According to the UnivDatos, growing demand for high-end 3D printing with increased efficiency will drive the growth scenario of Nano & Microsatellites and as per their Global Nano & Microsatellite Market report, the global market was valued at USD 2,906.21 million in 2023, growing at a CAGR of 20.11% during the forecast period from 2024 - 2032 to reach USD million by 2032.  

Nano & microsatellites are smaller satellites orbiting around the earth with an aim to deliver earth observation, satellite communication, navigation, etc. These satellites are of smaller size as nanosatellites ranging between 1 to 10 kg and microsatellites ranging between 10 kg to 100 kg. These satellites are highly cost-effective for limited time-period operations such as earth observation, telecommunications, scientific research, and technology demonstration.

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Rising Trend of New Propulsion Systems:

The usage and development of new types of propulsion systems in satellites is one of the emerging trends. These propulsion systems include electric propulsion, green propellant, water-based propellant, etc. These new types of propulsion systems offer advantages such as higher efficiency and performance, miniaturization of existing propulsion systems leading to a reduction in weight, significantly reducing the environmental impact, and increased mission capability. Many of the satellite manufacturers have aligned their efforts towards integrating these new-age technologies in their existing nano and microsatellite offerings. For instance, Enpulsion GmbH, an Austrian space technology provider company, started offering electric propulsion system-based micro and nano satellites under the name of EXPULSION NANO propulsion systems.

Considering the rising demand for efficient propulsion systems for nano and microsatellites across the globe, the demand for nano & microsatellites in this particular category is anticipated to grow rapidly, subsequently improving its market in the coming years.

Rising Demand for Satellite-Based Communication Services:

The demand for nano and microsatellites is further anticipated to be supported by a focus on satellite-based communication services. These satellites are launched by government and private organizations to establish/provide broadband communication in targeted areas. These satellites are of both commercial and military applications used by various entities for a limited timeframe. For instance, in 2023, Satellite Technology and Research Center (STAR) Singapore announced the launching of its Luminite-4 microsatellite from Satish Dhawan Space Center India. The satellite would offer a satellite-based high-performance VHF Data Exchange System (VDES), which will considerably improve maritime communications and traffic management and analytics.

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This phenomenon has led many countries across the globe to adopt nano and microsatellites as a viable option for communication and earth observation services. As the operational and launch cost of nano and microsatellites is on the lower side, the adoption among the smaller organizations is easier, which would be one of the crucial factors attributing to its market expansion in the forthcoming years. These updates, along with technological updates, would be further conducive to the adoption of Nano & Microsatellites in the coming period, i.e., 2024-2032.

Conclusion:

The Global Nano & Microsatellite market is experiencing a transformative phase driven by technological advancements, sustainability space operations, digitalization, market dynamics, and implementation of government policies. Stakeholders across the industry are embracing these trends to enhance operational efficiency, integrating communication systems, power-efficient systems, etc. As miniaturization continues to play a strategic role in improving satellite construction, staying abreast of these trends and embracing innovation will be crucial for the Global Nano & Microsatellite market.

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