From GlobeNewswire: 2024-04-10 15:00:00

The Global Wooden Satellite Market is projected to hold a significant share by 2033, with a CAGR of 7.3%. A plywood satellite equipped with sensors and advanced technology became the first wooden satellite in space, aiming to test wood’s durability in space conditions. The wood satellite is set to be launched in 2024 on a US rocket.

The mini satellite segment dominates the market, with mini satellites having shorter development cycles and lower launch costs. The military & defense segment is witnessing significant growth, with applications including military surveillance and disaster management. North America leads the market, while Asia Pacific is expected to grow the fastest.

NASA and JAXA plan to launch the LignoSat probe, the world’s first wooden satellite, in February 2024. The study forecasts revenue at global, regional, and country levels from 2020 to 2033, segmented based on type and end user. Major market players include Cobham Limited, SES S.A., Intelsat, Viasat, Inc., and others.



Read more at GlobeNewswire: Global Wooden Satellite Market Size is Expected to Hold a