Canada Nanosatellite And Microsatellite Market Size & Outlook
Canada nanosatellite and microsatellite market, 2017-2030 (US$M)
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Canada nanosatellite and microsatellite market highlights
- The Canada nanosatellite and microsatellite market generated a revenue of USD 89.2 million in 2023 and is expected to reach USD 393.9 million by 2030.
- The Canada market is expected to grow at a CAGR of 23.6% from 2024 to 2030.
- In terms of segment, microsatellites was the largest revenue generating mass in 2023.
- Microsatellites is the most lucrative mass segment registering the fastest growth during the forecast period.
Nanosatellite and microsatellite market data book summary
| Market revenue in 2023 | USD 89.2 million |
| Market revenue in 2030 | USD 393.9 million |
| Growth rate | 23.6% (CAGR from 2023 to 2030) |
| Largest segment | Microsatellites |
| Fastest growing segment | Microsatellites |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Nanosatellites, Microsatellites |
| Key market players worldwide | Sierra Nevada Brewing, Spire Global Inc Ordinary Shares - Class A, Boeing Co, Terran Orbital Corp, GomSpace, Vector Launch, Dauria Aerospace, Innovative Solutions in Space B.V., AAC SpaceQuest, Surrey Satellite Technology Ltd. |
Other key industry trends
- In terms of revenue, Canada accounted for 2.8% of the global nanosatellite and microsatellite market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. nanosatellite and microsatellite market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 393.9 million by 2030.
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Nanosatellite And Microsatellite Market Scope
Nanosatellite And Microsatellite Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada nanosatellite and microsatellite market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to nanosatellite and microsatellite market will help companies and investors design strategic landscapes.
Microsatellites was the largest segment with a revenue share of 78.14% in 2023. Horizon Databook has segmented the Canada nanosatellite and microsatellite market based on nanosatellites, microsatellites covering the revenue growth of each sub-segment from 2017 to 2030.
The Canadian Space Agency has given the opportunity to university students to participate in the Canadian CubeSat Project (CCP) in order to boost the development of small satellites. Through this initiative, the winning teams are offered unique opportunities to design and build their miniature satellite.
For instance, in May 2018, the engineering students from Memorial University received a grant to build a space satellite. Moreover, this project is expected to be launched and deployed from the International Space Station (ISS) from 2020 to 2021. Around 37 universities from Australia, Europe, and the U.S. have participated in the Canadian CubeSat Project (CCP).
Such initiatives and competitions led by local government and space agencies have increased the interest of university students towards the development of new small satellites technology, thereby boosting the industry growth.
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Target buyers of Canada nanosatellite and microsatellite market databook
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Our clientele includes a mix of nanosatellite and microsatellite market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada nanosatellite and microsatellite market , including forecasts for subscribers. This country databook contains high-level insights into Canada nanosatellite and microsatellite market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Canada nanosatellite and microsatellite market size, by mass, 2017-2030 (US$M)
Canada Nanosatellite And Microsatellite Market Outlook Share, 2023 & 2030 (US$M)
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