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Nanosatellite and Microsatellite Industry Assessment 2020-2025 - Implications of COVID-19, Trends, Opportunities and Use CasesDUBLIN, Aug. 4, 2020 /PRNewswire/ -- The "Nanosatellite and Microsatellite Market by Component (Hardware, Software & Data Processing, Launch Services), Type (Nanosatellite and Microsatellite), Application, Vertical (Government, Defense, Civil), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The global nanosatellite and microsatellite market is expected to grow from USD 1.8 billion in 2020 to USD 4.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period. This report includes an in-depth competitive analysis of key players in the nanosatellite and microsatellite market, along with their company profiles, recent developments, and key market strategies. The report segments the global nanosatellite and microsatellite market by component, type, application, vertical, and region. The satellites are used for several applications, such as communication, earth observation and remote sensing, scientific research, biological experiments, academic training, reconnaissance, and various other applications by the defense, intelligence, civil, commercial, and/or government users. Continuous advancements in the miniaturization of technologies, such as electronics, low-mission costs, and the increasing use of satellite constellations, are major drivers of the market. Hardware segment to lead the nanosatellite and microsatellite market in 2020. Hardware is the core of nanosatellites and microsatellites, which are readily available with vendors for easy integration and plug-and-play processes. Hardware contributes to the complete mass of the satellites, and based on the weight of hardware, small satellites are categorized as nanosatellites or microsatellites. The hardware segment includes subsystems, such as payloads, structures, telecommunications, on-board computers, power systems, attitude control systems, and propulsion systems. The growth in this segment is significant, with a number of players offering low-cost hardware and manufacturing services. Earth observation and remote sensing segment to lead the nanosatellite and microsatellite market in 2020. Nanosatellites and microsatellites have brought novel opportunities for earth observation and remote sensing using inexpensive small satellites to capture images of the earth and gather specific data. Nanosatellites and microsatellites are expected to play a major role in remote sensing missions due to their enhanced computational and communication capabilities, along with competencis in making decisions about the time and data to be shared. Successful programs to develop and examine advanced hyperspectral imaging systems compatible with nanosatellite and microsatellite missions enable small satellites to generate high-quality complex images. North America to lead the nanosatellite and microsatellite market in 2020. North America leads in the adoption of nanosatellites and microsatellites and provides great opportunities for the growth of the overall market. The region has always been an early adopter of new technology or software, and the North American market grows at a faster rate initially as compared to any other region. The demand for nanosatellites and microsatellites in North America is being driven by the booming digitalization across industries along with surging demand for earth observation satellites, which offer extremely high-resolution earth images and videos, as close as 1 meter or less, of the earth's surface. Key Topics Covered Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/nanosatellite-and-microsatellite-industry-assessment-2020-2025---implications-of-covid-19-trends-opportunities-and-use-cases-301105882.html SOURCE Research and Markets |