A new market intelligence study by Transparency Market Research presents a detailed overview of the global nanosatellite and microsatellite market. The report is titled “Nanosatellite and Microsatellite Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.” The market research study provides a comprehensive analysis of the growth drivers, factors limiting growth, current trends, market structure, and projections of the market for the period from 2013 to 2019.
With advancing technology and the rising demand for everything small and compact, the development of nanosatellites and microsatellites has been made possible. Nanosatellites are satellites that merely weigh 1 kg to 10 kg and microsatellites are satellites that weigh 11kgs to 100kgs. The small size and weight of these satellites make them more economical and feasible for usage for civil, commercial, government, and military purposes. Nanosatellites and microsatellites are cost-effective and are thus encouraging many new market entrants to develop their expertise in space technology.
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The nanosatellite and microsatellite market is majorly driven by huge investments from Silicon Valley and the continuous reduction in the price of these satellites. The integration of hi-tech commercial off-the-shelf electronic circuits is bolstering the demand for nanosatellites and microsatellites. Moreover, the future of the nanosatellite and microsatellite market appears to be bright as space projects by NASA, NRO, DARPA, NSF, and others are expected to fuel the demand for these satellites.
Of late, there has been an increase in the investments in space programs by commercial and private ventures, as they capitalize on the sea of opportunities opened by low-budget nanosatellite and microsatellite missions such as remote sensing, communication, and observation of the earth. According to TMR analysts, the commercial sector will be the largest contributor to the nanosatellite and microsatellite market in the coming years.
The report studies the nanosatellite and microsatellite market in the following areas: Europe, Asia Pacific, North America, and Rest of the World. It provides a technological growth map of the nanosatellite and microsatellite market and studies the changing dynamics of the market.
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Some of the leading market players operating in the global nanosatellite and microsatellite market are: Lockheed Martin Corp., Gomspace, Geooptics Inc, Raytheon, Clyde Space ltd, Sierra Nevada Corporation, Ruag, Planet Labs, Surrey Satellite Technologies Limited, and Northrop Grumman Corp. The detailed study of these top players given in the report can help readers get an idea about the challenges faced by these companies, the various factors that helped them grow in the industry, and the recent developments of these companies.