Exploring the Dynamics of the LEO Satellite Industry (2024-2029)

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Exploring the Dynamics of the LEO Satellite
Industry (2024-2029)
The LEO Satellite Market is projected to grow
from USD 12.6 billion in 2024 to USD 23.2 Billion
by 2029, at a CAGR of 13.0 from 2024 to 2029.
The study of the LEO satellite market from 2020
to 2029 is included in the report.
It covers market-wide industrial and
technological trends as well as the factors that
are driving, restricting, posing challenges, and
providing opportunities in the market. Key
Market Players The major players in the LEO
satellite companies are SpaceX (US), Airbus
Defence and Space (Germany), Lockheed Martin
Corporation (US), Northrop Grumman Corporation
(US), and L3Harris Technologies, Inc. (US).
These players have adopted various growth
strategies such as contracts, joint ventures,
partnerships agreements, acquisitions, and
new product launches to further expand their
presence in the LEO satellite market. Download
PDF Brochure _at_ https//www.marketsandmarkets.com/p
dfdownloadNew.asp?id252330251 In terms of
satellite mass classification, the LEO satellite
market is divided into small satellites, medium
satellites, CubeSats, and large satellites. The
small satellite category is further
subcategorized into minisatellites,
microsatellites, nanosatellites. In 2023, the
small satellite segment dominates the market
share, primarily because rise in commercial
players in the 1 to 50 kg satellite market and
the eruption of start- up activities. When
considering sub-systems, the LEO satellite market
is categorized into satellite buses, payloads,
solar panels, satellite antennas, and others. The
satellite bus segment dominates the market
throughout the study period as it is a crucial
part of satellites. The bus keeps all parts of
the satellite together and provides power,
propulsion, and control. The satellite bus has
been further segmented into attitude orbital
control systems, command data handling systems
(CDH), electrical power systems, propulsion,
telemetry, tracking and command (TTC),
structures, and thermal systems.
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The market has been categorized based on
application into five segments communication,
earth observation remote sensing, scientific
research, technology, and other. Among
this communication application has large share
in the base year due to the technological
advancements in miniature communication
systems and the increase integration
of advanced optical/laser communication
technology payloads for improved military and
commercial communication. The LEO satellite
market has been segmented into three end use
commercial, government defense, and dual use.
Among these, the commercial segment is estimated
to dominate the market throughout the forecast
period due to the growing applications of LEO
satellites, especially for satellite
communication purposes. For example, in 2021,
SpaceX launched its internet satellite mega
constellation Starlink into LEO, which provides
satellite internet access to most of the
Earth. In terms of frequency, power source, the
LEO satellite market is divided into nine
categories Ku-band, Ka-band, X-band, C-band,
L-band, S-band, laser/optical, HF/VHF/UHF-band,
and Q/V-band. The Ku-band frequency spectrum is
used for satellite communications. This band,
primarily used for mapping, has a short-range
and high-resolution imaging capability. The
Ku-band is mainly used for satellite
communications, especially downlink, used by
direct-transmission satellites for satellite
television and specific applications, such as
NASAs Tracking Data Relay Satellite, used for
both the space shuttle and communications from
the International Space Station
(ISS). Throughout the forecast period, the Asia
Pacific LEO satellite market is anticipated to
develop at the fastest rate. Asia Pacific
countries have been extremely focused on
developing advanced technologies for laser- and
optics-based satellites. Earth observation and
scientific data gathered by nanosatellites and
microsatellites support the decision-making
process related to climate monitoring and
agricultural planning, along with providing
inputs related to soil protection in terrestrial
and maritime areas and carrying out border
surveillance. The growing demand for digital TV
and direct-to-home (DTH) entertainment services
in Asia Pacific leads to an increasing number of
LEO satellites being launched for communication
in the region. Ask for Sample Report _at_
https//www.marketsandmarkets.com/requestsampleNew
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