New Analysis from Global Industry Analysts Reveals Strong Growth for Nanosatellite and Microsatellite, with the Market to Reach $5.5 Billion Worldwide by 2026

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.

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ABSTRACT-

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.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.