CubeSat Market - By Component (Structure, Payloads, Solar Panels & Arrays, GSE, C&DH, Software), By Size (1U, 2U, 3U, 6U, Others), By Application (Communication, Earth Observation & Remote Sensing, Mapping & Navigation, Others) & Global Region - Market SiRequest Sample Request Discount
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The global CubeSat market is expected to thrive at a compound annual growth rate (CAGR) of XX% during the said period. CubeSats are a class of research spacecraft called nanosatellites. CubeSats have a mass of no more than 1.33 kilograms per unit, and often use commercial off-the-shelf components for their electronics and structure. CubeSats are miniature satellites that have been used exclusively in low Earth orbit for 15 years and are now being used for interplanetary missions as well. The global CubeSat market reached at a market valuation of USD XX.X Billion in 2019 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2020-2025.
Growth Drivers – CubeSat Market
Growing Number of Space Missions
Space technologies such as satellites are essential instruments for the development and progress of humankind. Satellites are used for earth observation, communication, atmospheric navigation studies, astronomical observations, and military applications. However, the development of giant satellites and carrying missions cost billions of dollars to the government and private space companies. In order to reduce costs in carrying satellite launch missions, scientists came up with small satellites and cube satellites. CubeSats provide a cost-effective platform for science investigations, new technology demonstrations, and advanced mission concepts.
Rising Penetration of Big Data and IoT
As the private space industry is booming and private spaceflight companies are making incredible progress around the world, it is expected that the demand for CubeSats will increase in upcoming years. These nanosatellites are allowing the new space industry to carry out different missions at very low cost and associated with minimum risks. The North America region is expected to have the highest demand for nanosatellite during the forecasted period. These CubeSats in the North America region are widely being used for delivering useful scientific data and commercial services.
Rising Democratization of Space
From the beginning, access to space was prohibitively expensive, and only nations and big corporations with large facilities and an experienced cadre of engineers could finance these ventures. The emergence of private space companies and the development of cheaper ways to carry space missions have made space accessible to a larger group of organizations. SmallSats and CubeSats are perfect solutions for several applications such as space exploration, space imaging, and in various industrial sectors, including commercialization. CubeSats are available in different sizes and are used for complex space missions such as tracking space junk and map the distribution of galactic cosmic radiation across the night sky.
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The research offers a comprehensive analysis of the CubeSat market with respect to following sub-markets:
- Solar Panels & Arrays
- Earth Observation & Remote Sensing
- Mapping and Navigation
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as:
- Clyde Space Ltd.
- EnduroSat AD
- GomSpace A/S
- Innovative Solutions in Space BV
- Interorbital Systems Corporation
- Planet Labs
- Group of Astrodynamics for the Use of Space Systems Srl
- Tyvak Inc.
- Lockheed Martin
- Northrop Grumman
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development expansion, and other market activities).
The study also provides a company’s positioning and market share in the CubeSat market.
Timeline Considered for Analysis:
• 2019- Base Year
• 2020 – Estimated Year
• 2020 to 2025 – Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global CubeSat market by the following segments:
Geographic Market Analysis:
The report offers separate analyses of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Key Questions Answered in the Global CubeSat Industry Report
• What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
• Which region would have a high demand for the product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are the various long-term and short-term strategies adopted by the market players?
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