Global CubeSat Market Anticipated to Grow at a CAGR of 33.4% From 2018 to 2022, Reports BIS Research

FREMONT, California, June 25, 2018 /PRNewswire/ --

According to a market intelligence report by BIS Research titled, "Global CubeSat Market, Analysis & Forecast, 2018-2022", the global market is expected to reach $566.2 million by 2022, growing at a CAGR of 33.4% during the period, 2016 - 2022. As compared to the conventional heavy satellites, CubeSats typically have a shorter development cycle and team, and consequently have reduced cost, both for the manufacturing and for the launch of the satellite. Furthermore, CubeSats have the added advantage of containerization and standardized form-factor, in effect enabling easier launch vehicle integration and mass production, which further lowers the cost of the space mission. The interest in CubeSats has increased significantly during the last few years. Therefore, several nations worldwide are keen to launch their CubeSat and are collaborating with space-faring agencies.

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Browse 16 Market Data Tables and 144 Figures spread through 234 Pages and in-depth TOC on "Global CubeSat Market"

With the increase in the capabilities of CubeSats, the satellite industry is developing their increasing strategic utility, thus motivating various stakeholders including government, space agencies, and private companies to develop dedicated and next-generation CubeSat constellations. Over the course of the next ten years, more than 3,600 small satellites are expected to be launched, which could reach 10,000 if even a fraction of the scheduled constellations will be deployed. The space industry is undergoing a transformational evolution, thus making space industry accessible and affordable for small businesses and everyday individuals as the potential participants. The benefits of utilizing CubeSats over the conventional ones are also responsible for the emergence of multiple space industry segments.

The CubeSat market has witnessed a high growth rate owing to the extensive demand of small satellite constellations, technological expansion in electronic components for CubeSats, immediate need for satellite miniaturization in the space industry, and an increase in the number of space missions for academic research. Recent innovations in satellite equipment and services enable the CubeSat technology to reach a broader segment of consumers in the industry. However, the lack of affordability in launch services for CubeSats and regulation of the increasing amount of space debris act as the significant challenges for the growth of the market. Companies are developing emerging technologies such as 3D printed electronic components, onboard internet system, and electronic propulsion system, among others, which are expected to increase the competition in the near future as well as facilitate the utilization of CubeSats as a primary satellite for the space mission.

Increasing demand for Internet of Things (IoT) and Machine-to-Machine (M2M) small satellite networks and disaster management through satellite remote sensing are the significant factors which are expected to create lucrative opportunities for the market in the next five years. The market is filled with advancements in CubeSats for telecommunication. Current developments in the satellite-driven IoT and M2M connectivity networks serve as a critical enabler to transform the IoT connectivity across industries and geographical borders. The satellite industry is witnessing rapid growth in the number of CubeSats for large satellite constellations consisting of hundreds of satellites for applications like earth observation and telecommunications.

According to Ayushi Bajpai, analyst at BIS Research, "Based on low power consumption, low mass, and low cost of architectural requirements, 6U CubeSats have been assuring fast and affordable access to space. 6U CubeSat is expected to witness the highest growth rate of 56.5% in the market, consuming 7.9% and 5.9% of the overall market share in 2017 and 2022 respectively."

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The report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by size, including 1U, 2U, 3U, 6U, and other sizes; subsystems, including payload, structure, telecommunication, onboard computer, power system, attitude control system, propulsion system, and thermal control system; and end users, namely: academic, commercial (agriculture, IT & telecommunication, oil & gas, and mining), government, defense, and non-profit organizations. The report also includes a comprehensive section on the geographical analysis including North America, Europe, Asia-Pacific, and Rest of the World.

This report is a meticulous compilation of research on more than 100 players in the space industry and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles around 10 companies, which are leading CubeSat producers, including Clyde Space Ltd., EnduroSat AD, GomSpace Sweden AB, Group of Astrodynamics for the Use of Space Systems (G.A.U.S.S.) Srl, Harris Corporation, Innovative Solutions in Space BV (ISIS), Interorbital Systems Corporation, NanoAvionika, LLC, Space Systems/Loral, LLC, and Tyvak Nano-Satellite Systems, Inc., among others. The report also focuses on the emerging start-ups in the CubeSat market and provides a snapshot of the strategic developments done by them.

Key questions answered in the report: 

•    What was the size, in terms of revenue and volume, of the CubeSat market in 2016 and 2017, and what will be the growth rate during the period, 2016-2022?

•    What is the market size of different sizes of CubeSats, including 1U, 2U, 3U, 6U, and other sizes? Furthermore, what is the market size of different end users for every size of CubeSat?

•    What was the market value of different subsystems of CubeSats in 2016 and 2017? What are the technological advancements and opportunities for the stakeholders for different subsystems?

•    What is the is the market analysis of end users of CubeSat such as academic, government, defense, non-profit organizations, and commercial, including IT & telecommunication, agriculture, oil & gas, and mining?

•    What is the market analysis of end users of CubeSat, on the basis of different applications, including communication, Intelligence, Surveillance, & Reconnaissance (ISR), earth observation & remote sensing, academic research & space exploration, navigation, and technology demonstration?

•    What are the market sizes of CubeSats on the basis of different geographical regions and the respective leading nations?

•    What are the key trends and opportunities in the CubeSat market, across different regions and respective countries?

•    What are the major driving forces that are expected to increase the demand of CubeSats during the forecast period?

•    What are the major challenges inhibiting the growth of the global CubeSat market?

•    What kinds of new strategies are being adopted by the existing market players to make a mark in the CubeSat industry?

•    What is the competitive strength of the key players in the CubeSat market by analyzing through market share analysis and competitive benchmarking model?

•    The report also provides industry insights through patent analysis, value chain model, and manufacturing cost analysis

•    Additionally, detailed analysis and profiling of key market players have been covered in the report. Furthermore, company profile section covers the business financials, company snapshots, key products & services, major developments, SWOT analysis and future programs (if any) of 10 leading players in the market.

Related Reports: 

Global Small Satellites Market - Analysis & Forecast, 2016-2021

Global Nano Satellite Market - Analysis & Forecast, 2016-2021

Global Small Launch Vehicle Market - Analysis and Forecast, 2017-2026

Global Fixed-Wing VTOL Aircraft Market - Analysis and Forecast 2017-2026

About BIS Research:  

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

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