LEO Satellite Market by Type (Small Satellite, Medium Satellite, and Large Satellite), Application (Communication, Earth Observation, Scientific Research, Military Reconnaissance, and Others), Orbit Range (Below 500 Km, 500-1500 Km, and 1500-2000 Km), End Users (Commercial, Government & Military), Frequency (KU & KA Band, L-Band, S-Band, C-Band, X-Band, HF/VHF/UHF Band, and Others): Global Market Size Estimates and Forecast (2019–2030)

Code: BMIRE00025798 | Pages: 100 | Industry: Aerospace and Defense | Date: Sep 2022 | Type: Global

The market crossed US$ 11.74 billion in 2022 and is expected to hit US$ 56.73 billion by 2030, recording a CAGR of 21.8% during the forecast period.

The Increasing Number of Small Satellite Launches has been Significantly Boosting the LEO Satellite Market Growth

The growing number of small satellite launches is one of the prime factors catalyzing the growth of LEO satellite market. In 2021, around 1,738 small satellites were launched wherein 96% of the satellite launch volume or mass was launched into LEO.  The significant growth in commercial constellations across the countries such as China, US, and India are expected to drive the market growth during the near future. For instance, according to the China’s 14th 5-year plan released in 2021, the country is majorly focusing on LEO broadband technology under the GuoWang constellation of 12,992 small satellites. However, currently China do not have the capacity to launch such large volume of satellites which is further expected to launch during the forecast period, as several companies across the country are collaboratively working on the development of the same. Such developments are likely to drive the demand for LEO satellites across the world during the forecast period. 

Within the report, the market is segmented into type, application, orbit range, end users, frequency, and geography. By type, the market is segmented into small satellite, medium satellite, and large satellite. Based on application, the market is segmented into communication, earth observation, scientific research, military reconnaissance, and others. By orbit range, the market is segmented into below 500 Km, 500-1500 Km, and 1500-2000 Km. Based on end users, the market is segmented on commercial and government & military. Based on frequency, the market is further segmented into KU & KA Band, L-Band, S-Band, C-Band, X-Band, HF/VHF/UHF Band, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

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LEO Satellite Market Report Scope & Strategic Developments:

Report Coverage  Details
Base Year:  2022
Market Size in 2022:  11.74 Billion (USD)
Forecast Period:  2019 to 2030
Forecast Period 2022 to 2030 CAGR:  21.80%
2030 Value Projection:  56.73 billion (USD)
No. of Pages:  100
Segments covered:  Type, Application, Orbit Range, End Users, Frequency 

Constellation Launches to Provide Future Opportunities for Market Vendors During the Forecast Period.

Several vendors majorly focusing on the launch of large number of small constellation satellites is one of the major factors expected to generate huge opportunities for market vendors during the forecast period. For instance, in 2018, SpaceX got the approval from the US Federal Communications Commission (FCC) to launch a constellation of around 12,000 satellites wherein two prototypes test flights have already been conducted in 2019. Similarly, in April 2022, Amazon signed a contract with three companies that include Arianespace, Blue Origin, and United Launch Alliance (ULA) to deploy its Kuiper satellite constellation for high-speed, low-latency broadband services. Under the Amazon’s satellite constellation project, a total of 3,236 satellites under 83 launch initiatives will be conducted till 2027. Moreover, in 2019, Arianespace launched 6 satellites for OneWeb constellation wherein the other 894 satellites were yet to be launched under OneWeb 900 satellite constellation project. By February 2022, the company has launched around 428 satellites and rest of 472 satellites are yet to be launched. The company OneWeb bankrupted and recovred from the same in November 2020 with US$ 1 billion of fresh capital that again started operating in the market in 2021. Such initiatives are catalyzing the growth of LEO satellite market globally.

5G Development is Pushing the Market Vendors to Develop Large Number Of Satellites for Communications Sector which is Another Major Factor Accelerating the Market Growth.

The development of 5G spectrum across various countries have been pushing the space satellite operators to clear their existing spectrum or to launch new satellites into the space. Several satellite operator companies have been initiating their plans to launch large number of small satellite constellations into the space to provide broad spectrum of services for 5G infrastructure. As, the COVID-19 has impacted the roll-out of 5G into hold for almost two years, several projects got delayed during the same period. However, during the same period SpaceX launched thousands of satellites into the space, that has driven the market for LEO satellite during 2020-2021. Moreover, several space startup companies have gone public during the same year and currently are involved in major constellation launch projects. Such factors are propelling the LEO satellite market.

Recent Strategic Developments in LEO Satellite Market

The LEO Satellite Market has undergone several significant developments, and a few of these have been mentioned below:

  • In March 2022, OneWeb signed an agreement with SpaceX to resume its satellite launches of another 472 satellites whose launches are expected to be start by third quarter of 2022.
  • In August 2022, SpaceX launched 54 Starlink satellites into low earth orbit for bringing internet access to underserved areas worldwide.
  • In May 2022, the Canadian satellite operator Telesat announced its plans to procure 188 satellites along with 10 in-orbit spares from Thales Alenia Space.

The LEO satellite market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Airbus, BAE Systems Plc, Boeing, Globalstar, Kepler Communications Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Space Exploration Technologies Corp., Maxar Technologies, and Thales Group are among the prominent players operating in the market.

Target audience for the report:

  • Component providers
  • Small satellite manufacturers
  • Medium satellite manufacturers
  • Large satellite manufacturers
  • Satellite component manufacturers
  • Satellite operators
  • SATCOM operators
  • Telecom operators
  • Satellite related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Small Satellite
    • Medium Satellite
    • Large Satellite
  • Application
    • Communication
    • Earth Observation
    • Scientific Research
    • Military Reconnaissance
    • Others
  • Orbit Range
    • Below 500 Km
    • 500-1500 Km
    • 1500-2000 Km
  • Frequency
    • KU & KA Band
    • L-Band
    • S-Band
    • C-Band
    • X-Band
    • HF/VHF/UHF Band
    • Others
  • Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
    • Asia Pacific (APAC)
    • Middle East & Africa
    • South America
  • Companies profiled
    • Airbus
    • BAE Systems Plc
    • Boeing
    • Lockheed Martin Corporation
    • Northrop Grumman Corporation

 

  • Airbus
  • BAE Systems Plc
  • Boeing
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
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