Nanosatellite and Microsatellite Market Size, Share, Growth & Forecast 2029
Nanosatellite and Microsatellite Market was valued at USD 1.9 billion in 2021 and is estimated to hit USD 8.1 billion in 2029 growing at a very high CAGR of 19.8% from 2022-2029. The factors driving growth of the Nanosatellite and Microsatellite Market includes increase in Government’s funding on space exploration programs, growing demand for low-cost broadband services, rising application of nanosatellite and microsatellites in civil engineering, defense & intelligence and transport sectors and improvements in the living standards. Moreover, technological advancements in nanosatellite and microsatellite ecosystem, enhanced capacity of executing complex computing jobs and lightweight features of nanosatellites, rise in the launch of new products and rapid industrialization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, rising population growth rates and growing di...