Research firm MarketsandMarkets forecasts the nanosatellite and microsatellite market size is expected to grow from $2.8 billion in 2022 to $6.7 billion by 2027, at a compound annual growth rate (CAGR) of 19.3% during the forecast period. The hardware segment – payload, structure, telecommunication, onboard computer, power system, attitude control system, and propulsion system – is to be almost 30% of the total market.
Nanosatellites, 10cm3 in size with a mass between 1kg and 10kg including fuel, are expected to have the highest market share.
Industrial digitization and increasing interest in Earth observation satellites are driving demand for nanosatellite and microsatellites in North America.
The report identifies key global vendors in the nanosatellite and microsatellite market.
Solar Atmospheres acquires Vac-Met
Vac-Met Inc. has been acquired by Solar Atmospheres Inc. With locations in Warren and Fraser, Michigan, Vac-Met has built a heat-treating presence in the Midwest throughout the past 41 years. The acquisition increases the combined company’s commercial vacuum heat treating and brazing facilities to five plants across the U.S. Joseph White will continue to head the day-to-day operations of Vac-Met’s nine vacuum furnaces, while leading the team he has built. White will report to Robert Hill, president of Solar Atmospheres of Western PA.
Rolls-Royce appointed Tufan Erginbilgic CEO and an executive director of Rolls-Royce Holdings plc. Erginbilgic will assume his role Jan. 1, 2023, succeeding Warren East, who is stepping down at the end of this year.
Erginbilgic, who has a BS in engineering, an MBA, and MA in Economics, built his career in international business including more than 20 years with BP, with five years on its executive team. He’s held non-executive directorships in heavy industry and manufacturing companies, including at aerospace technology group GKN. He’s currently a partner at Global Infrastructure Partners (GIP), a private equity firm, and a non-executive director of multinational transport vehicle manufacturer Iveco Group NV; energy, healthcare, and technology group DCC plc; and energy company Türkiye Petrol Rafinerileri A.S (Tupras).
Chicago, Illinois-based Mesirow Investment Banking hired Steve Simon as vice president. He’ll focus on serving clients within the aerospace and defense, commercial outer space, and industrial sectors.
Simon, previously an associate at Lincoln Int’l and at PwC, earned his JD and MBA from Northwestern University. He also holds a National Association of Rocketry certification for high-powered rocketry.
John Wozniak, P.E. has joined Germantown, Wisconsin-based WAGO as its new product manager for automation digital products. His primary focus will be on human machine interface (HMI), Edge devices, and wireless Ethernet products while developing other automation products. He previously worked as a control systems and industrial communications engineer, and engineering manager.