Low Earth Orbit (LEO) Satellites Global Market Report 2020-30: COVID-19 Growth And Change
Major players in the low earth orbit satellites (LEO) market are Northrop Grumman, Kepler Communications, SpaceX, Boeing, Lockheed Martin, Thales Alenia Space, Airbus Defence and Space, SSL, Globalstar, and BAE System.
New York, Aug. 26, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Low Earth Orbit (LEO) Satellites Global Market Report 2020-30: COVID-19 Growth And Change” – https://www.reportlinker.com/p06130525/?utm_source=GNW
The global low earth orbit (LEO) satellites market is expected to grow from $2.18 billion in 2020 to $2.34 billion in 2021 at a compound annual growth rate (CAGR) of 7.3%. The growth is mainly due to the increasing adoption of low earth orbit satellites in various sectors, rising importance across communications and defense industries, increasing awareness regarding new forms of technology, integration of IoT, machine learning, rapid advancements in the aerospace, robust government support, increasing preferences towards software defined payloads for communication satellites, miniaturization of satellite, and growing advancements in payload systems. The market is expected to reach $4.36 billion in 2025 at a CAGR of 16.9%.
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.
It is normally between 1000 km and 160 km above the earth. They are commonly used for communications, military reconnaissance, spying, and other imaging applications.
The main types of low earth orbit satellites are femto, pico, nano, micro, and mini.Satellites with a mass of less than 100 grams are known as femto satellites.
By concept, these new types of satellites are low-cost devices if they use commercial-off-the-shelf (COTS) components. The pico satellite satellites have a wet mass between 0.1 and 1 kg. They are used to carryout various payloads such as imagery sensors, Automatic Identification Systems (AIS) and communications. Nano satellites are artificial satellites having weighing mass between 1 and 10 kg. These satellites are used for interplanetary missions, remote sensing or communications. Satellites with a mass weighing from 10 and 100 kg are known as micro satellite. These are used for gathering scientific data, advance scientific and human exploration and radio relay. A mini satellite has a weighing mass usually under 500 kg. The different sub-systems include payload, structure, telecommunication, on-board computer, power system, attitude control, propulsion system and is used in technology development, earth observation and remote sensing, communication, space exploration, surveillance. It is implemented in various verticals such as commercial, civil, government, and others.
North America was the largest region in the low earth orbit satellites market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The launch of advanced low earth orbit satellites is gaining significant popularity in the low earth orbit satellites market.Major players operating in the low earth orbit satellite sector are focusing on satellite launches to provide global connectivity.
For instance, in April 2021, OneWeb, a UK-based low earth orbit satellite communications operator launched 32 LEO satellites from Vostochny cosmodrome in Russia.With the recent launch, OneWeb now has a total of 182 satellites in orbit.
These would be part of OneWeb’s 648 LEO satellite constellation, which will provide worldwide connectivity at fast speeds and with low latency.Further, in November 2020, Mitsubishi Heavy Industries (MHI), a Japan based engineering company, launched an advanced relay satellite with laser communications tech into orbit.
The satellite payload, called Laser Utilizing Communication System (LUCAS), will send data from satellites in low Earth orbit using laser technology.
In November 2020, the UK government and Bharti Global, the company which has been working to provide satellite internet globally with a constellation of up to 648 satellites acquired OneWeb and for a deal amount of $565.50 million (£400million) to gain a 45% stake each in the firm. The acquisition was considered as a method to keep the UK’s space sector afloat after British companies were blocked out of the EU’s Galileo satellite navigation program owing to Brexit. OneWeb is a UK-based satellite internet company.
The increasing adoption of low earth orbit satellites in various sectors is expected to increase the growth of the low earth orbit (LEO) satellites market growth in the forecast period.Low earth orbit satellites serve an important role in earth observation for satellite in the field of farming and are one of the most important enablers of the planet’s protection, safety, and longevity.
Earth observation is a way of observing and measuring biological, chemical, and physical factors on a global scale using data from low earth orbit satellites. According to the United Nations, the world population is expected to reach 9.7 billion by 2050, resulting in a 69% increase in overall agricultural production between 2010 and 2050. For instance, in November 2020, Indian Space Research Organisation (ISRO) announced the launch an earth observation satellite for agriculture, forestry, disaster management support. Companies such as Planet and Satellogic are developing smart farming solutions by launching small and nanosatellites. Thus, the rising adoption of low earth orbit satellites in agriculture will enhance the growth of the low earth orbit satellites market.
The countries covered in the low earth orbit satellites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06130525/?utm_source=GNW
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