Nano Satellite Market Growth – CAGR of 20.4% During Forecast Period 2022-2030 | ACC Clyde Space, GomSpace A/S, ISISPACE Group,
According to the most recent analysis by Emergen Research, the size of the worldwide nano satellite market is anticipated to reach USD 1,336.9 Million in 2030 and experience a revenue CAGR of 20.4% during the projected period. The growth of the global nano satellite market is being fueled by factors such as the rise in demand for applications linked to Earth observation and the expansion of the aerospace, telecommunication, and satellite development industries. Nano satellites are artificial satellites that have been downsized and weigh less than 10 kg. Due to their tiny size, nano satellites are more practical and need less time to construct than convectional satellites. Nanosatellites are launched from lower altitudes and at comparatively lesser cost.
These objects move quickly around the planet in a polar orbit. Nanosatellites are used for a variety of things, including communication, land observation, and remote sensing. Nano satellite manufacture is less expensive than that of conventional satellites, making it easier to produce them in large quantities. Additionally, nano satellites are always put into orbit together, which lowers the cost of launch. Additionally, universities, space agencies, and private businesses are launching new nano satellite missions through a variety of projects, which is spurring market revenue growth.
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In December 2021, Terren Orbital, a world leader and innovator in the creation, invention, and operation of small and nano satellites and Earth observation technologies, and Redwire Corporation signed a three-year supplier agreement. Through this partnership, Redwire Corporation will provide Terran Orbital with a vast array of cutting-edge parts and solutions that will be employed in the production of tiny and nano satellites as well as service offerings.
Due to the ability of these satellites to collect data across vast areas, which will help to classify natural features or physical items on the ground, the earth observation and remote sensing market accounted for a fairly substantial revenue share in 2020.
The government sector had a modest revenue share in 2020 and is anticipated to increase quickly over the next few years. Real-time data from nanosatellites is used by governments from different nations throughout the world for a variety of purposes, including scientific research and biological studies.
Emergen Research has segmented the global nano satellite market on the basis of mass, application, end-use, and region:
Mass Type Outlook (Revenue, USD Billion; 2018–2030)
- 1kg-3kg Nano Satellite
- 4kg-6kg Nano Satellite
- 7kg-10kg Nano Satellite
Application Outlook (Revenue, USD Billion; 2018-2030)
- Earth Observation and Remote Sensing
- Scientific Research
- Biological Experiments
- Technology Demonstration and Verification
- Academic Training
- Mapping and Navigation
- Space Exploration
End-use Outlook (Revenue, USD Billion; 2018–2030)
Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
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