CubeSat Market Forecast 2019-2023: Global Industry Analysis By Size, Share, Trends, Segments, Growth Prospects, Regional Analysis and Key Companies Overview

CubeSat Market Forecast 2019-2023: Global Industry Analysis By Size, Share, Trends, Segments, Growth Prospects, Regional Analysis and Key Companies Overview

“CubeSat Market”
Global CubeSat Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Risk and Opportunity Assessment, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.

CubeSat Market Research Report: Information by Size (O.25u-1U, 2U), Subsystem (Payloads, Structures), Application (Earth Observation & Traffic Monitoring, Communication), End User (Commercial, Non-Profit Organization), and Region — Global Forecast till 2023

Market Research Future (MRFR) expects the global CubeSat market to achieve a growth rate of close to 19.83% during the forecast period (2018-2023).

Some of the significant vendors in the worldwide CubeSat market include Planet Labs Inc. (US), The Boeing Company (US), GomSpace (Denmark), Harris Corporation (US), Capella Space (US), Clyde Space Ltd (UK), Busek Co. Inc.  (US), Lockheed Martin Corporation (US), Sierra Nevada Corporation (US), CU Aerospace, L.L.C. (US), MAXAR TECHNOLOGIES (US), EnduroSat (Bulgaria), Tyvak Nano-Satellite Systems, Inc. (US), Airbus S.A.S (The Netherlands), OHB SE (Germany), among others.

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Top Drivers and Key Barriers

The CubeSat market is demonstrating strong growth on account of the extensive demand for small satellite constellations and technological advancements in electronic components for CubeSats. The market also gets a major boost from the increasing need for satellite miniaturization within the space industry as well as the rising number of space missions for academic research. Surge in innovations in satellite equipment and services allow CubeSat technology to reach a wide range of consumers in the industry.

On the downside, lack of affordability in launch services for CubeSats challenges the market growth. On the bright side, a number of companies are in the process of developing the latest technologies like onboard internet systems, electronic propulsion system, and 3D printed electronic components, that can facilitate the demand for CubeSats as a primary satellite for space missions. Mounting demand for Machine-to-Machine (M2M) and Internet of Things (IoT) for small satellite networks as well as disaster management via satellite remote sensing can also be a significant booster for the market growth in the coming years.

The market is abuzz with developments in CubeSats for telecommunication. Latest advancements in the satellite driven M2M and IoT connectivity networks are helping in transforming the IoT connectivity across verticals as well as geographical borders. The satellite industry is growing at a fast pace, given the rising number of CubeSats for large satellite constellations, which comprises hundreds of satellites that are used for activities like earth observation and telecommunications.

Recent News

October 2019

Virgin Orbit is expected to be the first private company that is soon going to send CubeSats to Mars. It is entering a partnership with SatRevolution as well as several Polish universities to develop a series of small-satellite missions, possibly as early as 2022.

Market Segmentation

Size, sub-systems, and end-user are the primary segments as per which MRFR has studied the worldwide CubeSat market.

Size-based segments in the market are 0.25u-1U (Up to 2.0 Kg), 2U (2.0 Kg to 4.0 Kg), 3U (4.0 Kg to 6.0 Kg), 6U (6.0 Kg to 12.0 Kg), 12U (Above 12.0 Kg), and >12 U. Out of these, 3U (4.0 kg to 6.0 kg) segment is projected to observe the highest growth rate in the years to come. Strong growth in the adoption of these systems for applications like disaster management, meteorology, military intelligence, and remote sensing are poised to benefit the market.

Depending on the subsystem, the market includes EPS (Electrical Power Systems), attitude determination & control systems, C&DH (Command & Data Handling), structures, propulsion systems, payloads, and others. Between these, the payloads segment is expected to dominate the market with the highest CAGR during the appraisal period. Payloads help provide orbital maneuvering capability, which lets scientists experience elevated space observation.

The applications mentioned in the report are space observation, education, communication, meteorology, earth observation & traffic monitoring, science & technology, and others. The earth observation & traffic monitoring segment can obtain the highest growth rate in the forthcoming years, due to the rising demand for earth imaging and real-time data.

Regional Framework

The regions with the highest concentration of the CubeSat market include Europe along with Asia Pacific (APAC), North America and the Rest of the World (RoW).

In 2017, North America was identified as the leading market for CubeSat and is anticipated to attain the highest CAGR during the estimated period. High adoption of CubeSats by government bodies, defense agencies and space organizations seems to be favoring the regional market. For instance, in 2018, the US Coast Guard made extensive use of CubeSats over the Arctic to gather real-time information about the area.

The APAC market is advancing at a fast rate, reports MRFR. The market’s rapid growth rate is in response to the rising use of CubeSats for Earth observation services. Its use in government & military applications also help the markets in China, Japan, and India flourish significantly and can do the same even during the review period.

The Europe market benefits from the ongoing and impending CubeSat missions undertaken by several government initiatives and the technological expansion in electronic components. The regional market is growing as a result of soaring demand for satellite miniaturization in the space sector along with the expanding consumer base for mini satellites and surging demand for the Internet of Things.

Report Key Insights

  • Market Sizing, Forecast, and Analysis: Detailed coverage on market segment and its sub-segments
  • Regional / Country Trend and Forecast: Detailed analysis on North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America, along with key countries in each of the regions
  • Market dynamics intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain & value chain analysis
  • Technology Trend, Regulatory Landscape, and Patent Analysis Outlook
  • Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, strategic developments including JVs, Product Launch, and M&A
  • Regional attractiveness and related growth opportunities

Table of Contents

1. Executive Summary 
1.1. Market Attractiveness Analysis 
1.1.1. Global Cubesat Market, by Size 
1.1.2. Global Cubesat Market, by Subsystem 
1.1.3. Global Cubesat Market, by Application 
1.1.4. Global Cubesat Market, by End User 
1.1.5. Global Cubesat Market, by Region

2. Market Introduction 
2.1. Market Definition 
2.2. Scope of the Study 
2.3. Market Structure 
2.4. Key Buying Criteria 
2.5. Market Factor Indicator Analysis

3. Research Methodology 
3.1. Research Process 
3.2. Primary Research 
3.3. Secondary Research 
3.4. Market Size Estimation 
3.5. Forecast Model 
3.6. List of Assumptions

Continued……..

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List of Tables

Table 1 Global Cubesat Market, by Region, 2018–2023 
Table 2 North America: Cubesat Market, by Country, 2018–2023 
Table 3 Europe: Cubesat Market, by Country, 2018–2023 
Table 4 Asia-pacific: Cubesat Market, by Country, 2018–2023 
Table 5 Rest of the World: Cubesat Market, by Region, 2018–2023 
Table 6 Global Cubesat, Size Market, by Region, 2018–2023 
Table 7 North America: Cubesat, Size Market, by Country, 2018–2023 
Table 8 Europe: Cubesat, Size Market, by Country, 2018–2023

Continued……..

List of Figures

Figure 1 Research Process of Mrfr 
Figure 2 Top-down & Bottom-up Approaches 
Figure 3 Market Dynamics 
Figure 4 Impact Analysis: Market Drivers 
Figure 5 Impact Analysis: Market Restraints 
Figure 6 Porter’s Five Forces Analysis 
Figure 7 Value Chain Analysis

Continued…….

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