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Nanosatellite and Microsatellite Market Witness the Growth of $6.7 billion by 2027

(IT-NEWSWIRE.COM, August 24, 2022 ) According to a research report "Nanosatellite and Microsatellite Market by Component (Hardware, Software), Application, Type (Nanosatellite, Microsatellite), Organization Size, Vertical (Government, Civil, Commercial), Orbit, Frequency and Region - Global Forecast to 2027" published by MarketsandMarkets, the global nanosatellite and microsatellite market size is expected to grow from USD 2.8 billion in 2022 to USD 6.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period.

Browse 258 market data Tables and 47 Figures spread through 252 Pages and in-depth TOC on "Nanosatellite and Microsatellite Market - Global Forecast to 2027"

Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130496085

Hardware segment to have the highest market share during the forecast period

Hardware is the core of nanosatellites and microsatellites, readily available with vendors for easy integration and plug-and-play processes. Hardware contributes to the complete mass of satellites based on the weight of hardware; small satellites are categorized as nanosatellites or microsatellites. The hardware segment includes all professional hardware, such as payload, structure, telecommunication, onboard computer, power system, attitude control system, and propulsion system. Hardware contributes to almost 30% of the total market share of the nanosatellite and microsatellite market. The growth in this market is significant, with several players offering low-cost hardware and manufacturing services.

Nanosatellite is expected have the highest market share during the forecast period

A satellite mass if between 1 kg and 10 kg, including fuel are nanosatellites that are only 10 cubic centimeters in size. A range of opportunities in numerous space-based initiatives, ranging from technological research to biological experimentation, were opened up as a result of the launch of the first nanosatellite at the start of this millennium. Numerous advanced methods of control and development have immensely improved the ideal usage. Depending on the mission or assignment a CubeSat is a nanosatellite that has been enlarged to have a standard unit volume of 10 x 10 x 10 cm. In the past, the government, energy, and military defence and intelligence sectors trailed the commercial and civil secotrs in terms of interest in low-mission cost technologies with significant efficiency. The commercial sector is anticipated to have a major boost because of the electronics industry ongoing innovation and technical advancemets.

Request Sample Pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=130496085

North America region to record the highest market share in the nanosatellite and microsatellite market

North America is one of the leading regions for adopting nanosatellite and microsatellite and provides great opportunities for the growth of the overall market. The region has been an early adopter of new technologies or software. The booming digitizationacross industries and the increasing demand fir Earth ibservation satellites, which provide incredibly high-resolution Earth photos and videos as close as one meter or less from the earth’s surface, are driving demand for nanosatellite and microsatellites in North America. NASA and other private space agencies are undertaking small satellite missions. Canada is developing new knowledge and cutting-edge technologies to boost innovation in nanosatellites and microsatellites.

Key and innovative vendors in the nanosatellite and microsatellite market are GomSpace (Denmark), Lockheed Martin (US), L3Harris (US), Sierra Nevada Corporation (US), AAC Clyde Space (Scotland), Planet Labs (US), Surrey Satellite Technology (UK), Northrop Grumman (US), OHB SE (Germany), Tyvak (US), Raytheon Intelligence and Space (US), Pumpkin Space Systems (US), Beyond Gravity (Switzerland), Millennium Space Systems (US), Exolaunch (Germany), Axelspace (US), Nanoavionics (US), GAUSS (Italy), Spire Global (US), Dauria Space (Russia), C3S (Hungary), Swarm (US), Alen Space (Spain), Satlantis (Spain), Dhruva Space (India), Astrocast (Switzerland), Kepler Aerospace (India).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com



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