The cost to build a nano or micro satellite is almost negligible in comparison to the traditional large-scale satellite. This is one of the primary reason driving the market. Due to this reason, many venture capitalists are investing in startups in space technology. Moreover, these miniaturized satellites mostly use the hardware and software already developed and used by the tech industry. Companies are entering the market with ease and offer diverse on-demand services. Thus, the possibilities for new applications and products & services are further widening. For instance, currently, many private players are providing internet-based space exploration to the general public. Diminishing manufacturing and launching costs have resulted in a rise in upcoming launches, worldwide, by, both militaries as well as private conglomerates for earth observation, surveillance, and communication applications.
Too many satellites in orbit
Nano and micro satellites, currently, do not have a deorbiting system, due to size and weight constraints. However, with thousands of satellites in orbit, this factor might create issues for the market. Various international agencies, such as the FCC, the UN, and the IADC, have proposed mitigating guidelines that state the importance of deorbiting.
The commercial and civilian markets for nano- and micro satellites hold the largest share and have scope for high growth during 2018-2023 (the forecast period). The North America is projected to have the fastest growing market, followed by APAC and EMEA.
Major players: DAURIA AEROSPACE, AIRBUS, NORTHROP GRUMMAN, SPACEQUEST, GEOOPTICS, SIERRA NEVADA amongst others.
Reasons to Purchase this Report:
• The report analyses how the increasing applications in earth’s observation will drive the global nano and micro satellite market.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• Study on the product type that is expected to dominate the market.
• Study on the regions that are expected to witness fastest growth during the forecast period.
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet i(in excel).
Customization of the Report:
• This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.