Nanosatellite & Microsatellite Market: Industry Insights, Outlook and Forecast upto 2019 - 2027

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Global Nanosatellite & Microsatellite Market: Overview
The global nanosatellite & microsatellite market is extremely competitive and fragmented in nature, states a latest report by Transparency Market Research (TMR). Some of the prominent players operating in the global market are Clyde Space, Gomspace, Ruag Group, Raytheon, and Sierra Nevada Corporation.
These companies are focusing on investing in research and development activities to introduce innovative products in the marketplace to gain a competitive edge in the global nanosatellite & microsatellite market. Alternatively, these players are entering into mergers and acquisitions to penetrate the global nanosatellite & microsatellite market. New players are entering the global nanosatellite & microsatellite market.
Growing focus on reducing the cost of miniature satellites, rising development of infrastructure, and advancements in satellites are expected to boost the global nanosatellite & microsatellite market during the forecast period. The global nanosatellite & microsatellite market is projected to expand at a CAGR of 12.9% from 2019 to 2027 to reach value of US$ 3.4 Bn by the end of the forecast period.
Geographically, the global nanosatellite & microsatellite market is expected to be dominated by Asia Pacific during the forecast period. Growth of the market in the region can be attributed to rising demand for applications related to earth observation and research and development of network infrastructure in developing countries in Asia Pacific.
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Military Parachutes Market: Key Trends

Growing market propositions of unmanned aerial vehicles has expanded the avenue in the military parachutes market. Growing number of training programs for operational units in the militaries of the developing world, such as the Middle East, has bolstered the prospects of the market. Many training providers look for certifications to keep themselves updated. 
The growing presence of defense-approved aircraft providers in developed countries has boosted opportunities in the military parachutes market. Demand for aircraft ballistic recovery systems. Initially, the militaries in some countries used these for unmanned airborne surveillance platforms. Now such systems have gained tractions for various applications, thus boosting the market.
When deployed on small airplanes, these have been instrumental in saving human lives. However, in some developing regions, defense budgets have dwindled, hitting hard the prospects of military parachutes. Also, stringent government regulations with the use of military budgets in applications excluding defense has also hurt the demand in the military parachutes market. In recent years, the market has seen a new, promising avenue in the use of these in recreation activities. Further, growing deployment of UAVs for intelligence, surveillance, and reconnaissance (ISR) missions has bolstered the growth of the military parachutes market.


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