Defence, Marine & Aerospace Nano and Micro Satellite Market Trends & Gorwth

Nano and Micro Satellite Market Growth Expected to Raise by Low Manufacturing Cost in Upcoming Years In 2018, U.S. launched around 150 satellites and twice the number of nano and micro satellites are about to be launched in 2019. According to a recently published report by Research Nester on “Global Nano and Micro Satellite Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global nano and micro satellite market in terms of market segmentation by application, by end users and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. Nano and Micro satellites market is witnessing continuous advancements in technology on account of their simple and faster construction and design requirements. The low cost of these satellites has widened the range of possible space missions in various verticals. Simplified designing and development allows the incorporation of latest technologies such as Artificial Intelligence (AI) and robotics in small satellites to enhance their capabilities. Attributing to these factors, market was valued at USD 1.29 Billion in 2018 and is estimated to reach USD 5.1 Billion by 2027. The market is anticipated to record a CAGR of around 20.8% over the forecast period i.e. 2019-2027. The market is segmented by application & end users. The market is segmented by application into scientific research, earth observation/ remote sensing, communication & navigation, technology and academic training, others out of which, the earth observation/ remote sensing segment is