The CubeSat
market report provides an analysis of the market from 2018
to 2023. It discusses industry and technology trends currently prevailing in the
market, along with drivers, restraints, challenges, and opportunities in the
market.
The earth observation application segment is expected to grow
at the highest CAGR during the forecast period. There has been an increase in
the rate of investments in the space industry by government and commercial
organizations which has caused an increase in development of CubeSat
constellations for various applications such as science & technology, and
communication & navigation, among others. Planet Labs (US) is a global
leader in manufacturing and launching of 3U satellites for Earth observation.
These satellites are used to take high-resolution pictures of the Earth that
can be used for agriculture monitoring, natural disaster warnings, and rescue
missions.
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The size
segment of the CubeSat Market is expected to grow at the highest CAGR during
the forecast period. 3U CubeSats can be used for high precision and complex
space missions, such as Earth observation, meteorology, remote sensing,
maritime & transportation management, disaster management, military
intelligence, and other academic purposes.
Based on end user, the commercial segment of the CubeSat
market is projected to grow at the highest CAGR during the forecast period. The
growth of the commercial segment can be attributed to the increase in the rate
of investments in the space industry by government and commercial organizations
resulting in an increase in the development of CubeSat constellations for
various applications such as science & technology, and communication &
navigation, among others.