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Low Earth Orbit (LEO) Satellite IoT Market Share

Report ID: GMI12135
Published Date: Nov 2024
Report Format: PDF

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LEO Satellite IoT Market Share

The LEO satellite IoT industry is highly competitive, with aerospace giants like SpaceX, Northrop Grumman, and Lockheed Martin leading the pack. These companies are investing heavily in R&D to improve satellite capabilities, reduce costs, and form key partnerships for large-scale deployments. The race is to provide affordable, high-speed global IoT connectivity, with a focus on unique services like ultra-low latency and coverage in remote areas. Strategic alliances with government and private clients are crucial for gaining market share. As new players enter the market, established companies must innovate and streamline operations to maintain their edge, using their proprietary technology and specialized expertise in this rapidly growing sector.

LEO Satellite IoT Market Companies

Major players operating in the low earth orbit (LEO) satellite IoT industry are:

AAC Clyde Space
Airbus
BAE Systems
Blue Origin
China Aerospace Science and Technology Corporation
Exolaunch
GomSpace
Lockheed Martin
Maxar Technologies
Millennium Space Systems
Mitsubishi Electric
Northrop Grumman
OHB
OneWeb
RTX
Sierra Nevada
SpaceX
Thales Alenia Space

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The global market size for LEO satellite IoT was valued at USD 849.6 million in 2023 and is expected to reach USD 4.79 billion by 2032, driven by a CAGR of over 22.1% from 2024 to 2032.

The direct-to-satellite segment accounted for over 55% of the market share in 2023, due to the need for enhanced connectivity in remote areas.

North America market led with over 36% share in 2023, driven by technological advancements and increasing demand for global connectivity.

Major players in the industry include AAC Clyde Space, Airbus, BAE Systems, Blue Origin, Exolaunch, GomSpace, Lockheed Martin, Maxar Technologies, and Millennium Space Systems.