Nanosatellite And Microsatellite Market Worth $13.89 Billion By 2030
Nanosatellite And Microsatellite Industry Overview The global nanosatellite and microsatellite market size was valued at USD 2.12 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) exceeding 23.3% from 2022 to 2030. The growing demand for miniaturized satellites across multiple verticals is expected to provide an impetus to market growth. For instance, in November 2021, a Japan-based Epsilon rocket launched nine miniature satellites into orbit in the latest endeavor to encourage educational institutions and businesses to participate in space exploration. The launch of small satellites via heavy vehicles has proved to be quite challenging over the recent years, resulting in the increased demand for small launch vehicles. Earlier, small satellites were launched as an additional payload with larger satellites, which increased launch and cost constraints. The growing demand for small launch vehicles that can overcome these cost constraints culminated ...