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Medium Earth Orbit (MEO) Satellite IoT Market Share

Report ID: GMI11340
Published Date: Sep 2024
Report Format: PDF

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Medium Earth Orbit Satellite IoT Market Share

Lockheed Martin and Northrop Grumman are major players in the MEO satellite sector, leveraging their expertise in aerospace and defense to develop advanced satellite systems and constellations. Lockheed Martin focuses on innovative satellite technologies, while Northrop Grumman emphasizes integrated space solutions. Both companies are vital in enhancing MEO capabilities for various applications, including IoT and communications.

SpaceX and OneWeb are pivotal in expanding MEO satellite networks. SpaceX’s Starlink project aims to provide global broadband coverage, while OneWeb’s mission focuses on creating a global MEO constellation for connectivity. Thales Alenia Space and Airbus Defence and Space bring advanced engineering and manufacturing capabilities to the market, while RTX Corporation contributes with its technological advancements in satellite communication systems. These companies collectively drive innovation and growth in the MEO satellite industry.

Medium Earth Orbit Satellite IoT Market Companies

Major players operating in the market are:

Lockheed Martin Corporation
Northrop Grumman Corporation
SpaceX
Thales Alenia Space
Airbus Defence and Space
OneWeb
RTX Corporation

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Medium earth orbit (MEO) satellite IoT market size was USD 43 million in 2023 and is expected to register over 17% CAGR from 2024-2032 due to the rapid growth in IoT devices across sectors such as agriculture, transportation, and energy fuels worldwide.

Medium earth orbit satellite IoT industry from the direct-to-satellite segment held over 52% share in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to the need for seamless global connectivity.

North America industry held over 39% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to significant investments and technological advancements in the region.

Lockheed Martin Corporation, Northrop Grumman Corporation, SpaceX, Thales Alenia Space, Airbus Defence and Space, OneWeb, and RTX Corporation, are some of the major medium earth orbit (MEO) satellite IoT companies worldwide.