Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for technology industry professionals · Friday, March 1, 2024 · 692,511,790 Articles · 3+ Million Readers

Global Low Earth Orbit Satellites Market Soars to $5.26 Billion in 2023, Set to Reach $12.51 Billion by 2027

Low Earth Orbit Satellites Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

Low Earth Orbit Satellites Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032”
— The Business Research Company

LONDON, GREATER LONDON , UK, December 8, 2023 /EINPresswire.com/ -- The global low earth orbit (LEO) satellites market has experienced substantial growth, surging from $4.29 billion in 2022 to an impressive $5.26 billion in 2023, reflecting a remarkable compound annual growth rate (CAGR) of 22.6%. Despite challenges posed by the Russia-Ukraine conflict impacting global economic recovery from the COVID-19 pandemic, the market is expected to continue its upward trajectory, reaching an estimated $12.51 billion by 2027, with a projected CAGR of 24.2%.

Rising Adoption of LEO Satellites Drives Market Growth
The increasing adoption of low earth orbit satellites across various sectors is a key driver propelling the market's expansion. LEO satellites play a pivotal role in earth observation, particularly in sectors like agriculture, contributing to global safety, protection, and longevity. With the world population expected to reach 9.7 billion by 2050, the United Nations emphasizes a 69% increase in overall agricultural production between 2010 and 2050. Notably, the Indian Space Research Organisation (ISRO) launched an earth observation satellite in November 2020, focusing on agriculture, forestry, and disaster management support. Companies like Planet and Satellogic are also contributing to smart farming solutions through the deployment of small and nanosatellites, further boosting the growth of the LEO satellites market.

Explore the global low earth orbit satellites market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample_request?id=5170&type=smp

Key Players in LEO Satellites Market
Major players driving innovation and growth in the low earth orbit satellites market include Northrop Grumman, Kepler Communications, SpaceX, Boeing, Lockheed Martin, Thales Alenia Space, Airbus Defence and Space, SSL, Globalstar, and BAE System. These industry leaders are instrumental in shaping the landscape through advancements and strategic initiatives.

Regional Insights: North America Leads, Anticipated to be the Fastest Growing
North America emerged as the largest region in the low earth orbit satellites market in 2022 and is expected to maintain its leadership position. Furthermore, North America is poised to be the fastest-growing region in the forecast period. The comprehensive global analysis covers regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

Access the complete report for detailed regional dynamics and growth opportunities:
https://www.thebusinessresearchcompany.com/report/low-earth-orbit-leo-satellites-global-market-report

Low Earth Orbit Satellites Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Low Earth Orbit Satellites Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on low earth orbit satellites market size, low earth orbit satellites market drivers and low earth orbit satellites market trends, low earth orbit satellites market major players, low earth orbit satellites market competitors' revenues, low earth orbit satellites market positioning, and low earth orbit satellites market growth across geographies. The low earth orbit satellites market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:
Satellites Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/satellites-global-market-report

Military Satellites Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/military-satellites-global-market-report

Small Satellite Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/small-satellite-global-market-report

About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

Check out our:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
Twitter
LinkedIn

Explore the Exciting Growth Potential of the Automotive Voice Recognition System Market

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release