ltd., and The Boeing Company.
The report analyzes the market based on different categories such as product types, end-user applications, and leading geographical regions. It offers key insights into the factors that are expected to influence the growth of the segments and sub-segments. EIN Newswire