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Nanosatellite and Microsatellite Market Share

Report ID: GMI9668
Published Date: May 2024
Report Format: PDF

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Nanosatellite and Microsatellite Market Share

Planet Labs, Sierra Nevada Corporation, and Surrey Satellite Technology Ltd. have established themselves as dominant players holding market share over 28% in the nanosatellite and microsatellite industry, collectively capturing a significant market share. Their dominance can be attributed to several factors. These companies have developed proprietary technologies and expertise in designing, manufacturing, and operating nanosatellite, and microsatellite constellations at scale. They have invested heavily in research and development, enabling them to offer innovative and cost-effective solutions to their customers. They have secured substantial funding from investors and government agencies, allowing them to rapidly expand their satellite constellations and develop advanced data processing and analytics capabilities. This has enabled them to provide unique and valuable data services to their customers across various industries.

Furthermore, these companies have forged strategic partnerships and collaborations with leading aerospace and technology companies, academic institutions, and government agencies. These collaborations have provided them with access to additional resources, expertise, and market opportunities, further solidifying their market position.

Nanosatellite and Microsatellite Market Companies

Major players operating in the nanosatellite and microsatellite industry are:

AAC Clyde Space
GomSpace
Lockheed Martin Corporation
Planet Labs Inc.
Sierra Nevada Corporation
Surrey Satellite Technology Ltd.
Tyvak Nano-Satellite Systems, Inc.
Spire Global, Inc.
NanoAvionics
Northrop Grumman Corporation

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

Industry size for nanosatellite and microsatellite was USD 3.3 billion in 2023 and is projected to expand at over 15% CAGR from 2024 to 2032, due to the increasing number of satellites launched by leading organizations.

The hardware component segment in the nanosatellite and microsatellite industry accounted for over 59% share in 2023 and is projected to grow at notable CAGR between 2024 and 2032, due to the increasing advancements in miniaturization and materials science, enabling more powerful and compact satellite components.

The large enterprises segment in the nanosatellite and microsatellite industry recorded over 75% share in 2023 and is estimated to grow at notable rate between 2024 and 2032, as they offer cost-effective solutions for global communications, earth monitoring, and data collection, proving beneficial and cost efficient for these organizations.

North America market is anticipated to record more than 34% share in 2023 and is anticipated to grow at significant rate between 2024 and 2032, on account of the rising focus on space exploration and increasing number of satellite projects.