Very strong growth expected in the low earth orbit (LEO) satellite market between 2021-2031

The LEO satellite market is showing strong growth between now (2022) and 2031. Revenues are expected to grow from $4.14 Bn in 2021, to $16.46 Bn by 2031.

Growth is being driven by the convergence of several diverse factors and drivers:

• Advances in aerospace technology – satellite miniaturization, launch capabilities and facilities.
• Computer technology advances – software, AI and robotics.
• Increasing adoption of LEO satellite technology by governments, commercial interests and industrial sectors.

North America and Asia Pacific are competing for dominance in the market in 2022 (34% and 31% respectively). Asia-Pacific is expected to come out the overall winner by 2031, with 38% of the market, while North America will drop to 31%. Western Europe will retain its third position at 20% market share; the other regions are a distant fourth.

The USA is the dominant country in the market, followed by China, then the UK. The UK showed the fastest growth between 2011-2019.

The low earth orbit (LEO) satellites market consists of sales of low earth orbit satellites by entities (organizations, sole traders, and partnerships) that manufacture low earth orbit satellites. A low earth orbit satellite is an object that orbits the earth at lower altitudes than geosynchronous satellites, also known as small satellites. These satellites orbits around the earth with an altitude above Earth’s surface between 250 kilometers and 2,000 kilometers. They are used to transfer data, images, and photographs to selected ground stations, positioned in strategic locations.

Five main types of LEO satellites are deployed:

• Femto – also known as small satellite, miniaturized satellite, or smallsat. They have a low mass and size, usually under 100 gm. They are low-cost devices that use commercial-off-the-shelf (COTS) components.

  Application: Useful when launched in large numbers for gathering scientific data and for radio relay.

• Pico – also known as picosats. They have a mass between 0.1 and 1 kg.

  Application: Used to carry various payloads such as image sensors, Automatic Identification Systems (AIS), and communications.

• Nano – weighing between 1-10 kgs. A small satellite platform, with very high-density technology, that uses reliable design.

  Application: Interplanetary missions, remote sensing, or communications.

• Micro – also known as microsatellite or microsat. They are small artificial satellites, with a mass between 10 and 100 kg. They have a reduced manufacturing and launch cost.

  Application: Gathering scientific data, advancing scientific and human exploration, and radio relay.

• Mini – a mass between 100 and 500 kg.

  Application: Technology development, earth observation and remote sensing, communication, space exploration and surveillance.

The Micro segment has the largest market share in the sector, with 27% in 2021, followed closely by Nano Satellites at 23%, Mini at 21%, Pico at 17% and Femto at 12%. Femto Satellites will see the largest relative growth by 2031, with 13.6% of the market, otherwise relative shares should remain close to what they were in 2021.

Major players in the satellites market are Intelsat, SES S.A., Lockheed Martin Corporation, Airbus S.A.S., Millennium Space Systems Inc., Eutelsat Communications S.A., Boeing, Thales Group, Orbital Sciences Corporation, Planet Labs Inc., AAC Clyde Space, Adcole Maryland Aerospace LLC, Alen Space, Blacksky, Blue Canyon Technologies(BCT), Endursat, Exolaunch GmbH, G.A.U.S.S. Srl, Geooptics Inc, Gomspace, L3Harris Technologies Inc., Nanoavionics, Nanoracks, Viasat Inc., Telesat, EchoStar Corporation, L3 Technologies Inc., Thuraya Telecommunications Company, SKY Perfect JSAT Group, Gilat Satellite Networks and Cobham Limited.

As per data on the Global Market Model, the low earth orbit (LEO) satellites Market Report is one of a series of new reports from The Business Research Company that provides LEO market overviews, analyzes and forecasts LEO market size, share, LEO market players, LEO market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares. EIN Newswires