Global Low Earth Orbit (LEO) Satellites Market Trends And Strategies Of Major Players In The LEO Satellites Market 2021-2030
29 Jul, 2021
The low earth orbit (LEO) satellites market consists of sales of low earth orbit satellites by entities (organizations, sole traders, and partnerships) that manufacture low earth orbit satellites. A low earth orbit satellite is an object that orbits the earth at lower altitudes than geosynchronous satellites. It is normally between 1000 km and 160 km above the earth. They are commonly used for communications, military reconnaissance, spying, and other imaging applications.
Global Low Earth Orbit (LEO) Satellites Market Size And Drivers:
the global low earth orbit (LEO) satellites market is expected to grow from $2.18 billion in 2020 to $2.34 billion in 2021 at a compound annual growth rate (CAGR) of 7.3%. The growth in the low earth orbit satellites market 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 LEO market is expected to reach $4.36 billion in 2025 at a CAGR of 16.9%. The increasing adoption of low earth orbit satellites in various sectors is expected to increase the growth of the low earth orbit satellites market growth in the forecast period.
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Trends In The Global Low Earth Orbit (LEO) 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.
Global Low Earth Orbit (LEO) Satellites Market Segments:
The global low earth orbit satellites market is further segmented based on type, sub system, application, end user and geography.
By Type: Femto, Pico, Nano, Micro, Mini
By Sub-System: Payload, Structure, Telecommunication, On-Board Computer, Power System, Attitude Control, Propulsion System
By Application: Technology Development, Earth Observation And Remote Sensing, Communication, Space Exploration, Surveillance
By End-User: Commercial, Civil, Government, Others
By Geography: The global low earth orbit satellites market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the low earth orbit satellites market in 2020.
Read More On The Report For The Global Low Earth Orbit (LEO) Satellites Market At:https://www.thebusinessresearchcompany.com/report/low-earth-orbit-leo-satellites--global-market-report
Low Earth Orbit (LEO) Satellites Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides low earth orbit (LEO) satellites market overviews, analyzes and forecasts market size and growth for the global low earth orbit (LEO) satellites market, low earth orbit (LEO) satellites market share, low earth orbit (LEO) satellites market players, low earth orbit (LEO) satellites market segments and geographies, low earth orbit (LEO) satellites market’s leading competitors’ revenues, profiles and market shares. The low earth orbit (LEO) satellites market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.