Global Nano Satellite Market Analysis 2017-2021 Global Nano Satellite Market Analysis 2017-2021 | Page 3

Global Nano Satellite Market - Analysis and Forecast 2017-2021
Global Nano Satellite Market Size, 2016-2021
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2016
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2017
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2018
2019
2020
2021
Source: BIS Research Analysis
The global market for nano satellite was estimated to be $127.2 million in the year 2016. Nano
satellite market is filled with developments for emerging technologies such as 3-D printed
electronic components, on-board internet system, and electronic propulsion system, among
others, which are expected to increase competition in the near future as well as facilitate
utilization of nano satellite as primary satellite for the space mission. The nano satellite market
is expected to grow at a double digit CAGR during the forecast period, 2017-2021.
At present, government end user holds major share of the global nano satellite market owing
to high investment by government space agencies in developing efficient and cost effective
satellite subsystems for nano satellite, in order to meet its demand in varied applications
such as earth observation, communication, navigation, remote sensing, academic research,
and space exploration. Additionally, industries including IT & telecommunication, agriculture,
mining, and oil & gas, among others as well as commercial end users are expected to find huge
opportunities in the nano satellite market.
Different applications of nano satellite includes communication, intelligence, surveillance,
& reconnaissance (ISR), earth observation & remote sensing, academic research & space
exploration, navigation, and technology demonstration. Currently, academic research & space
exploration application of nano satellite have the highest penetration in the market owing
to the demand for cost efficient satellite solution to increase access of space to developing
nations, colleges, and universities. However, navigation application of nano satellite is expected
to garner highest growth in the market mainly driven by continued developments by different
nations for new features in GNSS to improve their performance.
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