The global CubeSat market is anticipated to grow at a significant CAGR during the forecast period 2024-2031. A CubeSat is a small or a miniaturized satellite with a cubical-shaped structure measuring 10×10×10 cm3-. It is used in a single unit (1U) or a group of sets as 1U, 2U, 3U, 6U, and 12U among others. This CubeSat has a broad spectrum of advantages which, in turn, supplement the space launches owing to its economic cost. This enables the launch of space missions for low-earth orbit easier for commercial companies, educational institutes, and non-profit organizations. A CubeSat offers lucrative opportunities for scientific studies and technological demos to be performed in a relatively low time and cost-efficient manner.
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The efficient operational capacity and relatively small size and weight than that of a conventional satellite are expected to drive the demand for CubeSat in the global market during the forecast period. The rising applications of CubeSat owing to the technological emergence in communication and electronics, modern satellites including space debris and space mining operations are some major objectives that are further projected to supplement the growth of the global CubeSat market. Additionally, the growing trends for advanced technologies including big data analytics, artificial intelligence (AI), and machine learning solutions in earth observation applications are expected to support the growth of the market during the forecast period.
Moreover, the key players present in the global CubeSat market include Planet Labs, Inc., L3Harris Technologies Inc., GomSpace, and others adopted various strategies that include product launches, mergers & acquisitions, and partnerships and collaborations, among others to remain competitive in the market. For instance, in October 2020, Planet Labs Inc. announced the launch of Flock-4e’1 to Flock-4e’9, a constellation for optical earth observation and other services.
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Market Coverage
- Segment Covered-
- By Size
- By Application
- By End-User
- By Subsystem
- Competitive Landscape- Planet Labs, GomSpace, AAC Clyde Space, Endurosat, Tyvak Nano-Satellite Systems Inc., Space Inventor, CU Aerospace L.L.C., among Others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global CubeSat Market Report Segmentation
By Size
- 25U to 1U
- 1 to 3U
- 3U to 6U
- 6U to 12U
- 12U and Above
By Application
- Earth Observation and Traffic Monitoring
- Science Technology And Education
- Space Observation
- Communication
- Others
By End-User
- Government and Military
- Commercial
- Non-Profit Organizations
By Subsystem
- Payloads
- Structures
- Electrical Power Systems
- Command and Data Handling
- Propulsion Systems
- Attitude Determination & Control Systems
- Others
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