SAN FRANCISCO, Oct. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Nanosatellite and Microsatellite - Global Market Trajectory & Analytics." The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 2742
Companies: 26 - Players covered include Innovative Solutions In Space; Lockheed Martin Corporation; Planet Labs, Inc.; Raytheon Company; RUAG Holding AG; Sierra Nevada Corporation; SpaceQuest Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Software & Data Processing, Services, Launch Services); Vertical (Commercial, Civil, Government, Defense, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlasstm Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
Global Nanosatellite and Microsatellite Market to Reach $5.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Nanosatellite and Microsatellite estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$5.5 Billion by 2026, growing at a CAGR of 20.4% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to record a 16.2% CAGR and reach US$1.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Data Processing segment is readjusted to a revised 21.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $663.1 Million in 2021, While China is Forecast to Reach $988 Million by 2026
The Nanosatellite and Microsatellite market in the U.S. is estimated at US$663.1 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$988 Million by the year 2026 trailing a CAGR of 20.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.1% and 17.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.5% CAGR.
Services Segment to Reach US$1.9 Billion by the year 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 23.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$420.9 Million in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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About Global Industry Analysts, Inc. & StrategyRtm
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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