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

DUBLIN–(BUSINESS WIRE)–The “LEO Satellite Market by Satellite Type (Small, Cube, Medium, Large Satellite), Application (Communication, Earth Observation and Remote Sensing, Scientific, Technology), Subsystem, End User, Frequency and Region – Forecast up to in 2026″ report has been added to from ResearchAndMarkets.com offer.

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

LEO satellite systems have enormous potential for satellite data service providers, small satellite service providers, remote sensing service providers, technical service providers and investors.

The market is one of the most lucrative verticals in the space industry. Factors such as versatility, low cost, advanced mechanics, ease of assembly and launch, mass production, and short life cycles 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 some of the few major players operating in the LEO satellite market .

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

The resumption of manufacturing activities depends on the level of exposure to COVID-19, the level at which manufacturing operations are taking place, and import-export regulations, among other factors. Although companies can still take orders, delivery schedules may not be fixed.

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

A small satellite is a type of low mass and compact satellite mainly used for remote sensing, earth observation and communication purposes. These satellites generally weigh less than 500 kg. Small satellites are used for in-orbit inspection of large satellites. These are also used as test carriers for newly developed components that need to be installed on a very critical satellite.

However, small satellites are prone to operational challenges which include lack of energy storage and propulsion system, due to their small dimensions. In January 2022, the satellite communications provider, Starlink launched part of the constellation of small satellites in LEO.

Based on applications, communications segment is expected to dominate the LEO satellite market from 2021 to 2026.

LEO satellites are increasingly adopted in modern communication technologies. The introduction of wireless satellite Internet and the development of miniature hardware systems exploit many opportunities in the field of satellite communication.

An increase in R&D activities for communication related missions is expected to deliver enhanced quality communication systems using highly sophisticated miniaturized nano, micro and mini on-board subsystems, coupled with compatible advanced ground station technology with the mission.

According to region, North America is expected to dominate the LEO satellite market from 2021 to 2026.

The United States 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 improve the quality and efficiency of satellite communications.

The growing investment in satellite equipment to improve the defense and surveillance capabilities of the armed forces, the modernization of existing communications in military platforms, critical infrastructures 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 SpaceBEE 0.25U CubeSats. The CubeSat is the world’s smallest two-way communication satellite for IoT.

Competitive landscape

Among the major players operating on the LEO satellite market.

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  • Increased use of Leo satellites for tracking, surveillance and surveillance to drive the market

  • Communication segment is expected to lead during the forecast period

  • The small satellite segment is expected to lead during the forecast period

  • Laser/Optical Segment Expected to Grow at the Highest CAGR Over the Forecast Period

  • The commercial segment is expected to lead during the forecast period

  • Mexico is expected to grow at the highest CAGR over the forecast period

Market dynamics

Drivers

  • Increase in demand for Leo-based services

  • Growing demand for Earth observation imagery and analysis

  • Increase development of satellite networks to provide internet access in areas with no/low broadband connectivity

  • Increase in demand for cubesats

Constraints

  • Government policies

  • Coverage, efficiency and complexity of Leo satellites over geo satellites for the same application

Opportunities

  • Potential applications of space optical communications using laser beams

  • Advances in Electric Propulsion Systems for Leo Satellites

  • Use of software-defined technology for more flexibility in Alter space missions

  • Technological advances in antennas, ground stations and other areas

Challenges

  • Space Debris Concerns

  • Leo Satellite Market Supply Chain Implications

Impact of COVID-19 on the Leo Satellite Market

  • Supply side impact of COVID-19

  • Impact of COVID-19 on demand

  • Range/Scenarios

Leo Satellite Market Value Chain Analysis

  • R&D

  • Raw material

  • OEM (component/product manufacturers)

  • Assemblers & Integrators

  • end users

Trends/disruptions affecting customer operations

  • Shifting Revenues and New Revenue Pockets for Leo Satellite System Manufacturers

Leo Satellite Market Ecosystem

  • Featured companies

  • Private and small businesses

  • Ecosystem

Pricing and regulatory landscape

  • North America

  • Europe

  • United Nations Outer Space Treaty

  • Developers

  • Asia Pacific

  • Middle East and Africa.

Industry trends

Technology Trends

  • High Altitude Platform Station Systems (Haps)

  • Development of satellite constellations to provide communications

  • Using Leo satellites to provide enhanced space images

  • Development of launchers dedicated to Leo satellites

  • Additive manufacturing

  • Advances in Electric Propulsion Systems for Leo Satellites

  • Distributed Power System (EPS) in Small Satellite Applications

  • Distributed Eps hyperspectral and multispectral imagery in small satellite applications

  • Energy storage (primary and secondary batteries) Distributed Eps in small satellite applications

Use case

  • Use case: Small satellites for IoT and communications

  • Use case: Space-based global wireless surveillance systems

  • Use case: measurements of magnetic and electric fields on the 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 technology (Sdr-Cr)

  • Patent analysis

  • Innovations and patent filings, 2020-2021

Company Profiles

  • Lockheed Martin Company

  • Airbus Defense & Space

  • L3Harris Technologies Inc.

  • Northrop Grumman Company

  • Space Exploration Technologies Corp. (Spacex)

  • Sierra Nevada Company

  • Surrey Satellite Technology Ltd (Sstl)

  • Thales Group

  • gomspace

  • Planet Labs Inc.

  • Raytheon Technologies Corporation

  • Ohb Se

  • Maxar Technologies

  • The aerospace company

  • Mitsubishi Electric Corporation

  • Exolaunch GmbH

  • Pumpkin Inc.

  • Balloon Aeronautics & Technologies

  • Dauria Aerospace Ltd.

  • AAC Clyde Space

  • Millennium Space System, Inc.

  • Endurosat

  • Swarm Technologies

  • Nanoavionics

  • Allen Space

  • Near Space Launch, Inc.

  • Spire Global, Inc.

  • Terre-I, Inc.

  • Earth orbital

  • Alba Orbital

  • Satellogic

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

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