The global CubeSat market is projected to grow from USD 152 million in 2018 to USD 375 million by 2023, at a CAGR of 19.87% from 2018 to 2023. Exhaustive secondary research was undertaken to collect information on the CubeSat market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research In the secondary research process, various secondary sources, such as Hoovers, Bloomberg, BusinessWeek, and Space Magazines were referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, certified publications, articles by recognized authors, CubeSat databases, and Nanosatellite databases.
Primary Research The CubeSat market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by various end users, such as government & military organizations, commercial organizations, and science & technology and education organizations. The supply side is characterized by advancements in CubeSat technology, development of CubeSats, and software development. The following is the breakdown of primary respondents interviewed to obtain qualitative and quantitative information about the CubeSat market.
Data Triangulation After arriving at the overall market size using the market size estimation processes explained above the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides, in the CubeSat industry.
Report Objectives
To define, describe, and forecast the size of the CubeSat market based on size, application, end user, subsystem, and region
To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the CubeSat market
To forecast the CubeSat market size of segments based on 4 regions, namely, North America, Europe, Asia Pacific, and the Rest of the World, along with major countries in each of these regions
To strategically analyze micromarkets1 with respect to individual technological trends, prospects, and their contribution to the overall market
To strategically profile key market players and comprehensively analyze their market share and core competencies2
To provide a detailed competitive landscape of the CubeSat market, along with an analysis of business and corporate strategies such as joint ventures, mergers, and new product developments
To identify detailed financial positions, key products, unique selling points, and key developments of leading companies in the CubeSat market
Note: 1. Micro markets are defined as further segments and subsegments of the CubeSat market included in the report 2. Core competencies of companies have been captured in terms of their key developments, SWOT analysis, and key strategies adopted by key players to sustain their position in the market
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