Press release
Global LEO Satellite Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028
A Low Earth Orbit (LEO) satellite is a type of satellite that orbits the Earth at a lower altitude than geosynchronous satellites. LEO satellites orbit the Earth at a distance of 2000 to 200 kilometres. LEO satellites are commonly used for communications, military intelligence, reconnaissance, and imaging. The majority of man-made objects orbiting the Earth are in low-Earth orbit (LEO). In LEO, communications satellites use low signal propagation delay. Because they are closer to Earth, many types of Earth observation satellites can detect smaller objects with greater resolution. The contact area of LEO satellites is substantially less than that of high-altitude satellites. They circle fast around the Earth.
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North America is projected to have the highest CAGR over the forecast period. To improve the quality and effectiveness of satellite communication, the US government is boosting its investments in sophisticated LEO satellite technologies. The increasing investment in satellite equipment to improve the armed forces' defence and surveillance capabilities, as well as the modernization of existing communication in military platforms, critical infrastructure, and law enforcement agencies using satellite systems, are expected to drive the LEO satellite market in North America.
Some of the key players profiled in the LEO Satellite Market include OHB SE, Space Exploration Technologies Corp. (Spacex), Gomspace, Maxar Technologies, Exolaunch GMBH, Pumpkin INC., Ball Aerospace & Technologies, Lockheed Martin Corporation, AAC Clyde Space, Airbus Defense & Space, The Aerospace Corporation, Dauria Aerospace Ltd., L3harris Technologies Inc., Raytheon Technologies Corporation, Northrop Grumman Corporation, Surrey Satellite Technology Ltd (SSTL), Mitsubishi Electric Corporation, Sierra Nevada Corporation, Planet Labs INC and Thales Group.
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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