anticipated to have leading shares on account of several governments
continuing to invest in the earth observation and meteorology projects. The
market is further segmented by end users into defense & security,
commercial, government, civil, others out of which, commercial segment
accounted for the largest share in the market owing to increase in
broadcasting, communication and navigation activities.
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North America is anticipated to hold largest share in the market and witness
healthy growth in the near future owing to the rising contribution from the
U.S. and advanced technologies that are estimated to assist space research
Europe is anticipated to be the fastest growing region on account of the
companies investing more in the nano satellite technology and start-ups and
universities in Europe are now collaborating with the launch service
providers in order to launch their own nano and micro satellites. Asia Pacific
is projected to offer lucrative opportunities in the near future attributing to
increasing focus on the development of network infrastructure and research
and development activities.
Increasing Applications and Low Manufacturing Cost
Rise in the demand for micro satellite in the Earth observation application
and the low manufacturing cost of the nano and micro satellites are the
factors that are predicted to enhance the growth of the market. Investments
in the nano and micro satellites technologies have been increasing since the
last few years which has brought some innovations in the market. The
demand for these satellite is increasing in various applications. These factors