The global LEO Satellite Internet Speed Test market size was USD 9.12 Billion in 2021 and is expected to register a revenue CAGR of 15.2% over the forecast period, according to the latest report by Reports and Data. Rising demand for analytics and imagery from earth observation is the key factor driving revenue growth of the market.
LEO Satellite Internet Speed Tests are crucial to human space activities, and in the recent years, demand for LEO satellites for commercial purposes has grown significantly. Earth Observation Satellites (EOSs) include majority of LEO satellites, which are used for various commercial purposes, including creation of maps, evaluation of crop development, and monitoring of natural disasters. Various initiatives are currently being developed to use LEO satellites to provide dependable and inexpensive internet connectivity to unserved and underserved populations. Some of the well-known initiatives include telesat, project Kuiper, and Starlink. Telesat's LEO network is made up of around 300 satellites that can connect on-ground data networks. Project Kuiper is an initiative by Amazon to construct a LEO satellite constellation comprising 3,236 satellites. While, Starlink is a satellite internet constellation operated by SpaceX, a U.S based spacecraft engineering company.
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Some Key Highlights From the Report
- On 28 February 2022, The Space Development Agency (SDA) signed a prototype contract with Lockheed Martin, a U.S. based aerospace company for development and production of 42 small satellites, with a potential value of almost USD 700 million. These satellites are a part of Tranche 1, the agency's Transport Layer's initial warfighting capabilities, which will link Earth's other domains with space in a highly capable, networked environment known as Joint All-Domain Operations.
- The Ka-band segment is expected to register a rapid revenue growth over the forecast period due to increased demand for ka-band owing to its potential to offer high-speed broadband services. For instance, Telesat, the Ka-band constellation of international satellite operator consists of at least 117 spacecraft spread across two sets of orbits.
- The communication navigation segment is expected to register a steady revenue growth rate during the forecast period due to development of High Throughput Satellites (HTS) and widespread usage of flexible payloads in the telecommunications industry. New and more lucrative opportunities are expected to keep emerging in the market as a result of research activities, developments, and increased investments in navigation systems.
- The North America market accounted for largest revenue share in the global LEO satellite market. This is due to its large consumer base for technologically advanced products, high investments in this technology, well-established research facilities, and strong network infrastructure in mission-critical applications across this region, particularly in the U.S. and Canada. In 2021, FCC authorized SpaceX, which is a U.S.-based satellite communications company, the permission to launch 2,824 satellites in a lower orbit to bring high-speed broadband internet to individuals who do not currently have access to it.
Top 10 Companies Operating in the Global LEO Satellite Internet Speed Test Market:
Honeywell International Inc., Lockheed Martin Corporation, Airbus, L3Harris Technologies, SPACEX, Telesat, Northrop Grumman Corporation, Boeing, Thales Group, Kepler Communications Inc., and Globalstar.
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The global market is further segmented into type and application:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Small Satellite
- Medium Satellite
- Large Satellite
- Cube Satellite
Frequency Outlook (Revenue, USD Billion; 2019-2030)
- L- Band
- S-Band
- X-Band
- C-Band
- Ka-Band
- Ku-Band
- Others
Sub-System Outlook (Revenue, USD Billion; 2019-2030)
- Payload
- Earth Observation
- Communication
- Navigation
- Others
- Telecommunication
- Antenna
- Transponder
- Others
- Power System
- Solar Cell
- Batteries
- Others
- Propulsion System
- Thrusters
- Propellant Tank
- Valves and Regulators
- Others
- Satellite Bus
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Communication Navigation
- Earth Observation and Remote Sensing
- Surveillance
- Scientific
- Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Commercial
- Government Military
- Civil
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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