A recent report by market experts projected that the global nanosatellite and microsatellite market was valued at $2.23 billion in 2020 and is expected to reach $8.69 billion by 2030, registering a CAGR of 14.9%.
The telecommunications industry is poised to experience significant benefits on a global scale, as many experts have predicted robust financial growth for the sector. This remarkable progress is primarily attributable to the emergence of a new and advanced nanosatellite communication system. Technology has become an integral part of the everyday lives of millions of individuals and has profoundly transformed billions of people worldwide. However, it is essential to acknowledge that these achievements have been made possible through the diligent efforts of numerous dedicated engineers and scientists.
Rajat Khare, the visionary founder of Boundary Holding, strongly advocates for producing more affordable satellites within shorter timeframes, thereby reducing costs and shrinking electronic components. These advantages were once exclusively accessible to large corporations and space organizations with substantial financial resources. However, the advent of nanosatellites has democratized these opportunities, making them available to companies of all sizes and forms. Rajat Khare’s forward-thinking approach has paved the way for a more inclusive and accessible space industry, empowering a diverse range of enterprises to harness the benefits of satellite technology.
The standard CubeSat unit, a cube-shaped structure measuring 10x10x10 cm with a mass of 1 and 1.33 kg, is the basis for all CubeSat sizes. This item is referred to as 1U. This modular unit was replicated after the initial few years, and larger nanosatellites are now widespread (1.5U, 2U, 3U, or 6U). New configurations are being created right now.
Boundary Holding’s investment is helping Astrocast build a low-latency, worldwide IoT network that will allow businesses to manage, communicate, and control IoT assets even from the most remote parts of the globe. Along with improving Astrocast’s brand recognition in numerous regions across the world, it will assist the company in expanding its operations across multiple industries, including maritime, mining, and agriculture.
A constellation of nanosatellites offers support, redundancy, and granularity for its services. Every 2-4 years, each satellite in a constellation is replaced, ensuring that the operator always has an optimized, higher service that benefits from continuous technological advancements. Thus, expiration or remaining useful is no longer applicable in a nanosatellite communication system.
Currently, the Nanosatellite communication system is the backbone of communication worldwide. One significant advantage of the nanosatellite communication system is its potential to revolutionize connectivity in remote areas and underserved regions. Nanosatellites, with their compact size and cost-effective deployment, offer a viable solution to bridge this digital divide. By establishing a network of nanosatellites, connectivity can be extended to even the most remote corners of the globe, empowering communities with improved communication capabilities and access to educational resources, healthcare services, and economic opportunities. The numerous IoT gadgets are now more productive and efficient because of the ongoing information exchange. This crucial exchange of information has helped build better software for various purposes. Every person on the earth now has access to affordable wearable technology, which was earlier confined to aircraft or ships in the air or the sea. Rajat Khare Astrocast tie-up has combined the best AI and nanosatellite communication systems on one platform.
The role of Astrocast has been phenomenal in this field. They believe that nanosatellite applications have immense potential. If we talk about the future, Space exploration and communication are becoming challenging for many. Numerous nanosatellite companies have now started to work in this field. Companies like Clyde Space Limited, Orora Tech, and Orbital Astronautics are aggressively working on building better nanosatellite communication systems. However, the rush to develop a critical system lies ahead because many hardware devices are now turning to IoT Solutions.
The competition in the market will bring out the best of technology and the best economic pricing in terms of services for the consumers. If we talk about nanosatellite applications, we must understand that they have changed a piece of standard equipment into IoT Devices. It connects people and technology.