Nanosatellite and Microsatellite are typically weighted around 1kg to 10kgs and 11kgs to 100kgs respectively. In last ten years, technological advances in miniaturization of space technology have made microsatellite and nanosatellite, potentially and economically more feasible for extensive usage in government, civil, commercial, and military purposes. The cost effectiveness and the increasing usage of hi-tech space missions have been attracting new entrants in space programs to develop their expertise in space technology.
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Continual reduction in the cost of micro satellites and Nano satellites and growth in investments from Silicon Valley, are the major drivers behind augmented traction of the microsatellite and nanosatellite market. Integration of latest, hi-tech, and commercial-off-the-shelf electronic circuits is increasing capabilities of nanosatellite and microsatellite, boosting the demand of such satellites at a rapid pace. Future space programs by organizations such as NASA, DARPA, NRO, NSF and others universities are anticipated to further fuel the market. Initial investment in this domain is one of the major challenges for this market. Thus, right investment with economically feasible and profitable area plays major role for success in this industry.
Several private and commercial ventures have started investing in space programs to capitalize on the opportunities offered through these low-cost small satellite missions related to remote-sensing, earth-observation, communication, and many others. Commercial sector is anticipated to be the largest contributor for Microsatellite and Nano satellite in near future.
Some of the key players operating in this market include Gomspace, Lockheed Martin Corp., Geooptics Inc, Clyde Space ltd, Raytheon, Northrop Grumman Corp., Ruag, Sierra Nevada Corporation, Planet Labs, and Surrey Satellite Technologies Limited.
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