CubeSat Market
Report ID: SQMIG45B2072
CubeSat Market Trends
Skyquest Technology's expert advisors have carried out comprehensive research on the cubesat market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.
CubeSat Market Dynamics
Drivers
Growing Demand for Smaller and Lighter Satellites
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The CubeSat Design Specification (CSD) is generally known as the CubeSat standard. It is the document that outlines the characteristics of the nanosatellites class referred to as CubeSats. The primary advantage of CubeSat satellite is that it requires less time to manufacture compared to the traditional satellites. The CubeSat can be produced and placed in orbit based on the specification, which is cost-efficient in comparison with the expenses required for traditional satellite missions. This is because CubeSats are smaller compared to other satellites.
Growing Demand of Satellites in Different Sectors
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The CubeSats can be smaller in size and weight, but this does not reduce the abilities of the satellites. They are increasingly used in various commercial applications such as communication, internet of things, geolocation, logistics, and signal monitoring. The expanding usage of CubeSat has also increased opportunities for using internet of things (IoT) globally. The usage of sensor-driven devices is increasing rapidly, which requires communication and connections, fueling the growth of the CubeSat market. Furthermore, this satellite can be used for managing the process of locating and monitoring assets in areas where there is no land like ships and aircrafts.
Restraints
Reduced Payload Capacity of CubeSat to Restrict Growth
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One of the main constraints regarding space activities performed by CubeSats is their ability to host payloads. The compact nature of the CubeSat also greatly restricts the volume allocated to its propulsion, payload and other subsystems. Higher V (impulse required to perform a maneuver) missions would require an increase in the amount of fuel which in turn restricts the volume set aside for scientific instruments and other payloads that the CubeSat is intended to carry. Due to the internal volume constraints, CubeSats cannot carry essential subsystems that are important in order to perform intricate missions.
Growing Congestion in Low Earth Orbit
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There’s a growing concern about the congestion in the low Earth orbit (LEO) as it leads to a risk of collisions and space debris. It becomes more important with the increasing number of CubeSats being put in orbit to conduct operations in space sustainably and safely. Regulatory barriers such as licensing and spectrum allocation can also be significant constraints to both entry and growth in the markets concerned. Furthermore, given the fastmoving environment, CubeSat makers have to come up with new ideas, which imposes pressure on resources and budgets.
CubeSat Market Report Snapshots
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