Lucintel's latest market report analyzed that nanosatellite and microsatellite provides attractive opportunities in the government, civil, commercial, defense, energy & infrastructure, and maritime & transportation markets. The nanosatellite and microsatellite market is expected to reach $XX billion by 2028 with a CAGR of 19% to 21%. In this market, nanosatellite is the largest segment by type, whereas commercial is largest by end use industry.
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Based on type, the nanosatellite and microsatellite market is segmented into nanosatellite and microsatellite. The nanosatellite segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to rising deployment for earth observation missions.
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The Nanosatellite and Microsatellite Market is marked by the presence of several big and small players. Some of the prominent players offering nanosatellite and microsatellite include GomSpace, Lockheed Martin, L3Harris, Sierra Nevada, AAC Clyde Space, Planet Labs, Surrey Satellite Technology, Northrop Grumman, OHB SE, Tyvak, Raytheon Intelligence and Space, Pumpkin Space Systems, Beyond Gravity, and Millennium Space Systems.
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