BIS Research - Emerging Technology Market Intelligence

Space Industry to Reach Higher with the Increase in the Demand of Nanosatellites

Jun 12, 2017 6:35:46 AM / by BIS Research posted in Satellite Market Analysis, Aerospace defense, Global Nano Satellite Market Report, Global Nano Satellite Market, Nano Satellite Market, Nano Satellite Market Research, Satellite Market, Small Satellite Market, Small Satellite Market Forecast

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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.

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