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Market Dynamics
Advanced space technology is going to be the major growth driver of the global nanosatellite and microsatellite market. National Aeronautics and Space Administration’s CubeSat Launch Initiative (CSLI) has recently launched the inexpensive variants of the nanosatellite and microsatellite. Because of the low cost of production compared to large satellites, many organizations are investing in nanosatellite and microsatellites for commercial use. These are the factors fueling the growth of the global nanosatellite and microsatellite market.
The lack of dedicated launch vehicles for launching mini satellites into space will hamper the global market during the forecast period.
Development of the communication industry along with huge adoption of Internet of Things (IoT) is estimated to facilitate growth opportunities for the global industry in upcoming years. ....

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