Executive Summary - Nanosatellite and Microsatellite Market - Global For...
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XX MARKET BY APPLICATION XX
GLOBAL FORECAST TO 2021
NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
TABLE TAB LE OF OF CONTE CONTENTS NTS
1 INTRODUCTION ........................................................................................................ 14 1.1
OBJECTIVES OF THE STUDY ........................................................................................................... 14
1.2
MARKET DEFINITION .....................................................................................................................14
1.3
MARKET SCOPE ............................................................................................................................15 MARKET SEGMENTATION................................................................................................ 1.3.1 SEGMENTATION........................................................................................... ..... 15
1.4
YEARS CONSIDERED FOR THE STUDY ............................................................................................16
1.5
CURRENCY ................................................................................................................................... 16
1.6
STAKEHOLDERS ........................................................................................................................... 17
2 RESEARCH METHODOLOGY............................. ........................................ ...................... ...................... ....................... ....................... ............. 18 2.1
RESEARCH DATA ..........................................................................................................................18 2.1.1
SECONDARY DATA ............................................................ .......................................................................................................... .............................................. 19
2.1.2
PRIMARY DATA ............................................................................................................... 19 2.1.2.1
Breakdown of primaries ............................................................. ..................................................................................... ........................ 20
2.2
Key industry insights....................................................... .......................................................................................... ................................... 20 2.1.2.2 MARKET SIZE ESTIMATION ............................................................................................................22
2.3
RESEARCH ASSUMPTIONS ........................................................................................................... 23
2.4
LIMITATIONS ................................................................................................................................ 23
3 EXECUTIVE SUMMARY .............................................................................................. 24 4 PREMIUM INSIGHTS ................................................................................................ 28 4.1
ATTRACTIVE OPPORTUNITIES IN THE NANOSATELLITE NANOSATELLITE AND MICROSATELLITE MARKET ....................28
4.2
NANOSATELLITE AND MICROSATELLITE MARKET, BY COMPONENT ................................................28
4.3
NANOSATELLITE AND MICROSATELLITE MARKET, BY APPLICATION ................................................ 29
4.4 4.5
NANOSATELLITE AND MICROSATELLITE MARKET, BY VERTICAL AND REGION .................................30 NANOSATELLITE AND MICROSATELLITE MARKET, BY REGION ........................................................30
..................... ...................... ...................... ...................... ................. ...... 31 5 MARKET OVERVIEW AND INDUSTRY TRENDS .......... 5.1
INTRODUCTION ............................................................................................................................31
5.2
EVOLUTION ..................................................................................................................................31
5.3
NANOSATELLITE AND MICROSATELLITE ARCHITECTURE .................................................................32
5.4
MARKET DYNAMICS......................................................................................................................33 5.4.1
DRIVERS ........................................................................................................................ ................................................................................................................... ..... 33 5.4.1.1
Low manufacturing cost of miniature satellites ................................................... 33
5.4.1.2
High demand for miniature satellites in earth observation applications ...................................................................................................... 34
5.4.1.3
Increased investments in nanosatellite & microsatellite technologies ................. 34
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
5.4.2
RESTRAINTS.......................................................... ................................................................................................................... ......................................................... 34 5.4.2.1
5.4.3
5.4.4
Implementation of regulations for an increasing number of satellites being launched ................................................................................................. .............................................................. ................................... 34
OPPORTUNITIES............................................................... ............................................................................................................. .............................................. 35 5.4.3.1
Internet access to areas without broadband connectivity .................................... 35
5.4.3.2
Advancements in space technologies technologies............................................................ ................................................................. ..... 35
5.4.3.3
Increased demand for satellites in various application areas .............................. 35
CHALLENGES ................................................................................................................. ............................................................................................................ ..... 36 5.4.4.1
Lack of dedicated launch vehicles to launch miniature satellites into space....................................................... ................................................................................................................ ......................................................... 36
5.4.4.2
Issues related to space debris............................................................... ............................................................................ ............. 36
6 NANOSATELLITE AND MICROSATELLI MICROSATELLITE TE MARKET, BY COMPONENT ........... ...................... ................. ...... 37 6.1
INTRODUCTION ............................................................................................................................38
6.2
HARDWARE .................................................................................................................................. 39
6.3
SOFTWARE AND DATA PROCESSING ............................................................................................. 39
6.4
SERVICE.......................................................................................................................................40
6.5
LAUNCH SERVICE .........................................................................................................................40
MICROSATELLITE TE MARKET, BY MASS........... ...................... ....................... ................. ..... 42 7 NANOSATELLITE AND MICROSATELLI 7.1
INTRODUCTION ............................................................................................................................43
7.2
1 KG–10 KG (NANOSATELLITE) ..................................................................................................... 44
7.3
11 KG–100 KG (MICROSATELLITE) ............................................................................................... 44
8 NANOSATELLITE AND MICROSATELLITE MARKET, BY APPLICATION APPLICATION............................ ............................ 46 8.1
INTRODUCTION ............................................................................................................................47
8.2
COMMUNICATION ........................................................................................................................ 48
8.3
EARTH OBSERVATION AND REMOTE SENSING ...............................................................................48
8.4
SCIENTIFIC RESEARCH R ESEARCH ................................................................................................................. 49
8.5 8.6
BIOLOGICAL EXPERIMENT ............................................................................................................ 50 TECHNOLOGY DEMONSTRATION DEMONSTRATION AND VERIFICATION......................................................................51
8.7
ACADEMIC TRAINING....................................................................................................................51
8.8
MAPPING AND NAVIGATION ..........................................................................................................52
8.9
RECONNAISSANCE .......................................................................................................................53
9 NANOSATELLITE AND MICROSATELLITE MARKET, BY VERTICAL ........... ...................... ...................... ........... 54 9.1
INTRODUCTION ............................................................................................................................55
9.2
GOVERNMENT .............................................................................................................................. 56
9.3
CIVIL ............................................................................................................................................ 56
9.4
COMMERCIAL ..............................................................................................................................57
9.5 9.6
DEFENSE......................................................................................................................................58 ENERGY & INFRASTRUCTURE........................................................................................................ 58
9.7
MARITIME & TRANSPORTATION .................................................................................................... 59 3
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
10 REGIONAL ANALYSIS................................................................................................ 60 10.1
INTRODUCTION ............................................................................................................................61
10.2
NORTH AMERICA ..........................................................................................................................63
10.3
EUROPE ....................................................................................................................................... 67
10.4
ASIA-PACIFIC (APAC) ....................................................................................................................71
10.5
REST OF THE WORLD (ROW) ..........................................................................................................73
11 COMPETITIVE LANDSCAPE ....................................................................................... 76 11.1
11.2
INTRODUCTION ............................................................................................................................76 11.1.1
VANGUARDS ......................................................... .................................................................................................................. ......................................................... 76
11.1.2
INNOVATORS ................................................................................................................. ................................................................... .............................................. 76
11.1.3
....................................................................................................... ................ 76 DYNAMIC .......................................................................................................................
11.1.4
EMERGING............................................................ ..................................................................................................................... ......................................................... 76
COMPETITIVE BENCHMARKING .....................................................................................................78 11.2.1
PRODUCT OFFERINGS .................................................................................................... ............................................................................ ........................ 78
11.2.2
BUSINESS STRATEGIES .................................................................................................. ............................................................................................. ..... 79
12 COMPANY PROFILES ................................................................................................ 80 (Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, Developments, MnM View)*
12.1
RUAG GROUP ...............................................................................................................................80
12.2
CLYDE SPACE, INC........................................................................................................................84
12.3
GS SWEDEN AB (GOMSPACE) ....................................................................................................... 87
12.4
SIERRA NEVADA CORPORATION.................................................................................................... 91
12.5
TYVAK INC. ...................................................................................................................................95
12.6
LOCKHEED MARTIN CORPORATION ...............................................................................................98
12.7
RAYTHEON COMPANY .................................................................................................................102
12.8
PLANET LABS, INC. .....................................................................................................................106
12.9 12.10
INNOVATIVE SOLUTIONS IN SPACE ..............................................................................................109 SPACEQUEST LTD. ......................................................................................................................112
*Details on Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, MnM View might not be captured in case of unlisted companies.
13 KEY INNOVATORS ................................................................................................... 115 13.1
SKY AND SPACE GLOBAL LTD. .....................................................................................................115
13.2
KEPLER COMMUNICATION, INC. .................................................................................................115
13.3
ELSE SA .....................................................................................................................................116
13.4
AXELSPACE CORPORATION.........................................................................................................116
13.5
DAURIA AEROSPACE ..................................................................................................................116
..................... ....................... ....................... ...................... ...................... ...................... ...................... ....................... ...................... .......... 117 14 APPENDIX.......... 14.1
INDUSTRY EXPERTS ....................................................................................................................117
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
14.2
DISCUSSION GUIDE ...................................................................................................................118
14.3
KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL.......................................122
14.4
INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE .................................................................124
14.5
AVAILABLE CUSTOMIZATIONS.....................................................................................................125
14.6
RELATED REPORTS .....................................................................................................................125
14.7
AUTHOR DETAILS........................................................................................................................126
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
LIST OF TABLES
U
NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY COMPONENT, 2015–2022 (USD MILLION)
38
HARDWARE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)
39
SOFTWARE AND DATA PROCESSING: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)
39
SERVICE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)
40
LAUNCH SERVICE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)
41
NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY MASS, 2015–2022 (USD MILLION)
43
1 KG -10 KG (NANOSATELLITE): NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, REGION, 2015 2015–2022 (USD MILLION)
44
11 KG–100 KG (MICROSATELLITE): NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)
45
TABLE 9
NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY APPLICATION,
TABLE 10
2015-2022 (USD MILLION) COMMUNICATION: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
TABLE 1
TABLE 2
TABLE 3
TABLE 4
TABLE 5
TABLE 6
TABLE 7
TABLE 8
47
48
EARTH OBSERVATION AND REMOTE SENSING: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
49
SCIENTIFIC RESEARCH: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
50
BIOLOGICAL EXPERIMENT: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
50
TECHNOLOGY DEMONSTRATION AND VERIFICATION: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
51
ACADEMIC TRAINING: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
52
MAPPING AND NAVIGATION: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
TABLE 11
TABLE 12
TABLE 13
TABLE 14
TABLE 15
TABLE 16
52
RECONNAISSANCE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
53
NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY VERTICAL, 2015-2022 (USD MILLION)
55
GOVERNMENT: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
56
CIVIL: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
57
COMMERCIAL: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, R EGION, 2015-2022 (USD MILLION)
57
DEFENSE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
58
ENERGY & INFRASTRUCTURE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
59
TABLE 17
TABLE 18
TABLE 19
TABLE 20
TABLE 21
TABLE 22
TABLE 23
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
MARITIME & TRANSPORTATION: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
59
NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
62
NORTH AMERICA: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
65
NORTH AMERICA: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY MASS, 2015-2022 (USD MILLION)
65
NORTH AMERICA: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
66
NORTH AMERICA: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY VERTICAL, 2015-2022 (USD MILLION)
66
EUROPE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
69
EUROPE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY MASS, 2015-2022 (USD MILLION)
69
EUROPE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
70
EUROPE: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY VERTICAL, 2015-2022 (USD MILLION)
70
ASIA-PACIFIC: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
71
ASIA-PACIFIC: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY MASS, 2015-2022 (USD MILLION)
72
ASIA-PACIFIC: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
72
ASIA-PACIFIC: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY VERTICAL, 2015-2022 (USD MILLION)
73
ROW: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
74
ROW: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY MASS, 2015-2022 (USD MILLION)
74
ROW: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
75
ROW: NANOSATELLITE AND MICROSATELLITE MARKET SIZE, BY VERTICAL, 2015-2022 (USD MILLION)
TABLE 24
TABLE 25
TABLE 26
TABLE 27
TABLE 28
TABLE 29
TABLE 30
TABLE 31
TABLE 32
TABLE 33
TABLE 34
TABLE 35
TABLE 36
TABLE 37
TABLE 38
TABLE 39
TABLE 40
TABLE 41
75
7 © MarketsandMarkets MarketsandMarkets
NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
LIST OF FIGURES
FIGURE 2 FIGURE 1
FIGURE 3
FIGURE 5 FIGURE 6 FIGURE 7 FIGURE 8 FIGURE 4
FIGURE 9
FIGURE 10
FIGURE 11
NANOSATELLITE AND MICROSATELLITE MARKET: RESEARCH DESIGN
18
BREAKDOWN OF PRIMARY INTERVIEW: BY COMPANY TYPE, DESIGNATION, AND REGION
20
DATA TRIANGULATION
21
MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
22
MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
22
ASSUMPTIONS
23
REGIONAL SNAPSHOT: NANOSATELLITE AND MICROSATELLITE MARKET
25
BASED ON MASS, THE 1KG-10KG (NANOSATELLITE) SEGMENT IS EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
26
BASED ON VERTICAL, THE COMMERCIAL SEGMENT IS ESTIMATED TO LEAD L EAD THE NANOSATELLITE AND MICROSATELLITE MARKET DURING THE FORECAST PERIOD
26
BASED ON APPLICATION, THE EARTH OBSERVATION AND REMOTE SENSING SEGMENT IS EXPECTED TO GROW AT THE HIGHEST HIG HEST CAGR DURING THE FORECAST PERIOD
27
LOW MANUFACTURING COST OF MINIATURE SATELLITES IS EXPECTED TO DRIVE THE NANOSATELLITE AND MICROSATELLITE MARKET DURING THE FORECAST PERIOD
FIGURE 12
FIGURE 13
FIGURE 14
FIGURE 15
BASED ON COMPONENT, THE SOFTWARE AND DATA PROCESSING SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
BASED ON APPLICATION, THE EARTH OBSERVATION AND REMOTE SENSING SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
29
NORTH AMERICA IS ESTIMATED ESTIMATED TO LEAD THE NANOSATELLITE AND MICROSATELLITE MARKET IN 2017
30
NANOSATELLITE AND MICROSATELLITE MARKET IN EUROPE IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
30
EVOLUTION: NANOSATELLITE AND MICROSATELLITE MARKET
31
NANOSATELLITE AND MICROSATELLITE ARCHITECTURE
32
FIGURE 17 FIGURE 18 FIGURE 16
FIGURE 19
FIGURE 20
FIGURE 21
FIGURE 22
FIGURE 23
FIGURE 24
28
28
NANOSATELLITE AND MICROSATELLITE MARKET: DRIVERS, RESTRAINTS,
OPPORTUNITIES, AND CHALLENGES SOFTWARE AND DATA PROCESSING COMPONENT SEGMENT OF THE NANOSATELLITE AND MICROSATELLITE MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
33
38
NANOSATELLITE AND MICROSATELLITE MICROSATELLITE MARKET, BY MASS, 2017 & 2022 (USD MILLION)
43
THE EARTH OBSERVATION AND REMOTE SENSING APPLICATION SEGMENT OF THE NANOSATELLITE AND MICROSATELLITE MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
47
BASED ON VERTICAL, THE COMMERCIAL SEGMENT IS PROJECTED TO LEAD THE NANOSATELLITE AND MICROSATELLITE MARKET DURING THE FORECAST PERIOD.
55
NORTH AMERICA IS PROJECTED TO LEAD THE NANOSATELLITE AND MICROSATELLITE MARKET DURING THE FORECAST PERIOD
61
REGIONAL SNAPSHOT: EUROPE NANOSATELLITE AND MICROSATELLITE MARKET IS
FIGURE 26 FIGURE 25
ESTIMATED TO GROW AT THE HIGHEST CAGR DURING FORECAST PERIOD NORTH AMERICA NANOSATELLITE AND MICROSATELLITE MARKET SNAPSHOT
62 64
EUROPE NANOSATELLITE AND MICROSATELLITE MARKET SNAPSHOT
68 8
© MarketsandMarkets MarketsandMarkets
NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
FIGURE 28 FIGURE 29 FIGURE 30 FIGURE 31 FIGURE 32 FIGURE 33
DIVE CHART
77
RUAG GROUP: COMPANY SNAPSHOT
80
RUAG GROUP: PRODUCT OFFERINGS SCORECARD
81
RUAG GROUP: BUSINESS STRATEGIES SCORECARD
82
CLYDE SPACE, INC.: PRODUCT OFFERINGS SCORECARD
84
CLYDE SPACE, INC.: BUSINESS STRATEGIES SCORECARD
85
GS SWEDEN AB (GOMSPACE): COMPANY SNAPSHOT
87
FIGURE 35 FIGURE 36 FIGURE 37 FIGURE 38 FIGURE 39 FIGURE 40 FIGURE 41 FIGURE 42 FIGURE 43 FIGURE 44
GS SWEDEN AB (GOMSPACE): PRODUCT OFFERINGS SCORECARD
88
GS SWEDEN AB (GOMSPACE): BUSINESS STRATEGIES SCORECARD
89
SIERRA NEVADA CORPORATION: PRODUCT OFFERINGS SCORECARD
91
SIERRA NEVADA CORPORATION: BUSINESS STRATEGIES SCORECARD
92
TYVAK, INC.: PRODUCT OFFERINGS SCORECARD
95
TYVAK, INC.: BUSINESS STRATEGIES SCORECARD
96
LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT
98
LOCKHEED MARTIN CORPORATION: PRODUCT OFFERINGS SCORECARD
99
LOCKHEED MARTIN CORPORATION: BUSINESS STRATEGIES SCORECARD
100
RAYTHEON COMPANY: COMPANY SNAPSHOT
102
RAYTHEON COMPANY: PRODUCT OFFERINGS SCORECARD
103
FIGURE 45
RAYTHEON COMPANY: BUSINESS STRATEGIES SCORECARD
104
FIGURE 27
FIGURE 34
FIGURE 46 FIGURE 47 FIGURE 48 FIGURE 49 FIGURE 50 FIGURE 51
106
PLANET LABS, INC.: PRODUCT OFFERINGS SCORECARD PLANET LABS, INC.: BUSINESS STRATEGIES SCORECARD
107
INNOVATIVE SOLUTIONS IN SPACE: PRODUCT OFFERINGS SCORECARD
109
INNOVATIVE SOLUTIONS IN SPACE: BUSINESS STRATEGIES SCORECARD
110
SPACEQUEST LTD.: PRODUCT OFFERINGS SCORECARD
112
SPACEQUEST LTD.: BUSINESS STRATEGIES SCORECARD
113
9 © MarketsandMarkets MarketsandMarkets
NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
1
EXECUTIVE SUMMARY
The space industry has seen tremendous growth in past two decades. Access to latest technology by private players has fueled the growth of the global nanosatellite and microsatellite market. Low manufacturing cost and shorter development cycle of nanosatellites and microsatellites are anticipated to drive the satellite market. Moreover, it is now possible to have a global coverage with a constellation consisting a few dozens of both, nanosatellites and microsatellites. With the entry of private players in the space industry, launching a satellite is not limited to government agencies of a country. Companies have established new frontiers in the space industry with the successful completion of missions using refurbished rockets to reduce the turnaround time of a rocket launch. Miniaturization of electronics has helped in the development of compact and lightweight l ightweight systems for space exploration and research projects related to commercial, defense, and civil sectors. Advancements in miniaturization technology have enabled the development of nanosatellites and microsatellites, which result in saving cost in a space program, as small launch vehicles can be used or satellites can be launched as secondary payloads. Various commercial as well as private ventures have made significant investments in companies operational in the nanosatellite and microsatellite market to capitalize on opportunities presented through low-cost small satellite missions related to communication, earth observation, and remote-sensing, biological experiments, and scientific research, among others. The global nanosatellite and microsatellite market is projected to grow from USD 1,208.1 million in 2017 to USD 3,492.7 million by 2022, at a CAGR of 23.7% from 2017 to 2022. Factors that are expected to drive the nanosatellite and microsatellite market include low manufacturing cost of miniature satellites, high demand for miniature satellites for earth observation applications, increased investments in nanosatellite and microsatellite technologies, internet access acc ess to areas without broadband connectivity, and advancements in the space technology. However, the growth of the market may be restrained due to the implementation of regulations laid down by the International Telecommunication Union (ITU) for increasing the number of satellites being launched in the low earth orbit. The nanosatellite and microsatellite market has been segmented on the basis of mass into 1 kg-10 kg (nanosatellite) and 11 kg -100 kg (microsatellite). The 1 kg-10 kg (nanosatellite) segment is expected to grow at the highest CAGR of 25.8% during the forecast period. Based on application, the nanosatellite and microsatellite market has been segmented into communication, earth observation and remote sensing, scientific research, biological experiment, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance. Earth observation and remote sensing is expected to be the fastest-growing segment and is projected to grow at a CAGR of 26.1% during the forecast period. Based on component, the nanosatellite and microsatellite market has been segmented into hardware, software and data processing, service, and launch service. Based on vertical, the nanosatellite and microsatellite market has been segmented into government, civil, commercial, defense, energy & infrastructure, maritime & transportation. Key players in the nanosatellite and microsatellite market include RUAG Group (Switzerland), Clyde Space, Inc. (U.K.), GS Sweden AB (GOMSPACE) (Denmark), Sierra Nevada Corporation (U.S.), PLANET LABS, INC. (U.S.), TYVAK INC. (U.S.), Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), Innovative Solutions In Space (Netherlands), and Spacequest Ltd. (U.S.). These companies are focusing on developing nanosatellites and microsatellites in collaboration with dedicated launch service providers. Increasing interest in small satellites has led to a spate of venture capital-backed funding by various countries across North America, Europe, and Asia-Pacific.
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
FIGURE 1
REGIONAL SNAPSHOT: NANOSATELLITE AND MICROSATELLITE MARKET WORLD MAP
EUROPE
25.0% NORTH AMERICA
24.2%
ASIA-PACIFIC
22.3%
REST OF THE WORLD
11.4%
CAGR % (2017-2022)
Source: Secondary Literature, and MarketsandMa MarketsandMarkets rkets Analysis
The market for nanosatellite and microsatellite in Europe is expected to grow at a CAGR of 25.0% during the forecast period. This is due to an increase in demand for missions that will provide data for earth observation and scientific exploration. European Space Agency (ESA) and other national space agencies are expected to launch nanosatellites and microsatellites to gather data for climate monitoring, disaster management, navigation, and surveillance. The nanosatellite and microsatellite market is expected to witness significant growth in emerging economies of Asia-Pacific, such as China and India. The Asia-Pacific nanosatellite and microsatellite market is estimated to account for a share of 22.3% of the global nanosatellite and microsatellite market in 2017.
11 11 © MarketsandMarkets MarketsandMarkets
NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
FIGURE 2
BASED ON MASS, THE 1KG-10KG (NANOSATELLITE) SEGMENT IS EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD 25.8%
2,500.0
2017 2022
) n o2,000.0 i l l i M D1,500.0 S U ( e z i s1,000.0 t e k r a M
500.0
0.0 1 kg-10 kg (Nanosatellite)
11 kg-100 kg (Microsatellite )
Source: Secondary Literature, and MarketsandMa MarketsandMarkets rkets Analysis
Based on mass, the 1 kg-10 kg (nanosatellite) segment of the nanosatellite and microsatellite market is projected to grow at the highest CAGR during the forecast period, as these can be used for high precision and complex space missions, such as remote sensing, navigation, maritime and transportation management,
space
and
earth
observation,
disaster
management,
military
intelligence,
telecommunication, and other academic purposes. Less development time and cost has fueled space programs of developing countries, and the freedom to integrate with advanced space technologies is propelling the growth of the 1 kg-10 kg (nanosatellite) segment of the nanosatellite and microsatellite market.
FIGURE 3
BASED ON VERTICAL, THE COMMERCIAL SEGMENT IS ESTIMATED TO LEAD THE NANOSATELLITE AND MICROSATELLITE MARKET DURING THE FORECAST PERIOD 26.2%
1,200.0 2017 1,000.0 ) n o i l l i M D S U ( e z i S t e k r a M
2022
800.0 600.0 400.0 200.0 0.0 Commercial
Civil
Government
Defense
Energy & Infrastructure
Maritime & Transportation
Source: Secondary Literature, and MarketsandMa MarketsandMarkets rkets Analysis
12 12 © MarketsandMarkets MarketsandMarkets
NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
Based on vertical, the commercial segment of the nanosatellite and microsatellite market is projected to grow at the highest CAGR during the forecast period. Nanosatellites and microsatellites in the commercial sector are used for high precision and complex space missions, such as remote sensing, navigation, maritime and transportation management, space and earth observation, disaster management, military intelligence, telecommunication, and other academic purposes. Moreover, the use of satellite broadband through small satellite is expected to grow significantly during du ring the forecast period.
FIGURE 4
BASED ON APPLICATION, THE EARTH OBSERVATION AND REMOTE SENSING SEGMENT IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD PERIOD 26.1%
1,000.0 2017 2022
800.0 ) n o i l l i M D S U ( e z i S t e k r a M
600.0 400.0 200.0 0.0 Earth Observation and Remote Sensing
Communica Comm unication tion
Scien Scientific tific Research Research Biolo Biologica gicall Exper Experimen imentt
Tech Technolog nologyy Demonstration and Verification
Acad Academic emic Training Training
Mapp Mapping ing and Navigation
Reconnaissance
Source: Secondary Literature, and MarketsandMa MarketsandMarkets rkets Analysis
Based on application, the earth observation and remote sensing segment is projected to grow at the highest CAGR during the forecast period, as collection of information about planet Earth's physical, chemical, and biological systems by means of remote sensing technologies is evolving continuously. The demand for nanosatellites and microsatellites to carry earth survey is increasing, which will result in the growth of satellite payloads in the coming years. Moreover, these satellites are used for activities, such as disaster management, military intelligence, mining, and other academic purposes.
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NANOSATELLITE AND MICROSATELLITE MARKET - GLOBAL FORECAST TO 2022
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