DUBLIN--(BUSINESS WIRE)--The "LEO and GEO Satellite Market By Orbit Type, By Application, By End-Use: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the LEO and GEO satellite market was valued at $11.8 billion in 2021, and is estimated to reach $43.9 billion by 2031, growing at a CAGR of 14.3% from 2022 to 2031.
Low Earth Orbit (LEO) satellites are developed to orbit between 200 km to 2,000 km above the Earth's surface. These satellites are required to travel at about 27,000 kph to complete a full circuit of the planet in 90 to 120 minutes.
In addition, LEO satellite is used for various applications such as data communication, remote sensing, and research. GEO satellite networks can provide very high broadband data throughput, with up to 50 Mbps downlink and 5 Mbps uplink. Moreover, weather-monitoring satellites can also use GEO since they can examine specific regions in real time to see how weather patterns develop.
Research organizations have increased the implementation of satellites to monitor and evaluate short- and long-term climate change. For instance, in October 2020, Google and the National Oceanic and Atmospheric Administration (NOAA) partnered with each other to jointly steer machine learning and artificial intelligence-driven pilot projects that will advance the agency's weather forecasting, environmental monitoring, and climate research capabilities.
In August 2021, the Space Development Agency launched an experimental satellite. The Cygnus NG-16 spacecraft carries Prototype Infrared Payload, or PIRPL, designed for testing the use of a multispectral sensor for detection of ballistic missiles from low orbits. L3Harris and SpaceX have been awarded $193 million and $149 million, respectively for development of four satellites equipped with wide field of view, and overhead persistent infrared sensors.
The growth of the global LEO and GEO satellite market is propelling due to increase in adoption of small satellites and increase in demand for LEO-based services. However, rise in concerns over space debris is the factor that hampers the growth of the market. Furthermore, growth in investments by several governments in space technology is the factor expected to offer growth opportunities for the market during the forecast period.
The LEO and GEO satellite market is segmented on the basis of orbit type, application, end-use, and region. By orbit type, it is segmented into Low Earth Orbit (LEO) and Geostationary Earth Orbit (GEO). By application, it is fragmented into telecommunication, earth & space observation, scientific research, navigation, and others. By end-use, it is categorized into commercial, government & military, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the leo and geo satellite market analysis from 2021 to 2031 to identify the prevailing leo and geo satellite market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the leo and geo satellite market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global leo and geo satellite market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Orbit Type
- Low Earth Orbit
- Geostationary Earth Orbit
By Application
- Telecommunication
- Earth space observation
- Scientific research
- Navigation
- Others
By End-Use
- Commercial
- Government Military
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Russia
- Rest Of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Airbus S.A.S.
- The Boeing Company
- Israel Aerospace Industries Ltd.
- Lockheed Martin Corporation
- Mitsubishi Electric Corporation
- INTELSAT S.A.
- Inmarsat plc.
- L3 Harris Corporation
- Thales Group
- Qualcomm Inc
- Topcon Corporation
- Texas Instruments
- Furuno Electric
For more information about this report visit https://www.researchandmarkets.com/r/q8ynt7
