Nanosatellite and Microsatellite Market

GomSpace (Denmark) and Tyvak (US) are leading players in Nanosatellite and Microsatellite Market

The global nanosatellite and microsatellite market size is expected to grow from USD 1.5 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. These satellites are used for several applications, such as communication, earth observation and remote sensing, scientific research, biological experiments, academic training, reconnaissance, and various other applications by the defense, intelligence, civil, commercial, and/or government verticals. Continuous advancements in the miniaturization of technologies, such as electronics; low-mission costs; and the increasing use of satellite constellations are major drivers of the market.

The major nanosatellite and microsatellite market vendors include GomSpace (Denmark), Lockheed Martin (US), L3Harris (US), Sierra Nevada Corporation (US), AAC Clyde Space (Scotland), Planet Labs (US), Tyvak (US), NanoAvionics (US), Innovative Solutions In Space (Netherlands), SpaceQuest (US), Raytheon (US), RUAG (Switzerland), Surrey Satellite Technology Limited (England), Dauria Aerospace (Russia), Axelspace Corporation (Japan), Sky and Space Global (UK), Kepler (Canada), GAUSS (Italy), SpaceWorks Enterprises (US), and Berlin Space Technologies (Germany). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global nanosatellite and microsatellite market. New product launches, agreements, and collaborations have been the most adopted strategies by major players from 2018 to 2019, which helped them innovate their offerings and broaden their customer base.

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GomSpace (Denmark) is a globally present company that designs, integrates, and manufactures high-end nanosatellites for customers for the academic, government, and commercial verticals. In the nanosatellite and microsatellite market, the company offers a wide range of solutions. Its offerings include mission payloads, power systems, communication systems, command and data handling, and attitude and orbit control systems. The company is headquartered in Denmark with subsidiaries in Sweden, Luxembourg, and offices in the US and Singapore. Currently, the company has more than 200 employees and serves customers in more than 50 countries. GomSpace caters to a large clientele that includes national space agencies, commercial businesses, military and national authorities, universities, and ambitious science groups.

Tyvak (US), a subsidiary of Terran Orbital, is an innovator and provider of end-to-end nanosatellite and microsatellite services and solutions for the US government agencies and commercial enterprises. The company is a pioneer in the miniaturization of space technologies, making space responsive, with the ability to quickly and economically design, build, and launch state-of-the-art satellites. The company specializes in spacecraft development, launch services, and on-orbit operations to deliver small satellites for critical missions across a variety of applications in Low Earth Orbit (LEO), Geosynchronous Earth Orbit (GEO), and beyond Earth orbit, and vehicle classes, including nanosatellites and microsatellites. The company provides consulting and launch integration services and professional training to ensure the availability of complete information, from installation of the satellite to its launch.

Related Reports:

Nanosatellite and Microsatellite Market by Component (Hardware, Software & Data Processing, Launch Services), Type (Nanosatellite and Microsatellite), Application, Vertical (Government, Defense, Civil), and Region - Global Forecast to 2024

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Report Code
TC 2267
RI Published ON
12/18/2019
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