According to a new research published by Polaris Market Research the Nanosatellite and Microsatellite Market is anticipated to reach over USD 6,111.8 million by 2026. In 2017, the Nanosatellite and Microsatellite segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the market.

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There has been a rising demand of earth observation services among various sectors such as agriculture, energy, civil engineering, oil and gas, and defense. Growing use of these satellites in defense sector would boost the growth of Nanosatellite and Microsatellite Market. Advancements in microelectronics such as light weight apertures, antennas, panels, transreceivers, control sensors and actuators, and multi spectral imagers would increase the efficiency and processing power of these satellites and make it easy to assemble and test, reducing the complexities associated with heavy satellites.

In 2017, by indication, the cancer segment dominated the market in terms of revenue, wherein fully-human monoclonal antibodies held a major share of the market. In terms of geography, North America accounted for the majority share in the Nanosatellite and Microsatellite Market.

Following are the Top Key Players in Nanosatellite and Microsatellite Market: –

• Lockheed Martin Corporation
• Planet Labs Inc.
• Sierra Nevada Corporation
• Raytheon Company
• Clyde Space, Inc.
• SpaceQuest Ltd.
• Surrey Satellite Technology Limited
• Vector Space Systems
• Tyvak Inc.
• The Boeing Company
• GomSpace Group AB
• Harris Corporation
• Thales Group

The adoption of Nanosatellite and Microsatellite in the commercial sector has increased tremendously over the past few years owing to miniaturization of bulky satellite components, reduced costs, and standardization of satellite parts. In the commercial sector, these satellites are used in forestry, agriculture, energy, civil engineering, archaeology, insurance, and media and entertainment among others. These satellites are used for obtaining high-resolution earth imaging, space-based internet, and communication services. Planet, a company based in U.S., has a constellation of 36 small satellites in orbit, and offers high resolution imaging to consumers in the commercial sector. Other companies such as Skybox, Digital Globe, and O3B offer services such as real time satellite imaging, telecommunication, and space-based internet through these satellites.

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Cubesat technology is growing at a rapid rate. CubeSats are a class of research spacecraft called nanosatellites. Cubesats are miniaturized satellites with mass between 1-3 kg.  CubeSats are developed to standard dimensions (Units or “U”) of 10x10x11. They can be 1U, 2U, 3U, or 6U in size, and typically weigh less than 1.33 kg (3 lbs) per U. CubeSats are widely used by academia and research, and would constitute around 30% of total nano satellite market during the forecast period. Nano satellites in the range of 4-6 kg would constitute around 60% of the nano-satellite market during the forecast period owing to its increasing applications in remote sensing, earth observation, and technology development.

North America is expected to dominate the market throughout the forecast period. Rise in applications of Nanosatellite and Microsatellite in agriculture, real estate, defense, and government sectors in the North American region is the major driver for market growth. The affordable price of these satellites also accelerates the penetration in the commercial sector. Rise in investment in the defense sector, along with technological advancement in telecommunication industry, is expected to drive the Nanosatellite and Microsatellite Market growth during the forecast period. Use of high-resolution imaging, and communication services for border security and monitoring high-risk situation by federal agencies, government, and non-government organizations are expected to raise the market investment for these services.

TOC of Nanosatellite and Microsatellite Market:

Chapter 1. Overview and Scope

Chapter 2. Market Summary

Chapter 3. Nanosatellite and Microsatellite Market Size and Forecast

Chapter 4. Dynamics and Segmentation

Chapter 5. Detailed Insight on Key Company

Chapter 6. Research Methodology and Reference

Chapter 7. Competitive Landscape

TOC Continued……!!!