Nanosatellite and Microsatellite Market by Component (Hardware, Software & Data Processing, Services, Launch Services), Mass (1 kg-10 kg and 11 kg-100 kg), Application (Earth Observation & Remote Sensing), Vertical - Global Forecast to 2022

The nanosatellite and microsatellite market is projected to grow from an estimated USD 1.21 Billion in 2017 to USD 3.49 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.7% during the forecast period, from 2017 to 2022. The base year considered for the study is 2016.

Objectives of the study:

• To determine and forecast the global nanosatellite and microsatellite market based on component, mass, application, vertical, and region from 2017 to 2022, and analyse the various macro and micro-economic factors that affect market growth
• To forecast the size of market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific (APAC), and RoW (Middle East & Africa (MEA) and Latin America)
• To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the market
• To strategically analyse each submarket with respect to individual growth trends, prospects, and contribution to the total market
• To analyse the opportunities in the market for stakeholders by identifying high-growth segments of the nanosatellite and microsatellite market
• To profile key market players, provide comparative analysis based on business overviews, product offerings, regional presence, business strategies, key financials, with the help of in-house statistical tools to understand the competitive landscape
• To track and analyze competitive developments, such as mergers & acquisitions, product developments, partnerships & collaborations, and Research & Development (R&D) activities in the market

The research methodology used to estimate and forecast the nanosatellite and microsatellite market size begins with the capturing of data of key vendor revenues through secondary research such as annual reports, white papers, certified publications, databases such as Factiva and Hoovers, press releases, and investor presentations of nanosatellite and microsatellite solutions and service vendors, as well as articles from recognized industry associations, statistics bureaus, and government publishing sources. Vendor offerings were also taken into consideration to determine the market segmentations. The bottom-up procedure was employed to arrive at the overall global nanosatellite and microsatellite market size from the revenues of the key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key individuals, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

The breakdown of the profiles of the primary participants is depicted in the figure below:

To know about the assumptions considered for the study, download the pdf brochure

The nanosatellite and microsatellite market ecosystem includes key players, such as the RUAG Group (Switzerland), Clyde Space Inc., (U.K.), GS Sweden AB (GomSpace) (Denmark), Sierra Nevada Corporation (U.S.), Tyvak, Inc. (U.S.), Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), PLANET LABS INC. (U.S.), Innovative Solutions In Space (ISIS) (Europe), and SpaceQuest Ltd. (U.S.), who provide solutions and services required in nanosatellites and microsatellites.

Key Target Audience

• Satellite Component Manufacturers
• Satellite Manufacturers
• Satellite Integrators
• System Integrators
• Professional Service Providers
• Launch Service Providers
• Ground Station Operators
• Government and Civil Organizations Related to the Market
• Small Satellite Companies
• Payload Suppliers
• Aerospace Companies
• Security Companies
• Scientific Institutions
• Meteorological organizations
• Component Suppliers
• Contractors
• Technologists
• R&D Staff
• Consultants

Scope of the Report

The research report categorizes the nanosatellite and microsatellite market to forecast the revenues and analyze the trends in each of the following subsegments:

By Component

• Hardware
• Software and Data Processing
• Service
• Launch Service

By Mass

• 1 kg-10 kg (Nanosatellite)
• 11 kg-100 kg (Microsatellite)

By Application

• Communication
• Earth Observation and Remote Sensing
• Scientific Research
• Biological Experiments
• Technology Demonstration and Verification
• Academic Training
• Mapping and Navigation
• Reconnaissance

By Vertical

• Government
• Civil
• Commercial
• Defense
• Energy and Infrastructure
• Maritime and Transportation

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• RoW

Available Customizations

Along with the given market data, MarketsandMarkets offers customization as per the company’s specific requirements. The following customization options are available for the report:

Geographic Analysis

• Further country-level breakdown of the North America nanosatellite and microsatellite market
• Further country-level breakdown of the Europe market
• Further country-level breakdown of the APAC market
• Further country-level breakdown of the RoW market

Company Information

• Detailed analysis and profiles of additional market players

Low manufacturing cost of miniature satellites, high demand for miniature satellites in earth observation application, and increased investments in nanosatellite & microsatellite technologies to drive the global nanosatellite and microsatellite market to USD 3.49 billion by 2022.

The space industry has witnessed tremendous growth in the past two decades. Access to the latest technology for private players has fuelled the growth of the global nanosatellite and microsatellite market. Low manufacturing cost and shorter development cycle of nanosatellites and microsatellites are anticipated to drive the market growth. Moreover, it is now possible to have a global coverage with a constellation consisting of a few dozens of both, nanosatellites and microsatellites. With the entry of private players in the space industry, launching a satellite is not limited to government agencies of a country. Companies have established new frontiers in the space industry with the successful completion of missions using refurbished rockets to reduce the turnaround time of a rocket launch.

Miniaturization of electronics has helped in the development of compact and lightweight systems for space exploration and research projects related to the commercial, defines, and civil sectors. Advancements in miniaturization technology have enabled the development of nanosatellites and microsatellites, which result in cost savings in a space program, as small launch vehicles can be used, or satellites can be launched as secondary payloads. Various commercial as well as private ventures have made significant investments in companies operating in the nanosatellite and microsatellite market to capitalize on opportunities presented through low-cost small satellite missions related to communication, earth observation, and remote-sensing, biological experiments, and scientific research, among others.

The nanosatellite and microsatellite market encompass components such as hardware, software, data processing, and services. Services include technical or engineering expertise, system integration and maintenance, and testing and support required to plan, design, manufacture, and launch a satellite. The nanosatellite and microsatellite market are highly competitive and diversified with the presence of various large technology providers and service providers.

The 1kg-10kg (nanosatellite) segment of the nanosatellite and microsatellite market, by mass, is projected to grow at the highest CAGR during the forecast period, as nanosatellites can be used for high precision and complex space missions, such as remote sensing, navigation, maritime and transportation management, space and earth observation, disaster management, military intelligence, telecommunication, and other academic purposes. The benefits of shorter development time and low cost has fuelled an increase in space programs among the developing countries, and the freedom to integrate with advanced space technologies is propelling the growth of the 1kg-10kg (nanosatellite) segment.

Government, civil, commercial, defines, energy & infrastructure, and maritime & transportation are few of the verticals, with wide adoption of nanosatellite and microsatellite market. Nanosatellites and microsatellites are used in the commercial sector for high precision and complex space missions, such as remote sensing, navigation, maritime and transportation management, space and earth observation, disaster management, military intelligence, telecommunication, and other academic purposes.

Internet access for areas without broadband connectivity, advancements in space technologies, and increased demand for satellites in various application areas are major opportunities in the market

Players in the nanosatellite and microsatellite market such as Clyde Space Ltd. (U.K.) have proposed the launch of a constellation of small satellites to provide broadband internet services across the globe. These players aim to resolve latency issues by positioning satellites physically closer to the earth. The proposed satellite networks will be able to cover larger areas than cell towers that have limited coverage. The companies are making these efforts to leverage the opportunity for providing internet to those parts of the world where there is limited infrastructure and connectivity. The global telecommunications industry has built a robust internet network comprising of fibber optic cables, radio, microwave towers for terrestrial communications, and undersea cables. However, a huge percentage of the global population remains unconnected, due to low Average Revenue Per User (ARU) and lack of infrastructure in the rural and remote areas.

Miniature satellites play an important role in scientific endeavour’s that require cost-effective access to space. The increasing use of miniature satellites has resulted in the development of miniaturized systems capitalizing on commercial-off-the-shelf components. The electronic components used in miniature satellites are required to be rigorously tested and modified to be space compatible or resistant to outer space conditions, such as vacuum, microgravity, thermal extremes, and radiation exposure. This has provided an opportunity for testing of new hardware with low testing costs and discovering different applications for which the satellites can be used. For instance, one of the major developments in the field of miniature satellites is the introduction of attitude control systems and active pointing optics that help nanosatellites and microsatellites carry out entanglement distribution missions. Therefore, the increase in technological developments in miniature satellites will provide opportunities for the growth of the nanosatellite and microsatellite market by facilitating their use in diverse applications.

Nanosatellites and microsatellites have gained widespread use in various applications, such as commercial, civil, government, and military. The affordability of nanosatellite and microsatellite-based missions has led to their increased use in civil and commercial applications. Nanosatellites and microsatellites offer a low-cost means of achieving scientific research objectives, such as monitoring the space radiation environment, updating the international geomagnetic reference field, or providing an early proof-of-concept prior to the development of colossal infrastructural projects. With advancements in technology, several drawbacks of miniature satellites, such as limited provision of power to support hardware components, low accuracy in attitude knowledge, and control required for remote sensing as well as command and data-handling capabilities have already been addressed. This has resulted in the enhancement of nanosatellites and microsatellites capabilities, which has led to their usage in application areas that previously required large satellites. Small satellites can meet the requirements of various application areas such as navigation, communication, and earth observation, thus providing growth opportunities for the nanosatellite and microsatellite market.

Market Dynamics

Table of Contents

1 Nanosatellite and Microsatellite Market Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Nanosatellite and Microsatellite Market Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Opportunities in Nanosatellite and Microsatellite Market
    4.2 Market By Component
    4.3 Market By Application
    4.4 Market By Vertical and Region
    4.5 Market By Region

5 Nanosatellite and Microsatellite Market Overview and Industry Trends (Page No. - 31)
    5.1 Introduction
    5.2 Evolution
    5.3 Nanosatellite and Microsatellite Architecture
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Low Manufacturing Cost of Miniature Satellites
                    5.4.1.2 High Demand for Miniature Satellites in Earth Observation Application
                    5.4.1.3 Increased Investments in Nanosatellite & Microsatellite Technologies
           5.4.2 Restraints
                    5.4.2.1 Implementation of Regulations for Increasing Number of Satellites Being Launched
           5.4.3 Opportunities
                    5.4.3.1 Internet Access for Areas Without Broadband Connectivity
                    5.4.3.2 Advancements in Space Technologies
                    5.4.3.3 Increased Demand for Satellites in Various Application Areas
           5.4.4 Challenges
                    5.4.4.1 Lack of Dedicated Launch Vehicles for Launching Miniature Satellites Into Space
                    5.4.4.2 Issues Related to Space Debris

6 Nanosatellite and Microsatellite Market, By Component (Page No. - 37)
    6.1 Introduction
    6.2 Hardware
    6.3 Software and Data Processing
    6.4 Service
    6.5 Launch Service

7 Market By Mass (Page No. - 42)
    7.1 Introduction
    7.2 1 Kg–10 Kg (Nanosatellite)
    7.3 11 Kg–100 Kg (Microsatellite)

8 Nanosatellite and Microsatellite Market, By Application (Page No. - 46)
    8.1 Introduction
    8.2 Communication
    8.3 Earth Observation and Remote Sensing
    8.4 Scientific Research
    8.5 Biological Experiment
    8.6 Technology Demonstration and Verification
    8.7 Academic Training
    8.8 Mapping and Navigation
    8.9 Reconnaissance

9 Nanosatellite and Microsatellite Market, By Vertical (Page No. - 54)
    9.1 Introduction
    9.2 Government
    9.3 Civil
    9.4 Commercial
    9.5 Defense
    9.6 Energy & Infrastructure
    9.7 Maritime & Transportation

10 Regional Analysis (Page No. - 60)
     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia-Pacific
     10.5 Rest of the World (RoW)

11 Competitive Landscape (Page No. - 76)
     11.1 Introduction
             11.1.1 Vanguards
             11.1.2 Innovators
             11.1.3 Dynamic
             11.1.4 Emerging
     11.2 Competitive Benchmarking
             11.2.1 Product Offerings
             11.2.2 Business Strategies

12 Company Profiles (Page No. - 80)
(Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, MnM View)*
     12.1 Ruag Group
     12.2 Clyde Space, Inc.
     12.3 GS Sweden AB (Gomspace)
     12.4 Sierra Nevada Corporation
     12.5 Tyvak Inc.
     12.6 Lockheed Martin Corporation
     12.7 Raytheon Company
     12.8 Planet Labs, Inc.
     12.9 Innovative Solutions in Space
     12.10 Spacequest Ltd.

*Details on Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Key Innovators (Page No. - 115)
     13.1 Sky and Space Global Ltd.
     13.2 Kepler Communications, Inc.
     13.3 Else SA
     13.4 Axelspace Corporation
     13.5 Dauria Aerospace

14 Appendix (Page No. - 117)
     14.1 Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports
     14.7 Author Details

List of Tables (41 Tables)

Table 1 Nanosatellite and Microsatellite Market Size, By Component, 2015–2022 (USD Million)
Table 2 Hardware Component: Market Size, By Region, 2015–2022 (USD Million)
Table 3 Software and Data Processing Component: Market Size, By Region, 2015–2022 (USD Million)
Table 4 Service Component: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Launch Service Component: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Nanosatellite and Microsatellite Market Size, By Mass, 2015–2022 (USD Million)
Table 7 1 Kg -10 Kg (Nanosatellite): Market Size, By Region, 2015–2022 (USD Million)
Table 8 11 Kg–100 Kg (Microsatellite): Market Size, By Region, 2015–2022 (USD Million)
Table 9 Nanosatellite and Microsatellite Market Size, By Application, 2015-2022 (USD Million)
Table 10 Communication Application: Market Size, By Region, 2015-2022 (USD Million)
Table 11 Earth Observation and Remote Sensing Application: Market Size, By Region, 2015-2022 (USD Million)
Table 12 Scientific Research Application: Market Size, By Region, 2015-2022 (USD Million)
Table 13 Biological Experiment Application: Market Size, By Region, 2015-2022 (USD Million)
Table 14 Technology Demonstration and Verification Application: Market Size, By Region, 2015-2022 (USD Million)
Table 15 Academic Training Application: Market Size, By Region, 2015-2022 (USD Million)
Table 16 Mapping and Navigation Application: Market Size, By Region, 2015-2022 (USD Million)
Table 17 Reconnaissance Application: Market Size, By Region, 2015-2022 (USD Million)
Table 18 Nanosatellite and Microsatellite Market Size, By Vertical, 2015-2022 (USD Million)
Table 19 Government Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 20 Civil Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 21 Commercial Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 22 Defense Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 23 Energy & Infrastructure Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 24 Maritime & Transportation Vertical: Market Size, By Region, 2015-2022 (USD Million)
Table 25 Nanosatellite and Microsatellite Market Size, By Region, 2015-2022 (USD Million)
Table 26 North America: Market Size, By Component, 2015-2022 (USD Million)
Table 27 North America: Market Size, By Mass, 2015-2022 (USD Million)
Table 28 North America: Market Size, By Application, 2015-2022 (USD Million)
Table 29 North America: Market Size, By Vertical, 2015-2022 (USD Million)
Table 30 Nanosatellite and Microsatellite Europe: Market Size, By Component, 2015-2022 (USD Million)
Table 31 Europe: Market Size, By Mass, 2015-2022 (USD Million)
Table 32 Europe: Market Size, By Application, 2015-2022 (USD Million)
Table 33 Europe: Market Size, By Vertical, 2015-2022 (USD Million)
Table 34 Asia-Pacific: Nanosatellite and Microsatellite Market Size, By Component, 2015-2022 (USD Million)
Table 35 Asia-Pacific: Market Size, By Mass, 2015-2022 (USD Million)
Table 36 Asia-Pacific: Market Size, By Application, 2015-2022 (USD Million)
Table 37 Asia-Pacific: Market Size, By Vertical, 2015-2022 (USD Million)
Table 38 RoW: Nanosatellite and Microsatellite Market Size, By Component, 2015-2022 (USD Million)
Table 39 RoW: Market Size, By Mass, 2015-2022 (USD Million)
Table 40 RoW: Market Size, By Application, 2015-2022 (USD Million)
Table 41 RoW: Market Size, By Vertical, 2015-2022 (USD Million)

List of Figures (51 Figures)

Figure 1 Nanosatellite and Microsatellite Market: Research Design
Figure 2 Breakdown of Primary Interview: By Company Type, Designation, and Region
Figure 3 Data Triangulation
Figure 4 Nanosatellite and Microsatellite Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Assumptions
Figure 7 Global Nanosatellite and Microsatellite Market: Regional Snapshot
Figure 8 1kg-10kg (Nanosatellite) Segment to Record Higher Growth During Forecast Period (USD Million)
Figure 9 Commercial Vertical to Record Highest Growth During Forecast Period (USD Million)
Figure 10 Earth Observation and Remote Sensing Application to Record Highest Growth During Forecast Period (USD Million)
Figure 11 Low Manufacturing Cost of Miniature Satellites to Drive Market Growth During Forecast Period
Figure 12 Software and Data Processing Component to Record Highest Growth During Forecast Period (USD Million)
Figure 13 Earth Observation and Remote Sensing Application to Record Highest Growth During Forecast Period (USD Million)
Figure 14 Commercial Segment and North America to Dominate Market in 2017
Figure 15 Europe to Record Highest Growth During Forecast Period (USD Million)
Figure 16 Evolution: Nanosatellite and Microsatellite Market
Figure 17 Nanosatellite and Microsatellite Architecture
Figure 18 Nanosatellite and Microsatellite Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Software and Data Processing Component to Record Highest Growth During Forecast Period (USD Million)
Figure 20 Nanosatellite and Microsatellite Market, By Mass, 2017 & 2022 (USD Million)
Figure 21 Earth Observation and Remote Sensing Application to Record Highest Growth During Forecast Period (USD Million)
Figure 22 Commercial Vertical to Record Highest Growth During Forecast Period (USD Million)
Figure 23 North America to Dominate Global Market During Forecast Period (USD Million)
Figure 24 Global Market Snapshot: Europe to Record Highest Growth During Forecast Period
Figure 25 North America: Nanosatellite and Microsatellite Market Snapshot
Figure 26 Europe: Nanosatellite and Microsatellite Market Snapshot
Figure 27 Dive Chart
Figure 28 Ruag Group: Company Snapshot
Figure 29 Ruag Group: Product Offerings Scorecard
Figure 30 Ruag Group: Business Strategies Scorecard
Figure 31 Clyde Space, Inc.: Product Offerings Scorecard
Figure 32 Clyde Space, Inc.: Business Strategies Scorecard
Figure 33 GS Sweden AB (Gomspace): Company Snapshot
Figure 34 GS Sweden AB (Gomspace): Product Offerings Scorecard
Figure 35 GS Sweden AB (Gomspace): Business Strategies Scorecard
Figure 36 Sierra Nevada Corporation: Product Offerings Scorecard
Figure 37 Sierra Nevada Corporation: Business Strategies Scorecard
Figure 38 Tyvak, Inc.: Product Offerings Scorecard
Figure 39 Tyvak, Inc.: Business Strategies Scorecard
Figure 40 Lockheed Martin Corporation: Company Snapshot
Figure 41 Lockheed Martin Corporation: Product Offerings Scorecard
Figure 42 Lockheed Martin Corporation: Business Strategies Scorecard
Figure 43 Raytheon Company: Company Snapshot
Figure 44 Raytheon Company: Product Offerings Scorecard
Figure 45 Raytheon Company: Business Strategies Scorecard
Figure 46 Planet Labs, Inc.: Product Offerings Scorecard
Figure 47 Planet Labs, Inc.: Business Strategies Scorecard
Figure 48 Innovative Solutions in Space: Product Offerings Scorecard
Figure 49 Innovative Solutions in Space: Business Strategies Scorecard
Figure 50 Spacequest Ltd.: Product Offerings Scorecard
Figure 51 Spacequest Ltd.: Business Strategies Scorecard

The nanosatellite and microsatellite market is projected to grow from USD 1.21 Billion in 2017 to USD 3.49 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.7% from 2017 to 2022. The major factors expected to drive the growth of the market include the low manufacturing cost of miniature satellites, high demand for miniature satellites for earth observation applications, and increased investments in nanosatellite and microsatellite technologies.

The nanosatellite and microsatellite market has been segmented based on mass into 1kg-10kg (nanosatellite) and 11kg-100kg (microsatellite). The 1kg-10kg (nanosatellite) segment is expected to witness the highest growth during the forecast period. Based on application, the market has been segmented into communication, earth observation and remote sensing, scientific research, biological experiment, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance. The Earth observation and remote sensing segment is expected to be the fastest-growing segment of the market during the forecast period. Based on component, the market has been segmented into hardware, software and data processing, service, and launch service. The software and data processing segment is expected to witness the highest growth during the forecast period.  Based on vertical, the market has been segmented into government, civil, commercial, defense, energy & infrastructure, and maritime & transportation.

North America is expected to be the largest market for nanosatellites and microsatellites during the forecast period, owing to the high demand from NASA and the U.S. Department of Defense, as well as research organizations and companies in the telecommunication sector. The nanosatellite and microsatellite market in Europe is expected to witness the highest growth during the forecast period, due to an increase in the demand for miniature satellites in missions to obtain data pertaining to Earth observation and scientific exploration. The European Space Agency (ESA) and other national space agencies are expected to launch nanosatellites and microsatellites to gather data on climate monitoring, disaster management, navigation, and surveillance.

The implementation of stringent regulations by the International Telecommunication Union (ITU), an organization that regulates orbital slots and radio frequencies, can restrain the growth of the market in the near future. Key players in the nanosatellite and microsatellite market include the RUAG Group (Switzerland), Clyde Space, Inc. (U.K.), GS Sweden AB (GomSpace) (Denmark), Sierra Nevada Corporation (U.S.), PLANET LABS, INC. (U.S.), TYVAK INC. (U.S.), Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), Innovative Solutions In Space (Netherlands), and Spacequest Ltd. (U.S.). These companies are focusing on the development of nanosatellites and microsatellites in collaboration with dedicated launch service providers.

The growth of nanosatellite and microsatellite market depends on the factors, such as low manufacturing cost of miniature satellites, high demand for miniature satellites in earth observation application, and increased investments in nanosatellite & microsatellite technologies.

Apart from established players in the market, the new entrants in the market are focusing on developing nanosatellites and microsatellites in collaboration with dedicated launch service providers. The key players in the market are focusing on deploying different applications in the nanosatellite and microsatellite market

Communication

Satellites are being used for various communication activities. Due to an increase in R&D activities, communication-related missions are expected to offer enhanced quality communication systems with the help of highly sophisticated miniaturized on-board nanosatellite and microsatellite sub-systems, coupled with advanced mission-compatible ground-station technology. Advancements in technology have been useful for generating higher data rates, thereby improving the overall communication capabilities of nanosatellites and microsatellites. Small satellites can accommodate more sophisticated payloads, as compared to traditional large satellites. Furthermore, it takes considerably less time to transfer data from the earth to the LEO at the location of small satellite, as compared to the time taken to transfer data from the earth to the Geostationary Earth Orbit (GEO) where the traditional large satellites are located. Additionally, disaster management, asset tracking, and mobile communication are important communication capabilities provided by small satellites. For instance, PoSAT-1, the Portuguese satellite, which weighs up to 50 kg, was used by the military for e-mail communication in Portugal at the time of the Bosnia crisis. Moreover, the two microsatellites (HealthSat-1&2) designed by SatelLife (U.S.) were used by medical teams for routine email communication.

Earth Observation and Remote Sensing

Microsatellites have revolutionized earth observation. Conventionally, earth observation and remote sensing missions involve huge costs. Nanosatellite and microsatellite have created newer opportunities for earth observation and remote sensing by using inexpensive small satellites to capture earth images and gather specific data. Nanosatellites and microsatellites are expected to play a major role in remote sensing missions due to their enhanced computational and communication capabilities, along with their ability to decide which data needs to be sent and when. Successful programs to develop and examine advanced hyperspectral imaging systems compatible with nanosatellite and microsatellite missions have enabled these small satellites to generate high-quality complex images. These images can be processed, analyzed, and interpreted quickly using existing hyperspectral data-analyzing software programs, which can help in disaster monitoring, such as cyclones, storms, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, and of industrial and/or power plant. Moreover, the high mobility of nanosatellites and microsatellites due to their compactness makes them ideal for earth observations and tracking of various weather-related phenomena, such as hurricanes, lightning and polar lights, or natural catastrophes as well as speculations of accidental disasters without any delay in reporting time. Thus, all these missions are expected to help the earth observation and remote sensing application segment to record the highest CAGR during the forecast period. For instance, the UoSAT-1 and UoSAT-2 manufactured by Surrey Satellite Technology supports experimental first generation 2-D CCD earth imaging cameras. Earth imaging cameras are extensively used in earth observation and monitoring missions. Additionally, the UoSAT-5 manufactured by Surrey Satellite Technology carried forward communications and earth imaging payload.

Scientific Research

Scientific research and exploration is one of the predominant applications of small satellites. Microsatellites offer rapid turnaround and economical means of exploring and carry out small-scale science objectives. The manufacturing cost, launch cost, and operating expenses of small satellites are quite less, making them suitable for scientific research, as they require only one or two sensors in space. The miniaturization of sub-components and payloads has facilitated the use of small satellites for new space science missions. Innovations in nanosatellite and microsatellite technologies have made it feasible to plan scientific research and other science-related space missions requiring extreme optomechanical steadiness and precision. Nanosatellites and microsatellites are now being used for space exploration missions to individually rendezvous with a number of Near-Earth Objects (NEOs) at very low cost. The data generated from such missions is invaluable in NEO mapping, impact damage forecasts, and impact offset measure planning contexts. Unique interplanetary missions, such as Smallsat Intercept Mission to Objects Near Earth (SIMONE) have been conceptualized using a fleet of low-cost microsatellites to individually rendezvous with a different NEO, each with a distinct spectral and/or physical type. Other space science missions using nanosatellites and microsatellites include studies pertaining to university or other academic-based researches, such as profiling of various rocks and minerals present within the crust of the Earth and other planetary bodies. Endless prospects in space research are expected to open up further as technology evolves.

Biological Experiment

Biological experiments ranging from fundamental biology to environmental sensing are carried out under various nanosatellite and microsatellite missions. With the cost-effectiveness and rapid advancement in technologies, such as high-quality miniaturized optical detection systems of nanosatellite and microsatellite, a huge window of opportunity for research and exploration in biology as well as its related areas of study has opened up. These low-cost missions help researchers to frequently send satellites to space for their experiments. Astrobiology-based researches can use these missions. These satellites can also be used for various other ongoing experiments, such as understanding biological processes through culture of cells, tissues, or small organisms in a micro gravity to know how living beings are affected in space. Organism/Organic Exposure to Orbital Stresses (O/OREOS) nanosatellites are being used for biological experiments.

Technology Demonstration and Verification

Technological demonstrations significantly impact the nanosatellite and microsatellite market, as they reduce the risk of testing and re-testing technologies. Nanosatellites and microsatellites offer a cost-effective approach for projects, which may include development and flight-testing a new experimental upper stage, investigation, and demonstration of advanced space technologies. It also enables demonstration of small satellites built using advanced technologies and techniques, such as lightweight power and propulsion systems, avionics, and spacecraft structures over a period of one year. Nanosatellites and microsatellites also help in gaining experience in operations and establishing the potential utility of small satellites for future defense missions in a GEO. The space community is gaining confidence due to the availability of various software packages, along with the space knowhow gathered through low-cost consistent nanosatellites- and microsatellite-based test programs. For instance, an assembly of lightweight technologies integrated into high-performance microsatellites is being developed by the Microsatellite Demonstration Science and Technology Experiment Program (MiDSTEP) to demonstrate these advanced technologies and their capabilities. Waseda-SAT 3 and CELTEE 1 nanosatellites are used for technology demonstration.

Academic Training

Nanosatellites and microsatellites are being increasingly used for enhancing academic knowhow in various university-based researches related to space and earth studies as well as other science laboratory projects. Academic institutions are actively participating in designing and manufacturing nanosatellites and microsatellites. In 2013, the European Student Earth Orbiter (ESEO), a microsatellite mission, was taken up by European university students to provide extensive knowledge and practical experience of a space project. These low-cost satellite projects have spread drastically over the past few years and have been beneficial in introducing students to the complexities in the aerospace industry, along with providing a provision for a platform for space-based scientific researches. Additionally, in 2010, Nano Satellite Mission- Jugnu, a nanosatellite weighing 3kg, was taken up by a group of IIT Kanpur students.

Mapping and Navigation

Nanosatellites and microsatellites are very useful for mapping and navigation of the earth across geographies. The data collected and processed through a web of small satellites enable various mapping applications and develop exact maps of the earth’s surface, and transportation and travel ways. These nanosatellites and microsatellites improve GPS-based navigation due to their near proximity to the earth’s surface. With the development of sophisticated technologies and GPS-based systems, companies such as Google have succeeded in developing mapping and navigation applications using small satellites. Several transportation and marine companies are increasingly investing in nanosatellites and microsatellites to develop better navigation and tracking systems. This has resulted in the growth of the mapping and navigation application segment

Reconnaissance

Reconnaissance holds several growth opportunities for the nanosatellite and microsatellite market. Nanosatellites and microsatellites are used for reconnaissance applications due to their mobility and highly evolved imaging systems. A group of satellites is helpful in spying on designated targets for intelligence gathering. Projects are being undertaken to deploy low-cost satellites to explore the tactical utility of space intelligence and reconnaissance.

Several research studies are being carried out on the in-orbit autonomy of such satellites, which can uncover enormous prospects for microsatellites, especially in tapping their potential for reconnaissance that will benefit countries, especially for tracking information and alert early warning systems during national security issues. Reconnaissance application will be preferred mainly for military and defense purposes and huge investments are expected to be made by the defense sector across the globe in this application segment over the next five years.

Key questions

• Which are the substitute products and how big is the threat from them?
• Which are the top use cases where nanosatellite and microsatellite can be implemented for revenue generation through new advancements in space technologies?
• What are the potential opportunities in the adjacent markets, such as maritime satellite communication and satellite transponder?
• What should be your go-to-market strategy to expand the reach into developing countries across Asia Pacific, Middle East & Africa, and

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