Press release
Low Earth Orbit (LEO) Satellites Market: Surging to $12.31 Billion by 2029
Low Earth Orbit (LEO) Satellites Market Size
With a significant impetus from emerging markets and increased investments, the LEO satellites market is exhibiting soaring growth.
What Is The Projected Market Size Of The Global Low Earth Orbit (LEO) Satellites Market And Its Growth Rate?
Highlights from recent market research about the Low Earth Orbit (LEO) Satellites market include:
- Increasing from $6.2 billion in 2024 to $7.16 billion in 2025, the market will demonstrate a CAGR of 15.5%.
- The market is projected to expand further to $12.31 billion in 2029 at a CAGR of 14.5%.
What Is Driving The Growth In The Low Earth Orbit (LEO) Satellites Market?
With a primary role in earth observation and other critical sectors, low earth orbit satellites, particularly those for agricultural applications, are fundamental drivers of the aerospace market. Additional growth catalysts are the increasing number of operational satellites, as evidenced by the Union of Concerned Scientists' satellite database which lists over 4,852 satellites orbiting Earth, with most of them in low earth orbit. Substantial launches such as the 34 satellites deployed by OneWeb in February 2022 are further enhancing the growth potential.
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Who Are the Key Players Driving Low Earth Orbit (LEO) Satellites Market Growth?
Key players in the LEO satellites market include:
- Thales
- Northrop Grumman Corporation
- Lockheed Martin Corporation
- The Boeing Company
- Airbus SE (Surrey Satellite Technology Ltd)
- L3Harris Technologies
- Kepler Communications Inc.
What Are The Key Trends In The Low Earth Orbit (LEO) Satellites Market?
Notable market trends include:
- The use of artificial intelligence and machine learning for optimizing mission efficiency and reducing operational costs.
- Launch of advanced low earth orbit satellites providing connectivity.
- Adoption of 3D printing to reduce satellite and subsystem production costs.
What Are The Segments Of The Global Low Earth Orbit (LEO) Satellites Market?
The global Low Earth Orbit (LEO) Satellites market segments include:
- 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
Which Region Leads The Low Earth Orbit (LEO) Satellites Market?
North America led the low earth orbit satellites market in 2024 and is projected to remain the fastest-growing region. The market report covers other regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Low Earth Orbit (LEO) Satellites Market Global Market Report?
- Market Size Analysis: Analyze the Low Earth Orbit (LEO) Satellites Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Low Earth Orbit (LEO) Satellites Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Low Earth Orbit (LEO) Satellites Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Low Earth Orbit (LEO) Satellites Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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