Global Nano and Microsatellite Market 2023-2030

Description

List of Tables

Global Nano and Microsatellite Market Size, Share & Trends Analysis Report by Application (Communication and Navigation, Earth Observation, Scientific Research, Space Observation, and Others), by Orbit Class (Geostationary Orbit (GEO), Sun-Synchronous Orbit (SSO), Polar Orbit , and Others), and by End-User (Commercial Sector, Governmental and Institutional Users, Military, and Civil), Forecast Period (2023-2030)

The global nano and microsatellite market is anticipated to grow at a CAGR of 23.3 % during the forecast period (2023-2030). The market's growth is attributed to increasing improved capabilities and technological advances. Miniaturization advances have increased SmallSat capabilities, making them viable for a wide range of applications previously reserved for larger satellites. According to the National Aeronautics and Space Administration (NASA), in May 2022, the demand for launching SmallSats was high, accounting for more than 94.0% of all spacecraft launched. This trend has been growing since 2012, when SmallSats represented more than 82% of all spacecraft. With more SmallSat and CubeSat constellations currently being planned, the demand for launching SmallSats is expected to continue to increase. Overall, of the more than 1,849 spacecraft launched in 2021, more than 1,700 had a mass of less than 600kg. These SmallSats made up more than 16% of the total mass.

Segmental Outlook

The global nano and microsatellite market is segmented based on the application, orbit class, and end-user. Based on the application, the market is sub-segmented into communication and navigation, earth observation, scientific research, space observation, and others. Based on the orbit class, the market is sub-segmented into GEO, SSO, polar orbit, and others. Further, based on end-user, the market is sub-segmented into commercial sector, governmental and institutional users, military, and civil. Among the end-user, the commercial sector sub-segment is expected to capture a significant portion of the market share. The growth is attributed to the increased communication, broadcasting, and navigation operations globally. For instance, in March 2021, Open Cosmos launched 2 commercial satellite, one is projected to grow Lacuna Space's IoT constellation, that employs LoRaWAN, while the other serves as the first satellite of 5G IoT space telecom provider Sateliot. Satellites provide IoT capabilities and connectivity throughout the globe, including distant locations, and prove essential in monitoring the environment, biodiversity, maritime logistics, and off-shore infrastructure.

The Earth Observation Sub-Segment is Anticipated to Hold a Considerable Share of the Global Nano and Microsatellite Market

Among the application, the earth observation sub-segment is expected to hold a considerable share of the global Nano and Microsatellite market. The segmental growth is attributed to the data and insights demand. The growing global demand for specific Earth observation data for a variety of applications, including environmental monitoring, disaster response, and resource management, is driving the demand for advanced satellite technology. For instance, in November 2022, The Indian Space Research Organization (ISRO) launched Earth Observation Satellite - 06 (EOS-06) and eight nano satellites. The eight nano satellites includes ISRO Nano Satellite-2 for Bhutan (INS-2B), Anand, Astrocast (4 satellites), and two Thybolt satellites. The INS-2B spacecraft have two payloads namely NanoMx and APRS-Digipeater.

Regional Outlook

The global nano and microsatellite market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Europe is anticipated to hold a prominent share of the market across the globe, owing to the provisions of the small satellite services sector. With the ongoing technological advancements and the availability of appropriate investment and finance, the number of new services has steadily increased, followed by the software and data processing available in the region.

Global Nano and Microsatellite Market Growth by Region 2023-2030

Source: OMR Analysis

The North America Region is Expected to Grow at a Significant CAGR in the Global Nano and Microsatellite Market

Among all regions, the North America region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the rising broadband internet access initiatives across the region. Communities that are underserved, deployment of satellite constellations by private enterprises attempts to bridge the digital divide, offering high-speed internet access to isolated and rural areas lacking appropriate connectivity. According to the US Government Accountability Office, in September 2022, in between 2015 and 2022, the number of active satellites increased from 1,400 to 5,500, representing an almost 4 times increase. Experts predict that by the end of the decade this number reach over 58,000, representing an increase of over 10 times the current number of active satellites. This rapid growth is being driven by the launch of multiple large constellations of satellites by private companies, in order to provide important services such as broadband internet access to underserved rural communities.

Market Players Outlook

The major companies serving the global nano and microsatellite market include Axelspace Corp., Capella Space Corp., China Aerospace Science and Technology Corp.(CASC), German Orbital Systems GmbH, GomSpace A/S, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, Kongsberg Defense & Aerospace acquired Lithuanian smallsat mission integrator and bus manufacturer NanoAvionics. It additionally promises to have items and technology for the production of small satellites.

The Report Covers:

Market value data analysis of 2022 and forecast to 2030.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global nano and microsatellite market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies. Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2027949

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
3.2. AAC Clyde Space AB
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. ALBA ORBITAL LId.
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Astrocast
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. Key Strategy Analysis

4. Market Segmentation

4.1. Global Nano and Microsatellite Market by Application
- 4.1.1. Communication and Navigation
- 4.1.2. Earth Observation
- 4.1.3. Scientific Research
- 4.1.4. Space Observation
- 4.1.5. Others (Education and Technology Demonstration)
4.2. Global Nano and Microsatellite Market by Orbit Class
- 4.2.1. Geostationary Orbit (GEO)
- 4.2.2. Sun-Synchronous Orbit (SSO)
- 4.2.3. Polar Orbit
- 4.2.4. Others (Low Earth Orbit (LEO), and Medium Earth Orbit (MEO))
4.3. Global Nano and Microsatellite Market by End-User
- 4.3.1. Commercial Sector
- 4.3.2. Governmental and Institutional Users
- 4.3.3. Military
- 4.3.4. Civil

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Axelspace Corp.
6.2. Capella Space Corp.
6.3. China Aerospace Science and Technology Corp.(CASC)
6.4. German Orbital Systems GmbH
6.5. GomSpace A/S
6.6. HawkEye 360, Inc.
6.7. ICEYE Oy
6.8. Kleos Space SA
6.9. LeoStella, LLC
6.10. NanoAvionics
6.11. OHB System AG
6.12. Planet Labs PBC
6.13. Rocket Lab USA, Inc.
6.14. Satellogic
6.15. SpaceNews
6.16. Spire Global, Inc.
6.17. Terran Orbital Corp.
6.18. Virgin Red Ltd.