LEO Satellite Market by Types (Femto, Pico, Nano, Micro, and Mini), by Subsystems (Payload, Structure, Telecommunication, On-Board Computer, Power System, Attitude Control, and Propulsion System), by Application (Technology Development and Demonstration, Earth Observation and Remote Sensing, Communication, Space Exploration, and Surveillance), and by End-Users (Academic, Commercial, Government, Defense, and Non-profit Organization) - Global Opportunity Analysis and Industry Forecast 2022-2030

Market Definition:

Global LEO Satellite Market size was valued at USD 7.85 billion in 2021 and is predicted to reach USD 23.55 billion by 2030 with a CAGR of 11.9% from 2022-2030. 

Low earth orbit (LEO) satellite is an object, that lies between 200 and 2,000 kilometers above the earth. These satellites offer low latency, good network coverage with relatively moderate throughput levels (approximately 100Mbps) compared to GEO satellites. They are popular due to their small size, minimal expense, and light weight. They are utilized in various applications such as space exploration, communication, earth observation, remote sensing, demonstration, and surveillance.

Market Dynamics and Trends:

The demand for LEO satellite is rising due to growing demand for earth observation imagery & analytics along with increasing demand for CubeSats, small satellites weighing less than 2 kg per unit. Also, upsurge in the demand for LEO satellite services across industries such as agriculture, IT & telecommunication, oil & gas, and mining, coupled with increasing developments of satellite networks to provide internet access boost the market growth during the forecast period.

However, coverage, efficiency, and complexity of LEO satellites are the factors restraining the growth of market. On the other hand, technological advancements in antennas, ground stations, and other areas, are expected to create lucrative growth opportunities for the LEO satellite market players in the future.

Market Segmentations and Scope of the Study:

The LEO Satellite market has been segmented on the basis of type, subsystems, application, end-users, and geography. Based on type, the market is divided into femto, pico, nano, micro, and mini. Based on subsystems, the market is segmented into payload, structure, telecommunication, on-board computer, power system, attitude control, and propulsion system. The payload segment is further divided into earth observation, communication, navigation, and others. The telecommunication segment is further segregated into antenna, transponder, and other. The power system is further segmented into solar cell, batteries, and others. The propulsion system is further segmented into thruster, propellant tank, valves, and regulators. Based on application, the market is segregated into technology development and demonstration, earth observation and remote sensing, communication, space exploration and surveillance. Based on end-users, the market is divided into academic, commercial, government, defense, and non-profit organization. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America holds the prime share of LEO satellite market and is expected to continue dominating the market during the forecast period. This is attributed to factors such as presence of major operators such as ORBCOMM INC., Comtech EF Data Corporation, and Datum Systems in the region along with high investment by the government in this sector to develop latest technologies aimed at improving space access.

However, Asia-Pacific region would witness high growth owing to increasing in usage of LEO satellite for commercial application in the region. Also, increasing geopolitical tension and competition among countries to dominate the space, requirement for having strong communication infrastructure, and efforts to create alternative of GPS in the region are expected to boost the demand for LEO satellite market.

Competitive Landscape:

The LEO satellite market comprises of various players such as Airbus S.A.S., Raytheon Technologies., Thales Group, Lockheed Martin Corporation., Phase Four, Honeywell International Inc, SPACEX, SSL, Mitsubishi Electric Corporation, and ISRO. These manufacturers are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their product and increase their growth and geographical reach. 

For instance, in February 2021, Thales Group and Leonardo signed an agreement with leading global satellite operator Telesat to be the prime contractor on the construction of Lightspeed, its advanced LEO satellite network, that comprises of 298 satellites. Moreover, by 2021, Astrome Technologies is planning to launch a constellation of 200 minisatellites for providing high-speed internet with 100 gigabytes per second capacity through its patented millimeter (MM) wave technology.

KEY BENEFITS:

• The LEO satellite market report provides the quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the LEO satellite market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the LEO satellite market is provided in the report.

• The competitive analysis of the market players along with their market share in the LEO satellite market.

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS:

By Type

• Femto

• Pico

• Nano

• Micro

• Mini

By Subsystems

• Payload

  • Earth Observation

  • Communication

  • Navigation

  • Others

• Structure

• Telecommunication

  • Antenna

  • Transponder

  • Other

• On-Board Computer

• Power System

  • Solar Cell

  • Batteries

  • Others

• Attitude Control

• Propulsion System

  • Thruster

  • Propellant Tank

  • Valves

  • Regulators

By Application

• Technology Development and Demonstration

• Earth Observation and Remote Sensing

• Communication

• Space Exploration

• Surveillance

By End-Users

• Academic

• Commercial

• Government

• Defense

• Non-profit Organization

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining countries

REPORT SCOPE AND SEGMENTATION: