A new Report by Delvens, titled "Low Earth orbit (LEO) Satellite Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global Low Earth orbit (LEO) Satellite Market size is projected to reach a CAGR of 15.5% from 2023-2030.
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Low earth orbit (LEO) and geo stationary orbit (GEO) satellite have significant application in aerospace sector. A low earth orbit requires the lowest amount of energy for satellite placement. It provides high bandwidth and low communication latency. Satellites and space stations in LEO are more accessible for crew and servicing. Additionally, LEO is used for many communication applications, such as the Iridium phone system. LEO satellite and Geo stationary satellite have revolutionized global communications, television broadcasting, and weather forecasting, and have a number of important defense and intelligence applications.
Growth in the Low Earth orbit (LEO) Satellite Market can largely be attributed to factors such as the miniaturization of satellites, the growing connectivity of electronic devices, and the increasing demand for low earth orbit satellite constellations across industries. For example, in February 2022, SpaceX launched 49 Starlink satellites from NASA's Kennedy Space Centre (KSC) in Florida. These satellites will augment the existing constellation of 1700+ LEO satellites to provide faster satellite internet.
Delvens Industry Expert's Standpoint
The market for low-earth orbit satellites has been witnessing a surge in demand globally, attributed to multiple factors such as the growing trend for satellite miniaturization, increasing connectivity of electronic devices, expanding demand for low-earth orbit satellite constellations across industries, and the rising preference for software-defined payloads for communication satellites. The growing demand for reliable and efficient satellite communication solutions has been driving the market for low-earth orbit satellites, with industries looking to leverage these capabilities for a wide range of applications. This trend is expected to continue over the forecast period, driving growth opportunities for players in the market.
Competitive Landscape
• Airbus Defense and Space
• Amazon
• Antrix Corporation Limited
• Apsta
• ARA Antenna Research
• Arabsat
• Ariane Group
• AsiaSat
• Ball Aerospace & Technologies Corp
• Blue Origin
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Regional Analysis
North America to Dominate the Market
• The US is a lucrative market for LEO satellite systems in the North American region. The US government is increasingly investing in advanced LEO satellite technologies to enhance the quality and effectiveness of satellite communication. The increasing investment on satellite equipment to enhance defense and surveillance capabilities of the armed forces, modernization of existing communication in military platforms, critical infrastructure and law enforcement agencies using satellite systems, are key factors expected to drive the LEO satellite market in North America.
• For instance, in 2021, Swarm Technologies launched 28, 0.25U CubeSat SpaceBEE. The CubeSat is the world’s smallest two-way communications satellites for IoT.
Recent Developments
• In February 2022, SpaceX launched 49 Starlink spacecraft from NASA's Kennedy Space Center (KSC) in Florida. These satellites add to the existing 1700+ LEO satellite constellation in aim to provide faster satellite internet.
• In December 2021, Surrey Satellite Technology Ltd (SSTL) had been selected to lead a UK Space Agency study to define the mission requirements for a complex mission to de-orbit two non-operational space debris targets.
Reasons to Acquire
Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors.
Gain authentic and granular data access for Low Earth orbit (LEO) Satellite Market so as to understand the trends and the factors involved behind changing market situations.
Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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In addition to the market data for Low Earth Orbit (LEO) Satellite Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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