Nano Satellite Market Revenue To Increase Extensively With USD 7.02 Bn Earnings By 2028

29-Apr-2022 | Zion Market Research

According to Study of Zion Market Research, Nano Satellite Market garnered returns of around US$ 3.01 billion in 2021 and is slated to accrue income of almost US$ 7.02 billion in 2028. Apparently, Nano Satellite Market is foreseen to register a CAGR of about 22.1% in timeline from 2022 to 2028. Moreover, expansion of Nano satellite market over forecasting period is subject to rise in space exploration missions in current years along with low cost of launching Nano satellites in comparison to other conventional ones. Apart from this, breakthroughs in satellite miniaturization along with installation of new technologies are some of the growth drivers of Nano satellite industry. Additionally, Nano satellites are embedded with new equipment including accelerometer and magnetometer that offers compass reading along with detection of magnetic field. This, in turn, will create new growth avenues for Nano satellite industry in ensuing years. However, as Nano satellites are low earth orbital satellites and inability of low earth orbital satellites to get stabilized in these low earth orbits can pose a threat to expansion of Nano satellite industry.

Defense Segment To Dominate End-User Landscape By 2028

Growth of defense segment over forecasting period can be credited to massive use of space satellites in military applications. In addition to this, Nano satellite constellations         provide situational awareness & govern myriad defense requirements including collecting of data from distant places for monitoring sea & meteorological conditions. Apparently, they are also used in remote sensing & surveillance activities.

Global Nano Satellite Market

European Nano Satellite Market To Record Fastest Growth Over 2022-2028

Growth of Nano Satellite Market in Europe over forecasting timeline is subject to rise in government funding of space programs along with rising focus on strengthening defense activities. Additionally, prominent use of Nano satellite in monitoring farming, mining, and telecom activities will further escalate regional market surge.

Some of the key participants have lucratively influenced growth of Nano satellite market and is likely to continue with the trend in ensuing years. They are Planet Labs PBC, Lockheed Martin Corporation, SpaceQuest, Ltd., Raytheon Technologies Corporation, AAC Clyde Space, RUAG Holding, ISISPACE (Innovative Solution in Space), Sierra Nevada Corporation, Terra Bella (formerly Skybox Imaging), and GomSpace.

Browse the full Nano Satellite Market - By Solution (Hardware, Software, And Data Processing Services ), By Mass (1 Kg To 10 Kg), By Application (Communication, Earth Observation & Remote Sensing, Scientific Research, Biological Experiment, Technology Demonstration & Verification, Academic Training, Reconnaissance & Mapping, And Navigation), and By End-User (Government, Civil, Commercial, Defense, Infrastructure, Energy & Utilities, And Maritime & Transportation) : Global Industry Perspective, Comprehensive Analysis And Forecast, 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/nano-satellite-market

The global Nano Satellite Market is segmented as follows:

By Solution

  • Hardware
  • Software
  • Data Processing Services

By Mass

  • 1 Kg To 10 Kg

By Application

  • Communication
  • Earth Observation & Remote Sensing
  • Scientific Research
  • Biological Experiment
  • Technology Demonstration & Verification
  • Academic Training
  • Reconnaissance & Mapping
  • Navigation

 By End-User

  • Government
  • Civil
  • Commercial
  • Defense
  • Infrastructure
  • Energy & Utilities
  • Maritime & Transportation

 By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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