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Nanosatellite and Microsatellite Market

Global Nanosatellite and Microsatellite Market Size, Analysis: By Component: Solution, Services; By Type: Microsatellites, Nanosatellites; By Orbit: Non-Polar Inclined, Polar Orbit, Sun-Synchronous; By Frequency: S-Band, UHF-Band, VHF-Band, X-Band, Others; By Application; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Nanosatellite and Microsatellite Market Size

The global nanosatellite and microsatellite market reached approximately USD 3.09 billion in 2023. The market is estimated to grow at a CAGR of 18.5% in the forecast period of 2024-2032, reaching a value of around USD 14.40 billion by 2032.

 

Global Nanosatellite and Microsatellite Market Trends

Nanosatellites and microsatellites are types of miniature satellites that weigh less than 100 kg and are more affordable compared to conventional satellites. Some of their common applications include space research, communication, navigation, observation, and remote sensing, among others.

 

  • The burgeoning popularity of CubeSats, a class of miniature satellites, which has low production time and cost and provides a range of services for different organisations and individuals, is one of the key trends of nanosatellite and microsatellite market.
  • Increased usage of commercial off-the-shelf components (COTS), which are cost-effective and facilitate faster development of micro and nanosatellites, is another crucial trend aiding the market expansion.
  • The rising trend of sustainability has led satellite providers to adopt eco-friendly satellite manufacturing methods as well as meet the conventional guidelines set by governments to prevent micro and nano satellites from becoming space debris in the future.
  • Growing collaborations and partnerships between leading technology companies and market players for the integration of high-end technology into satellite products and providing promising business prospects also contribute to the nanosatellite and microsatellite market value.

 

Recent Developments

The Indian Space Research Organization (ISRO) made history on August 20, 2022, when it successfully launched the first Small Satellite Launch Vehicle (SSLV), transporting a student satellite and an earth observation satellite from the Sriharikota spaceport. Small satellite launch vehicles (SSLVs) will be launched by ISRO for the first time to deliver satellites to low-Earth orbit. The SSLV was created by the Indian Space Research Organization to deploy low-Earth orbit satellites (LES) that weigh less than 500 kg. These satellites are highly preferred for uses including earth observation and internet access in remote locations.

 

Industry Outlook

The military sector has been using MEO and GEO satellites more frequently in recent years because of their benefits, which include stronger signals, better data transfer and communications capabilities, and a larger coverage area, thereby increasing the nanosatellite and microsatellite industry revenue. For example, less than a year after being given the go-ahead, Millennium Space Systems, a Boeing company completed the Missile Track Custody (MTC) space vehicle Critical Design Review (CDR). For MTC Epoch 1, Millennium Space Systems will now supply six spacecraft. This covers an increased Other Transaction Authority (OTA) for vehicles four through six as well as the original contract option for two additional vehicles. The goal of the Missile Track Custody program is to protect against advanced threats such as hyperglide vehicles and intercontinental ballistic missiles.

 

As per a report by NASA, a total of 2,510 spacecraft were launched in 2022, of which 96% and 25%, respectively, were SmallSats with masses under 600 kg and 200 kg. In the last ten years, about 40% of all spacecraft weighing less than 200 kg have been launched. Operators like SpaceX, OneWeb, and Planet have expanded their SmallSat and CubeSat constellations, which has resulted in a notable increase in the number of SmallSats launched in the last few years. The need for SmallSat launches is anticipated to increase steadily as more missions are being planned.

 

As per nanosatellite and microsatellite industry analysis,1,743 smallsats were launched in 2021. Ninety-four percent of all spacecraft launched in the year were smallsats. Approximately 80% of these smallsats were devoted to communication purposes. The remaining 9% went into technology development and remote sensing, with the remaining 1% going toward scientific and other uses. In 2021, small satellites accounted for 43% of all spacecraft mass. Also, 37% of all smallsat launches over the past ten years took place in 2021, with 69% of launches occurring in 2020 and 2021 combined. In 2021, 80 launches were made with smallsats aboard. Furthermore, mini or micro launch vehicles were used for 6% of smallsat launches in 2021.

 

By the end of 2021, it was conservatively predicted that SpaceX Starlink and OneWeb alone will have launched 1,016 and 316 LEO satellites, respectively.

 

Global Nanosatellite and Microsatellite Industry Segmentation

Based on component, the market is divided into solution and services. On the basis of type, the market is bifurcated into microsatellites and nanosatellites. Based on orbit, the market is classified into non-polar inclined, polar orbit, and sun-synchronous.

 

On the basis of frequency, the market is categorised into S-band, UHF-band, VHF-band, and X-band, among others. The nanosatellite and microsatellite market segmentation, based on application, includes communication and navigation, scientific research, earth observation/remote sensing, and technology and academic training.

 

On the basis of end use, the market is segmented into defence and security, government, commercial, and civil. The major regional markets of nanosatellite and microsatellite include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Nanosatellite and Microsatellite Market Share

Earth observation/remote sensing are increasingly using nanosatellites and microsatellites due to rapid growth of meteorological observation projects

As per nanosatellite and microsatellite market dynamics and trends, earth observation/remote sensing occupies a significant portion of the market share, due to the rapid growth of meteorological and earth observation projects. Increased government investments in the earth observation sector to better understand key environmental factors also contribute to the segment’s growth.

 

Meanwhile, communication and navigation applications are also expected to gain sizeable growth in the upcoming years, owing to the rising usage of nanosatellites and microsatellites in improving the mobile and broadcast services of a limited area.

 

Nanosatellite and Microsatellite Market Regional Analysis

As per the nanosatellite and microsatellite market analysis, North America accounts for a substantial share of the global market, owing to the increased spending by the region’s governments in the space sector. The rapid rise of space research missions in the USA and Canada also offers lucrative nanosatellite and microsatellite market opportunities.

 

The growing utilisation of micro and nano satellites by military and defence, telecommunication, and research organisations, among other end-use sectors, is another prominent factor driving the market expansion.

 

Rising Demand for Cost-Effective Satellite Solutions and Technological Advancements Drive Nanosatellite and Microsatellite Market Growth

  • Increasing demand for cost-effective and efficient satellite solutions for communication, Earth observation, and scientific research significantly boosts the market for nanosatellites and microsatellites.
  • Technological advancements in miniaturization, propulsion systems, and payload capabilities enhance the functionality and performance of nanosatellites and microsatellites.
  • The growing adoption of nanosatellites and microsatellites by government agencies, private companies, and academic institutions for various applications drives nanosatellite and microsatellite demand growth.
  • Investments in space exploration and satellite-based services by emerging economies contribute to the market growth.

 

Regulatory Challenges, and Orbital Debris Concerns Impact Market Dynamics

  • Navigating complex regulatory frameworks and obtaining necessary licenses and approvals for satellite launches pose significant challenges for market players.
  • Concerns related to orbital debris and the long-term sustainability of space activities necessitate the development of responsible deployment and disposal practices.
  • Ensuring the reliability and longevity of nanosatellites and microsatellites in harsh space environments requires continuous innovation and quality assurance, affecting the nanosatellite and microsatellite demand forecast.

 

Constellation Deployments, Inter-Satellite Communication, and Commercialization Offering New Growth Opportunities to the Markey Players

  • The trend towards deploying satellite constellations for global coverage and improved connectivity supports the nanosatellite and microsatellite market revenue.
  • Advances in inter-satellite communication technologies enhance the capabilities of satellite networks and enable more complex mission profiles.
  • Growing commercialization of space activities, including satellite-based services and data analytics, creates new market opportunities for nanosatellites and microsatellites.
  • Increasing collaborations between space agencies, private companies, and research institutions foster innovation and expand the scope of satellite applications.

 

Economic Impact, Competitive Pressures, and Technological Innovations Shape the Market Landscape

  • The economic impact of the nanosatellite and microsatellite industry, including job creation, investment in technology, and growth of ancillary services, supports broader economic development.
  • Intense competition from established satellite manufacturers and new market entrants drives the need for continuous innovation, cost reduction, and strategic differentiation, thus impacting the nanosatellite and microsatellite market share.
  • Rapid technological innovations in satellite design, materials, and launch technologies enhance market potential and enable new applications.
  • Market volatility, influenced by regulatory changes, geopolitical factors, and technological advancements, requires agile business strategies and risk management.

 

Key Players in the Global Nanosatellite and Microsatellite Market and Their Strategic Initiatives

  • GomSpace Group AB
  • Kongsberg Gruppen ASA (NanoAvionics)
  • Axelspace Corporation
  • Sierra Nevada Corporation
  • Terran Orbital Corporation (Tyvak International)
  • AAC Clyde Space AB
  • Innovative Solutions In Space B.V. (ISIS)
  • OHB SE
  • Surrey Satellite Technology Ltd. (SSTL)
  • EXOLAUNCH GmbH
  • Others

 

Lockheed Martin Corporation

  • Advanced Satellite Technologies: Develops cutting-edge nanosatellite and microsatellite technologies for various applications, including Earth observation, communication, and defence and increasing the nanosatellite and microsatellite demand.
  • Strategic Partnerships: Forms alliances with governmental and commercial entities to co-develop satellite solutions, enhancing its market presence and technological capabilities.

 

Planet Labs Inc.

  • High-Resolution Imaging: Specializes in high-resolution Earth imaging nanosatellites, providing detailed and up-to-date data for various industries, including agriculture, forestry, and urban planning.
  • Data Analytics Integration: Integrates advanced data analytics and AI capabilities into its services, offering clients actionable insights from satellite data.

 

GomSpace Group AB

  • Customized Satellite Solutions: Provides customized nanosatellite and microsatellite solutions tailored to meet the specific needs of clients across different sectors.
  • Focus on Research and Development: Invests in R&D to push the boundaries of satellite technology, exploring new applications and improving existing capabilities is further propelling the growth of the nanosatellite and microsatellite market.

 

Surrey Satellite Technology Limited (SSTL)

  • Cost-Effective Satellites: Focuses on developing cost-effective nanosatellites and microsatellites, making space technology more accessible to a broader range of clients.
  • Commercial and Academic Partnerships: Collaborates with commercial entities and academic institutions to drive innovation and expand its market reach.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Type
  • Orbit
  • Frequency
  • Application
  • End Use
  • Region
Breakup by Component
  • Solution
  • Services
Breakup by Type
  • Microsatellites
  • Nanosatellites
Breakup by Orbit
  • Non-Polar Inclined
  • Polar Orbit
  • Sun-Synchronous
Breakup by Frequency
  • S-Band
  • UHF-Band
  • VHF-Band
  • X-Band
  • Others
Breakup by Application
  • Communication and Navigation
  • Scientific Research
  • Earth Observation/Remote Sensing
  • Technology and Academic Training
Breakup by End Use
  • Defence and Security
  • Government
  • Commercial
  • Civil
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • GomSpace Group AB
  • Kongsberg Gruppen ASA (NanoAvionics)
  • Axelspace Corporation
  • Sierra Nevada Corporation
  • Terran Orbital Corporation (Tyvak International)
  • AAC Clyde Space AB
  • Innovative Solutions In Space B.V. (ISIS)
  • OHB SE
  • Surrey Satellite Technology Ltd. (SSTL)
  • EXOLAUNCH GmbH
  • Others

 

Nanosatellite and Microsatellite Market Report Snapshots

Nanosatellite and Microsatellite Market Size

Nanosatellite and Microsatellite Market Trends

Nanosatellite and Microsatellite Market Share

Nanosatellite and Microsatellite Companies

Nanosatellite and Microsatellite Market Regional Analysis

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
  
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Nanosatellite and Microsatellite Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Nanosatellite and Microsatellite Historical Market (2018-2023) 
    8.3    Global Nanosatellite and Microsatellite Market Forecast (2024-2032)
    8.4    Global Nanosatellite and Microsatellite Market by Component
        8.4.1    Solution
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Services
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Nanosatellite and Microsatellite Market by Type
        8.5.1    Microsatellites
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Nanosatellites
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Nanosatellite and Microsatellite Market by Orbit
        8.6.1    Non-Polar Inclined
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Polar Orbit
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Sun-Synchronous
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global Nanosatellite and Microsatellite Market by Frequency
        8.7.1    S-Band
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    UHF-Band
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    VHF-Band
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    X-Band
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Others
    8.8    Global Nanosatellite and Microsatellite Market by Application
        8.8.1    Communication and Navigation 
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Scientific Research
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Earth Observation/Remote Sensing
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Technology and Academic Training
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
    8.9    Global Nanosatellite and Microsatellite Market by End Use
        8.9.1    Defence and Security
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Government
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Commercial
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Civil
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
    8.10    Global Nanosatellite and Microsatellite Market by Region
        8.10.1    North America
            8.10.1.1    Historical Trend (2018-2023)
            8.10.1.2    Forecast Trend (2024-2032)
        8.10.2    Europe
            8.10.2.1    Historical Trend (2018-2023)
            8.10.2.2    Forecast Trend (2024-2032)
        8.10.3    Asia Pacific
            8.10.3.1    Historical Trend (2018-2023)
            8.10.3.2    Forecast Trend (2024-2032)
        8.10.4    Latin America
            8.10.4.1    Historical Trend (2018-2023)
            8.10.4.2    Forecast Trend (2024-2032)
        8.10.5    Middle East and Africa
            8.10.5.1    Historical Trend (2018-2023)
            8.10.5.2    Forecast Trend (2024-2032)
9    North America Nanosatellite and Microsatellite Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Nanosatellite and Microsatellite Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Nanosatellite and Microsatellite Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Nanosatellite and Microsatellite Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Nanosatellite and Microsatellite Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    GomSpace Group AB 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Kongsberg Gruppen ASA (NanoAvionics) 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Axelspace Corporation 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Sierra Nevada Corporation 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Terran Orbital Corporation (Tyvak International) 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    AAC Clyde Space AB 
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Innovative Solutions In Space B.V. (ISIS) 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    OHB SE 
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Surrey Satellite Technology Ltd. (SSTL) 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    EXOLAUNCH GmbH 
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Nanosatellite and Microsatellite Market: Key Industry Highlights, 2018 and 2032
2.    Global Nanosatellite and Microsatellite Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Nanosatellite and Microsatellite Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Nanosatellite and Microsatellite Historical Market: Breakup by Type (USD Billion), 2018-2023
5.    Global Nanosatellite and Microsatellite Market Forecast: Breakup by Type (USD Billion), 2024-2032
6.    Global Nanosatellite and Microsatellite Historical Market: Breakup by Orbit (USD Billion), 2018-2023
7.    Global Nanosatellite and Microsatellite Market Forecast: Breakup by Orbit (USD Billion), 2024-2032
8.    Global Nanosatellite and Microsatellite Historical Market: Breakup by Frequency (USD Billion), 2018-2023
9.    Global Nanosatellite and Microsatellite Market Forecast: Breakup by Frequency (USD Billion), 2024-2032
10.    Global Nanosatellite and Microsatellite Historical Market: Breakup by Application (USD Billion), 2018-2023
11.    Global Nanosatellite and Microsatellite Market Forecast: Breakup by Application (USD Billion), 2024-2032
12.    Global Nanosatellite and Microsatellite Historical Market: Breakup by End Use (USD Billion), 2018-2023
13.    Global Nanosatellite and Microsatellite Market Forecast: Breakup by End Use (USD Billion), 2024-2032
14.    Global Nanosatellite and Microsatellite Historical Market: Breakup by Region (USD Billion), 2018-2023
15.    Global Nanosatellite and Microsatellite Market Forecast: Breakup by Region (USD Billion), 2024-2032
16.    North America Nanosatellite and Microsatellite Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    North America Nanosatellite and Microsatellite Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Europe Nanosatellite and Microsatellite Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Europe Nanosatellite and Microsatellite Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Asia Pacific Nanosatellite and Microsatellite Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Asia Pacific Nanosatellite and Microsatellite Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Latin America Nanosatellite and Microsatellite Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Latin America Nanosatellite and Microsatellite Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Middle East and Africa Nanosatellite and Microsatellite Historical Market: Breakup by Country (USD Billion), 2018-2023
25.    Middle East and Africa Nanosatellite and Microsatellite Market Forecast: Breakup by Country (USD Billion), 2024-2032
26.    Global Nanosatellite and Microsatellite Market Structure

Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 3.09 billion.

The market is projected to grow at a CAGR of 18.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 14.40 billion by 2032.

The major market drivers are the growing trend of miniaturisation of satellites, rising demand for satellite data, and increased funding for space research by governments.

The key trends of the market include the burgeoning popularity of CubeSats, increased usage of commercial off-the-shelf components (COTS) in micro and nanosatellites, and the rising trend of sustainability.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Different components are solution and services.

The key players in the market are GomSpace Group AB, Kongsberg Gruppen ASA (NanoAvionics), Axelspace Corporation, Sierra Nevada Corporation, Terran Orbital Corporation (Tyvak International), AAC Clyde Space AB, Innovative Solutions In Space B.V. (ISIS), OHB SE, Surrey Satellite Technology Ltd. (SSTL), and EXOLAUNCH GmbH, among others.

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