The global LEO satellite communication market is expected to grow at a significant CAGR during the forecast period 2024-2031. The LEO satellite communication is a complex telecommunication system in LEO (Low Earth Orbit). The distance range covered LEO satellite communication systems is about 400-1000 miles above the earth surface. The application of LEO satellite communication in telecommunication includes video conferencing, e-mails and paging. The capacity of LEO Satellite Communication is extremely high as it moved with a speed of about 17,000 mph and can complete every single orbit in 10 minutes.
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In the military and commercial sectors, the demand for LEO satellite communication is gradually increasing at a higher pace. This will contribute as a major market driver to accelerate the growth and create new opportunities for the global LEO satellite communication market. The increasing technological advancement and growing adoption of strategies by telecommunication industries in research & development and manufacturing and production segments is driving the growth of the global LEO satellite communication market.
The low energy requirement to locate a satellite communication in a low earth orbit (LEO) over other satellite communication systems including iridium phone systems is a major dynamic that is anticipated to fuel the market growth of the global LEO satellite communication market. The widespread application of satellite communication over a cellular network in terms of long-range coverage is impacting the market growth. Additionally, the rising emergence of LEO based satellites as an alternative to various communication technologies including Sigfox, LPWA, LoRaWAN, NB-IoT among others is expected to flourish the market growth and introduce lucrative opportunities for the global LEO satellite communication market.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Competitive Landscape- Northrop Grumman, Thales Alenia Space, LeoSat, Space Systems Loral, Kepler Communications.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global LEO Satellite Communication Market by Segment
By Type
- 50-500 Kg
- >500 Kg
By Application
- Commercial
- Military
- Others
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