BASINGSTOKE, England--(BUSINESS WIRE)--A new study from Juniper Research, the foremost experts in technology markets, found global investment into VLEO (Very Low Earth Orbit) satellites will reach $220 billion by 2027; growing substantially from $17 billion this year.
VLEO satellites operate at an altitude of approximately 300km; enabling reduced communication latency and higher-resolution imaging.
An extract from the new report, Global VLEO Satellites Market 2024-2030, is now available as a free download.
As part of the study, Juniper Research is excited to announce the launch of the new Future Leaders Index. It scores companies that are either challenging dominant players in established markets, or positioned to become leaders in emerging markets. In assessing these future leaders, the model enables businesses to benefit from critical insights into market shifts and emerging threats, and thus make informed strategic decisions.
The model uses a range of criteria, such as funding and investment, market coverage and the extent of innovation in the leaders’ solutions. The vendors primed for future VLEO success are:
- Thales Alenia Space
- LeoLabs
- Redwire
- Blue Canyon Technologies
- Albedo
Capitalising on $220bn Opportunity
These future leaders must leverage their significant funding and investment to develop software-based VLEO satellite services. The report recommended satellite management software remain adaptable to evolving use cases to capitalise on a market with an anticipated cumulative investment reaching $1 trillion by 2029.
Report author Ben Clark explained: “Future leaders must focus on industries including telecommunications, navigation and environment monitoring, as these are the best long-term monetisation opportunities; owing to the requirement for global connectivity that terrestrial technologies will be unable to provide”.
About the Research
The research suite offers the most comprehensive assessment of the VLEO satellites market to date, including insightful market analysis and in-depth forecasts for 60 countries. The dataset contains over 8,600 market statistics within a six-year period. It also includes a use case analysis and Country Readiness Index to examine current and future market opportunities.
Juniper Research has, for two decades, provided market intelligence and advisory services to the global technology sector, retained by many of the world’s leading innovators and providers.
