Dublin, Nov. 12, 2018 (GLOBE NEWSWIRE) -- The "Global Nano Satellite Market - Focus on End User, Application, Mass, Subsegment, and Region; Analysis and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The market reported a revenue of $143.7 million in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2023.
The governments and space organizations worldwide are continuously increasing their funding in the space industry to develop efficient and cost-effective satellite solutions. Currently, the space industry is at the cusp of a major revolution, as more than 3,600 small satellites, including nano, micro, and pico, are expected to be launched over the course of next ten years. Nano satellites, in particular, are emerging as a promising market in the small satellite industry. According to National Aeronautics and Space Administration (NASA), nano satellites, also known as NanoSat, range from 1-10 kg mass.
The global nano satellite market is driven by several factors, wherein, the leading ones are advancement in the satellite miniaturization, increase in capability of electronic technology, and increase in demand for small satellite constellation. As more nations are launching their nano satellite constellations, demand for the nano satellite is anticipated to grow over the coming years. Globally, defense forces have been showing interest in potential advantages of using nano satellite constellations for certain military applications. These systems can replace one large satellite with a cluster of nano satellites in a single orbital location. It is expected that once the technology becomes available, nano satellite constellation systems will perform better, cost less to launch, and operate equivalent to conventional satellite systems.
Some of the key players in the nano satellite industry are Ball Corporation, Clyde Space Ltd., Airbus S.A.S., Deep Space Industries, Inc., Innovative Solutions In Space BV, Interorbital Systems, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, NanoAvionika, LLC, Northrop Grumman Corporation, OHB SE, Planet Labs, Inc., QinetiQ Group PLC, Terra Bella, The Boeing Company, and Tyvak Inc.
These companies are aiming for a wide range of product launches and collaborations to expand their operations and compete in the market. Apart from these, several companies, such as OneWeb, NanoRacks LLC, Satellogic, Kepler Communications, Aistech Space, Aerial Maritime, and Sky and Space Global, are also emerging in the market. These companies are expected to drive huge growth in the market during the forecast period, 2018-2023.
The global nano satellite market has been segmented into five end-users: academic, commercial, government, defense, and non-profit organization. The commercial end-user acquired the largest share; however, non-profit organization end-user are expected to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the global nano satellite market is also classified depending upon the applications, such as communication, earth observation and remote sensing, space exploration, and technology development and demonstration. Earth observation and remote sensing reported the highest revenue in 2017, however, communication is estimated to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the nano satellite market has also been segmented based on mass (1-3kg, 4-6kg, and 7-10kg categories) and subsystem (payload, structure, telecommunication, on-board computer, power system, attitude control system, and propulsion system).
North America accounted for the highest share of the market in 2017, owing to the maximum number of nano satellite launches by NASA (U.S.) and American entrepreneurs have made considerable amount of transformational developments in the region to explore space by deploying cost-effective small satellite constellations. In addition, RoW is expected to witness the highest growth during the forecast period, 2018-2023, mainly driven by continued efforts of the respective governments in development of satellite technologies to transform the national economy and strengthen security.
Key Topics Covered:
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Growing Demand for Cost-Effective Satellites
1.1.2 Increasing Capability of Electronic Technology
1.1.3 Ascending Demand for Small Satellite Constellations
1.2 Market Challenges
1.2.1 Developing Safe, Low-Cost, and Small Payload Nano Satellite to Launch Beyond Low-Earth Orbit
1.2.2 Removal of Space Debris
1.3 Market Opportunities
1.3.1 Growth of Nano Satellite in Disaster Management Applications
1.3.2 Development of Independent Global Navigation Satellite System (GNSS)
1.3.3 Emergence of Composite Material in Nano Satellites Structure
1.3.4 Development of Autonomous Nano Satellites
2 Competitive Insights
2.1 Overview
2.2 Key Market Strategies and Developments
2.2.1 Partnerships, Agreements, and Contracts
2.2.2 Product Launches
2.2.3 Mergers and Acquisitions
2.2.4 Other Developments
2.3 Competitive Benchmarking
3 Industry Analysis
3.1 Technological Scenario and Patent Analysis
3.1.1 Technological Scenario
3.1.1.1 3D Printed Nano Satellite
3.1.1.2 On-Board Internet System Powered Nano Satellite
3.1.2 Patent Analysis
3.2 Startup's and Investment Scenario
3.3 Value Chain Analysis
3.4 Industry Attractiveness
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitutes
3.4.5 Intensity of Competitive Rivalry
4 Global Nano Satellite Market
4.1 Assumptions and Limitations
4.2 Market Overview
5 Global Nano Satellite Market (by Application)
5.1 Market Overview
5.2 Communication
5.3 Earth Observation and Remote Sensing
5.4 Space Exploration
5.5 Technology Development and Demonstration
6 Global Nano Satellite Market (by End User)
6.1 Market Overview
6.2 Academic
6.3 Commercial
6.4 Government
6.5 Defense
6.6 Non-Profit Organization
7 Global Nano Satellite Market (by Mass)
7.1 Market Overview
7.2 1kg-3kg Nano Satellite
7.3 4kg-6kg Nano Satellite
7.4 7kg-10kg Nano Satellite
8 Global Nano Satellite Market (by Subsystem)
8.1 Market Overview
8.2 Payload
8.3 Structure
8.4 Telecommunication
8.5 On-Board Computer
8.6 Power System
8.7 Attitude Control System
8.8 Propulsion System
9 Global Nano Satellite Market (by Region)
10 Company Profiles
- Aerial Maritime
- Aistech Space
- Ball Corporation
- Clyde Space Ltd.
- EnduroSat AD
- GomSpace A/S
- Harris Corporation
- Innovative Solutions In Space BV
- Israel Aerospace Industries Ltd.
- Kepler Communications
- Lockheed Martin Corporation
- NanoAvionika, LLC
- NanoRacks LLC
- Northrop Grumman Corporation
- OHB SE
- Planet Labs, Inc.
- Pumpkin Space
- QinetiQ Group PLC
- Satellogic
- Sky and Space Global Ltd.
- Space Systems/Loral, LLC (SSL)
- Spire Global Inc.
- Surrey Satellite Technology
- The Boeing Company
- Tyvak Nano-Satellite Systems, Inc.
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