Global Nanosatellite Market Anticipated to Reach $6.35 Billion by 2021, Reports BIS Research

BLOOMINGTON, Minnesota, June 21, 2017 /PRNewswire/ --

According to a new market intelligence report by BIS Research, titled "Global Nano Satellite Market, Analysis & Forecast, 2017 - 2021 ", the global market is expected to reach $6.35 billion by 2021, growing at a CAGR of 37.91% during the forecast period. With the emergence of space technologies, which enable satellites to operate under harsh space environment, it has become easier to carry out cost-effective space missions. Driven by the need for satellite applications such as communication, earth observation, and navigation, the demand for satellite constellations have increased manifold. This has led to the advent of satellite miniaturization, which is also influencing the nanosatellite market.

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Browse 20 Market Data Tables and 147 Figures spread through 258 pages and in-depth TOC on 'Nano Satellite Market'

Nanosatellites are evolving rapidly with significant advancements in technologies for satellite subsystems, such as 3D printed electronic satellite equipment, on-board Internet system, electronic and propulsion system, among others. Recently, Tomsk Polytechnic University revealed the first Russian 3D printed nanosatellite called the Tomsk-TPU-120, which was launched in March 2016 from the International Space Station (ISS). The manufacturers in the industry are currently focusing on the development of nanosatellites with advanced technologies that can operate independently and require less human intervention. The nanosatellite market is driven by the increase in demand generated by the defense and security segments for satellite applications such as intelligence, surveillance, reconnaissance, and navigation, majorly in the North American and European region.

The major subsystems incorporated in nanosatellites are structure, payload, power system, propulsion system, telecommunication, on-board computer, and attitude control system. The key players in the market are developing the electric propulsion system, which is one of the major subsystems, for nanosatellites, in order to improve the overall efficiency of the satellite, along with reduced carbon footprints. For instance, ISRO launched GSLV-F09 mission in May 2017, which has an on-board electric propulsion system, allowing ISRO to save costs. Nanosatellites primarily vary in accordance with their applications. For instance, nanosatellites are majorly used by the academic end user for research and space exploration application. The nanosatellite market is expected to witness a high growth in the next five years, owing to a huge requirement of cost-effective space missions to facilitate applications such as, navigation, communication, academic research, earth observation, and remote sensing, among others.

North America is currently dominating the nanosatellite market, owing to an extensive U.S. governmental and military space budget, which comprises about 54% of the space spending, worldwide. However, the geographical analysis of this market unveils a great potential for growth in the Asia-Pacific countries. According to the analysis, the presence of emerging economies, particularly China and India, are contributing considerably to the growth of the market. Moreover, a rise in the defense spending by the Asia-Pacific nations to facilitate modern defense platforms and technologies, specifically for nanosatellite, is boosting the growth of the market. The U.K., Germany, France, Spain, and Russia are some of the prominent countries for European nanosatellite market.

BIS Research Report: https://bisresearch.com/industry-report/global-nano-satellite-market-2021.html

According to Ayushi Bajpai, analyst at BIS Research, "Among applications of nanosatellite, communication segment is expected to foster a high growth rate of 46.61% in the market, owing to an increasing number of small satellite constellation systems for varied applications. Companies are building large clusters of small satellites, primarily to facilitate the communication services for mobile connectivity and access to the Internet." For instance, SpaceX is developing a satellite constellation composed of 4,425 small satellites to provide global broadband and communication services. Several emerging space startups such as OneWeb, Spire Global, Inc., Earth-i Ltd., and Skyfi Education Labs Pvt. Ltd., are developing a large number of small satellite constellations for varied satellite applications including global Internet broadband service, high resolution imaging along with frequent update, full-color video footage, and disaster management, among others. Furthermore, the big players in the aerospace and defense industry are venturing into the market, along with space startups to develop small satellite constellations. For instance, in 2016, Airbus signed an agreement with OneWeb, thereby, deploying 900 small satellites for high-speed Internet connectivity equivalent to the terrestrial fiber-optic network. Thus, increasing demand for small and cost-effective satellite constellations for communication is expected to advance the growth of nanosatellite market in the coming years.

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The market intelligence report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by subsystems, namely: payload, structure, telecommunication, on-board computer, power system, attitude control system, and propulsion system; end users, namely: academic, commercial, government, defense, and non-profit organization; and applications, namely: communication, intelligence, surveillance, and reconnaissance (ISR), Earth observation and remote sensing, academic research and space exploration, navigation, and technology demonstration. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 10 different countries.

This report is a meticulous compilation of research on more than 90 players in the satellite industry and draws upon insights from in-depth interviews with key opinion leaders of more than 10 leading companies, market participants, and vendors. The report also profiles around 15 companies, which are leading nanosatellite producers, including Interorbital Systems, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, NanoAvionika, LLC, OHB SE, and Orbital ATK, Inc., among others. The report focuses on the emerging start-ups in the nanosatellite market and provides strategic developments by them.

Key questions answered in the report: 

• What is the size of the nanosatellite market in 2016, in terms of revenue, and growth rate during the forecast period, 2017-2021?
• What is the revenue generation of nanosatellites being utilized by different end users in 2016 and their growth prospects?
• What is the market value of different applications of nanosatellite in 2016, on the basis of varied end users (academic, government, commercial, defense, and non-profit organization)?
• What is the market size of nanosatellite on the basis of different geographical regions?
• What is the market size of different end users as per the nanosatellite launches in these regions?
• What are the key trend opportunities in nanosatellite market, pertaining to countries included in different geographical regions?  
• What are different types of subsystems incorporated in a nanosatellite and details about respective manufacturers?
• How is 3D printing affecting the technological advancements in varied subsystems incorporated in a nanosatellite?
• How is increased number of small satellite constellations for commercial end user affecting the growth of nanosatellite market?
• What are the major driving forces that tend to increase the demand of nanosatellites during the forecast period?
• What are the major challenges inhibiting the growth of the global nanosatellite market?
• What kind of new strategies is being adopted by the existing market players to make a mark in the industry?
• What is the competitive strength of key players in the nanosatellite market and how attractive is it for existing stakeholders?

About BIS Research:  

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defense, automotive, healthcare, electronics & semiconductors, robotics & UAV and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for the senior management.

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SOURCE BIS Research