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(IT-NEWSWIRE.COM, June 03, 2022 ) MarketsandMarkets forecasts the global Nanosatellite and Microsatellite market size to grow from USD 2.3 billion in 2021 to USD 5.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period. Nanosatellites and microsatellites incorporate recent software and hardware improvements, most notable ones derived from IT and electronics industries, and benefit from the resulting high capability that is feasible in small packages. Compared to traditional satellites, nanosatellites and microsatellites have shorter development cycles, smaller development teams, and consequently, lower cost, both for the development and launch of satellites.
The nanosatellite and microsatellite market is thriving, and in the coming five years, it is expected to present huge potential opportunities in the satellite communication segment to various satellite equipment manufacturers, satellite service providers, and satellite launchers. In this research report, the nanosatellite and microsatellite market has been segmented into component, type, orbit, application, and vertical. Further, it is segmented across geographical regions, such as North America, Europe, APAC, and RoW. The market has been segmented into diverse verticals, including government, civil, commercial, defense, energy and infrastructure, and maritime and transportation. In terms of application, the nanosatellite and microsatellite market has been segmented into communication, Earth observation and remote sensing, scientific research, biological experiments, technology demonstration and verification, academic training, mapping and navigation, and reconnaissance.
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The key and emerging market players in the nanosatellite and microsatellite market include GomSpace (Denmark), Lockheed Martin (US), L3Harris(US), Sierra Nevada Corporation(US), AAC Clyde Space(Scotland), Planet Labs(US), Surrey Satellite Technology(England), Pumpkin(US), OHB SE(Germany), TYVAK (US), NanoAvionics (US), Northrop Grumman (US), GAUSS(Italy), Spire Global(US), SpaceQuest(US), Dauria Aerospace(Russia), RUAG Space(Switzerland), Raytheon(US), EnduroSat(Bulgaria), Astrocast(Switzerland), Millennium Space Systems(US), Swarm(US), Alen Space(Spain), Excolaunch(Germany), and Axelspace(Japan). These players have adopted various strategies to grow in the global nanosatellite and microsatellite market
GomSpace is a global provider for designing, integrating, and manufacturing high-end nanosatellites for customers in academic, government, and commercial sectors. The company offers integrated systems, nanosatellite subsystems, and advanced miniaturized radio technology. GomSpace offers a wide range of solutions in the field of nanosatellite and microsatellite. The company offers mission payloads, power systems, communication systems, command and data handling, and orbit control systems. GomSpace has expertise in attitude and orbit control systems design for nanosatellites and includes extensive flight heritage from GOMX in-orbit technology demonstration program. GomSpace’s command and data handling provide multiple powerful onboard computers miniaturized to small Printed Circuit Boards (PCBs), yet it includes several features needed to run the satellite platform. The company provides solutions such as IoT, Global Tracking, Communications, Defense and Security, Remote Sensing, and Science Missions. Gomspace has subsidiaries in Sweden, Luxembourg, and offices in the US and Singapore. The company serves industries that include space agencies, commercial businesses, military and national authorities, universities, and ambitious science groups. The company has a presence in more than 50 countries.
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Lockheed Martin is a global provider of security and aerospace solutions. The company offers research, design, development, manufacturing, integration, and sustainability of advanced technology systems, products, and services. The company offers a wide range of management, engineering, technical, scientific, logistics, system integration, and cybersecurity services. Lockheed Martin’s space segment offers the LM 50 product line, consisting of satellites, ranging up to 100 kg. The LM 50 product line is focused on small, low-cost spacecraft technology. Because of the small size of the spacecraft, there is only a limited Size, Weight, and Power (SWaP) available for LM 50 class payloads. The company operates through four business segments: aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and space, previously known as space systems.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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