Global Nanosatellite and Microsatellite Market: May 2021, NanoAvionics, a smallsat bus manufacturer & mission integrator, signed an agreement with the OQ Technology, a multinational IoT company, to integrate, build, and operate a nanosatellite for the 5G IoT operation called Tiger-2
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For example, in May 2021, NanoAvionics, a smallsat bus manufacturer & mission integrator, signed an agreement with the OQ Technology, a multinational IoT company, to integrate, build, and operate a nanosatellite for the 5G IoT operation called Tiger-2. This launch is aimed to provide agile and quick access to the 5G network connection.
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Apart from this, in April 2021, the Norwegian Space Agency, declared the launch of the NorSat-3 maritime tracking microsatellite which is developed by the SFL (Space Flight Laboratory) based in Toronto. The NorSat-3 is equipped with two instrumental payloads. The primary device is AIS (Automatic Identification System) that receives messages from the civilian marine vessels and gets information on marine traffic and ship location. Such developments are estimated to fuel the global market growth in the upcoming years. Furthermore, the end-user segment of the nanosatellite and microsatellite market is divided into government, commercial, civil, and defense & security.
Key Market Players
The significant participants of the global nanosatellite and microsatellite market are AST & Science LLC, Space Quest Ltd, Gom Space, L3Harris Technologies, AAC Clyde Space, Lockheed Martin Corp., Sierra Nevada Corp., Tyvak Nano-Satellite Systems, Planet Labs Inc., and Innovative Solutions In Space. These market players are focusing on devising unique strategies for improving SWOT scrutiny, new product designs, mergers & acquisitions of promising companies, building robust portfolios, business expansions, massive regional reach, and research & development projects.
Report Highlights
A latest report by Research Dive states that the global nanosatellite and microsatellite market is anticipated to grow tremendously during 2020-2027 estimated timeframe. Moreover, the market study is put forth by researchers by examining all the vital features that are impacting the future and the present upsurge of the market. Moreover, the report mentions well-established participants of the market that are opting for exclusive strategies such as creating product portfolios, tie-ups & collaborations, product announcements & advertisements, financing in research & development activities, and mergers & acquisitions. The report also highlights the Covid-19 impact on the market and offers a complete picture of the post-Covid-19 scenario.
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