The Global Nanosatellite & Microsatellite Market is expected to grow at a CAGR of around 19.76% during the forecast period, i.e., 2022-27, says MarkNtel Advisors.

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Key Findings of the Study: Nanosatellite and Microsatellite market

Market Drivers

  • Increasing prevalence of LEO (Low Earth Orbit) satellites for better connection at remote & inaccessible areas
  • Accelerating production & launch of small satellites to remodel space industry
  • Rising demand for Earth Observation applications

Growth Opportunities

  • Increasing demand for satellite imagery across non-governmental areas
  • Widening scalability of satellite application across different verticals
  • Consistent technological advancements to transform space exploration.

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Scope of the Report and Nanosatellite and Microsatellite Market Segmentation:

By Type

  • Nano satellite
  • Microsatellite

By Application

  • Remote Sensing and Earth Observation
  • Scientific Research
  • Biomedical Research and Experiments
  • Academic Research & Training
  • Mapping & Navigation
  • Reconnaissance
  • Telecommunication

By Component

  • Hardware (Structure)
  • Communication System
  • Power storage System
  • Altitude Determination and Control System
  • Command and Data Handling System
  • Payload

By End User

  • Defense
  • Energy and Infrastructure
  • Transportation & Logistics
  • Government
  • Others (Telecommunication, etc.)

Of them all, the Defense sector is projected to dominate the market with the largest share over the forecast years.

Geographical Analysis:

By Region

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia Pacific

The rapidly increasing adoption of these satellites across the commercial sector and the rapid digitization across several industries of North America drive the regional market

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