LEO Satellite Market Share, Size, Trends, Industry Analysis Report, By Satellite Mass (Small Satellites, Medium Satellites, Large Satellites); By Subsystem; By Frequency; By Application; By Region; Segment Forecast, 2024 - 2032

LEO Satellite Market Share, Size, Trends, Industry Analysis Report, By Satellite Mass (Small Satellites, Medium Satellites, Large Satellites); By Subsystem; By Frequency; By Application; By Region; Segment Forecast, 2024 - 2032

The global LEO satellite market size is expected to reach USD 102.90 billion by 2032, according to a new study by Polaris Market Research. The report “LEO Satellite Market Share, Size, Trends, Industry Analysis Report, By Satellite Mass (Small Satellites, Medium Satellites, Large Satellites); By Subsystem; By Frequency; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising adoption of LEO satellites in the market is due to its wide applications in multiple sectors, such as telecommunications, Earth observation, navigation, and remote sensing. The propulsion system is of utmost importance as it directly impacts the performance, efficiency, and operational capabilities of these satellites. Thanks to their low orbital deployment, they provide low latency and are utilized for a wide range of applications, including communication, surveillance, and earth observation. LEO satellites are positioned at a distance ranging from 200 km to 2,000 km above the Earth's surface.

Low-earth orbits are commonly employed for remote sensing, human space exploration, and data transfer. These orbits are conducive for remote sensing satellites, which are instrumental in identifying and classifying objects on Earth through sensor technologies on satellites or aircraft. Remote sensing encompasses the observation of the surface, atmosphere, and oceans, utilizing signals like electromagnetic radiation. The majority of man-made objects orbiting Earth are situated in LEO. Satellites in low-earth orbits have swifter orbital velocities, and shorter orbital periods and are positioned at lower altitudes above the Earth's surface.

In recent years, 5G-Advanced and 6G have seen potential in satellite-based communications, which has led to the emergence of Very-Low-Earth-Orbit (VLEO) at approximately 350 km altitude can revolutionize the Internet landscape. This is due to its significantly lower position compared to the conventional low Earth orbit (LEO). Communication systems relying on mega VLEO constellations offer advantages like minimal transmission delays, reduced propagation losses, increased area coverage, and reduced production and launch costs.

LEO Satellite Market Report Highlights

The small satellites segment dominated the market owing to benefits such as reduced development and launch costs and rapid deployment.

The laser/optical segment is expected to grow at the fastest CAGR due to the rapid increase in the utilization of laser/optical technology for inter-satellite communication.

The commercial segment dominated the market owing to enhancing and expanding their telecommunications infrastructure.

The defense segment is anticipated to grow at the fastest CAGR as it enhances telecommunications services for the military to facilitate digital transformation.

North America led the market and accounted for a majority of market revenue share, owing to the growing need for LEO satellites to improve satellite navigation and communication.

The global key market players include Airbus Defence and Space, Astrocast, China Aerospace Science and Technology Corporation (CASC), German Orbital Systems, L3Harris Technologies, Inc., Lockheed Martin Corporation, etc.

Polaris Market Research has segmented the LEO Satellite market report based on satellite mass, subsystem, frequency, application, and region:

LEO Satellite, Satellite Mass Outlook (Revenue - USD Billion, 2019 - 2032)

Small Satellites

Minisatellites

Microsatellites

Nanosatellites

CubeSats
0.25-5U
1U

2U

3U

6U

>12U

Medium Satellites

Large Satellites

LEO Satellite, Subsystem Outlook (Revenue - USD Billion, 2019 - 2032)

Satellite Buses

Payloads

Solar Panels

Satellite Antennas

Others

LEO Satellite, Frequency Outlook (Revenue - USD Billion, 2019 - 2032)

Laser/Optical

L-band

S-band

C-band

X-band

Ku-band

Ka-band

Q/V-band

HF/VHF/UHF-band

LEO Satellite, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Telecommunication

Earth Observation & Remote Sensing

Scientific Research

Technology

Commercial

Defense

Others

LEO Satellite, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Australia

Malaysia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa