Nano Satellite Market Size, Share, Growth, Forecast 2030

The Global Nano Satellite Market accrued earnings worth approximately 3.01 (USD Billion) in 2021 and is predicted to gain revenue of about 7.02 (USD Billion) by 2028, is set to record a CAGR of nearly 22.1% over the period from 2022 to 2028.

The study provides assessment and analysis of the Nano Satellite Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Nano Satellite Market: Overview

Deployment of large number of Nano satellite constellations depends on significant cost reductions and is projected to be in orbit within next few years. Reportedly, Nano satellite refers to tiny artificial satellites that weigh between 1 to 10 kgs and are of size of human hand. These satellites travel at higher speeds and are utilized for myriad purposes including remote sensing, communications, and land observations. Moreover, they encircle the earth in polar orbit and always operate in same way as conventional satellite at reduced costs. Reportedly, in beginning, Nano satellites were developed for research projects. However, cost-effective aspect of Nano satellite technology has attracted entrepreneurs in countries such as Australia who are trying to build nanofabrication capability.

Furthermore, these products are light in weight, easy to build, test, & launch, and obey Moore’s law. They are capable of performing complex computational operations. Nano satellites comprise of various kinds of software, hardware, and other data processing components. For the record, Nano satellites are utilized for navigation, scientific research, and geographical mapping. Data derived from Nano satellites can be easily processed and utilized for carrying out defense operations, biological tests, and earth observations along with aiding various other space applications. Large numbers of Nano satellite constellations are deployed in low earth orbits below 2,000 kilometers

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Nano Satellite Market: Growth Drivers

With Nano satellite having very low latency, it is massively used for purpose of communication. This has benefitted communications sector, thereby creating lucrative growth avenues for Nano satellite market. Breakthroughs in miniaturization of technologies across slew of industries will boost expansion of Nano satellite market. Low cost of producing these satellites has resulted into its humungous demand. However, they require frequent replacements as their lifespan ranges from nearly one year to three years at the most. This has hindered growth of Nano satellite market.

Need of real-time intelligence supporting internet of things is changing way the globe operates as we are moving towards data-based techniques. Furthermore, terrestrial wireless communication systems including WiMax, 3G, WIFI, and 4G can function well over medium range distances, but cannot cover either entire country or continent. Hence, for overcoming these issues, governments across globe are funding space infrastructure projects as the strategic move will assist in delivering additional data communication to remote areas with Nano satellites acting as strong communication link. All these aforementioned factors will drive market trends.

Nano Satellite Market: Report Scope

Nano Satellite Market: Competitive Landscape

Some of key participants have lucratively influenced growth of Nano satellite industry and are likely to do so in foreseeable future. They include Lockheed Martin Corporation, Raytheon Technologies Corporation, AAC Clyde Space, ISISPACE (Innovative Solution in Space), Sierra Nevada Corporation, Planet Labs PBC, Terra Bella (formerly Skybox Imaging), RUAG Holding, SpaceQuest, Ltd., and GomSpace.

Nano Satellite Market: Regional Landscape

North America Nano Satellite Market Size To Expand By Leaps Over 2022-2028

Growth of regional market over forecasting timeframe is subject to large-scale use of Nano satellites in commercial, defense, and civil applications for carrying out low-cost functions including signal monitoring, geo-location, and communications. Technological breakthroughs including IoT, AI, and robotics can transform rate of regional market growth.

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Nano Satellite Market: Competitive Space

The global Nano Satellite market profiles key players such as:

• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• AAC Clyde Space
• ISISPACE (Innovative Solution in Space)
• Sierra Nevada Corporation
• Planet Labs PBC
• Terra Bella (formerly Skybox Imaging)
• RUAG Holding
• SpaceQuest, Ltd
• GomSpace

The global Nano Satellite Market is segmented as follows:

By Solution

• Hardware
• Software
• Data Processing Services

By Mass

• 1 Kg To 10 Kg

By Application

• Communication
• Earth Observation & Remote Sensing
• Scientific Research
• Biological Experiment
• Technology Demonstration & Verification
• Academic Training
• Reconnaissance & Mapping
• Navigation

 By End-User

• Government
• Civil
• Commercial
• Defense
• Infrastructure
• Energy & Utilities
• Maritime & Transportation

 By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa