PL - Cubesat Market Size is Expected to Reach $857.39 Million by 2030 Growing at a CAGR of 15.1%: Straits Research | Benzinga
New York, United States, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Miniature satellites known as CubeSats are much simpler to create, develop, and launch than traditional satellites. By combining different units, CubeSats can be created as single units (1U), double units (2U), or four units (4U), among other configurations. "The global CubeSat market size was valued at USD 210.1 million in 2021. It is expected to reach USD 857.39 million by 2030, growing at a CAGR of 15.1% during the forecast period (2022–2030)," stated by the Research Manager at Straits Research P. Ltd.
Download Sample Report PDF @ https://straitsresearch.com/report/cubesat-market/request-sample
Key Drivers
CubeSats are produced by standard measurements, in units or U that are 10 by 10 cms. In most cases, each unit weighs less than 1.33 kilograms and is constructed in the shape of a 1U, 2U, 3U, 6U, 12U, or other size configuration. This aids in overcoming the barriers of studying space, and the popularity of CubeSats have skyrocketed since their introduction. In addition, a CubeSat can be manufactured and placed in orbit depending on the specifications, contributing a negligible amount to the overall costs compared to the costs associated with conventional satellite missions. CubeSat constellations, which are in space and provide access to images from all over the world, can provide access to real-time information regarding various assets located anywhere on earth.
Growth Opportunities
Globally, the demand for satellite-based services, such as surveillance for military, environmental, or public safety applications, navigation and positioning, vehicle tracking, and telecommunication, is rising rapidly. In addition, the demand for data derived from Earth observations (EO) for various applications is increasing. In environmental and scientific ...