https://www.fortunebusinessinsights.com/leo-satellite-market-112113
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/leo-satellite-market-112113
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/leo-satellite-market-112113
According to Fortune Business Insights, the global LEO satellite market was valued at USD
7.71 billion in 2024. The market is projected to grow from USD 7.93 billion in 2025 to USD
11.53 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period. In 2024, North
America dominated the market, accounting for a 38.91% share.
The global LEO (Low Earth Orbit) satellite market is experiencing steady growth, driven by rising
demand for high-speed connectivity, Earth observation, and satellite-based communication services.
LEO satellites, positioned closer to the Earth’s surface, offer advantages such as low latency, high-
resolution imaging, and efficient data transmission, making them ideal for a range of commercial,
governmental, and defense applications. Technological advancements, increased investment in
space infrastructure, and growing interest in satellite constellations from private players are further
fueling market expansion.
List of Key Players Mentioned in the Report:
•
SpaceX (U.S.)
•
Airbus Defense and Space (Germany)
•
Lockheed Martin (U.S.)
•
OneWeb (U.K.)
•
Boeing (U.S.)
•
Planet Labs Inc. (U.S.)
•
Spire Global Inc. (U.S.)
•
Iridium Communications Inc. (U.S.)
•
Swarm Technologies (U.S.)
•
GomSpace (Denmark)
Get A Free Sample PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/leo-satellite-
market-112113
Segmentation:
Small Segment Dominated, Driven by Technological Advancements
In terms of type, the LEO satellite market is fragmented into small, medium, and large. The
small segment held the dominant share of the market. Innovation in miniaturization and the
usage of commercial off-the-shelf components enable the incorporation of advanced
technologies in a more compact and affordable form, boosting segment growth.
Communication Segment Led On Account of Rising Need for Mobile Communication
By application, the market is divided into communication, earth observation, navigation,
scientific research, and others. The communication segment captured the highest LEO
satellite market share. The growing demand for mobile communication and high-speed
internet for data sharing is driving the growth of the segment.
https://www.fortunebusinessinsights.com/leo-satellite-market-112113
Expanding Satellite use in Various Areas Led to the Dominance of Commercial Segment
Based on end use, the market is categorized into commercial and government & military.
The commercial segment held the apex position of the market, fueled by growing satellite
applications in weather forecasting, earth observation, IoT connectivity, and more. Major
firms such as OneWeb and SpaceX are heavily investing in satellite deployment.
In terms of region, the market is categorized into Europe, North America, the Asia Pacific,
Latin America, and the Middle East & Africa.
Report Coverage:
The global LEO satellite market report offers an in-depth analysis of market size, forecasts,
and segmentation by application, end use, and type. It explores market trends, competition,
product pricing, and key developments that have influenced the global market growth.
Information Source:
https://www.fortunebusinessinsights.com/leo-satellite-market-112113
Drivers and Restraints: LEO Satellite Market
Rise of Small Satellites Constellations and Incorporation of Advanced Technologies to
Bolster Market Growth
The launch of 2,402 small satellites in 2022 highlights the growing trend of adopting cost-
effective and interconnected satellites. These systems enable extensive constellations that
enhance global coverage and connectivity, meeting rising data and connectivity demands.
Moreover, LEO satellite systems are becoming increasingly sophisticated, utilizing AI and
machine learning to improve operational efficiency, lower costs, and provide low-latency
solutions, further accelerating product adoption.
However, stringent regulations for satellite coordination and management can drive up
operational costs and add complexity to satellite deployment, deterring LEO satellite market
growth.
Regional Insights:
North America to Dominate the Market Owing to Strong Investment in Satellite Systems
North America leads the LEO satellite market with significant investments aimed at
improving border surveillance, missile tracking capabilities, and national security. Leading
companies such as Amazon, SpaceX, and Boeing are rapidly advancing satellite production
and deployment, including Amazon’s Project Kuiper, which aims to produce over 3,000
satellites for enhanced global connectivity in July 2024.
The Asia Pacific region is benefitting from ongoing progress in spaceflight technology and
launch systems, which supports the growth of the market. In August 2024, China’s plans to
launch LEO satellites for its megaconstellation backed to a significant contract with the NRO,
are set to enhance satellite infrastructure and global connectivity.
Competitive Landscape-
Key Players Focus on Mergers and Acquisitions to Sustain their Market Growth
Market leaders are focusing on advancing their product offerings by investing in R&D and
developing diverse solutions. They are leveraging mergers, acquisitions, and new product
launches to sustain their growth. Additionally, heavy investments in satellite networks are
driving the push for global connectivity.
Key Industry Development:
May 2024- The Ministry of Science and ICT in South Korea announced a USD 234.4 million
project to launch two LEO satellites by 2030, leveraging 6G communication technology for
advanced satellite-based connectivity.