Nano and Microsatellite Market worth $1887.1 Million by 2019
DALLAS, March 11, 2014 /PRNewswire/ –
The report “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)”, defines and segments the global Nano and Microsatellites market into various
sub-segments with in-depth analysis and forecast of revenues. It also identifies drivers
and restraints for this market with insights into trends, opportunities, and challenges.
Browse more than 71 market data tables with 33 figures spread through 166 pages and
in-depth TOC on ‘Nanosatellite and Microsatellite Market”.
Early buyers will receive 10% customization on this report.
The Nano and Microsatellite Market is estimated to grow from $702.4 million in 2014 to
$1887.1 million in 2019. This represents a Compound Annual Growth Rate (CAGR) of 21.8%
from 2014 to 2019. Commercial sector is expected to be the largest contributor for Nano
and Microsatellite by 2019. In terms of regions, APAC is expected to be the biggest market
in terms of revenue contribution by 2019 surpassing North America.
The major forces driving this market are price reduction, increasing demand,
investments from Silicon Valley, superior mission launches and continual decrease in
average satellite mass. The significance of the Nano and Microsatellite has increased, due
to increase in number of application areas such as academic training, scientific research,
earth observation, remote sensing and many others wherein such satellites can be
leveraged. The increase in use of these satellites across a range of commercial
applications in all regions of the world has been noted as one of the major factors behind
continual increase in Nano and Microsatellite Market size.
Players such as Lockheed Martin, Northrop Gruman, Raytheon, Surrey Satellite
Technologies, Sierra Nevada Corp, Clyde space, planet labs and many others are expected to
provide technological advanced satellites and offer better competitive services. The
companies in this industry must take advantage of the growing awareness of Nano and
Microsatellite in the high growth markets such as Middle East and Africa (MEA) as well as
Asia Pacific (APAC). Earth observation and remote sensing, space science and academic
training are the applications having high growth rate in the market.
MarketsandMarkets has segmented the Nano and Microsatellite Market by mass: 1kg to
10kgs; 11kgs to 100kgs; by type of solutions: hardware, software, services, launch
services; by applications: communication; earth observation and remote sensing; biological
experiments; academic training; technology demonstration and verification; scientific
research and reconnaissance; by verticals: defense and intelligence; commercial;
government and civil; and by regions: North America (NA), Asia Pacific (APAC), Europe
(EU), Middle East and Africa (MEA) and Latin America (LA).
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