Published On : 12 Dec 2018
Nanosatellites and microsatellites are smaller versions of satellites. While the nanosatellites weigh between 1 and 10 kg, the microsatellites weigh between 10 and 100 kg. These satellites are just perfectly suited to the need of present times by dint of being both compact and cheap. They are mainly being leveraged to exploit the commercial possibilities of space-age technologies. The most prominent of them is communication.
Nanosatellites See Swift Sales Owing to Cheaper Cost
There are numerous advantages of nanosatellites driving the global nanosatellites market. Foremost among them is the fact that they cost less to produce. Unlike the capital guzzling large satellites, the nanosatellites can be produced in much less time. Besides, their smaller size means they can be easily placed on the launch vehicles meant for larger satellites. Another advantage is that nanosatellites need much less thrust and hence can be launched collectively. The larger ones, on the other hand, have to be launched individually. Owing to the aforementioned benefits and rising applications, the global nanosatellites market is rising at a healthy double digit CAGR. Going forward, it is expected to maintain the pace.
Presence of Prominent Space Aviation Companies in North America Makes it Market Leader
North America is a key region in the global nanosatellites market. This is because of the availability of an advanced technological framework in the U.S. and Canada. This has led to the development of various space aviation companies, namely Elon Musk’s SpaceX and Spacecraft Industries. These companies have become highly successful within a short span of time and have even outshone the large-scale national space programs.
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In the near term, India is expected to play a prominent role in the global nanosatellites market too. The Indian Space Research Organization (ISRO), for instance, created a record by launching 20 nanosatellites weighing around 1.3 tons in a single mission. ISRO followed it up with the launch of 8 satellites having a combined weight of 675 kg. Those were put into orbits by a single launch vehicle. Such feats have made Asia Pacific a promising region in the global nanosatellites market.
Collision Resulting in Debris in Space Proves Major Challenge for Market
In spite of looking so promising, the global nanosatellites market has to contend with a few challenges. One of them is the risk of collisions in space which can produce space debris. Nanosatellites and microsatellites are often launched together which increases the probability of a chain reaction if even if a single collision occurs.
Such concerns however have done little to reduce the number of small satellites being launched into the space. Their number is likely to increase in the next couple of years due to their need for improving communications. The rising popularity of satellite imaging is expected to ensure steady growth of the global market in the coming years.
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