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The global nanosatellite and microsatellite market size is expected to reach USD 4.95 billion by 2025, expanding at a CAGR of 22.2% over the forecast periodNEW YORK, July 1, 2019 /PRNewswire/ -- Nanosatellite and Microsatellite Market Analysis Report By Mass, By End Use (Defense & Security), By Application (Communication & Navigation, Scientific Research), And Segment Forecasts, 2019 - 2025 Government support is a key factor encouraging companies to launch nanosatellites and microsatellites for communication and navigation, earth observation, and remote sensing applications.Several governments are developing means to utilize the information obtained from such satellites in a more efficient manner for the public sector. For instance, the UK Space Agency's Space for Smarter Government Program (SSGP) allows departments to share expertise, data, and services related to nanosatellites and microsatellites as well as information obtained from these satellites. However, despite substantial growth of the global market, frequent delays in satellite launches are leading to skepticism. Nevertheless, independent launch vehicles being developed and low-cost sensors being manufactured by key companies are likely to help overcome these growth barriers. Further key findings from the report suggest: • The nanosatellites segment is expected to grow at a significant rate over the forecast period. The progression toward low-cost satellite-based internet services is enabling a transition towards the adoption of these satellites • The earth observation/remote sensing segment is poised to grow at a steady rate over the forecast period as the development of low-mass and low-power navigation sensors in small satellites provides impetus to new remote sensing and earth observation missions • The civil segment is expected to grow at a CAGR of close to 25% over the forecast period as commercialization of small satellites introduces academic institutions and research organizations to space technology • Asia Pacific is expected to be the fastest-growing regional market over the forecast period, owing to increased nanosatellite launches by various academic institutions and increased government support for developing space programs • Key players in the market include GomSpace, Innovative Solutions in Space (ISIS), SpaceQuest Ltd., and Sierra Nevada Corporation. Read the full report: https://www.reportlinker.com/p05785351/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 SOURCE Reportlinker |