Nanosatellite And Microsatellite Industry Overview

The global nanosatellite and microsatellite market size was valued at USD 2.12 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) exceeding 23.3% from 2022 to 2030.

The growing demand for miniaturized satellites across multiple verticals is expected to provide an impetus to market growth. For instance, in November 2021, a Japan-based Epsilon rocket launched nine miniature satellites into orbit in the latest endeavor to encourage educational institutions and businesses to participate in space exploration.

Gather more insights about the market drivers, restrains and growth of the Nanosatellite And Microsatellite Market

The launch of small satellites via heavy vehicles has proved to be quite challenging over the recent years, resulting in the increased demand for small launch vehicles. Earlier, small satellites were launched as an additional payload with larger satellites, which increased launch and cost constraints. The growing demand for small launch vehicles that can overcome these cost constraints culminated in the development of Small Satellite Launch Vehicles (SSLVs). For instance, in April 2022, China's scientists worked on a fleet of small satellites for cutting-edge astronomical investigations.

Furthermore, low entry barriers and private and institutional funding are allowing manufacturers to aggressively develop SSLVs and capture a potential share in the nanosatellite market. For instance, in April 2022, the chairman of the Indian Space Research Organization, the national space agency of India, announced the deployment of an SSLV-D1 Micro SAT, a small satellite launch vehicle. The SSLV-D1 Micro SAT seeks to serve the industry to deploy miniature satellites into the Earth's lower orbits to meet the needs of developing economies, universities, and private enterprises.

Small satellites are witnessing continuous technological advancements owing to their simple and faster construction & design requirements. The low cost of these satellites has broadened the range of possible space missions. Moreover, simplified design and development are also allowing the integration of the latest technologies such as Artificial Intelligence (AI) and robotics in small satellites. Furthermore, these satellites are using Very High Frequency (VHF), Ultra High Frequency (UHF), and visible transmission technologies to increase the signal frequency and transfer speeds.

Nanosatellites and microsatellites are more prone to failure and do not have any major impact in terms of providing any novel and market-redefining capabilities. However, Machine Learning (ML) intelligence on various space development platforms is contributing to ensuring efficient communications, improving spacecraft reliability, ensuring efficient computing capabilities, and enhancing coordination for the overall development of a mission. These satellites are also expected to provide actionable data insights to governments and humanitarian partners, among others.

Browse through Grand View Research's Communication Services Industry Research Reports.

• The global machine learning market size was valued at USD 36.73 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 34.8% from 2023 to 2030.
• The global artificial intelligence market size was estimated at USD 196.63 billion in 2023 and is projected to grow at a CAGR of 36.6% from 2024 to 2030.

Nanosatellite And Microsatellite Market Segmentation

Grand View Research has segmented the global nanosatellite and microsatellite market based on mass, application, end-use, and region:

Nanosatellite And Microsatellite Mass Outlook (Revenue, USD Million, 2017 - 2030)

• Nanosatellites
• Microsatellites

Nanosatellite And Microsatellite Application Outlook (Revenue, USD Million, 2017 - 2030)

• Communication & Navigation
• Earth Observation/Remote Sensing
• Scientific Research
• Technology & Academic Training

Nanosatellite And Microsatellite End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Government
• Defense & Security
• Commercial
• Civil

Nanosatellite And Microsatellite Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

Key Companies profiled:

• Dauria Aerospace
• GomSpace
• Innovative Solutions in Space (ISIS)
• Sierra Nevada Corporation (SNC)
• Spire Global, Inc.
• SpaceQuest Ltd.
• Surrey Satellite Technology Limited (SSTL)
• The Boeing Company
• Tyvak Inc.
• Vector Launch, Inc

Key Nanosatellite And Microsatellite Company Insights

Nanosatellite and microsatellite have witnessed substantial growth in terms of spacecraft development, building, and launches over the past decade. The CubeSat concept enabled companies to find a different role in satellite design compared to their traditional roles. Moreover, large system integrators dominated the space industry for a long time but advances in the small satellite industry allowed smaller companies such as Innovative Solutions in Space (ISIS) and Tyvank Inc. to emerge and have a more established role at the forefront of the small satellite industry.

For instance, in March 2021, Rocket Lab USA, a public American aerospace manufacturer and small satellite launch service provider launched seven small satellites into the Earth’s orbit, including its spacecraft for future missions. The seven payloads sent into space included an Earth-observation microsatellite and two "internet of things" nanosatellites. Furthermore, there were three experimental satellites onboard and a tech-demo CubeSat for the U.S. Army's Space and Missile Defense Command (SMDC). 

Order a free sample PDF of the Nanosatellite And Microsatellite Market Intelligence Study, published by Grand View Research.