CubeSat Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation 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
The global CubeSat market is estimated to register a CAGR of nearly 19.83% during the forecast period from 2018 to 2023.
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CubeSats are miniature satellites that weigh less than 1.33 kgs per unit and assist in various activities, such as space research and earth observation. These satellites offer various benefits to users such as easy construction of satellites, cost-effectiveness, and lightweight. Such benefits offered by CubeSats are fueling the market growth.
Factors such as increased adoption of CubeSats for various other applications, such as traffic monitoring and commercial industries such as oil & gas and agriculture, are expected to bolster the market growth. Additionally, these satellites are less expensive and lightweight as compared to conventional satellites, which make them favorable to scientists. Therefore, the growth of the CubeSat market is expected to propel throughout the forecast period.
- Satellite manufacturers
- Space organizations
- Government authorities
- Defense companies
- Research Institutes
- Regulatory bodies
Market Segmentation and Regional Analysis
Based on size, the 3U (4.0 kg to 6.0 kg) segment is anticipated to witness the highest CAGR over the forecast period. High adoption rate of these systems for various applications, such as meteorology, disaster management, remote sensing, and military intelligence are expected to drive the market.
On the basis of subsystem, the payloads segment is anticipated to lead and grow at the highest CAGR over the forecast period. Payloads provide orbital maneuvering capability that enables scientists in experiencing enhanced space observation. Based on application, earth observation & traffic monitoring segment is anticipated to grow at the highest CAGR over the forecast period. Growing demand for earth imaging and real-time data are bolstering market growth. On the basis of the end user, the commercial segment is anticipated to grow at the highest CAGR over the forecast period. Increased adoption CubeSats for commercial purposes such as crop monitoring, fleet management, and logistics tracking are fueling the market growth.
North America is estimated to account for the largest share during the review period. Presence of prominent players such as Lockheed Martin Corporation and Sierra Nevada Corporation are expected to bolster the market growth. Furthermore, stringent government regulations pertaining to manufacturing and launching of CubeSats are boosting the market growth in the region.
- Lockheed Martin Corporation (US)
- Sierra Nevada Corporation (US)
- The Boeing Company (US)
- GomSpace (Denmark)
- Harris Corporation (US)
- OHB SE (Germany)
- Capella Space (US)
- Clyde Space Ltd (UK)
- Airbus S.A.S (The Netherlands)
- Tyvak Nano-Satellite Systems Inc. (US)
- Busek Co. Inc. (US)
- CU Aerospace L.L.C. (US)
- MAXAR TECHNOLOGIES (US)
- EnduroSat (Bulgaria)
- Planet Labs Inc. (US)
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The market numbers and forecast derived were the outcomes of our disciplined research methodology that includes secondary research, primary interviews, followed by data triangulation and validation from our in-house data repository and statistical modeling tools.
In this process, both the demand side and supply side parties were involved in extracting genuine facts and insights about the market forecast, production, trend, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain have been approached to obtain key information.
In this process, the data collection was done through various secondary sources, which included annual reports, SEC filings, journals, government association, aerospace & defense magazines, white papers, corporate presentations, company websites, some paid databases, and others.
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
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
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
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