“CubeSat market to demonstrate promising growth over the forecast period”, says Visiongain
23 October 2019
Visiongain has launched a new Aerospace report CubeSat Market Report 2019-2029 Forecasts by Application (Earth Observation & Traffic Monitoring, Communication, Science & Technology, Education), end-user (Government & Military, Commercial, Non-profit, Organization), and Size (Up to 2.0Kg , 2.0 to 4.0 Kg, 4.0 to 6.0 Kg, 6.0 to 12.0 Kg, Above 12 Kg) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global CubeSat market is expected to grow at a lucrative rate during the forecast period. The rise in new business opportunities, increasing demand for satellite-based services, and emergence of developing countries as potential customers of satellite technology has encouraged established players and new space entrepreneurs to capitalise on the unique abilities of CubeSat in bringing to market new businesses or government services. The CubeSat market has also been witnessing various collaborations among different companies which are planning to bring this technology to market. The Asian and Middle-Eastern regions are expected to witness significant demand for CubeSat.
Rise in investment activity in terms of multiple rounds of funding by venture capital firms has also contributed to the growth of this market. Various companies have announced plans to launch constellations of CubeSat whose capabilities are expected to be higher than the capabilities of a single or large satellite. These proposed smallsat constellations are also expected to deliver profit margins which outpace those earned from government contracts. Market players are also looking to customise CubeSat for emerging nations who desire challenging performance targets at particular price points which are well below those associated with that of larger satellite platforms. They are also focusing toward cross-market partnerships that enable higher performance CubeSat at lower acquisition costs. Miniaturisation of electronics coupled with several technological advances are expected to improve the performance of satellite platforms, which are likely to continue to shrink in physical size and mass. CubeSat usually require innovative propulsion, attitude control, communication and computation systems. This is expected to prove as a major challenge for the growth of CubeSat market
Some of the players operating in the market include Gomspace, Nanoavionics
Clyde Space, Surrey Satellite Technology, Adcole Nono-Satellite Systems, CU Aerospace, Busek Co., Space Systems Loral (SSL), Endurosat, Pumpkin Space Systems, Planet Labs, Harris Corporation, and OHB SE. These major companies are increasingly focusing on research and development activities so as to gain competitive advantage. The players are also taking various strategic initiatives such as mergers, acquisitions, and partnerships so as to increase their presence in the global market.
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