London, 05 May 2015 – Technavio’s new market research report on the global nano and microsatellite market projects growth at a CAGR of 22.87% and 25.48% from revenue and number of satellites, respectively for the 2015-2019 period.
About the Report
For various military requirements, especially communications, military and defense forces worldwide require space capabilities to meet the demand for more operationally responsive forces. Therefore, the utilization of unmanned aerial vehicles and modern equipment by military forces has increased.
“Military and defense forces are utilizing commercial satellite infrastructure for increased bandwidth requirements, which has led to an increased use of nano and microsatellites,” says Faisal Ghaus, Vice President of Technavio.
“Large constellations of microsatellites can be launched at low costs while providing the required services.”
The new industry analysis report also emphasizes chemical propulsion systems like solid rocket engines that carry a substantial amount of fuel for the mission, which is not possible in the case of nano and microsatellite designs. Micro-thrusters can be used for micro-propulsion of nano and microsatellites.
Market Scope and Calculation of Market Size
This report covers the current scenario and growth prospects of the global nano and microsatellite market for the period 2015-2019. It provides a global overview, segmentation of the market by application and end-users, and growth prospects by region.
Key Information Covered in the Report:
Key Vendors:
- Dauria Aerospace
- Deep Space Industries Inc. (DSI)
- Planet Labs Inc.
- SpaceQuest Ltd.
Market Growth Drivers:
- Growing utilization for military and defense applications
- For a full detailed list, view our report.
Market Challenges:
- Design and manufacturing difficulties
- For a full detailed list, view our report.
Market Trends:
- All-electric propulsion system for satellites
- For a full detailed list, view our report.
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