PUBLISHER: The Business Research Company | PRODUCT CODE: 1672464
PUBLISHER: The Business Research Company | PRODUCT CODE: 1672464
A low Earth orbit satellite refers to an object orbiting the Earth at altitudes lower than geosynchronous satellites, typically ranging from 1000 km to 160 km above the Earth's surface. These satellites find applications in communications, military reconnaissance, espionage, and various imaging tasks.
The main types of low Earth orbit satellites include femto, pico, nano, micro, and mini. Satellites weighing less than 100 grams are categorized as femto satellites. These new satellite types are considered low-cost devices, particularly when utilizing commercial-off-the-shelf (COTS) components. Various subsystems, including payload, structure, telecommunication, onboard computer, power system, attitude control, and propulsion system, are integral to their design. Low Earth orbit satellites are employed in technology development, Earth observation and remote sensing, communication, space exploration, and surveillance. They are implemented across different verticals such as commercial, civil, government, and others.
The low earth orbit (LEO) market research report is one of a series of new reports from The Business Research Company that provides low earth orbit (LEO) market statistics, including low earth orbit (LEO) industry global market size, regional shares, competitors with a low earth orbit (LEO) market share, detailed low earth orbit (LEO) market segments, market trends and opportunities, and any further data you may need to thrive in the low earth orbit (LEO) industry. This low earth orbit (LEO) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The low earth orbit (LEO) satellites market size has grown rapidly in recent years. It will grow from $6.2 billion in 2024 to $7.16 billion in 2025 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to emerging markets growth, rise in investments in low earth orbit (LEO) satellite infrastructure, and increased need for satellite Internet in rural areas.
The low earth orbit (LEO) satellites market size is expected to see rapid growth in the next few years. It will grow to $12.31 billion in 2029 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to the growing investments in the space sector, rising demand for telecommunications, and increasing number of satellite launches. Major trends in the forecast period include the use of artificial intelligence and machine learning for optimizing mission efficiency and reducing operational costs, the launch of advanced low earth orbit satellites to provide global connectivity, the use of 3d printing to reduce satellite and subsystem production costs, advancements in payload systems to offer diverse and sophisticated capabilities and strategic collaborations and partnerships among market players.
The low earth orbit (leo) satellites market is poised for growth in the foreseeable future, driven by the increasing adoption of low-earth orbit satellites across various sectors. These satellites play a crucial role in Earth observation, particularly in fields such as agriculture, contributing to the planet's protection, safety, and longevity. The data gathered from low-earth orbit satellites allows for the observation and measurement of global biological, chemical, and physical elements. As of January 2022, more than 4,852 operational satellites orbit the Earth, with a significant portion, around 2,700, in low earth orbit. An illustrative example is the successful deployment of 34 satellites by OneWeb in February 2022, bringing its total in-orbit constellation to 428 satellites.
The growing adoption of lightweight materials is expected to significantly drive the low Earth orbit (LEO) satellites market during the forecast period. Utilizing lightweight materials effectively enhances energy efficiency and reduces fuel consumption by decreasing the mass of spacecraft, a lighter mass necessitates less lift force and thrust during flight. In addition to lowering the carbon footprint, lightweight designs can lead to improved flight performance, including better acceleration, increased structural strength and stiffness, and enhanced safety features. For instance, in August 2022, the Australian Bureau of Statistics, an Australian government agency, reported that lithium concentrate exports surged to a record $1,163 million in June 2022, reflecting a substantial increase of $1,073 million (1,189%) compared to June 2021. Additionally, the DISCOVERER project, a €5.7 million ($5.5 million) initiative led by The University of Manchester, aims to revolutionize Earth observation satellites by developing technologies that enable them to operate in very low Earth orbits, under 450 km altitude. This approach seeks to create smaller, lighter, and more economical satellites. By orbiting closer to Earth, these satellites can avoid space debris and improve the quality of the images they transmit back.
The launch of advanced low-Earth orbit (LEO) satellites is rapidly gaining traction in the low-Earth orbit satellites market. Major players in this sector are concentrating on satellite launches to enhance global connectivity. For example, in September 2024, Geespace, a China-based satellite technology company, launched 10 LEO satellites from the Taiyuan Satellite Launch Centre. These satellites feature unique attributes that enhance their functionality and efficiency. Operating at altitudes ranging from 300 to 2,000 kilometers, they provide lower latency for real-time communication. Additionally, LEO satellites are typically more cost-effective to launch and maintain compared to traditional geostationary satellites. Their extensive coverage, supported by a network of satellites, ensures continuous service in remote areas, while advancements in technology enable high-speed broadband and mobile connectivity to meet growing demands.
Firms operating in the low Earth orbit (LEO) satellites market are strategically entering partnerships and collaborations to diversify their product portfolios and expand their LEO satellites business. For instance, in March 2022, OneWeb, a UK-based LEO satellite communications company, announced a collaboration with SpaceX, a US-based aerospace company. The joint effort aims to resume and complete the launch of satellite services in India in the coming years. Similarly, in March 2022, Kymeta, a Washington-based company specializing in flat panel antennas, and OneWeb joined forces to establish a distribution partnership agreement. This collaboration is geared towards providing broadband connectivity services globally with the assistance of OneWeb's LEO satellite network. Additionally, in January 2022, OneWeb disclosed a partnership with Hughes Network Systems LLC (Hughes), a US-based high-speed satellite internet company, to deliver LEO connectivity services across India.
In May 2022, Tailwind Acquisition Corp, a publicly traded US-based company, successfully acquired Terran Orbital Corporation for a total of $255.4 million in gross proceeds. This acquisition is anticipated to have a significant technological impact, with expected build rates exceeding 1,000 satellites and space vehicles annually. The move is driven by the escalating data demands from governments and corporations, projecting accelerated growth over the next decade. Terran Orbital Corporation, a leading US-based manufacturer of low-earth orbit satellites, further strengthens the strategic position of Tailwind Acquisition Corp in the evolving satellite industry.
Major companies operating in the low earth orbit (LEO) satellites market include Thales, Northrop Grumman Corporation, Lockheed Martin Corporation, The Boeing Company, Airbus SE (Surrey Satellite Technology Ltd), L3Harris Technologies, Kepler Communications Inc., Blue Canyon Technologies Inc., Blue Origin, SpaceX, One Space Tech, Land Space Technology Corporation Ltd, ExPace Technology Corporation, CASIC, Beijing Commsat Technology Development Co. Ltd, Telstra, Quberider Pty Ltd, Innova Space, Telespazio S.p.A., GomSpace Group AB, EnduroSat, AAC Clyde Space, OneWeb, Speedcast International Limited, Raytheon, Honeywell International Inc., Cessna, Bombardier Inc., Telesat, Amazon, Starlink satellite constellation, Hughes Network Systems, Empresa Argentina de Soluciones Satelitales AR-SAT SA, Embraer, Al Yah Satellite Communications (YAHSAT), Arabsat, Es'hailSat, QSat Communications, Saman Satellite Communications, Thuraya Satellite, DragonFly Aerospace, NETLOXH, ETSE CubeCom, Omarichet, Simera Sense
North America was the largest region in the low earth orbit satellites market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the low earth orbit (LEO) satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the low earth orbit (LEO) satellites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The low earth orbit satellite market consists of sales of low earth orbit satellites such as small and mini-satellites. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Low Earth Orbit (LEO) Satellites Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on low earth orbit (leo) satellites market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for low earth orbit (leo) satellites ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The low earth orbit (leo) satellites market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.