Though above two markets can exist independently, but the playing fields are the same. For example, there are applications in communication, earth observation, remote sensing, biological experiments, scientific research, academic training, space science and intelligence among various others. Among all applications of Nano and microsatellites, earth observations and remote sensing is expected to account for highest market share by 2019.
Few high growth markets are:-
1. Software and data processing: Software packages as well as data processing suites that are required for accepting and extracting actionable information from the raw satellite data at the ground station
2. Nano satellites: Satellites in the range of 1kg to 10kgs
3. Earth observation and remote sensing: Disaster monitoring application such as cyclones, storms, floods, fires, volcanic activities, earthquakes, landslides, oil slicks, environmental pollution, industrial and/or power plant disaster among various others
4. Commercial: Nano and Microsatellites built and used for commercial purposes
One challenge that may hamper the expected double digit growth of this market is raising capital by startups and small sized companies as every machine, every orbiting device, cost thousands of dollars; every major technology investment has been a bet-the-company adventure. Thus finding the right area along with economically feasible and profitable area holds the key to success in this field. Inability to obtain financing could possibly delay or cancel satellite programs. According to survey reports about 60 percent of U.S. commercial satellites have been financed by U.S. based Ex-Im Bank and are planning to enhance its support for U.S. industry in anticipation of its aggressive competition, in funds provided for satellite exports worldwide, from its European counterpart, Coface. However, uncertainty in global financial markets creates mixed results for funding in satellite services sector business. Debt markets are still strong while traditional investors remain risk averse in perspective to markets for satellite financing.
There are various assumptions also that have been taken into consideration for market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological and economic factors. For instance, exchange rates, one of the economic factors, are expected to have moderate rating of impact on this market. Therefore, dollar fluctuations are expected to not seriously affect the forecasts in the emerging APAC regions.
The report will help the market leaders/new entrants in this market in the following ways
1. This report segments the market into solutions and applications covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across the different end users and regions.
2. This report will help them better understand the competitor and gain more insights to better position their business. There is a separate section on competitive landscape, including competitor ecosystem and mergers and acquisition. Besides, there are company profiles of 10 players in this market. In this section, market internals are provided that can put them ahead of the competitors.
3. The report helps them understand the overall growth of the market. The report provides information on key market drivers, restraints, challenges, and opportunities.
There is an ongoing tussle among the eminent players such as Raytheon, Northrop Grumman, Lockheed Martin, Ruag, Sierra Nevada corp and Surrey satellite technologies in the nano and microsatellite market.
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