LEO Satellite (Small, Cube, Medium, Large Satellites) Markets - Global Forecast to 2026 - ResearchAndMarkets.com

The "LEO Satellite Market by Satellite Type (Small, Cube, Medium, Large satellites), Application (Communication, Earth Observation & Remote Sensing, Scientific, Technology), Subsystem, End User, Frequency, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The LEO satellite market is projected to grow from USD 9.6 billion in 2021 to USD 19.8 billion by 2026, at a CAGR of 15.5 %

LEO satellite systems hold a huge potential for satellite data service providers, small sat service providers, remote sensing service providers, technical service providers, and investors.

The market is one of the most lucrative verticals of the space industry. Factors such as versatility, low cost, advanced mechanics, ease of assembly and launch, mass production, and short lifecycles have driven investments in the LEO satellite market. The amount of satellite data and the range of applications for that data will continue to grow in the future as new technologies develop and more satellites come online.

Major manufacturers in this market are based in North America and Europe. L3Harris Technologies (US), Honeywell International Inc.(US), Airbus (Germany), SpaceX (US), Northrop Grumman (US) are among a few leading players operating in the LEO satellite market.

The COVID-19 pandemic has caused significant damage to the economic activities of countries across the world. The manufacturing of LEO satellite systems, subsystems, and components has also been impacted. Although satellite systems are critically important, disruptions in the supply chain have halted their manufacturing processes for the time being.

Resuming manufacturing activities depends on the level of COVID-19 exposure, the level at which manufacturing operations are running, and import-export regulations, among other factors. While companies may still be taking in orders, delivery schedules may not be fixed.

Based on satellite type, the small satellite segment is expected to lead the LEO satellite market from 2021 to 2026.

A small satellite is a type of low mass and compact satellite primarily employed for remote sensing, Earth observation, and communication purposes. These satellites usually weigh less than 500 kg. Small satellites are used for in-orbit inspection purposes of larger satellites. These are also used as test carriers for newly developed components that are to be installed on a much critical satellite.

However, small satellites are prone to operational challenges that include lack of power storage and propulsion system, owing to their small dimensions. In January 2022, satellite communications provider, Starlink launched a part of constellation of small satellites in LEO.

Based on application, the communication segment is expected to lead the LEO satellite market from 2021 to 2026.

LEO satellites are increasingly being adopted in modern communication technologies. The introduction of wireless satellite internet and development of miniature hardware systems are exploiting numerous opportunities in the field of satellite-enabled communication.

A rise in R&D activities for communication-related missions is expected to offer enhanced quality communication systems with the help of highly sophisticated miniaturized onboard nano, micro, and mini subsystems, coupled with advanced mission-compatible ground-station technology.

Based on region, North America is expected to lead the LEO satellite market from 2021 to 2026.

The US is a lucrative market for LEO satellite systems in the North American region. The US government is increasingly investing in advanced LEO satellite technologies to enhance the quality and effectiveness of satellite communication.

The increasing investment on satellite equipment to enhance defense and surveillance capabilities of the armed forces, modernization of existing communication in military platforms, critical infrastructure and law enforcement agencies using satellite systems, are key factors expected to drive the LEO satellite market in North America.

In 2021, Swarm Technologies launched 28, 0.25U CubeSat SpaceBEE. The CubeSat is the world's smallest two-way communications satellites for IoT.

Competitive Landscape

L3 Harris Technologies (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Airbus Defense and Space (Netherlands), and SpaceX (US) are some of the leading players operating in the LEO satellite market.

Premium Insights

• Increased Use of Leo Satellites for Tracking, Monitoring, and Surveillance to Drive the Market
• Communication Segment Projected to Lead During Forecast Period
• Small Satellite Segment Projected to Lead During Forecast Period
• Laser/Optical Segment Projected to Grow at Highest CAGR During Forecast Period
• Commercial Segment Projected to Lead During Forecast Period
• Mexico Projected to Grow at Highest CAGR During Forecast Period

Market Dynamics

Drivers

• Increase in Demand for Leo-Based Services
• Rising Demand for Earth Observation Imagery and Analytics
• Increasing Developments of Satellite Networks to Provide Internet Access in Areas Without/Low Broadband Connectivity
• Increasing Demand for Cubesats

Restraints

• Government Policies
• Coverage, Efficiency, and Complexity of Leo Satellites Over Geo Satellites for Same Application

Opportunities

• Potential Applications of Space Optical Communications Using Laser Beams
• Advancements in Electric Propulsion Systems for Leo Satellites
• Use of Software-Defined Technology for Flexibility in Alter Space Missions
• Technological Advancements in Antennas, Ground Stations, and Other Areas

Challenges

• Concerns Over Space Debris
• Implications in Supply Chain of Leo Satellite Market

COVID-19 Impact on Leo Satellite Market

• Supply-Side Impact of COVID-19
• Demand-Side Impact of COVID-19
• Range/Scenarios

Value Chain Analysis of Leo Satellite Market

• R&D
• Raw Material
• OEM (Component/Product Manufacturers)
• Assemblers & Integrators
• End-users

Trends/Disruptions Impacting Customer Business

• Revenue Shift and New Revenue Pockets for Leo Satellite System Manufacturers

Leo Satellite Market Ecosystem

• Prominent Companies
• Private and Small Enterprises
• Ecosystem

Tariff and Regulatory Landscape

• North America
• Europe
• Un Outer Space Treaty
• Developers
• Asia-Pacific
• Middle East and Africa.

Industry Trends

Technology Trends

• High Altitude Platform Station (Haps) Systems
• Development of Satellite Constellations to Provide Communications
• Use of Leo Satellites to Provide Enhanced Space Imagery
• Development of Dedicated Launch Vehicles for Leo Satellites
• Additive Manufacturing
• Advancements in Electric Propulsion Systems for Leo Satellites
• Distributed Electric Power System (Eps) in Small Satellite Applications
• Hyperspectral and Multi-Spectral Imaging Distributed Eps in Small Satellite Applications
• Energy Storage (Primary & Secondary Batteries) Distributed Eps in Small Satellite Applications

Use Cases

• Use Case: Small Satellites for IoT and Communications
• Use Case: Space-Based Global Wireless Monitoring Systems
• Use Case: Measurements of Magnetic and Electric Fields on Earth's Ionosphere
• Use Case: Real-Time Data to Emergency System
• Use Case: Satellite Radiation Hardness Test

Impact of Megatrends

• Hybrid Beamforming Methods
• Cognitive Radio (Sdr-Cr) Technology
• Patent Analysis
• Innovations & Patent Registrations, 2020-2021

Company Profiles

• Lockheed Martin Corporation
• Airbus Defense & Space
• L3Harris Technologies Inc.
• Northrop Grumman Corporation
• Space Exploration Technologies Corp. (Spacex)
• Sierra Nevada Corporation
• Surrey Satellite Technology Ltd (Sstl)
• Thales Group
• Gomspace
• Planet Labs Inc
• Raytheon Technologies Corporation
• Ohb Se
• Maxar Technologies
• The Aerospace Corporation
• Mitsubishi Electric Corporation
• Exolaunch GmbH
• Pumpkin Inc.
• Ball Aerospace & Technologies
• Dauria Aerospace Ltd.
• Aac Clyde Space
• Millennium Space System, Inc
• Endurosat
• Swarm Technologies
• Nanoavionics
• Alen Space
• Nearspace Launch, Inc.
• Spire Global, Inc.
• Earth-I, Inc.
• Terran Orbital
• Alba Orbital
• Satellogic

For more information about this report visit https://www.researchandmarkets.com/r/h9s834

View source version on businesswire.com: https://www.businesswire.com/news/home/20220422005302/en/