Global Nano and Microsatellite Market 2016-2020
About Nano and Microsatellites
Nano and microsatellites are earth-orbiting devices that have lower mass and lesser physical dimensions as compared to a conventional satellite, such as a geostationary satellite. Owing to technological advancements, as well as advances in space research, these satellites have emerged as an important tool for applications such as wireless communications networks, data gathering, scientific observations, and global positioning systems (GPS).
Technavio’s analysts forecast the global nano and microsatellite market to grow at a CAGR of 22.95% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global nano and microsatellite market for 2016-2020. To calculate the market size, the report presents the market landscape and a corresponding detailed analysis of the five major vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global NANO and Microsatellite Market 2016-2020
Technavio recognizes the following companies as the key players in the global NANO and microsatellite market: Dauria Aerospace, Deep Space Industries, Innovative Solutions In Space, Lockheed Martin, and SpaceQuest.
Other Prominent Vendors in the market are: Clyde Space, GeoOptics, Planet Labs, Raytheon, RUAG Space, Terra Bella, Spire Global, and Terran Orbital.
Commenting on the report, an analyst from Technavio’s team said: “Miniaturization has been one of the major trends in almost every sector, and microsatellites are no exception. Making radar cameras smaller, which conventionally weigh 110-440 pounds, will result in an overall reduction in weight of the satellites. A team of researchers at NTU developed a new technology which can be directed toward miniaturization of radar cameras and can be implemented in microsatellites. With the new technology, radar cameras can be made small enough to fit in the palm of the human hand.”
According to the report, one of the key drivers for market growth will be cost-effective solution as compared to bigger satellites. One of the advantages of the nano and microsatellites in comparison to the conventional large satellites is their financial viability with respect to the manufacturing and launching procedures. Thus, a constellation of such satellites can be utilized to provide low-cost solutions. However, the use of large satellites for the same purpose would otherwise cost tens of millions of dollars. The cost to build a nano or microsatellite is almost negligible in comparison to the traditional large-scale satellite. These nano and microsatellites mostly use the hardware and software already developed and mainly used by the tech industry.
Further, the report states that each satellite's development and manufacturing has its own set of challenges as it has to withstand the exposure to the space environment and launch events. The challenges in the design and manufacturing of nano and microsatellites arise because of the need to reduce the weight and size while providing a high level of performance and reliability. For example, the antennas for nano and microsatellites have to be miniaturized to fit into the satellite system, which, however, reduces the signal strength. Many of the current miniaturized satellites used for science missions or technological demonstrations are designed for short mission life and use off-the-shelf electronics to lower costs.
Dauria Aerospace, Deep Space Industries, Innovative Solutions In Space, Lockheed Martin, SpaceQuest, Clyde Space, GeoOptics, Planet Labs, Raytheon, RUAG Space, Terra Bella, Spire Global, Terran Orbital.
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