The global low earth orbit (LEO) satellites market size 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 in the 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 satellites market is expected to reach $9.00 billion in 2026 at a CAGR of 21.5%.
What is the Global Low Earth Orbit (LEO) Satellites Market?
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.
Get a Sample of the global low earth orbit (LEO) satellites market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5170&&type=smp
What drives the Global Low Earth Orbit (LEO) Satellites Market?
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. 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 Organization (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.
Get the full global low earth orbit (LEO) satellites industry report here
https://www.thebusinessresearchcompany.com/report/low-earth-orbit-leo-satellites-global-market-report
Global Low Earth Orbit (LEO) Satellites Market Segments
The global low earth orbit (LEO) satellites market is segmented:
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 regions covered in the low earth orbit (LEO) satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Low Earth Orbit (LEO) Satellites Global Market Report 2022provides market size and growth forecasts for the global low earth orbit (LEO) satellites market, global low earth orbit (LEO) satellites market share, low earth orbit (LEO) satellites market segments and geographies, low earth orbit (LEO) satellites market competitive landscape including 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.
Global Low Earth Orbit (LEO) Satellites Industry Playersinclude Northrop Grumman, Kepler Communications, SpaceX, Boeing, Lockheed Martin, Thales Alenia Space, Airbus Defence and Space, SSL, Globalstar, and BAE System. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
