The global nano and microsatellite market is anticipated to grow at a CAGR of 23.3 % during the forecast period (2024-2031). Small satellites, additionally known as nano and microsatellites, offer cost-effective solutions to various industries. These satellites can be developed quickly and deployed rapidly, providing global coverage and increased accessibility to remote areas. Applications of small satellites include agriculture, urban planning, disaster management, communication and connectivity, space exploration, climate studies, technology testing and demonstration, and commercial and defense applications. Furthermore, the market’s growth is attributed to growing demand for data and connectivity across the globe. The growing need for data, connectivity, Earth observation, and IoT services drives the need for fragile satellite constellations to provide globally accessible coverage and data services. For instance, in July 2023,Space Flight Laboratory (SFL) launched and orbital deployment of the Telesat LEO 3 demonstration microsatellite at 1:27 UTC, furthermore LEO 3 is the 13th successful deployment of a LEO satellite, launched from New Zealand by the Rocket Lab Electron launch vehicle. SFL developed a microspace mission.
Furthermore, OQ Technology’s “Tiger-3” payload is designed to meet the increasing demand for 5G IoT/M2M communication, that provide global connectivity for machine-to-machine communication. This in turn is driving the need for small satellite constellations. In April 2022, MP42 is NanoAvionics’ launched it has been developed on one of the industry’s first commercially available modular microsatellite buses. The MP42 mission is a rideshare mission that is part of the company’s ongoing program. It can accommodate numerous payloads, including OQ Technology’s “Tiger-3,” that’s add another satellite to its 5G IoT/M2M (machine-to-machine) communication constellation, and VeoWare’s RW500 fully integrated reaction wheel.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By System
- By Product
- By End-User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes Axelspace Corp., Capella Space Corp., China Aerospace Science and Technology Corp.(CASC), German Orbital Systems GmbH, GomSpace A/S, and others.
Nano and Microsatellite Market Report Segment
By Application
- Communication and Navigation
- Earth Observation
- Scientific Research
- Space Observation
- Others (Education, and Technology Demonstration)
By Orbit Class
- Geostationary Orbit (GEO)
- Sun-Synchronous Orbit (SSO)
- Polar Orbit
- Others (Low Earth Orbit (LEO), and Medium Earth Orbit (MEO))
By End-User
- Commercial Sector
- Governmental and Institutional Users
- Military
- Civil
A full Report of Nano and Microsatellite Market is Available @ https://www.omrglobal.com/industry-reports/nano-and-microsatellite-market
Nano and Microsatellite Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Axelspace Corp.
- Capella Space Corp.
- China Aerospace Science and Technology Corp.(CASC)
- German Orbital Systems GmbH
- GomSpace A/S
- HawkEye 360, Inc.
- ICEYE Oy
- Kleos Space SA
- LeoStella, LLC
- NanoAvionics
- OHB System AG
- Planet Labs PBC
- Rocket Lab USA, Inc.
- Satellogic
- SpaceNews
- Spire Global, Inc.
- Terran Orbital Corp.
- Virgin Red Ltd.
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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