Global Nano & Microsatellite Market Dynamics, Growth and Forecast Report (2024-2032) | UnivDatos
According to a new report by UnivDatos, Nano & Microsatellites are expected to reach USD Million in 2032 by growing at a CAGR of 20.11%. The rising demand for Nano & Microsatellite is due to the key factor that has contributed to the growth, which is the increasing focus on earth observation through nano and microsatellites. As these satellites offer a balance between cost and performance for a wide range of applications such as satellite navigation constellation or satellite communication, the satellite types have become a lucrative choice.
Growing Demand:
The growing demand for earth observation satellites under the nano and microsatellite category is one of the paramount segments that has assisted its market expansion. As these satellites offer a balance between cost and performance for various applications such as satellite navigation constellation or satellite communication, the satellite types have become a desirable choice.
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For instance, in 2021, Poland announced the launch of its first microsatellite, focusing on providing services related to earth observation. The 50 kg satellite, Eagle Eye, is based on the HyperSat microsatellite platform in development by Creotech Instruments.
In another instance, Greece announced an investment of USD 70 million in an earth observation microsatellite constellation. In 2023, three companies, OHB Hellas, Thales Hellas, and SITAEL Hellas, were all selected for the study phase of the project’s development.
Various other factors have also contributed to the surge in demand for Nano & Microsatellites due to the government and private organizations focusing on offering remote internet connectivity. To achieve this, a large number of satellites are launched of smaller size that can provide internet connectivity in distant locations across the globe. For instance, in 2023, Satellite Technology and Research Center (STAR) Singapore announced the launching of its Luminite-4 microsatellite from Satish Dhawan Space Center India. The satellite would offer a satellite-based high-performance VHF Data Exchange System (VDES), which will considerably improve maritime communications and traffic management and analytics.
Additionally, various government policies and regulatory support are also developing frameworks to support the deployment of Nano & Microsatellite. This also includes guidelines for testing and operations, which would help the ecosystem of satellite demand to grow and help the Nano & Microsatellite market in the long run.
Applications:
Nano & microsatellites are smaller satellites orbiting around the Earth with the objective of delivering Earth observation, satellite communication, navigation, etc. These satellites are smaller in size than nanosatellites and microsatellites, ranging between 1 to 10 kg and 10 kg to 100 kg, respectively. These satellites are highly cost-effective for limited time-period operations such as telecommunications, earth observation, scientific research, and technology demonstration.
Nano and microsatellites offer various advantages over other large-sized satellites, such as reduced weight causing lowered launch cost, better suited for space operations for a couple of years, miniaturization of components, structure, etc., to ease handling and operations. Considering the vast application in earth observation, remote sensing, scientific research, and communication, and to be used as a technology demonstrator, the market for nano and microsatellites is further anticipated to rise in the forthcoming years.
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Technological Innovation:
Post Production techniques and powder bed infusion innovations are some of the notable technological advancements in the Nano & Microsatellite sector. Technologies such as selective laser melting and electron beam melting have witnessed continuous improvement in software control, machine hardware, and powder handling processes. These improvements help in resulting tighter dimensional accuracy improved surface finish in the final result, etc.
Post processing techniques have also enhanced significantly considering the innovations in heat treatment, surface finishing, machining, dimensional accuracy, etc. Advanced post-processing methods enable the production of parts that meet the strict requirements of aerospace applications. This would further improve and assist market growth in the forecasted years, i.e., 2024-2032.
Conclusion:
In conclusion, the Global Nano & Microsatellite market is poised for continued growth and innovation driven by economic expansion, satellite launches, technological advancements, and sustainable practices. The increasing demand for space tourism and satellite communication, as well as the need for improved production techniques in the satellite industry, underscores the pivotal role of Nano & Microsatellite across the globe. As stakeholders navigate challenges such as cost management, regulatory compliance, and market competitiveness, collaborations, investments in Nano & Microsatellite infrastructure, and rising demand for military and commercial satellites would also play a vital role in shaping the future of the Global Nano & Microsatellite market, ensuring its resilience and contribution to the global satellite launch industry.
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