Lately, the commercial sector has been accentuating the demand for nanosatellites and microsatellites. Ascending demand for data garnered by these satellites is serving as a breeding ground for the nanosatellite market growth. In addition, the amplified production and deployment of CubeSats are further fuelling the market expansion. Unlike traditional satellites that are huge, these satellites are smaller in size and lighter in weight. These small satellites are leveraging cutting-edge technologies such as Artificial Intelligence (AI), and robotics that enhance and simplify their design and development. The utilisation of high frequency (VHF), ultra-high frequency (UHF), and visible transmission technologies in these satellites are poised to improve signal frequencies and transmission speeds. Accelerated demand for satellite data and integration of cutting-edge technologies is anticipated to bode well for the global nanosatellite market.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/nanosatellite-market
Growing Emphasis on Miniaturisation Technology, An Uptick in RD Endeavours Paves Way for Nanosatellite Market Growth
Commercial, civil, and defence sectors are harnessing the full potential of miniaturisation technology. With major RD endeavours underway backed by commercial companies, start-ups, and educational institutions; small satellites are likely to gain traction in upcoming years. Moreover, low barriers to entry alongside institutional funding are unlocking a substantial business opportunity for manufacturers. To this end, the manufacturers are actively engaging in the development of small satellite rockets (SSLVs). Recently, the SSLVs has gained notable momentum owing to launch and cost impediments. Similarly, CubeSat has witnessed an exponential rise in demand. Compared to traditional satellite missions, the cumulative cost of manufacture and launch of CubeSat is very minimal. Such a landscape is pointing toward the novel growth opportunities floating across the global nanosatellite market.
Elevated Demand for Earth Observation Applications to Aid Expansion of Nanosatellite Market
Over the recent past, demand for earth observation applications has risen at a record pace. Earth observation services include resources such as civil protection, climate change detection, agricultural sector monitoring, and meteorology. In the present scenario, high-resolution images of the Earth have left a remarkable impact across the spectrum of industries. Imagery facilitates accurate and precise management of land, water, and forest resources. Furthermore, space-based insights assist in disaster prevention and post-disaster management. Considering shorter development cycles, superior orbital manoeuvrability, and long-term streamlined measurements of critical climate variables, the demand for nanosatellites and microsatellites has increased remarkably.
North America to Consolidate Stronghold Position in Market with Rising Investments in Space-related Activities
North America to spearhead nanosatellite market growth with robust investments in space-related activities. Diverse end-use sectors including research institutes, telecommunications, and military and defence are intensifying the demand for small satellites. Moreover, specific yearly budget allocations in the domain related to space including aviation, science, exploration, space operations, and space technology are creating headways for regional market growth. On the other end, Asia Pacific has emerged as a strong contender and burgeoning regional market. This is mainly accredited to the consistent and aggressive launch of small satellites for communication and navigation in economies such as India, and Japan.
Prominent Market Players
Some of the major players operating in the nanosatellite market include Ruag Group, Raytheon, Clyde Space, Inc., Lockheed Martin Corporation, Sierra Nevada Corporation, Innovative Solution in Space Group, Terra Bella (formerly Skybox Imaging), Planet Labs Inc., and Spacequest Ltd, and GomSpace.
For More Information Visit: https://www.fairfieldmarketresearch.com/report/nanosatellite-market
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published updated to ensure the ever-changing needs of customers are met with absolute promptness.
