LEO Satellite Market Business Opportunities, Survey, Growth Analysis And Industry Outlook
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Market Size – USD 3.04 Billion in 2021, Market Growth – at a CAGR of 19.0%, Market Trends – Technological advancements
VANCOUVER, BC, CANADA, January 17, 2023 /EINPresswire.com/ -- The global LEO satellite market size reached 3.04 billion in 2021 and is expected to register a revenue CAGR of 19.0% during the forecast period, according to latest analysis by Emergen Research. Rising trend of space exploration is a primary factor driving revenue growth of the LEO satellite market. Space exploration has initiated the economic development of space that today delivers high returns for invested funds in space. The challenges in space exploration have sparked new technological and scientific knowledge of inherent value to humankind, leading to a better understanding of the Universe and the solar system in which we live. Space exploration has contributed to different aspects of everyday life, from implantable heart monitors to solar panels, from cancer therapy to lightweight materials, and from improved computing systems to water‐purification systems and a global search‐and‐rescue system. Space exploration will continue to be a vital driver for opening up new domains in science and technology, prompting other sectors to partner with the space sector for joint R&D.
The latest report, titled ‘Global LEO Satellite Market,’ comprises a profound analysis of the fundamental parameters contributing to the global LEO Satellite market scenario. The research report provides the reader with an in-depth interpretation of the LEO Satellite market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall LEO Satellite industry. The market intelligence report is a prototype of the 360° overview of the global LEO Satellite industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.
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Competitive Terrain:
The global LEO Satellite industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The Leading Market Contenders Listed In The Report Are:
Northrop Grumman Corporation, OHB SE, Airbus SE, L3 Harris Technologies, Lockheed Martin Corporation, Spacex, Boeing, Sierra Nevada Corporation, Blue Canyon Technology, Thales Group
Some Key Highlights From the Report
Using a variety of data buses, the command and data handling system can send orders and receive data to and from each system. The onboard computer, which controls the LEO satellite's operation, is the command and data handling system. The on-board computer is managed by installed specially programmed software that directs the programs assigned to handle a variety of tasks such as gathering and processing data about all payloads and subsystems, managing the operation of the solar power as well as charging the batteries for the eclipse period, keeping and distributing the satellite time, calculating the satellite position in orbit, and autonomously.
Throughout the forecast period, microsats are expected to grow steadily. Pressure on the financial budget of space agencies has been caused by shifting global politics and an increased emphasis on national security. Microsatellites are being developed as a result of budgetary constraints and advances in microelectronics. For instance, the University of Surrey (U.K.) created several extremely advanced microsatellites that cost around USD 3 million to build. 12 of these microsatellites were launched by Surrey into low Earth orbit. These satellites support numerous space science endeavors as well as satellite communications, in-orbit technological demonstration payloads, and remote sensing. These satellites typically weigh 10 to 100 kilograms each.
Low Earth Orbit (LEO) satellites are made to observe the earth from a low Earth orbit for a variety of purposes, including environmental monitoring, meteorology, map-making, and more. One of the most important and effective technologies used by meteorologists for predicting is satellite imagery. In essence, they serve as the sky's projection cameras. A birds-eye picture of everything occurring at every location on Earth can be interpreted from satellite photographs, especially over oceans where there are significant data gaps. The satellite sensors images provide a very succinct, clear, and accurate representation of how atmospheric changes are occurring, which reassures forecasters about the behavior of the atmosphere.
Over the past few years, the Armies of various countries have experimented with launching their satellite projects into lower earth orbit. These satellites would frontline the tactical units on the ground that they were unaware of by offering direct support from low earth orbit for surveillance, sophisticated navigation & communication, and more. Such small payloads in low earth orbit would be a crucial component of any Army's expanding idea of multi-domain operations, both defensively and offensively. The LEO satellites aid in coordinating actions on land, in the air, on the ocean, and in space.
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Emergen Research has segmented the global LEO satellite market on the basis of subsystem, type, application, end-use, and region:
Subsystem Outlook (Revenue, USD Billion; 2019-2030)
Command & Data Handling
Power Systems
Attitude Determination & Control Subsystem
Others
Type Outlook (Revenue, USD Billion; 2019-2030)
Mini Satellite
Micro Satellite
Nano Satellite
Others
Application Outlook (Revenue, USD Billion; 2019-2030)
Imaging & Earth Observations
Satellite Communications
Science & Explorations
Technology Developments
Space Situational Awareness
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Browse Detailed Research Report @https://www.emergenresearch.com/industry-report/leo-satellite-market
Report Highlights:
Besides offering a vivid depiction of the global LEO Satellite business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global LEO Satellite Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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LEO Satellite Market Size Worth USD 14.57 Billion in 2030
