The global LEO satellites market is anticipated to grow at a significant CAGR of 14.1% during the forecast period. One of the key factors that are boosting the market is the rising commercial applications of a satellite. Factors such as the growing connectivity of electronic devices, the miniaturization of satellites, and the increasing demand for LEO satellite constellations across industries are contributing to the growth of the market.?For instance, in February 2022, SpaceX launched forty-nine Starlink satellites in Florida from NASA’s Kennedy Space Center (KSC). These satellites are expected to expand the existing constellation of more than 1700 LEO satellites to offer faster satellite internet.
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The COVID-19 pandemic had a significant impact on the financial investments of countries across the globe. It also restricted the manufacturing of subsystems, satellites, and components owing to the lockdown across the globe which dented the supply chain, material availability, transportation, and limited workforce. Although satellite systems are critically important the disruptions delays the scheduled launches. However, as the situation got normalized, the market boosted with multiple satellite launches.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Low Earth Orbit (LEO) Satellites Market by Satellite type
- Small satellite
- Medium satellite
- Large satellite
Global Low Earth Orbit (LEO) Satellites Market by Application
- Communication
- Earth Observation and Remote Sensing
- Other (Scientific, and Technology)
Global Low Earth Orbit (LEO) Satellites Market by End-User
- Civil and Commercial
- Military
Regional Analysis
- 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
Company Profiles
- Blue Origin Enterprises, L.P.
- GomSpace Group AB
- Honeywell International Inc.
- L3Harris Technologies, Inc.
- Lockheed Martin Corp.
- Millennium Space Systems Inc. (The Boeing Co.)
- Sierra Nevada Corp.
- Singapore Technologies Engineering Ltd.
- Spire Global, Inc.
- THALES Group
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 global 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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