LEO Satellite Market Size, Share, Trends Analysis & Forecast

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SATELLITE MARKET GLOBAL TOP 2000 STRATEGIST RELY
ON US FOR THEIR GROWTH STRATEGIES. KLNEOOW
MSORaEtell(i/KtneowMledagersktoeret.abspyreSquaes
tte_frlelei_tterialT) ype (Small, Cube, Medium,
Large satellites), Application (Communication,
Earth Observation Remote Sensing, Scientific,
Technology), Subsystem, End User, Frequency, and
Region (2021-2026) FREE BROCHURE
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Report Code AS 8060Mar, 2022, by
marketsandmarkets.com DESCRIPTION TABLE OF
CONTENTS METHODOLOGY DOWNLOAD PDF
(/PDFDOWNLOADNEW.ASP?ID252330251) Updated on
April 04, 2023 The LEO Satellite Market was
valued at 9.6 billion in 2021 and is estimated
to grow from 12.6 billion by 2023 to 19.8
billion by 2026 at a CAGR (Compound Annual Growth
Rate) of 15.5, during the forecast period. LEO
satellite systems hold a huge potential for
satellite data service providers, small sat
service providers, remote sensing service
providers, technical 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.
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330251) COVID-19 Impact on the LEO satellite
Market The COVID-19 pandemic has caused
significant damage to the economic activities of
countries across the world. The manufacturing of
LEO satellite systems, subsystems, and components
has also been impacted. Although satellite
systems are critically important, disruptions in
the supply chain have halted their manufacturing
processes for the time being. Resuming
manufacturing activities depends on the level of
COVID-19 exposure, the level at which
manufacturing operations are running, and
import-export regulations, among other
factors. While companies may still be taking in
orders, delivery schedules may not be fixed. LEO
satellite Market Dynamics Driver Increase in
demand for LEO-based services Demand for
low-cost, high-speed broadband with increased
capacity for enterprise data (retail, banking),
energy sector (oil, gas, mining), and
governments in industrialized countries is
growing. Thus, there is an increase in demand
for low-cost broadband among individual consumers
in less developed countries and rural areas,
which may not have access to the internet. These
market expectations are driving investments in
LEO constellations. Also, there is a high demand
for low-cost, high-speed broadband in
industrialized countries, and if all planned LEO
constellations succeed, the supply could be
higher than the expected demand, which would
drive the price per megabit down. According to
the Science and Technology Policy Institute,
satellite broadband capacity demand (served by
both small and larger satellites in GEO, MEO,
and LEO will grow at a CAGR of 29 by 2024,
reaching more than 3 terabits of bandwidth 12
however, proposed LEO constellations can
collectively deliver almost 10 times as much, if
operational.
Restrains Government policies Government
policies at both the nation-state and
international levels directly or indirectly
influence the evolution of the LEO satellite
ecosystem and market. Currently, there is no
comprehensive global or domestic
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for example, there are no regulations related to
on-orbit activities, such as rendezvous
space-based Space Situational Awareness (SSA), or
RF mapping. Internationally. with gaged in LEO
satellite activities, a consensus has not been
reached, and there are a (fe/)w indicators that
depict that there will be a comprehensive global
regime beyond the high-level dictates in the
Outer Space Treaty. Although operators have
expressed interest in developing regulations that
would provide HcOeMrtEa(i/n) tyABtoOUinTvUeSs(/tA
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remote sensing in the US and proximity
operations, more than 70 countries en
CONTACT US (/CONTACTUS.ASP) the significant
efforts involved in creating international
community agreements, developing policies
and regulations for the quickly evolving
commercial space industry will be a challenge for
the next 10 years.
Opportunities Potential applications of space
optical communications using laser beams Recent
developments in laser beam pointing technology
have increased the scope of LEO satellites in
space optical communications. Using this
technology, communication is possible from
earth-to-earth orbit and into deep space such as
mars and moon and is used in missions such as
Artemis Program. Due to the increase in the
number of LEO constellations, this technology
helps in communication between the satellites in
a constellation. The recent developments in
alternate power-sharing technologies (using
wireless optical technology) that can provide
the power demands of high data rate communication
have increased the opportunity for the expansion
of the LEO satellite market. Challenges
Concerns over space debris LEO satellites may
pose a threat to the space environment as they
are often launched in densely populated orbits.
This is because LEO satellites are subsidiary
payloads that are piggybacked on launches
dedicated to larger and more expensive
satellites. They are generally deployed near or
with other large satellites. These large
satellites are positioned in sun-synchronous
orbits or geostationary transfer orbits, which
have space debris. Nanosatellites and
microsatellites lack the maneuverability required
to move around in such orbits. Native radar
signatures of these satellites are typically
small and often below the threshold of perception
for space surveillance sensors. Furthermore,
space debris may prove to be a hazard for LEO
satellites, which, in turn, increase the number
of debris due to collision or system failure.
This is a significant challenge in this field and
is under research by various space
agencies. Based on satellite type, the small
satellite segment is expected to lead the LEO
satellite market from 2021 to 2026. A small
satellite (https//www.marketsandmarkets.com/Marke
t-Reports/small-satellite-market-150947396.html)
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
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
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d quality communication systems with the help of
highly sophisticated miniaturized mini
subsystems, coupled with advanced
mission-compatible ground-station
expected to offer enhance onboard nano, micro,
and technology.
(/) Based on region, North America is expected to
lead the LEO satellite market from 2021 to
2026. HTOhMeE U(/)S AisBOaUTluUcSra(/AtiBvOeUmTUaS
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FINeGnSh.HaTnMcLe) thCAeRqEuERaSlit(y/CAaRnEdERe.
fAfSePc)tiveness of satellite CONTACT US
(/CONTACTUS.ASP) 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.
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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.
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trategy adopted by leading players to sustain
their position in the LEO satellite market,
evelopments with advanced technologies. Many
companies also collaborated to set up earch
development of advanced satellite systems.
Contracts were the main s followed by new product
d special centers for the res
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Scope of the Report
Report Metric Details
Market size available for years 20182026
Base year considered 2020
Forecast period 2021-2026
Forecast units Value (USD Million)
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overed
By Application, by End user, by Satellite type,
by Frequency, by Sub-system and by region
Segments c
(/)
North America, Europe, Asia Pacific, Middle East
Africa and Latin America
Geographies covered
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International Inc. (US), Lockheed Martin (US),
Northrop Grumman (US), Airbus (Germany), SpaceX
(US) are some of the major players of LEO
satellite market. (25 Companies)
The study categorizes the LEO satellite market
based on Application, End user, Satellite type,
Frequency, Sub- system, and region. By
Satellite type Small satellite Cube satellite
Medium satellite Large satellite By
Sub-system Satellite Bus Payloads Solar
Panels Satellite Antenna Others By End
use Commercial Government Military Dual
Use By Frequency L- Band S-Band C-Band X-Band
Ku-Band Ka-Band Q/V- Band HF/VHF/UHF-Band
Laser/Optical
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By Application Communication Earth Observation
Remote Sensing
Scientific Technology
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By Region North America Europe Asia
Pacific Middle East Africa Latin America
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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. In December 2021, Surrey Satellite
Technology Ltd (SSTL) had signed a contract with
Satellite Vu for a Mid Wave Infra-Red (MWIR)
thermal imaging satellite which will pave the way
for a planned constellation of seven MWIR
spacecraft. Satellite Vus MWIR satellite is
based on SSTLs DarkCarb product, a 100kg class
small satellite in SSTLs Carbonite range. In
March 2021, SKY Perfect JSAT Corporation, the
main satellite operator in Japan and the world
leading Fixed Satellite Service provider, had
selected Airbus to build Superbird-9, a fully
digital in-orbit reconfigurable
telecommunications satellite. In February 2021,
Lockheed Martin contracted ABL Space Systems, of
California, a developer of low-cost launch
vehicles and launch systems for the small
satellite industry, to supply a rocket and
associated launch services for the companys
first UK vertical satellite launch. In September
2020, The Space Development Agency (SDA) awarded
a Tranche 0 contract of the Space Transport
Layer to Lockheed Martin to demonstrate a mesh
network of 10 small satellites that links
terrestrial warfighting domains to space sensors
all launching in just two years. In July 2020,
L3Harris Technologies launched the demonstration
series of end-to-end small satellites as part of
a U.S. Air Force constellation, the company is
responsible for developing. In September 2020,
Northrop Grumman received a USD 253.5 million
contract by the US Space Force to develop a
cyber-secure communications payload that could be
deployed on military or commercial satellite. In
July 2020, Airbus Defence and Space had won a
contract for a fully reconfigurable
telecommunications satellite from Australias
second-largest telecommunications company and
leading satellite operator Optus. The satellite
will be based on Airbus new standard OneSat
product line and is Airbus first contract from
the Australian operator. In June 2020, Iridium
Communications signed a contract with Relativity
Space to deliver satellites to the LEO. The
contract included flexible timing for up to 6
dedicated launches to deploy Iridiums ground
spare
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uestions (FAQs) Addressed by the Report panies
in the LEO satellite market? What are their major
strategies to strengthen (/) their market
presence?
Frequently Asked Q Which are the major com
What are the drivers and opportunities for the
LEO SsaigtneIlnlit(ehttmpsa/r/wkewtw?.marketsandm
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CONWTAhCicThUSre(/gCiOoNnTiAsCeTUxpS.eAcStPe)d to
grow at the highest rate in the next five
years? Which type of LEO satellite systems is
expected to significantly lead in the coming
years? To speak to our analyst for a discussion
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REPORT CODE AS 8060
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