The global Low Earth Orbit (LEO) satellite market size was reportedly significantly large in 2020, which is expected to expand significantly in 2028 and register a rapid CAGR during the forecast period. Industry analysis indicates that demand for more reliable products has been rising substantially, and adoption across communications and defense industries and sectors has been increasing in parallel, and these factors are expected to continue to support market growth over the forecast period.
The telecommunications industry, in cooperation with national space organizations, has significantly evolved in recent times to provide more efficient results in remote sensing, earth observation, and other related activities. Low Earth Orbit or LEO can be described as an orbit around Earth with an altitude to the surface of 2,000 kilometres and orbital period between 84 and 127 minutes. Thousands of small satellites or constellations are launched periodically into lower earth orbit to work together and operate more effectively as a single unit. These constellations are required to achieve global coverage given their location relative to Earth, since a single LEO satellite has limited field of view with respect to closeness to Earth’s surface. With advancements in research activities and rising investments in navigation systems, new and more lucrative opportunities are expected to continue to open up in the market.
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The research study comprises of vital information focusing on major market trends and estimated revenue growth rate. Additionally, the report highlights the market competition including the portfolios and strategic alliances and endeavors of the key competitors. It focuses on the mergers and acquisitions, joint ventures, partnerships, collaborations, product launches, brand promotions, and agreements, among others. The report also offers key insights about top companies in the market along with their company overview, business expansion plans, financial standing, production and manufacturing capacity, and global position.
Key companies operating in the market include: OneWeb Satellites, SpaceX, LeoSat Enterprises, Boeing, Thales Alenia Space, SSL (Space Systems Loral), Lockheed Martin, Planet Labs, ISS-Reshetnev, Northrop Grumman, and Kepler Communications are some major players in the market.The report provides comprehensive details about the market with respect to overall revenue, sales and consumption, pricing trends, gross margins, growth rate, and market size. The report also provides an extensive analysis of key regions where the market has established its presence. The report covers major geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. A country-wise analysis is also included to offer better insights into regional spread of the Geosynthetics market.
Type Outlook (Revenue, USD Billion; 2018 – 2028)
- <50 kg
- >500 Kg
Sub-System Outlook (Revenue, USD Billion; 2018 – 2028)
- On-Board Computer
- Power System
- Solar Cell
- Attitude Control
- Propulsion System
- Propellant Tank
- Valves and Regulators
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Communication & Navigation
- Remote Sensing
End-Use Outlook (Revenue, USD Billion; 2018 – 2028)
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The market is segmented into less than 50 kg, 50–500 Kg, and more than 500 Kg on the basis of product type. The 50–500 kg segment is expected register the highest average annual growth due to increased demand in the commercial sector to address rising need for broadband Internet services and demand for high-definition videos. High-definition videos require higher bandwidth and connectivity speed and loading capacity, thus enabling players to innovate existing satellites and expand their in-orbit fleets. Furthermore, requirements for high accuracy data collected from observation of earth’s surface will drive segment growth. The less than 50 kg segment will also contribute significantly to market growth owing to cost-efficiency, easy operations, and overall flexibility.
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