A
new market intelligence study by Transparency Market Research presents a
detailed overview of the global nanosatellite and microsatellite market. The
report is titled “Nanosatellite and Microsatellite Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.” The market
research study provides a comprehensive analysis of the growth drivers, factors
limiting growth, current trends, market structure, and projections of the
market for the period from 2013 to 2019.
With
advancing technology and the rising demand for everything small and compact,
the development of nanosatellites and microsatellites has been made possible.
Nanosatellites are satellites that merely weigh 1 kg to 10 kg and
microsatellites are satellites that weigh 11kgs to 100kgs. The small size and
weight of these satellites make them more economical and feasible for usage for
civil, commercial, government, and military purposes. Nanosatellites and
microsatellites are cost-effective and are thus encouraging many new market
entrants to develop their expertise in space technology.
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The
nanosatellite and microsatellite market is majorly driven by huge investments
from Silicon Valley and the continuous reduction in the price of these
satellites. The integration of hi-tech commercial off-the-shelf electronic
circuits is bolstering the demand for nanosatellites and microsatellites.
Moreover, the future of the nanosatellite and microsatellite market appears to
be bright as space projects by NASA, NRO, DARPA, NSF, and others are expected
to fuel the demand for these satellites.
Of
late, there has been an increase in the investments in space programs by
commercial and private ventures, as they capitalize on the sea of opportunities
opened by low-budget nanosatellite and microsatellite missions such as remote
sensing, communication, and observation of the earth. According to TMR
analysts, the commercial sector will be the largest contributor to the
nanosatellite and microsatellite market in the coming years.
The
report studies the nanosatellite and microsatellite market in the following
areas: Europe, Asia Pacific, North America, and Rest of the World. It provides
a technological growth map of the nanosatellite and microsatellite market and
studies the changing dynamics of the market.
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Some
of the leading market players operating in the global nanosatellite and
microsatellite market are: Lockheed Martin Corp., Gomspace, Geooptics Inc,
Raytheon, Clyde Space ltd, Sierra Nevada Corporation, Ruag, Planet Labs, Surrey
Satellite Technologies Limited, and Northrop Grumman Corp. The detailed study
of these top players given in the report can help readers get an idea about the
challenges faced by these companies, the various factors that helped them grow
in the industry, and the recent developments of these companies.
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