LEO Satellite Market to Reach USD 11.53 Billion by 2032 | 5.5% CAGR Forecast

LEO Satellite Market Size, Share & Growth Report (2025–2032) | North America Leads with 38.91% Share

NY, UNITED STATES, June 2, 2025 /EINPresswire.com/ -- The global LEO satellite market size was valued at USD 7.71 billion in 2024. The market is anticipated to grow from USD 7.93 billion in 2025 to USD 11.53 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period. North America dominated the LEO satellite market in 2024, holding a 38.91% share of the overall market.

LEO satellites orbit the Earth at altitudes of 160-1000 km, travelling at 7500 miles per hour (7.8 kilometers per second) to stay in orbit. Their closeness to Earth enables higher-resolution images, while their versatility supports telecommunication, surveillance, and navigation applications. Using L-band radio frequency, these satellites are ideal for maritime, aviation, and other communication needs. Expanding global satellite constellations to enhance internet connectivity, with 2,664 launches in 2023, is accelerating market growth.

Fortune Business Insights™ provides this information in its research report, titled “LEO Satellite Market Size, Share, Industry Growth, and Forecast, 2025-2032”.

Get A Free Sample PDF Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/leo-satellite-market-112113

List of Key Players Mentioned in the Report:
• SpaceX (U.S.)
• Airbus Defense and Space (Germany)
• Lockheed Martin (U.S.)
• OneWeb (U.K.)
• Boeing (U.S.)
• Planet Labs Inc. (U.S.)
• Spire Global Inc. (U.S.)
• Iridium Communications Inc. (U.S.)
• Swarm Technologies (U.S.)
• GomSpace (Denmark)

LEO Satellite Market Segmentation:

Small Segment Dominated, Driven by Technological Advancements
In terms of type, the market is fragmented into small, medium, and large. The small segment held the dominant share of the market. Innovation in miniaturization and the usage of commercial off-the-shelf components enable the incorporation of advanced technologies in a more compact and affordable form, boosting segment growth.

Communication Segment Led On Account of Rising Need for Mobile Communication
By application, the market is divided into communication, earth observation, navigation, scientific research, and others. The communication segment captured the highest LEO satellite market share. The growing demand for mobile communication and high-speed internet for data sharing is driving the growth of the segment.

Expanding Satellite use in Various Areas Led to the Dominance of Commercial Segment
Based on end use, the market is categorized into commercial and government & military. The commercial segment held the apex position of the market, fueled by growing satellite applications in weather forecasting, earth observation, IoT connectivity, and more. Major firms such as OneWeb and SpaceX are heavily investing in satellite deployment.

In terms of region, the market is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.

Speak To Analyst:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/leo-satellite-market-112113

Report Coverage:

The global market report offers an in-depth analysis of market size, forecasts, and segmentation by application, end use, and type. It explores market trends, competition, product pricing, and key developments that have influenced the global market growth.

Drivers and Restraints:

Rise of Small Satellites Constellations and Incorporation of Advanced Technologies to Bolster Market Growth
The launch of 2,402 small satellites in 2022 highlights the growing trend of adopting cost-effective and interconnected satellites. These systems enable extensive constellations that enhance global coverage and connectivity, meeting rising data and connectivity demands. Moreover, LEO satellite systems are becoming increasingly sophisticated, utilizing AI and machine learning to improve operational efficiency, lower costs, and provide low-latency solutions, further accelerating product adoption.

However, stringent regulations for satellite coordination and management can drive up operational costs and add complexity to satellite deployment, deterring LEO satellite market growth.

Regional Insights:

North America to Dominate the Market Owing to Strong Investment in Satellite Systems
North America leads the market with significant investments aimed at improving border surveillance, missile tracking capabilities, and national security. Leading companies such as Amazon, SpaceX, and Boeing are rapidly advancing satellite production and deployment, including Amazon’s Project Kuiper, which aims to produce over 3,000 satellites for enhanced global connectivity in July 2024.

The Asia Pacific region is benefitting from ongoing progress in spaceflight technology and launch systems, which supports the growth of the market. In August 2024, China’s plans to launch LEO satellites for its megaconstellation backed to a significant contract with the NRO, are set to enhance satellite infrastructure and global connectivity.

Ask For Customization:
https://www.fortunebusinessinsights.com/enquiry/customization/leo-satellite-market-112113

Competitive Landscape:

Key Players Focus on Mergers and Acquisitions to Sustain their Market Growth
Market leaders are focusing on advancing their product offerings by investing in R&D and developing diverse solutions. They are leveraging mergers, acquisitions, and new product launches to sustain their growth. Additionally, heavy investments in satellite networks are driving the push for global connectivity.

Key Industry Development:

May 2024- The Ministry of Science and ICT in South Korea announced a USD 234.4 million project to launch two LEO satellites by 2030, leveraging 6G communication technology for advanced satellite-based connectivity.

Read Related Insights:
Military Embedded Systems Market Size, Share, 2032
Green Airport Market Size, Trends, Growth, 2032

Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+ +1 833-909-2966
email us here