More Electric Aircraft Market Size, Share Segmented, Applications - Size, Growth, Trends, and Forecasts 2023


The nano and microsatellites are the miniature forms of satellites with a wet mass of 1-10 kg for nanosatellites and 10-100 kg for microsatellite. Market Research Future (MRFR) has recently published a report asserting that the global nano and microsatellites market will expand at a robust CAGR of 23% during the forecast period of 2018-2023
Market Drivers and Restraints:
The rapid advancement in technology and innovation in miniaturization of devices are some of the major factors driving the global nano and microsatellites market. The widespread application of nano and microsatellites for commercial, scientific,military and defense is fueling the expansion of the global nano and microsatellites market. The increasing necessity for reliable communication infrastructure and increased usage of UAVs (unmanned aerial vehicles) in military and defense industry are positively impacting the growth of the global nano and microsatellites market.
The application of nano and microsatellites for scientific and earth observation/remote sensing purposes in various research organizations, for communication, surveillance, and navigation, is inducing demand for these satellites, leading to the growth of the global nano and microsatellites market. The advantages of nano and microsatellites such as low manufacturing and launching cost, increased capability of carrying out complex military missions due to their compressed size, and more manageable proportions are driving the global nano and microsatellites market to higher verticals.
The increased demand for nano and microsatellites for geological research that includes satellite imaging and use of constellations of these satellites to provide enhanced accuracy of global positioning system for direct air travel are driving the global nano and microsatellites market. The increasing support from the government in order to incentivize the developments in space-based remote sensing industry.
However, the drawbacks of nano and microsatellites such as lack of deorbiting system due to the size and weight constraint and presence of a large number of satellites currently in orbit are likely to act as a restraint on the expansion of the global nano and microsatellites market.
Global Nano and Microsatellites Market: Segmental Analysis
The global nano and microsatellites market has been segmented on the basis of purpose and end-users. Based on purpose, the nano and microsatellites market is segmented into earth observation/ remote sensing, science/R&D, communications, and military reconnaissance. Among these, the earth observation/ remote sensing segment is dominating the global nano and microsatellites market due to the heavy investment of space-related organizations in earth observation and increased government investment in metrology and earth observation. The significant growth of communication segment is also fueling the expansion of the global nano and microsatellites market.
Based on end-users, the nano and microsatellites market is segmented into commercial, civil/ government, and military. Among these sectors, the commercial segment is growing rapidly due to the use of nano and microsatellites in communication, mining and agriculture industry. The government segment is anticipated to project significant growth in the global nano and microsatellites market during the forecast period.


Access Report @ https://www.marketresearchfuture.com/reports/nano-micro-satellite-market-1254

The key players of the global nano and microsatellites market are Boeing Space Systems (U.S.), Aerospace Corporation (U.S.), Lockheed Martin Corporation (U.S.), Planet Labs (U.S.), Sierra Nevada Corporation (U.S.), Innovative Solution in Space (ISIS) Group (Netherland), GomSpace A/S (Denmark), Ruag Group (Switzerland), GeoOptics (Colorado), and Surrey Satellite Technology (U.K).



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