In 2019, the International Telecommunications Union (ITU) adopted new regulations for LEO satellites. While satellites in geostationary orbit are aligned with the earth’s rotation at an elevation of 36,000 km, Non-GSO satellites move across the sky during their orbit around the earth, in medium Earth-orbit 8,000 to 20,000 km above the earth and in low-Earth orbit at elevations between 400 and 2000 km. As per this new regulation, these systems will be required to deploy 10% of their constellations within two years from the end of the current period for bringing into use, 50% within five years, and complete the deployment within seven years.
The article cited AMA's "Global LEO Satellite Market Study" explored CAGR of 21.15%. According to the report, Advancement in Space Technology is one of the primary growth factors for the market. Increase in Spending on Satellite in Developing Economies
is also expected to contribute significantly to the LEO Satellite market. Overall, Communication
applications of LEO Satellite, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Frequency Band, such as C Band, is boosting the LEO Satellite market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Satellite Mass, such as <50 Kg, is boosting the LEO Satellite market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMAs Analyst on the Global LEO Satellite market identified that the demand is rising in many different parts of the world as "Emergence of Over-The-Top (OTT) Platform
". Furthermore, some recent industry insights like "In March 2019, Telesat signed multi-year contract with OmniAccess for broadband service on Telesat’s revolutionary, global Low Earth Orbit (LEO) satellite constellation, which is planned to enter commercial operations in 2022." which is constantly making the industry very dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global LEO Satellite market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2023 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the LEO Satellite market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall LEO Satellite market size is calculated using market estimation process, the LEO Satellite market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global LEO Satellite market size has been validated using both top-down and bottom-up approaches.