As per this study the Global CubeSat Market was valued USD 311.08 MN (by revenue) in 2022 and is anticipated to reach USD 1417.16 MN by 2030 with a CAGR of 20.87%.
CubeSat is the miniature satellite designed for space research. It has a size similar to rubik cube (10cm*10cm*10cm) and mass around 1.33 kilograms. CubeSat is inexpensive, quick to build nanosatellite, often used as commercial-off-the-shelf components.
Market Dynamics
Rising adoption of small satellites in space education, earth remote sensing, science and defense sector is driving the market growth. Shorter development cycles, low manufacturing cost, easier containerization and launch are some of the factors boosting the demand for CubeSat. Also, continuous R&D along with soaring need of miniaturization within space sector has further contributed the market growth. Moreover, booming demand for IoT and machine-to-machine satellite network is likely to propel the market growth in the forecast period. However, the lack of launch vehicle may hamper market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of CubeSat.
Market Segmentation
The broad CubeSat market has been sub-grouped into size, application, subsystem and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application
- Earth Observation And Traffic Monitoring
- Science & Technology And Education
- Space Observation
- Communication
- Meteorology
By Subsystem
- Payloads
- Solar Panels & Antenna Systems
- Propulsion Systems
- Attitude Determination And Control Systems
- Electrical Power Systems
- Structures
- Command And Data Handling
- Others
By Size
- 0.25U-1U
- 2U
- 3U
- 6U
- 12U
- Above 12U
By End-User
- Government & Military
- Commercial
- Non-Profit Organization
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for CubeSat in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global CubeSat Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the CubeSat market include Planet Labs (US), Pumpkin Space Systems (US), GomSpace (Germany), Clyde Space (UK), Surrey Satellite Technologies (US), Sierra Nevada Corporation (US), Capella Space (US), Space Systems Loral (US), EnduroSat (Bulgaria), CU Aerospace (US), Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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