The Low Earth Orbit Satellites Global Market Report 2023 by The Business Research Company, provides low earth orbit (leo) satellites market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Low Earth Orbit Satellites Global Market Report 2023, the market size is expected to grow from$4.29 billion in 2022 to $5.26 billion in 2023 at a compound annual growth rate (CAGR) of 22.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of low earth orbit (leo) satellites market is expected to grow to $12.51 billion in 2027 at a CAGR of 24.2%.
The increase in adoption of low earth orbit satellites in various sectors is expected to increase the growth of the low earth orbit (LEO) satellites market growth in the forecast period. Low earth orbit satellites serve an important role in earth observation for satellites in the field of farming and are one of the most important enablers of the planet’s protection, safety, and longevity. Earth observation is a way of observing and measuring biological, chemical, and physical factors on a global scale using data from low earth orbit satellites.
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The low earth orbit (leo) satellites market 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, Others
The launch of advanced low earth orbit satellites is gaining significant popularity in the low earth orbit satellites market. Major players operating in the low earth orbit satellite sector are focusing on satellite launches to provide global connectivity. For instance, in April 2021, OneWeb, a UK-based low earth orbit satellite communications operator launched 32 LEO satellites from Vostochny cosmodrome in Russia. With the recent launch, OneWeb now has a total of 182 satellites in orbit. These would be part of OneWeb’s 648 LEO satellite constellation, which will provide worldwide connectivity at fast speeds and with low latency. Further, in November 2020, Mitsubishi Heavy Industries (MHI), a Japan-based engineering company, launched an advanced relay satellite with laser communications tech into orbit. The satellite payload, called Laser Utilizing Communication System (LUCAS), will send data from satellites in low Earth orbit using laser technology.
The low earth orbit (leo) satellites market report table of contents includes:
- Low Earth Orbit (LEO) Satellites Market Executive Summary
- Table of Contents
- List of Figures
- List of Tables
- Report Structure
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- Low Earth Orbit (LEO) Satellites Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Low Earth Orbit (LEO) Satellites Market
- Low Earth Orbit (LEO) Satellites Market Opportunities And Strategies
- Low Earth Orbit Satellites Market, Conclusions And Recommendations
- Appendix
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