Small satellites are used for in-orbit inspection purposes of larger satellites. These satellites usually weigh less than 500 kg. Industry experts believe that the pandemic has not affected the demand for satellite equipment.īased on satellite type, the small satellite segment is expected to lead the LEO satellite market from 2021 to 2026.Ī small satellite is a type of low mass and compact satellite primarily employed for remote sensing, Earth observation, and communication purposes. COVID-19 has affected the LEO satellite market growth to some extent, and this varies from country to country. Growing investments by several governments particularly in developed and developing economies such as the US, India, and China, among others. The amount of satellite data and the range of applications for that data will continue to grow in the future as new technologies develop and more satellites come online. Factors such as versatility, low cost, advanced mechanics, ease of assembly and launch, mass production, and short lifecycles have driven investments in the LEO satellite market. The market is one of the most lucrative verticals of the space industry. LEO satellite systems hold a huge potential for satellite data service providers, small sat service providers, remote sensing service providers, technical service providers, and investors. The report " LEO Satellite Market by Satellite Type (Small, Cube, Medium, Large satellites), Application (Communication, Earth Observation & Remote Sensing, Scientific, Technology), Subsystem, End User, Frequency, and Region - Forecast to 2026" The LEO satellite market is projected to grow from USD 9.6 billion in 2021 to USD 19.8 billion by 2026, at a CAGR of 15.5 %.
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