DUBLIN, Nov. 23, 2022 /PRNewswire/ — The “Low Earth Orbit (LEO) Satellites Global Market Report 2022, By Type, Sub-System, Application, End-User” report has been added to ResearchAndMarkets.com’s offering.
The global low earth orbit (LEO) satellites market is expected to grow from $3.50 billion in 2021 to $4.13 billion in 2022 at a compound annual growth rate (CAGR) of 18.2%. 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 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 $9 billion in 2026 at a CAGR of 21.5%.
North America was the largest region in the low earth orbit satellites market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 satellites of field in the 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…
