Nanosatellite and Microsatellite Market

Partnerships, Contracts, Acquisitions, and Business Expansions to Achieve Growth in the Nanosatellite and Microsatellite Market

The nanosatellite and microsatellite market size is estimated to be USD 1.21 Billion in 2017 and is projected to reach USD 3.49 Billion by 2022, at a CAGR of 23.7% from 2017 to 2022. Some of the major factors that are driving the growth of the market include the low manufacturing cost of miniature satellites, high demand for miniature satellites in earth observation applications, and increased investments in nanosatellite and microsatellite technologies.

Companies such as 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.) offer solutions and services in the nanosatellite and microsatellite market. These players have adopted various growth strategies, such as expansions, contracts, acquisitions, mergers, partnerships, and new product launches to achieve growth in the market. Partnerships and acquisitions were key strategies adopted by players in the nanosatellite and microsatellite market and accounted for more than half the market share of all growth strategies adopted by major market players. 

The RUAG Group is majorly focusing on inorganic strategies such as partnerships, contracts, acquisitions, and business expansions to achieve growth in the nanosatellite and microsatellite market. For instance, in May 2016, RUAG Space acquired Hoch Technologies System GmbH (HTS) to help RUAG expand its presence to Germany. In August 2015, the RUAG Group partnered with United Launch Alliance (ULA) to establish a composite manufacturing facility within its ULA factory in Decatur, Alabama. This partnership will help provide both organizations with the materials required for space launch missions at low cost.

Clyde Space, Inc. is focusing on a strategic mix of both organic and inorganic growth strategies to gain a competitive advantage in the nanosatellite and microsatellite market. For instance, in November 2016, Clyde Space signed a contract with Kepler Communications to support Kepler in establishing an in-space telecommunications network by providing them two nanosatellites. These nanosatellites will transmit data in real-time from devices deployed by Kepler Communication in the Low Earth Orbit and used in terrestrial as well as space applications. In July 2014, Clyde Space launched its UKube-1 nanosatellite to measure plasmaspheric space weather and test the effect of radiation on space hardware with advanced image sensing technology.

Related Reports:

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

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Report Code
TC 2267
RI Published ON
6/16/2017
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