Low Earth Orbit (LEO) Satellite Market Overview, Demand, Outlook: 2030
Low Earth Orbit (LEO) Satellite Market by Satellite Type (Small, Cube, Medium, Large satellites), Application (Communication, Earth Observation & Remote Sensing, Scientific, Technology), Subsystem, End User, Frequency, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Low Earth orbit (LEO) Satellite Market size is projected to reach a CAGR of 15.5% from 2023–2030.
Low earth orbit (LEO) and geo stationary orbit (GEO) satellite have significant application in aerospace sector. A low earth orbit requires the lowest amount of energy for satellite placement. It provides high bandwidth and low communication latency. Satellites and space stations in LEO are more accessible for crew and servicing. Additionally, LEO is used for many communication applications, such as the Iridium phone system. LEO satellite and Geo stationary satellite have revolutionized global communications, television broadcasting, and weather forecasting, and have a number of important defense and intelligence applications.
Growth in the Low Earth orbit (LEO) Satellite Market can largely be attributed to factors such as the miniaturization of satellites, the growing connectivity of electronic devices, and the increasing demand for low earth orbit satellite constellations across industries. For example, in February 2022, SpaceX launched 49 Starlink satellites from NASA’s Kennedy Space Centre (KSC) in Florida. These satellites will augment the existing constellation of 1700+ LEO satellites to provide faster satellite internet. furthermore, the factors which will escalate the market are the recent development of power-sharing alternatives (such as wireless optical technologies), which can provide the power needed for data communications at high rates and increase in demand for low-cost broadband among individual consumers in less developed countries and rural areas, because these market expectations are driving investments in LEO constellations
On the other hand, government policies both at international and nation-state levels directly or indirectly influence the evolution of LEO satellite ecosystem and market which, may hamper the growth of the market. Furthermore, space debris may prove to be a hazard for LEO satellites, which, in turn, increase the number of debris due to collision or system failure. This is a significant challenge in this field and is under research by various space agencies.
The COVID-19 pandemic has caused significant damage to the economic activities of countries across the world. The manufacturing of LEO satellite systems, subsystems, and components has also been impacted. Although satellite systems are critically important, disruptions in the supply chain have halted their manufacturing processes for the time being. Resuming manufacturing activities depends on the level of COVID-19 exposure, the level at which manufacturing operations are running, and import-export regulations, among other factors. While companies may still be taking in orders, delivery schedules may not be fixed.
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Delvens Industry Expert’s Standpoint
The market for low-earth orbit satellites has been witnessing a surge in demand globally, attributed to multiple factors such as the growing trend for satellite miniaturization, increasing connectivity of electronic devices, expanding demand for low-earth orbit satellite constellations across industries, and the rising preference for software-defined payloads for communication satellites. The growing demand for reliable and efficient satellite communication solutions has been driving the market for low-earth orbit satellites, with industries looking to leverage these capabilities for a wide range of applications. This trend is expected to continue over the forecast period, driving growth opportunities for players in the market.
Key Findings
- LEO satellites are a disruptive technology with the potential to revolutionize connectivity and the overall satellite communication market. The race to deploy LEO satellite constellations is increasingly competitive and will require multi-stakeholder cooperation to deliver inclusive connectivity. Some of the prominent players in the LEO satellites market are Planet Labs Inc., Space Exploration Technologies Corp., Surrey Satellite Technology Ltd (Airbus SE), Blue Canyon Technologies Inc., and Northrop Grumman Corporation.
- The satellite type segment is sub-segmented into small satellite, cube satellite, medium satellite, and large satellite. The small satellite segment is expected to grow at the highest CAGR. A small satellite is a type of low-mass and compact satellite primarily employed for remote sensing, Earth observation, and communication purposes. These satellites usually weigh less than 500 kg. Small satellites are used for in-orbit inspection purposes of larger satellites. These are also used as test carriers for newly developed components that are to be installed on a much critical satellite.
- The application segment is sub-segmented into communication, earth observation & remote sensing, scientific, technology, and others. The communication segment is expected to reach the highest CAGR. LEO satellites are increasingly being adopted in modern communication technologies. The introduction of wireless satellite internet and the development of miniature hardware systems are exploiting numerous opportunities in the field of satellite-enabled communication. A rise in R&D activities for communication-related missions is expected to offer enhanced quality communication systems with the help of highly sophisticated miniaturized onboard nano, micro, and mini subsystems, coupled with advanced mission-compatible ground-station technology.
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Regional Analysis
North America to Dominate the Market
- The US is a lucrative market for LEO satellite systems in the North American region. The US government is increasingly investing in advanced LEO satellite technologies to enhance the quality and effectiveness of satellite communication. The increasing investment on satellite equipment to enhance defense and surveillance capabilities of the armed forces, modernization of existing communication in military platforms, critical infrastructure and law enforcement agencies using satellite systems, are key factors expected to drive the LEO satellite market in North America.
- For instance, in 2021, Swarm Technologies launched 28, 0.25U CubeSat SpaceBEE. The CubeSat is the world’s smallest two-way communications satellites for IoT.
Competitive Landscape
Airbus Defense and Space
Amazon
Antrix Corporation Limited
Apsta
ARA Antenna Research
Arabsat
Ariane Group
AsiaSat
Ball Aerospace & Technologies Corp
Blue Origin
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Recent Developments
- In February 2022, SpaceX launched 49 Starlink spacecraft from NASA’s Kennedy Space Center (KSC) in Florida. These satellites add to the existing 1700+ LEO satellite constellation in aim to provide faster satellite internet.
- In December 2021, Surrey Satellite Technology Ltd (SSTL) had been selected to lead a UK Space Agency study to define the mission requirements for a complex mission to de-orbit two non-operational space debris targets.
Reasons to Acquire
- Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors.
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- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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