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The global nano & micro satellite market is expected to grow with the CAGR of approximately 23.9% during the forecast period 2016-2023. The nano & micro satellite market is valued at around $1.08 billion in 2016. The global nano & micro satellite market is expected to reach to $4.85 billion by the end of 2023. The growing number of nano & micro satellite launches due to cost effectiveness of the nano & micro satellite is adding meaning full growth in the global market. According to National Aeronautics and Space Administration (NASA), in 2015, they have launched around 3 nano & micro satellite. Furthermore, in 2016, around 101 nano & micro satellite was launched across the globe as per space works. Key factors driving the global nano & micro satellite market includes:
However, there are few factor such as lack of budget and delays in launch that are restricting the growth of the global nano & micro satellite market. The delays in launch is one of the major factor that is restricting the growth of the global nano & micro satellite market. The major launch failure are as follows: June 2015; Failure of launch of Falcon 9 that is around 6 months’ delays from the launch date. November 2015; Failure of launch of Super Strypi that has resulted into loss of 51 (small, nano, & micro) satellites
Thus, the delays in launch of satellite is backlogging the growth opportunity of the global nano & micro satellite market. Moreover, the increasing application of nano & micro satellite earth observation& remote sensing, technology, communication, etc. is creating gigantic opportunity for the global nano & micro satellite market. Growing demand for mapping and surveying is one of the major factor that is growing demand for nano & micro satellite in earth observation & remote sensing. Advent of small satellite a high initial investment are some challenges for the market.
Source: OBRC Analysis
The global nano & micro satellite market is segmented into vertical, application and mass. On the basis of vertical segment the market is sub-segmented into:
On the basis of application segment, the market is sub-segmented into:
On the basis of mass segment, the market is sub-segmented into:
The report scope is widely categorized on the basis of its components which include software, hardware and services. Moreover, the market revenue estimates and forecast includes only smart security systems and exclude the conventional security systems.
Geographically, the global nano & micro satellite market has been segmented on the basis of four major region, which include:
North America held largest market share of around 40%, in terms of revenue in 2016 in global nano & micro satellite market. The growth in North America nano & micro satellite market mainly driven by the presence of key players such as Planet Labs Inc., Sierra Nevada Corporation, etc. all such players are adopting various initiatives which is boosting the growth in the market. In 2015, Planet Labs has attempted to launch more than 50 CubeSats. NASA is one of the prominent organization in the world which is in the continuous development of technology for space satellite technology. According to National Aeronautics and Space Administration (NASA), by the end of 2020 there is a need of launching 2750 nano & micro satellite across the globe. Hence, the growing number of launches across the globe is boosting the growth in the global market. Asia Pacific is the fastest growing region in the global nano & micro satellite market. The growth in the Asia Pacific region is mainly driven by the growing investment activity in the developing countries such as India, China, etc. Indian government is in the continuous development of low cost satellite launching techniques in the world. One of the finest example of low cost satellite launching technique is launch of PSLV - C28 by Indian Space Research Organization (ISRO) which was launched in 2015, moreover in June 2017, PSLV - XL - C38 will be launched by Indian Space Research Organization (ISRO). Hence, the growing initiative by the governments for the development of nano & micro satellite in the developing countries is boosting the growth in the Asia Pacific nano & micro satellite market.
In application segment the earth observation and remote sensing held the largest market share of around 40% in 2016. The cost effectiveness and image preciseness are the key factor which is attributing towards the large share of earth observation and remote sensing application. Moreover, the communication application segment is fastest growing segment in the global nano and micro satellite market application segment. The launch of PSLV-C28/DMC3 by Indian Space Research Organization in 2015 has taken 45 foreign satellites out of which around 33 are nano & micro satellites from different countries for different applications out of which military, scientific inquiry, earth observation and remote sensing are the major application areas. Hence, the increasing launch of nano & micro satellite for application areas such as earth observation and remote sensing, military, etc. are boosting the growth in the application segment.
The major market players of the global nano & micro satellite market are:
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. Example, in 2015, Thales Alenia space and Nanyang Technological University has joined their hands to develop nano satellite and micro satellite. Moreover in 2017, South Korean Space Agency KARI and Thales Alenia Space entered into a contract agreement to supply a satnav overlay system to Korean Augmentation Satellite System (KASS). Thus, the growing strategic initiative adopted by the companies allows them to take competitive advantage over other companies in the market.
Why to buy the report:
This report will provide you:
· Provide you the business strategies adopted by market player such as agreement that is on in 2017, South Korean Space Agency KARI and Thales Alenia Space entered into a contract agreement to supply a satnav overlay system to Korean Augmentation Satellite System (KASS).
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global smart security market offers the longest chain of market segmentation covering major market segmentation based on products and end users.The report tracks the major market trends in the global smart security market such as development in video surveillance technology, content management and adoption of home cloud solutions and so on. For each market segments covered in global nano & micro satellite market report, we provide opportunity matrix, and DRO analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the smart security industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key Findings of the global nano & micro satellite market:
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