Rapid and Standardized Cost Estimation Model for Nanosatellites

Abstract

The development and accessibility of the Nanosatellites have increased rapidly in the past years. Their various areas of use allow them to be applicable for different missions. Their relatively lower cost also enables them to be used by various entities however there is a need for a universal approach which is fast and standardized to estimate the cost for the Nanosatellites, mainly CubeSats due to their unique features. The paper provides information regarding the cost estimation process in general as well as discusses the history and outlook of CubeSats. By analyzing the currently available cost estimation models, the paper outlines a standardized approach that is easy to use to generate rapid results. The paper conceptualizes the approach by dividing the cost estimation model to different sections and different levels of data which are discussed in detail. The paper then introduces how to evaluate and present the output as well as provides groundwork for future studies.