LEO Satellite Market worth $19.8 billion by 2026 at a CAGR of 15.5 %

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LEO Satellite Market worth 19.8 billion by 2026
at a CAGR of 15.5 The report "LEO Satellite
Market by Satellite Type (Small, Cube,
Medium, Large satellites), Application
(Communication, Earth Observation Remote
Sensing, Scientific, Technology), Subsystem, End
User, Frequency, and Region - Forecast to 2026"
The LEO Satellite Market is projected to grow
from USD 9.6 billion in 2021 to USD 19.8 billion
by 2026, at a CAGR of 15.5 . LEO satellite
systems hold a huge potential for satellite
data service providers, small sat
service sensing technical
providers, remote service providers, service
providers,
and investors. The market is one of the most
lucrative verticals of the space industry.
Factors such as versatility, low cost, advanced
mechanics, ease of assembly and launch, mass
production, and short lifecycles have driven
investments in the LEO satellite market. The
amount of satellite data and the range of
applications for that data will continue to
grow in the future as new technologies
develop and more satellites come online. Browse
289 market data Tables and 50 Figures spread
through 313 Pages and in- depth TOC on "LEO
Satellite Market Global Forecast to
2026" Download PDF Brochure _at_ https//www.marketsa
ndmarkets.com/pdfdownloadNew.asp?id252330251 Grow
ing investments by several governments
particularly in developed and developing
economies such as the US, India, and China, among
others. COVID-19 has affected the LEO satellite
market growth to some extent, and this varies
from country to country. Industry experts believe
that the pandemic has not affected the demand for
satellite equipment. Based on satellite type, the
small satellite segment is expected to lead the
LEO satellite market from 2021 to 2026. A small
satellite is a type of low mass and compact
satellite primarily employed for remote sensing,
Earth observation, and communication purposes.
These satellites usually weigh less than 500 kg.
Small satellites are used for in-orbit
inspection purposes of larger satellites. These
are also used as test carriers for newly developed
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components that are to be installed on a much
critical satellite. However, small satellites are
prone to operational challenges that include lack
of power storage and propulsion system, owing
to their small dimensions. In January 2022,
satellite communications provider, Starlink
launched a part of constellation of small
satellites in LEO. Based on application, the
communication segment is expected to lead the LEO
satellite market from 2021 to 2026. LEO
satellites are increasingly being adopted in
modern communication technologies. The
introduction of wireless satellite internet and
development of miniature hardware systems are
exploiting numerous opportunities in the
field of satellite-enabled communication. A
rise in RD activities for
communication-related missions is expected to
offer enhanced quality communication systems with
the help of highly sophisticated miniaturized
onboard nano, micro, and mini subsystems, coupled
with advanced mission-compatible ground-station
technology. Based on region, North America is
expected to lead the LEO satellite market from
2021 to 2026. 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.
In 2021, Swarm Technologies launched 28, 0.25U
CubeSat SpaceBEE. The CubeSat is the worlds
smallest two-way communications satellites for
IoT. Contracts were the main strategy adopted by
leading players to sustain their position in the
LEO satellite market, followed by new product
developments with advanced technologies. Many
companies also collaborated to set up special
centers for the research development of
advanced satellite systems. Key Market
Players The LEO satellite market is dominated by
a few globally established players such as
L3Harris Technologies (US), Honeywell
International Inc. (US), Airbus Space and
defense (Germany), SpaceX (US), Northrop Grumman
(US), among others. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id252330251
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