The space industry has gained significant traction with the technological advancement and is currently being dominated by defense application, owing to various space technologies that have both military and civil applications like weather forecast, surveillance, earth observation, navigation, and many more. The space industry, consisting of satellite services, ground equipment, government space budgets, and global navigation satellite services (GNSS) equipment, is witnessing disruptive technologies such as small satellites (micro, nano, pico, and femto), which have helped in the growth of commercial space sector and account for an increasing number of satellite start-ups. Different nations across the globe are developing their own navigation system, instead of depending upon the Global Positioning System (GPS) by the U.S., and hence, the government is the biggest end-user of the space industry accounting for 24% of the market share in 2015.

There has been an impending need for satellite miniaturization, with sustained capabilities as conventional satellites and cost effectiveness, in various application industries for long. Nanosatellite has emerged as an effective and powerful tool for commercial, defense, government, and academic end-users, for satellite applications such as remote sensing, communication, earth observation, surveillance, scientific research, and navigation, among other. Nanosatellite is emerging as a lucrative market in the small satellite industry. National Aeronautics and Space Administration (NASA) coined the term Nanosatellite, also known as NanoSat, in 2004, for the invention which facilitated development of small satellites for academic research and space science by universities and educational institutes.

The global nanosatellite market is expected to show a robust growth due to an increased investment from the government organizations across the globe. The demand for small satellite constellations has witnessed an upward trend in the last few years and, the advancement in satellite miniaturization and increasing capability of electronic technology will collectively drive the demand for nanosatellites globally. However, development of safer, low-cost and small payload nanosatellite to launch beyond low-earth orbit and, clean-up and removal of space debris are the biggest challenges to overcome by the market.

A large number of countries are now developing their own global navigation satellite system (GNSS), and thus, nanosatellites are being deployed for such emerging satellite application, including disaster management. Such applications are expected to create lucrative opportunities in the market for the coming five years. Major government space organizations, on a global scale, are continuously increasing their investment in the space industry to develop efficient and cost effective satellite solution. For instance, the U.S. government’s budget for space industry accounted for 13.80% of the overall market, and is expected to increase in the coming future, owing to investments in technological development related to major space projects. Furthermore, space budget of Russian space agency, Roscosmos, in 2015 was $3.26 billion. In addition, emerging nations of Asia-Pacific, such as China and India, are also increasing their space budgets.

The nanosatellite market registered a revenue of $127.20 million in 2016, with the government end-user segment accommodating for the highest revenue by 2021. The nanosatellite industry is witnessing a rapid growth in the number of small satellites, owing to the development of huge satellite constellations consisting of hundreds of satellites for applications like earth observation and telecommunications. BIS Research has conducted an extensive market research on ‘Global Nano Satellite Market - Analysis and Forecast (2017-2021)’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.

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