Low Earth Orbit (LEO) Satellites Global Market Report 2022: Rising Importance Across Communications and Defense Industries Fueling 18.2% Annual Growth
DUBLIN, Nov. 23, 2022 /PRNewswire/ — The “Low Earth Orbit (LEO) Satellites Global Market Report 2022, By Type, Sub-System, Application, End-User” report has been added to ResearchAndMarkets.com’s offering.
The global low earth orbit (LEO) satellites market is expected to grow from $3.50 billion in 2021 to $4.13 billion in 2022 at a compound annual growth rate (CAGR) of 18.2%. The growth is mainly due to the increasing adoption of low earth orbit satellites in various sectors, rising importance across communications and defense industries, increasing awareness regarding new forms of technology, integration of IoT, machine learning, rapid advancements in the aerospace, robust government support, increasing preferences towards software-defined payloads for communication satellites, miniaturization of satellite, and growing advancements in payload systems. The market is expected to reach $9 billion in 2026 at a CAGR of 21.5%.
North America was the largest region in the low earth orbit satellites market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing 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.
According to the United Nations, the world population is expected to reach 9.7 billion by 2050, resulting in a 69% increase in overall agricultural production between 2010 and 2050. For instance, in November 2020, the Indian Space Research Organisation (ISRO) announced the launch of an earth observation satellite for agriculture, forestry, disaster management support. Companies such as Planet and Satellogic are developing smart farming solutions by launching small and nanosatellites. Thus, the rising adoption of low earth orbit satellites in agriculture will enhance the growth of the low earth orbit satellites market.
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.
Scope
Markets Covered:
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
Key Topics Covered:
1. Executive Summary
2. Low Earth Orbit (LEO) Satellites Market Characteristics
3. Low Earth Orbit (LEO) Satellites Market Trends And Strategies
4. Impact Of COVID-19 On Low Earth Orbit (LEO) Satellites
5. Low Earth Orbit (LEO) Satellites Market Size And Growth
6. Low Earth Orbit (LEO) Satellites Market Segmentation
7. Low Earth Orbit (LEO) Satellites Market Regional And Country Analysis
8. Asia-Pacific Low Earth Orbit (LEO) Satellites Market
9. China Low Earth Orbit (LEO) Satellites Market
10. India Low Earth Orbit (LEO) Satellites Market
11. Japan Low Earth Orbit (LEO) Satellites Market
12. Australia Low Earth Orbit (LEO) Satellites Market
13. Indonesia Low Earth Orbit (LEO) Satellites Market
14. South Korea Low Earth Orbit (LEO) Satellites Market
15. Western Europe Low Earth Orbit (LEO) Satellites Market
16. UK Low Earth Orbit (LEO) Satellites Market
17. Germany Low Earth Orbit (LEO) Satellites Market
18. France Low Earth Orbit (LEO) Satellites Market
19. Eastern Europe Low Earth Orbit (LEO) Satellites Market
20. Russia Low Earth Orbit (LEO) Satellites Market
21. North America Low Earth Orbit (LEO) Satellites Market
22. USA Low Earth Orbit (LEO) Satellites Market
23. South America Low Earth Orbit (LEO) Satellites Market
24. Brazil Low Earth Orbit (LEO) Satellites Market
25. Middle East Low Earth Orbit (LEO) Satellites Market
26. Africa Low Earth Orbit (LEO) Satellites Market
27. Low Earth Orbit (LEO) Satellites Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Low Earth Orbit (LEO) Satellites Market
29. Low Earth Orbit (LEO) Satellites Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Northrop Grumman
- Kepler Communications
- SpaceX
- Boeing
- Lockheed Martin
- Thales Alenia Space
- Airbus Defence and Space
- SSL
- Globalstar
- BAE System
For more information about this report visit https://www.researchandmarkets.com/r/61rluu
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