Nanosatellite and microsatellite market

Nanosatellite and Microsatellite Market

:

Worldwide

Industry

Analysis and New Market Opportunities Explored

The increasingly competitive nanosatellite and microsatellite market has been witnessing heavy investments in research and development from private as well as government organizations. The entry of several new players has also been observed in the recent past, which is indicative of the rising potential this market possesses. The projected launch of nanosatellites and microsatellites in the coming years is also expected to add to this potential.

The demand for nanosatellites and microsatellites stems from various industry sectors, including military and defense, education and scientific research, commercial, and navigation and mapping. Given the capital intensive nature of large satellites, nanosatellites and microsatellites are the perfect alternative and serve a number of needs in the aforementioned sectors. This growing demand is projected to spur the market to expand at a strong 12.1% CAGR from 2016 to 2024, with the opportunity expected to be worth US$2.2 bn by the end of the forecast period.

Obtain Report Details @ http://www.transparencymarketresearch.com/nanosatellite-microsatellite-market.html Nanosatellites and microsatellites find application in scientific research, communication, navigation and mapping, power, reconnaissance, and others including Earth observation, biological experiments, and remote sensing. In 2015, communications held the dominant share in the market.

Defense organizations have been launching communication nanosatellites and microsatellites to provide communication signals to soldiers stationed in remote locations or in dense forests. A number of companies in the telecom sector are also taking various initiatives to launch constellations of nanosatellites and microsatellites to offer their users faster internet services and additional bandwidth. Applications such as remote sensing and Earth observation are likely to gain momentum in the coming years.

Make an Enquiry @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1995 Asia Pacific is one of the most lucrative markets for nanosatellites and microsatellites.

Technologically advanced countries such as China and Japan have significantly contributed to

the development of nanosatellites and microsatellites in the recent past. Moreover, the shifting focus toward R&D and the continuous development of network infrastructure in Philippines, India, Australia, and Indonesia are likely to give the APAC market a major boost in the coming years. The urgent need for more effective national security measures has also played a key role in influencing the development and launch of nanosatellites and microsatellites.

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