LEO Satellite Market Size Worth $ 102.90 Billion By 2032 | CAGR: 13.4%

LEO Satellite Market Size Worth $ 102.90 Billion By 2032 | CAGR: 13.4%

The global LEO satellite market size is expected to reach USD 102.90 billion by 2032, according to a new study by Polaris Market Research. The report “LEO Satellite Market Share, Size, Trends, Industry Analysis Report, By Satellite Mass (Small Satellites, Medium Satellites, Large Satellites); By Subsystem; By Frequency; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising adoption of LEO satellites in the market is due to its wide applications in multiple sectors, such as telecommunications, Earth observation, navigation, and remote sensing. The propulsion system is of utmost importance as it directly impacts the performance, efficiency, and operational capabilities of these satellites. Thanks to their low orbital deployment, they provide low latency and are utilized for a wide range of applications, including communication, surveillance, and earth observation. LEO satellites are positioned at a distance ranging from 200 km to 2,000 km above the Earth's surface.

Low-earth orbits are commonly employed for remote sensing, human space exploration, and data transfer. These orbits are conducive for remote sensing satellites, which are instrumental in identifying and classifying objects on Earth through sensor technologies on satellites or aircraft. Remote sensing encompasses the observation of the surface, atmosphere, and oceans, utilizing signals like electromagnetic radiation. The majority of man-made objects orbiting Earth are situated in LEO. Satellites in low-earth orbits have swifter orbital velocities, and shorter orbital periods and are positioned at lower altitudes above the Earth's surface.

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In recent years, 5G-Advanced and 6G have seen potential in satellite-based communications, which has led to the emergence of Very-Low-Earth-Orbit (VLEO) at approximately 350 km altitude can revolutionize the Internet landscape. This is due to its significantly lower position compared to the conventional low Earth orbit (LEO). Communication systems relying on mega VLEO constellations offer advantages like minimal transmission delays, reduced propagation losses, increased area coverage, and reduced production and launch costs.

LEO Satellite Market Report Highlights

  • The small satellites segment dominated the market owing to benefits such as reduced development and launch costs and rapid deployment.
  • The laser/optical segment is expected to grow at the fastest CAGR due to the rapid increase in the utilization of laser/optical technology for inter-satellite communication.
  • The commercial segment dominated the market owing to enhancing and expanding their telecommunications infrastructure.
  • The defense segment is anticipated to grow at the fastest CAGR as it enhances telecommunications services for the military to facilitate digital transformation.
  • North America led the market and accounted for a majority of market revenue share, owing to the growing need for LEO satellites to improve satellite navigation and communication.
  • The global key market players include Airbus Defence and Space, Astrocast, China Aerospace Science and Technology Corporation (CASC), German Orbital Systems, L3Harris Technologies, Inc., Lockheed Martin Corporation, etc.

Polaris Market Research has segmented the LEO Satellite market report based on satellite mass, subsystem, frequency, application, and region:

LEO Satellite, Satellite Mass Outlook (Revenue - USD Billion, 2019 - 2032)

  • Small Satellites
    • Minisatellites
    • Microsatellites
    • Nanosatellites
  • CubeSats
    • 0.25-5U
    • 1U
    • 2U
    • 3U
    • 6U
    • >12U
  • Medium Satellites
  • Large Satellites

LEO Satellite, Subsystem Outlook (Revenue - USD Billion, 2019 - 2032)

  • Satellite Buses
  • Payloads
  • Solar Panels
  • Satellite Antennas
  • Others

LEO Satellite, Frequency Outlook (Revenue - USD Billion, 2019 - 2032)

  • Laser/Optical
  • L-band
  • S-band
  • C-band
  • X-band
  • Ku-band
  • Ka-band
  • Q/V-band
  • HF/VHF/UHF-band

LEO Satellite, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Telecommunication
  • Earth Observation & Remote Sensing    
  • Scientific Research
  • Technology
  • Commercial
  • Defense
  • Others

LEO Satellite, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
  • Malaysia
  • Rest of Asia Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

LEO Satellite Market Report Scope

Report Attributes


Market size value in 2024

USD 37.73 billion

Revenue forecast in 2032

USD 102.90 billion


13.4% from 2024 – 2032

Base year


Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2032

Segments covered

By Satellite Mass, By Subsystem, By Frequency, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa


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