Nanosatellite And Microsatellite Market Size, Share & Trends Report

Nanosatellite And Microsatellite Market Size, Share & Trends Analysis Report By Mass, By Application (Communication & Navigation, Scientific Research), By End Use, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-2-68038-230-3
  • Number of Report Pages: 128
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2020
  • Forecast Period: 2022 - 2030 
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the nanosatellite and microsatellite market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for nanosatellite and microsatellite market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of nanosatellite and microsatellite market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Nanosatellite And Microsatellite Market Categorization:

The nanosatellite and microsatellite market was categorized into four segments, namely mass (Nanosatellites, Microsatellites), application (Communication & Navigation, Earth Observation/Remote Sensing, Scientific Research, Technology & Academic Training), end-use (Government, Defense & Security, Commercial, Civil), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The nanosatellite and microsatellite market was segmented into mass, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The nanosatellite and microsatellite market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S.; Canada; Germany; the UK.; China; India; Japan; Brazil; Mexico.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Nanosatellite and microsatellite market companies & financials:

The nanosatellite and microsatellite market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Dauria Aerospace - Dauria Aerospace specializes in providing nanosatellites and small-class satellites. The company offers many satellite services, including communication satellites, imaging satellites, and science & experimental satellites. Additionally, they provide space technical services to support these satellite operations. Dauria Aerospace operates in various business segments, including telecommunications, remote sensing of the earth, and science and education. Recently, the company has forged a partnership with an Indian telecom company to develop a satellite jointly.

  • GomSpace - GomSpace specializes in the design and development of advanced nanosatellites, catering to various sectors such as government, academia, and commercial enterprises. With a global reach, the company serves customers in more than 50 countries, offering expertise in nanosatellite subsystems, system integration, and cutting-edge miniaturized radio technology. In a significant move, GomSpace AB acquired Nano Space AB, a subsidiary of the Swedish Space Cooperation, in October 2016. Nano Space is renowned for its commercial products and solutions in the space industry, encompassing global tracking, IoT, communication, defense and security, remote sensing, science missions, and launch services.

  • Innovative Solutions in Space (ISIS) - ISIS originated as a spin-off from Delft University of Technology, where they were actively involved in a nanosatellite project called Delfi-C3. The organization specializes in conducting research and development tests, operating small-scale space systems, and offering launch services. Their primary expertise lies in space systems engineering, comprehensive space system capabilities, compact systems, and adaptable mechanisms. ISIS supplies partially assembled satellites to clients responsible for developing their payloads. Their solutions encompass ground station kits equipped with antenna assembly and rackable equipment. The company primarily focuses on delivering solutions for satellite systems weighing 1 to 30 kg, including microsatellites, miniaturized satellite components, and compact payload systems. To date, ISIS has successfully launched more than 200 CubeSats and one microsatellite.

  • Sierra Nevada Corporation (SNC) - Sierra Nevada Corporation offers cutting-edge engineering technologies in commercial solutions, space systems, and defense & national security. The company delivers customized solutions to commercial and government clients in various sectors, including space, aviation, cyber, electronics, and system integration. SNC is a leading provider of electronic services and system integration, with expertise in telemedicine, commercial orbital transportation services, and microsatellites. With a global presence across 34 locations, the company serves clients such as NASA, the U.S. military, and private spaceflight companies.

  • SpaceQuest Ltd. - SpaceQuest Ltd. is a renowned company specializing in developing cutting-edge satellites catering to the needs of universities, government agencies, and commercial sectors. The company excels in the design, testing, and manufacturing of spacecraft and space and ground components required for the smooth operation of Low Earth Orbit (LEO) satellites. Since 2017, SpaceQuest Ltd. has successfully launched 18 satellites, showcasing their expertise in the field. In addition to their satellite services, the company also offers affordable ground station components. Notably, NASA, SpaceX, exactEarth, and the Canadian Space Agency are among the prominent customers who rely on SpaceQuest Ltd. for their space-related requirements.

  • Spire Global, Inc. - Spire Global Inc. offers precise data and information obtained through a network of small satellites. With 12 earth observation CubeSats deployed in Low Earth Orbit (LEO), the company has gained a significant edge in providing specialized insights for various sectors, including global trade, weather, and shipping. Mining companies, government authorities, port operators, and Arctic shipping routes rely on the valuable information provided by Spire. The LEO placement of Spire satellites ensures optimal coverage, and they are regularly replaced every two years. Spire Global Inc. has also established offices in San Francisco, Singapore, Glasgow, and Boulder.

  • Surrey Satellite Technology Limited (SSTL) - Surrey Satellite Technology Limited, which originated from the University of Surrey, is now owned by Airbus Defense and Space. This company specializes in producing small satellites and is responsible for executing various space missions related to Earth observations, scientific research, and communication. SSTL is known for its expertise in designing and manufacturing high-performance satellites and ground systems. Additionally, SSTL offers a wide range of subsystems, including power management, actuators & sensors, communication systems, satellite mechanisms, population systems, suites, composite structures and instruments, navigation & on-board data handling systems, earth observation & science platforms, earth observation imaging payloads, telecommunications & navigation platforms, ground segment solutions, and small satellite constellations.

  • The Boeing Company - The Boeing Company is a renowned aerospace company specializing in the production of security systems, space and defense systems, and commercial jetliners. It offers various products and services, including satellites, weapons, electronic and defense systems, advanced information and communication systems, launch systems, commercial and military aircraft, and performance-based logistics and training. To enhance its commercial airplane family, the company has introduced efficient members that have contributed significantly to the development, construction, and integration of military platforms. In 2016, Boeing expanded its portfolio by acquiring Liquid Robotics, an autonomous maritime developer known for its Wave Glider ocean surface robot. Additionally, the company has introduced the Sensor Hosting Autonomous Remote Craft (SHARC), which incorporates the capabilities of a seabed-to-space autonomous system.

  • Tyvak Inc. - Tyvak Inc. operates as a division of Terran Orbital Corporation. The organization provides various products, services, and solutions related to nanosatellite and microsatellite space vehicles. The company's nanosatellite systems are equipped with a fully radiation-tolerant platform, significantly reducing the risk of damage to conventional hardware. Tyvak Inc. primarily serves esteemed customers such as NASA, the U.S. Department of Defense, and the European Space Agency.

  • Vector Launch, Inc. - Vector Launch, Inc. is a forward-thinking organization providing affordable launch services and platforms facilitating launches. By utilizing low-cost microsatellites and software-defined satellites, the company enhances the accessibility and velocity of orbit. The launch vehicle lineup of Vector Launch, Inc. includes Vector H (Heavy) and Vector R (Rapid) launchers. Additionally, these launchers employ cutting-edge technologies and launch facilities, such as pressure-fed carbon fiber fuselage, mobile launch capability, LOX/Propylene fuels, and ablative engines. The company's corporate offices are in Tucson, Arizona, Orange County, California, and Silicon Valley.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Nanosatellite And Microsatellite Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2021, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Nanosatellite And Microsatellite Market Report Assumptions:

  • The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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