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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