The Low Earth Orbit (LEO) Satellites market is anticipated to grow at a significant CAGR of 14.1% during the forecast period. One of the things that have been immensely affected by LEO satellites is the availability of wireless high-speed internet. LEO satellites are highly capable of providing high-speed wireless internet without requiring internet towers, this has resolved the 5G issue which also provides high-speed internet but requires many towers. It has drawn a lot of attention when the results came after Starlink launched a satellite internet service. For instance, in January 2022, Starlink recorded more than 145,000 users across 25 countries, globally. The company has around 1,800 satellites in orbit. The company started its services in October 2020. Such success has driven huge competition among the internet service providers (ISPs) which indicates the future potential of the market. For instance, in February 2022, Reliance Group’s Jio announced its shift to offer satellite broadband connectivity. Jio did a joint venture with Luxembourg-based SES for delivering affordable broadband services leveraging satellite technology in India.
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The military segment is anticipated to hold a prominent share in the market during the forecast period owing to the multiple applications of LEO satellites in defense. The perception of using hundreds of small satellites across LEO for the military to perform missile warning, communications, and other military missions has been discussed and dismissed for years owing to the immense launch cost projections. However, with the rapid technological advancement over the past few years with rising defense budgets in nations across the globe, the military sector is now considering launching satellites in LEO. Countries such as the US, the UK, India, South Korea, Russia, France, Japan, and China are all expressively investing in military satellites importantly on LEO for several applications. For instance, in April 2020, Darpa partnered with Lockheed Martin for the 1st stage of satellite integration for project blackjack, a military low earth orbit (LEO) satellite constellation. Lockheed Martin managed interfacing between Blackjack’s payload, bus, and Pit Boss in the build-up to the launch of a demonstration constellation in 2021-22.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Low Earth Orbit (LEO) Satellites Market Report Segment
By Satellite Type
- Small satellite
- Medium satellite
- Large satellite
By Application
- Communication
- Earth Observation and Remote Sensing
- Other (Scientific, and Technology)
By End-User
- Civil and Commercial
- Military
Low Earth Orbit (LEO) Satellites Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the Low Earth Orbit (LEO) Satellites market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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