Overview and Scope
A low earth orbit satellite is an object that orbits the earth at lower altitudes than geosynchronous satellites. It is normally between 1000 km and 160 km above the earth. They are commonly used for communications, military reconnaissance, spying, and other imaging applications.
Sizing and Forecast
The low earth orbit (leo) satellites market size has grown rapidly in recent years. It will grow from $5.53 billion in 2023 to $6.42 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to emerging markets growth, rise in investments in low earth orbit (leo) satellite infrastructure and increased need for satellite internet in rural areas.
The low earth orbit (leo) satellites market size is expected to see rapid growth in the next few years. It will grow to $11.31 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to the growing investments in the space sector, rising demand for telecommunications and increasing number of satellite launches. Major trends in the forecast period include use of artificial intelligence and machine learning for optimizing mission efficiency and reducing operational costs, launch of advanced low earth orbit satellites to provide global connectivity, use of 3d printing to reduce satellite and subsystem production costs, advancements in payload systems to offer diverse and sophisticated capabilities and strategic collaborations and partnerships among market players.
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Segmentation & Regional Insights
The low earth orbit (leo) satellites market covered in this report is segmented –
1) By Type: Femto, Pico, Nano, Micro, Mini
2) By Sub-System: Payload, Structure, Telecommunication, On-Board Computer, Power System, Attitude Control, Propulsion System
3) By Application: Technology Development, Earth Observation And Remote Sensing, Communication, Space Exploration, Surveillance
4) By End-User: Commercial, Civil, Government, Other End-Users
North America was the largest region in the low earth orbit satellites market in 2023. North America is expected to be the fastest growing region in the forecast period. The regions covered in the low earth orbit (leo) satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing adoption of low earth orbit satellites in various sectors will drive the aerospace market in the forecast period. Low-Earth-Orbit Satellites are one of the most essential enablers of the planet’s protection, safety, and longevity, and they play an important role in earth observation for satellites in the field of agriculture. Earth observation uses data from low-earth-orbit satellites to observe and measure biological, chemical, and physical elements on a global scale. For instance, in January 2022, according to the information assembled by experts at the Union of Concerned Scientists (UCS), the Satellite Database is a listing of more than 4,852 operational satellites currently in orbit around Earth. Most of the Earth’s approximately 2,700 active satellites are already in low earth orbit. Furthermore, in February 2022, Bharti-backed OneWeb announced the successful deployment of 34 satellites by Arianespace from the Guiana Space Centre in Kourou, French Guiana. The latest move by the Low Earth Orbit (LEO) satellite communications company, brings its total in-orbit constellation to 428 satellites.
Key Industry Players
Major companies operating in the low earth orbit (leo) satellites market report are Thales, Northrop Grumman Corporation, Lockheed Martin Corporation, The Boeing Company, Airbus SE (Surrey Satellite Technology Ltd), L3Harris Technologies, Kepler Communications Inc., Blue Canyon Technologies Inc., Blue Origin, SpaceX, One Space Tech, Land Space Technology Corporation Ltd, ExPace Technology Corporation, CASIC, Beijing Commsat Technology Development Co. Ltd, Anabond Limited, INTECH DMLS PVT LTD, Avasarala Technologies Limited, Sumeru Microwave Communications Private Limited, Telstra, Quberider Pty Ltd, Innova Space, Telespazio S.p.A., GomSpace Group AB, EnduroSat, AAC Clyde Space, OneWeb, Speedcast International Limited, Raytheon, Honeywell International Inc., Cessna, Bombardier Inc., Telesat, Amazon, Starlink satellite constellation, Hughes Network Systems, Empresa Argentina de Soluciones Satelitales AR-SAT SA, Embraer, Al Yah Satellite Communications (YAHSAT), Arabsat, Es’hailSat, QSat Communications, Saman Satellite Communications, Thuraya Satellite, DragonFly Aerospace, NETLOXH, ETSE CubeCom, Omarichet, Simera Sense
The low earth orbit (leo) satellites market report table of contents includes:
- Executive Summary
- Low Earth Orbit (LEO) Satellites Market Characteristics
- Low Earth Orbit (LEO) Satellites Market Trends And Strategies
- Low Earth Orbit (LEO) Satellites Market – Macro Economic Scenario
- Global Low Earth Orbit (LEO) Satellites Market Size and Growth
- Low Earth Orbit (LEO) Satellites Market Segmentation
- Low Earth Orbit (LEO) Satellites Market Regional And Country Analysis
………….
- Key Mergers And Acquisitions In The Low Earth Orbit (LEO) Satellites Market
- Low Earth Orbit (LEO) Satellites Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Low Earth Orbit (LEO) Satellites Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Low Earth Orbit (LEO) Satellites Market, Segmentation By Sub-System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Low Earth Orbit (LEO) Satellites Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………….
Table 75: Thales Financial Performance
Table 76: Northrop Grumman Corporation Financial Performance
Table 77: Lockheed Martin Corporation Financial Performance
Table 78: The Boeing Company Financial Performance
Table 79: Airbus SE (Surrey Satellite Technology Ltd) Financial Performance
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