Nanosatellite and Microsatellite Market

Nanosatellite and Microsatellite Market Overview - Trends and Forecasts

Nano and microsatellites developed for commercial applications is expected to account for largest market share by 2019. Multi Mission Microsatellite Bus (MMMB) offers the ability to field a microsatellite, or constellation of microsatellites. To meet global real-time data collection, distribution at a surprisingly cost-effective price is a solution to the problems faced by commercial companies that collect or distribute data across a wide geographic area from or to their customers. However, there are few revenue pockets, namely civil and government that will witness significant growth in the forecast period.

In terms of applications, earth observation & remote sensing, technology demonstration & verification and scientific research are expected to be the top three application areas leveraging nano and microsatellites by 2019. 

Nano and microsatellites are used for technology demonstration and verification in order to 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 such as lightweight power and propulsion systems, avionics, and spacecraft structures. It also enables demonstration for small satellite’s built using these new technologies and techniques over a period of 1 year. Inserting small satellites into geostationary satellites can also be tried and tested using the ability of such satellites for demonstration. Nano and microsatellites also help in gaining experience in the operations and establishing the potential utility of smaller satellites for future Defense Department missions in a geostationary orbit. An assembly of lightweight technologies integrated into high-performance microsatellites is being developed by Microsatellite Demonstration Science and Technology Experiment Program (MiDSTEP) to demonstrate these advanced technologies and their capabilities. Thus, the space community is gaining on confidence with the help of different aiding software packages along with space knowhow gathered through low-cost consistent nano and microsatellite-based test programs.

Such satellites are also increasingly being used for scientific research and other science-related space missions, which require extreme opto-mechanical steadiness and precision, using these small and cost-effective satellites. They are now being used for space exploration such as missions to individually rendezvous with number of Near-Earth Objects (NEOs), at very low cost. Data generated from such missions are invaluable in the NEO mapping, impact damage forecast, and impact offset measure planning contexts. Unique interplanetary missions such as SIMONE have been conceptualized, using a fleet of low-cost microsatellites, to individually rendezvous with a different NEO, each of a distinct spectral and/or physical type. Other space science missions using nano and microsatellites could include studies pertaining to university or other academic-based researches such as profiling of various rocks and mineral present within the crust of earth and other planetary bodies. Endless prospects in space research are expected to open up further as technology gets further evolved.

Related Reports:

Nanosatellite and Microsatellite Market [Geographic Information system, Payload, Space Science, Satellite Communication, Satellite Imagery, Remote Sensing, Scientific Research, Reconnaissance, Satellite Launch] - Worldwide Market Forecast (2014 - 2019)
https://www.marketsandmarkets.com/Market-Reports/nanosatellite-and-microsatellite-market-130496085.html

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Report Code
TC 2267
Published ON
Jun, 2017
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