LEO satellite market size is set to grow by USD 7,131.09 million from 2022-2027; The rising demand for earth observation-related applications will boost the market- Technavio

NEW YORK, March 27, 2023 /PRNewswire/ -- The global LEO satellite market size is estimated to grow by USD 7,131.09 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 15.92% during the forecast period. The growth of the market depends on several factors, including rising demand for earth observation-related applications, low-cost solution deployment through micro and nanosatellites, and rapid development and deployment of LEO satellites. However, stringent government regulations may impede market growth during the forecast period. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Key factor driving market growth

• The rising demand for earth observation-related applications is notably driving market growth.
• The Earth observation industry is constantly evolving and expects seamless integration of new technologies, acquired modalities, and unconventional data sources.
• Earth observation satellites are equipped with high-definition cameras and advanced remote sensing technology to improve the quality of earth observation images.
• Such high-quality images and associated data are in high demand in various fields such as science, research and development, and defense.
• Such factors are expected to drive market growth over the forecast period.

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Global LEO Satellite Market - Segmentation Assessment Segment Overview
Technavio has segmented the market based on type (small satellite, medium satellite, large satellite, and cube satellite) and end-user (commercial use, government and military use, and others). 

• The market share growth of the small satellite segment is estimated to be significant during the forecast period. Small satellites are also called nanosatellites. Small LEO satellites for commercial applications are used for space observation programs, interplanetary missions, orbital system testing, or biomedical research. It also provides a gateway to developing space programs for countries that have not yet joined the space race. Such factors will increase the segment growth during the forecast period

Geography Overview
By geography, the global LEO satellite market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global LEO satellite market.

• North America is estimated to contribute 35% to the growth of the global market during the forecast period. The use of LEO satellites for military and civilian applications is becoming very common in the region. As a result, many small private technology providers are investing in the development and deployment of satellite-based services. In addition, NASA has initiated several research and development projects and is investing heavily in developing advanced military satellites for communications and surveillance. Such factors will boost the demand for LEO satellites in the region during the forecast period.

Insights on the market contribution of various segments, including country- and region-wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Global LEO Satellite Market – Market Dynamic

Leading trends influencing the market 

• Growing satellite-based telemetry applications is the primary trend in the market.
• Satellite telemetry is used in various civil, commercial, government, and military applications. It is used by researchers to track the movements of animals and birds on Earth.
• Such tracking is performed using orbiting satellites. These satellites receive radio signals from transmitters mounted on targets.
• In this way, researchers receive up-to-date information about the movement of the target location. Such factors will increase the market growth during the forecast period.

Major challenges hindering the market growth

• There are several space laws that are hindering the growth of the LEO satellite market.
• The US has the most robust and detailed national space law and regulatory system that addresses space activities of any country. Many nations have modeled their laws on those of the US.
• In July 2020, the UK Government announced the launch of its public consultation on regulations implementing the Space Industry Act 2018 (SIA 2018).
• Similarly, the SIA 2018 is the legislative framework that will underpin the UK commercial spaceflight program. Space activities of the UK entities are currently governed by the Outer Space Act 1986 (OSA 1986), which requires licenses for an overseas launch of a satellite or operating a satellite in orbit.
• Such stringent government regulations are expected to hinder the growth of the market during the forecast period.

Insights on market drivers, trends, and challenges, historic period (2017 to 2021) and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this LEO Satellite Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the LEO satellite market between 2023 and 2027
• Precise estimation of the LEO satellite market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the LEO satellite market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of LEO satellite market vendors

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Table of Contents 

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global LEO satellite market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global LEO satellite market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 End user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – End user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Small satellite - Market size and forecast 2022-2027
• Exhibit 34: Chart on Small satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Small satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Small satellite - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Small satellite - Year-over-year growth 2022-2027 (%)

• 6.4 Medium satellite - Market size and forecast 2022-2027
• Exhibit 38: Chart on Medium satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Medium satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Medium satellite - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Medium satellite - Year-over-year growth 2022-2027 (%)

• 6.5 Large satellite - Market size and forecast 2022-2027
• Exhibit 42: Chart on Large satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Large satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Large satellite - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Large satellite - Year-over-year growth 2022-2027 (%)

• 6.6 Cube satellite - Market size and forecast 2022-2027
• Exhibit 46: Chart on Cube satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Cube satellite - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Cube satellite - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Cube satellite - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Type 
• Exhibit 50: Market opportunity by Type ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 51: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 52: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 53: Chart on Comparison by End-user
• Exhibit 54: Data Table on Comparison by End-user

• 7.3 Commercial use - Market size and forecast 2022-2027
• Exhibit 55: Chart on Commercial use - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Commercial use - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Commercial use - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Commercial use - Year-over-year growth 2022-2027 (%)

• 7.4 Government and military use - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Government and military use - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Government and military use - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Government and military use - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Government and military use - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 67: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers 

• 9.2 Market challenges 

• 9.3 Impact of drivers and challenges 
• Exhibit 69: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends 

10 Vendor Landscape

• 10.1 Overview 

• 10.2 Vendor landscape 
• Exhibit 70: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 71: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 72: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 73: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 74: Matrix on vendor position and classification

• 11.3 Airbus SE 
• Exhibit 75: Airbus SE - Overview
• Exhibit 76: Airbus SE - Business segments
• Exhibit 77: Airbus SE - Key news
• Exhibit 78: Airbus SE - Key offerings
• Exhibit 79: Airbus SE - Segment focus

• 11.4 GomSpace AS 
• Exhibit 80: GomSpace AS - Overview
• Exhibit 81: GomSpace AS - Product / Service
• Exhibit 82: GomSpace AS - Key offerings

• 11.5 Honeywell International Inc. 
• Exhibit 83: Honeywell International Inc. - Overview
• Exhibit 84: Honeywell International Inc. - Business segments
• Exhibit 85: Honeywell International Inc. - Key news
• Exhibit 86: Honeywell International Inc. - Key offerings
• Exhibit 87: Honeywell International Inc. - Segment focus

• 11.6 Kepler Communications Inc. 
• Exhibit 88: Kepler Communications Inc. - Overview
• Exhibit 89: Kepler Communications Inc. - Product / Service
• Exhibit 90: Kepler Communications Inc. - Key offerings

• 11.7 L3Harris Technologies Inc. 
• Exhibit 91: L3Harris Technologies Inc. - Overview
• Exhibit 92: L3Harris Technologies Inc. - Business segments
• Exhibit 93: L3Harris Technologies Inc. - Key news
• Exhibit 94: L3Harris Technologies Inc. - Key offerings
• Exhibit 95: L3Harris Technologies Inc. - Segment focus

• 11.8 Lockheed Martin Corp. 
• Exhibit 96: Lockheed Martin Corp. - Overview
• Exhibit 97: Lockheed Martin Corp. - Business segments
• Exhibit 98: Lockheed Martin Corp. - Key news
• Exhibit 99: Lockheed Martin Corp. - Key offerings
• Exhibit 100: Lockheed Martin Corp. - Segment focus

• 11.9 Maxar Technologies Inc. 
• Exhibit 101: Maxar Technologies Inc. - Overview
• Exhibit 102: Maxar Technologies Inc. - Business segments
• Exhibit 103: Maxar Technologies Inc. - Key offerings
• Exhibit 104: Maxar Technologies Inc. - Segment focus

• 11.10 Northrop Grumman Systems Corp. 
• Exhibit 105: Northrop Grumman Systems Corp. - Overview
• Exhibit 106: Northrop Grumman Systems Corp. - Business segments
• Exhibit 107: Northrop Grumman Systems Corp. - Key news
• Exhibit 108: Northrop Grumman Systems Corp. - Key offerings
• Exhibit 109: Northrop Grumman Systems Corp. - Segment focus

• 11.11 OHB SE 
• Exhibit 110: OHB SE - Overview
• Exhibit 111: OHB SE - Business segments
• Exhibit 112: OHB SE - Key offerings
• Exhibit 113: OHB SE - Segment focus

• 11.12 OneWeb Holdings Ltd. 
• Exhibit 114: OneWeb Holdings Ltd. - Overview
• Exhibit 115: OneWeb Holdings Ltd. - Product / Service
• Exhibit 116: OneWeb Holdings Ltd. - Key news
• Exhibit 117: OneWeb Holdings Ltd. - Key offerings

• 11.13 Raytheon Technologies Corp. 
• Exhibit 118: Raytheon Technologies Corp. - Overview
• Exhibit 119: Raytheon Technologies Corp. - Business segments
• Exhibit 120: Raytheon Technologies Corp. - Key news
• Exhibit 121: Raytheon Technologies Corp. - Key offerings
• Exhibit 122: Raytheon Technologies Corp. - Segment focus

• 11.14 Sierra Nevada Corp. 
• Exhibit 123: Sierra Nevada Corp. - Overview
• Exhibit 124: Sierra Nevada Corp. - Product / Service
• Exhibit 125: Sierra Nevada Corp. - Key offerings

• 11.15 Space Exploration Technologies Corp.
• Exhibit 126: Space Exploration Technologies Corp. - Overview
• Exhibit 127: Space Exploration Technologies Corp. - Product / Service
• Exhibit 128: Space Exploration Technologies Corp. - Key offerings

• 11.16 Thales 
• Exhibit 129: Thales - Overview
• Exhibit 130: Thales - Business segments
• Exhibit 131: Thales - Key offerings
• Exhibit 132: Thales - Segment focus

• 11.17 The Boeing Co. 
• Exhibit 133: The Boeing Co. - Overview
• Exhibit 134: The Boeing Co. - Business segments
• Exhibit 135: The Boeing Co. - Key news
• Exhibit 136: The Boeing Co. - Key offerings
• Exhibit 137: The Boeing Co. - Segment focus

12 Appendix

• 12.1 Scope of the report 

• 12.2 Inclusions and exclusions checklist
• Exhibit 138: Inclusions checklist
• Exhibit 139: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 140: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 141: Research methodology
• Exhibit 142: Validation techniques employed for market sizing
• Exhibit 143: Information sources

• 12.5 List of abbreviations 
• Exhibit 144: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

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