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Global Nanosatellite and Microsatellite Industry (2021 to 2027) - Key Market Trends and Drivers - ResearchAndMarkets.com

·3-min read

DUBLIN, October 18, 2021--(BUSINESS WIRE)--The "Nanosatellite and Microsatellite - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Nanosatellite and Microsatellite estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$6.5 Billion by 2027, growing at a CAGR of 20.4% over the analysis period 2020-2027.

Hardware, one of the segments analyzed in the report, is projected to record a 16.2% CAGR and reach US$1.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Data Processing segment is readjusted to a revised 21.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $531.5 Million, While China is Forecast to Grow at 20.2% CAGR

The Nanosatellite and Microsatellite market in the U.S. is estimated at US$531.5 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2027 trailing a CAGR of 20.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.1% and 17.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.5% CAGR.

Services Segment to Record 23.7% CAGR

In the global Services segment, USA, Canada, Japan, China and Europe will drive the 23.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$420.9 Million in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$779.7 Million by the year 2027.

Select Competitors (Total 42 Featured):

  • Innovative Solutions In Space

  • Lockheed Martin Corporation

  • Planet Labs, Inc.

  • Raytheon Company

  • RUAG Holding AG

  • Sierra Nevada Corporation

  • SpaceQuest Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • World Market Trajectories

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 42

For more information about this report visit https://www.researchandmarkets.com/r/vyfmnl

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005501/en/

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