The global nano and microsatellite market is anticipated to grow at a CAGR of 23.3 % during the forecast period (2023-2030). Small satellites, additionally known as nano and microsatellites, offer cost-effective solutions to various industries. These satellites can be developed quickly and deployed rapidly, providing global coverage and increased accessibility to remote areas. Applications of small satellites include agriculture, urban planning, disaster management, communication and connectivity, space exploration, climate studies, technology testing and demonstration, and commercial and defense applications. Furthermore, the market’s growth is attributed to growing demand for data and connectivity across the globe. The growing need for data, connectivity, Earth observation, and IoT services drives the need for fragile satellite constellations to provide globally accessible coverage and data services. For instance, in July 2023,Space Flight Laboratory (SFL) launched and orbital deployment of the Telesat LEO 3 demonstration microsatellite at 1:27 UTC, furthermore LEO 3 is the 13th successful deployment of a LEO satellite, launched from New Zealand by the Rocket Lab Electron launch vehicle. SFL developed a microspace mission.
Browse the full report description of “Nano and Microsatellite Market Size, Share & Trends Analysis Report by Application (Communication and Navigation, Earth Observation, Scientific Research, Space Observation, and Others), by Orbit Class (Geostationary Orbit (GEO), Sun-Synchronous Orbit (SSO), Polar Orbit, and Others), and by End-User (Commercial Sector, Governmental and Institutional Users, Military, and Civil), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/nano-and-microsatellite-market
Furthermore, OQ Technology's "Tiger-3" payload is designed to meet the increasing demand for 5G IoT/M2M communication, that provide global connectivity for machine-to-machine communication. This in turn is driving the need for small satellite constellations. In April 2022, MP42 is NanoAvionics’ launched it has been developed on one of the industry's first commercially available modular microsatellite buses. The MP42 mission is a rideshare mission that is part of the company's ongoing program. It can accommodate numerous payloads, including OQ Technology's "Tiger-3," that's add another satellite to its 5G IoT/M2M (machine-to-machine) communication constellation, and VeoWare's RW500 fully integrated reaction wheel.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By System
o By Product
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Axelspace Corp., Capella Space Corp., China Aerospace Science and Technology Corp.(CASC), German Orbital Systems GmbH, GomSpace A/S, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Nano and Microsatellite Market Report Segment
By Application
By Orbit Class
By End-User
Global Nano and Microsatellite Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/nano-and-microsatellite-market