NEW
YORK, July 17, 2024 /PRNewswire/ -- The
global leo satellite market size is estimated to grow by
USD 7.13 billion from 2023-2027,
according to Technavio. The market is estimated to grow at a CAGR
of 15.92% during the forecast period. Rising demand for
earth observation-related applications is driving market
growth, with a trend towards growing satellite-based
telemetry applications. However, stringent government
regulations poses a challenge. Key market players include
Airbus SE, Blue Origin Enterprises LP, GomSpace AS, Honeywell
International Inc., Inmarsat Global Ltd., Israel Aerospace
Industries Ltd., Kepler Communications Inc., L3Harris Technologies
Inc., Lockheed Martin Corp., Maxar Technologies Inc., Northrop
Grumman Systems Corp., OHB SE, OneWeb Holdings Ltd., Raytheon
Technologies Corp., Sierra Nevada Corp., Space Exploration
Technologies Corp., Telesat Corp., Thales, The Boeing Co., and BAE
Systems Plc.
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Leo Satellite Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2022
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2023-2027
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
15.92%
|
Market growth
2023-2027
|
USD 7.13
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
14.67
|
Regional
analysis
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
35%
|
Key
countries
|
US, Canada, China,
Germany, and UK
|
Key companies
profiled
|
Airbus SE, Blue Origin
Enterprises LP, GomSpace AS, Honeywell International Inc., Inmarsat
Global Ltd., Israel Aerospace Industries Ltd., Kepler
Communications Inc., L3Harris Technologies Inc., Lockheed Martin
Corp., Maxar Technologies Inc., Northrop Grumman Systems Corp., OHB
SE, OneWeb Holdings Ltd., Raytheon Technologies Corp., Sierra
Nevada Corp., Space Exploration Technologies Corp., Telesat Corp.,
Thales, The Boeing Co., and BAE Systems Plc
|
Market Driver
The demand for satellite-based telemetry is on the rise due to
the growing need for reliable telemetry infrastructure. This
technology is utilized in various civil, commercial, government,
and military applications. For instance, researchers employ
satellite telemetry to track animals and birds on Earth using
orbiting satellites. By receiving radio signals from transmitters
attached to the targets, researchers obtain updated information on
the target's location with every move. The distance between the
transmitter and the satellite is calculated using the signal,
allowing the target's location on the ground to be determined
geometrically. Sensors added to the transmitter can also provide
data on temperature, depth, and light. Satellite telemetry is
extensively used in defense and military applications. The US
employs it to provide satellite tracking, telemetry, and commands
to its users via ground antennas worldwide. The US Space-Based
Infrared System (SBIRS) reconnaissance satellites offer strategic
ballistic missile warning capabilities, enhanced with dual-band
telemetry and tracking and communication capabilities. The US Air
Force Satellite Control Network, established in 1980, manages the
operations of US Air Force and other Department of Defense
satellites, as well as launch and orbit tracking for spacecraft. In
2020, Kratos Defense and Security Solutions, a national security
solutions provider, was awarded a USD4.9
million contract to modernize the systems and infrastructure
connecting AFSCN facilities, ensuring their operational readiness
for potential conflicts. These factors are anticipated to fuel the
expansion of the global LEO satellite market during the forecast
period.
The Leo Satellite Market is experiencing significant trends in
propulsion systems, with a focus on liquid propulsion systems
offering high thrust and specific impulse capabilities. Liquid
fuels like hydrazine and nitrogen tetroxide are popular choices for
precise orbital maneuvers, providing mission flexibility. Electric
propulsion, such as ion and Hall-effect thrusters, offer fuel
efficiency and extended mission lifetimes. Gas-based propulsion
systems, including cold and warm gas thrusters, use compressed
gases like nitrogen and xenon. These advancements enable high-speed
internet and communication services in LEO satellites, improving
operational efficiency for various applications, including imaging,
connectivity services, communications satellites, military
reconnaissance, and more. The mass properties of satellites are
also crucial, with ballasting and solar panels optimizing fuel
usage during launch. Launch vehicles, such as rockets, play a vital
role in delivering large and medium-sized satellites to LEO orbit,
ensuring efficient fuel usage and minimizing propagation delay from
Earth's surface.
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Market Challenges
- The Leo satellite market faces regulatory challenges due to
various international space laws. The US, with its comprehensive
national space law and regulatory regime, sets a precedent for many
nations. The US is a party to four UN space treaties, including the
Outer Space Treaty, Agreement on the Rescue and Return of
Astronauts, Liability Convention, and Convention on Registration of
Objects Launched into Outer Space. The UK's Space Industry Act 2018
(SIA 2018) is a new regulatory regime that governs UK-based space
activities, such as launches, returns, operation of a satellite in
orbit, operation of a spaceport, and the provision of range control
services. While the SIA 2018 regulates UK activities, the Outer
Space Act 1986 (OSA 1986) continues to regulate launches and
satellite operations from outside the UK. Strict government
regulations under both the SIA 2018 and OSA 1986 may hinder the
growth of the global Leo satellite market.
- The Leo Satellite Market faces several challenges in the areas
of orders and delivery schedules due to the increasing demand for
LEO-based services from various industries, including remote
sensing for Earth observation and communication purposes. The
complexities of LEO constellations, such as GEO, MEO, and LEO,
require international community agreements and policies and
regulations to ensure efficient use of spectrum and minimize
conflicts. Small satellites, like CubeSats and Satellite buses,
offer cost-effective solutions but present unique challenges in
terms of on-orbit activities, RF mapping, and space debris
management. Regulations surrounding satellite type, mass, and
performance are also crucial for the success of LEO satellite
initiatives. The Artemis Program and armed forces rely on LEO
satellites for satellite-enabled communication, navigation, and
low-latency telecommunications. Alternate power-sharing
technologies and satellite antennas are essential for enhancing
satellite efficiency and performance. The satellite industry must
address these challenges to meet the growing demand for LEO
satellites in telecommunications, navigation, scientific
technology, and critical infrastructure sectors.
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Segment Overview
This leo satellite market report extensively covers market
segmentation by
- Type
- 1.1 Small satellite
- 1.2 Medium satellite
- 1.3 Large satellite
- 1.4 Cube satellite
- End-user
- 2.1 Commercial use
- 2.2 Government and military use
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Small satellite- Small Low Earth Orbit
(LEO) satellites, often referred to as nanosatellites, serve
various commercial applications. These include space observation
programs, interplanetary missions, systems testing in orbit, and
biomedical research. Nanosatellites come in different sizes and
costs, with some being small enough to fit in the palm. NASA
defines a nanosat or small satellite as having a mass between 1 and
10 kg. In September 2020, Swarm, a
Californian nano-satellite company, launched its first 12
commercial satellites into LEO, planning to announce prices and
services soon. With the increasing number of internet services and
mobile users, satellites are essential for civilian applications
such as communications, weather, and GPS-enabled navigation. GPS
receivers, offered to civilians, provide accurate time and position
measurements for research, surveying, and aviation. The growing
demand for these services is expected to fuel the growth of the
small satellite segment in the global LEO satellite market.
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analysis including forecast (2023-2027) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global satellite market continues to expand, driven by
increasing demand for telecommunications, broadcasting, and remote
sensing applications. Key players are investing in advanced
satellite technologies to enhance connectivity and coverage
worldwide.
GNSS systems like GPS and Galileo dominate the global navigation
satellite system market, supporting precise positioning, timing,
and navigation across various sectors including aviation,
transportation, and defense. Ongoing advancements in satellite
technology promise improved accuracy and reliability.
The global low-cost satellite market is witnessing rapid growth,
fueled by miniaturization and cost-efficiency in satellite
manufacturing. These satellites are revolutionizing Earth
observation, IoT connectivity, and scientific research by offering
affordable access to space-based services.
Research Analysis
The Leo Satellite Market refers to the growing industry of Low
Earth Orbit (LEO) satellite systems. These satellites offer
versatility in applications such as telecommunications, Earth
observation, navigation, and remote sensing. Technical service
providers play a crucial role in the development and deployment of
these satellites. LEO satellites come in various sizes, including
small CubeSats, medium, and large satellites, each with different
masses and performance capabilities. Advanced mechanics and
propulsion systems enable LEO satellites to provide low-latency
telecommunications and navigation augmentation services. The space
industry continues to invest heavily in this sector due to the
efficiency and accessibility of LEO satellites, making them an
essential component of modern technology infrastructure.
Market Research Overview
The Leo Satellite Market encompasses a range of advanced LEO
satellite systems designed for various applications in the space
industry. These systems are manufactured by technical service
providers using mass production processes and short lifecycles to
meet the demands of investors. LEO satellites offer versatility and
advanced mechanics, providing satellite data for a multitude of
purposes, including remote sensing, scientific technology,
communication, navigation, and Earth observation. Technologies
employed in LEO satellite manufacturing include liquid propulsion
systems, electric propulsion, and gas-based propulsion systems.
Liquid propulsion systems offer high thrust and specific impulse
capabilities, utilizing fuels such as hydrazine and nitrogen
tetroxide for precise orbital maneuvers. Electric propulsion
systems, including Hall-effect thrusters and ion engines, provide
fuel efficiency and extended mission lifetimes. LEO satellite
systems serve various industries, including telecommunications,
navigation, and scientific research. Applications include
satellite-enabled communication for armed forces, critical
infrastructure, and law enforcement agencies, as well as LEO
navigation augmentation and low-latency telecommunications. Small
satellites, such as CubeSats, Medium satellites, and Large
satellites, are manufactured using satellite buses and payloads,
with various satellite antennas and communication systems. The LEO
satellite market is subject to import-export regulations, orders,
and delivery schedules. LEO-based services also face international
community agreements, policies, and regulations, including spectrum
management and space debris mitigation. The Artemis Program and
alternate power-sharing technologies are also significant factors
in the LEO satellite market. In summary, the Leo Satellite Market
is a dynamic and evolving sector of the space industry, driven by
advanced technologies and the growing demand for satellite data and
services. LEO satellites offer versatility, advanced mechanics, and
a range of applications, from scientific research to communication
and navigation, making them a vital component of the space
industry's future.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Small Satellite
- Medium Satellite
- Large Satellite
- Cube Satellite
- End-user
-
- Commercial Use
- Government And Military Use
- Others
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
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trends and provides actionable insights to help businesses identify
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Technavio's comprehensive coverage, extensive research, and
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and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio