Nanosatellites and microsatellites are miniature satellites,
which were primarily used in accumulation of scientific data. However, the low
manufacturing cost associated with these satellites, due to their small mass,
has extended their application in several other sectors such as data
distribution, weather information, transport and logistics, and navigation.
Miniaturization of vital electronic components has played a major role in the
establishment of private space agencies and extended the role of small
satellites from being mere payload vehicles.
CubeSats :
CubeSats are miniature satellites, which can be deployed into
space without the dire need of massive launch vehicles. The famed space agency,
The National Aeronautics and Space Administration (NASA) launched Dellingr, a
CubeSat, to navigate the low-earth orbit in 2017. Its primary objective includes
gathering data and other metrics to understand the Sun’s influence on the
Earth’s atmosphere. ArduSats are Arduino-based CubeSats which comprise of an
array of sensors to monitor and locate objects such as ships. Nearly 614
cubesats have been launched as of 2017.
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Launch of
‘Constellations’ :
End-use sectors of nanosatellites and microsatellites include
defense & security, commercial, government, and civil. The commercial
segment is anticipated to showcase a CAGR of 20% during the forecast period (from
2017 to 2025) owing to high utilization of microsatellites in automotive
navigation systems and space agencies. The National Oceanic and Atmospheric
Administration (NOAA) has issued its first contracts for private satellites by
awarding a huge amount in pilot contracts to two major startups, Spire Global
and GeoOptics, to launch mini satellites for accumulating accurate data to
predict weather forecasts.
The government segment is expected to exhibit a significant
growth rate owing to investments in metrology and earth observation. Future
plans of governments to launch satellite constellations coupled with incentives
to encourage developments in space remote sensors can induce demand for
nanosatellites and microsatellites. For instance, the New Zealand government is
planning to develop a Synthetic Aperture Radar (SAR) for monitoring the Exclusive
Economic Zone (EEZ) near its territories.
Market Outlook :
The nanosatellite and microsatellite market is anticipated to
reach a valuation of USD 4.97 billion by 2025, according to a report by Grand
View Research, Inc. Nanosatellite segment is expected to dominate the overall
market growing at a CAGR of 22% from 2017 to 2025 owing to supportive
government regulations encouraging development of small satellites. Development
of CubeSats can also provide novel growth opportunities for the nanosatellite
and microsatellite market. Miniaturization of vital electronic components,
which can reduce launch and manufacturing costs would also have a positive
impact on the market expansion. Prominent players in this market include
SpaceQuest, Ltd.; Innovative Solutions in Space B.V.; GomSpace Group AB; and
Sierra Nevada Corporation (SNC).
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