According to Fortune Business Insights, the global LEO satellite market size was valued at USD 7.71 billion in 2024. The market is projected 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.
LEO (Low Earth Orbit) satellites operate at altitudes ranging from 160 to 1,000 kilometers, traveling at speeds of approximately 7.8 kilometers per second (7,500 miles per hour) to maintain orbit. Their proximity to Earth allows for high-resolution imaging and enhanced performance across key applications such as telecommunications, surveillance, and navigation. Operating in the L-band radio frequency, these satellites are particularly well-suited for maritime, aviation, and other communication-intensive sectors.
The market is witnessing accelerated growth due to the rapid expansion of global satellite constellations aimed at enhancing internet connectivity, highlighted by the 2,664 satellite launches recorded in 2023.
Fortune Business Insights™ provides this information in its research report, titled “LEO Satellite Market Size, Share, Forecast, and 2025-2032”.
https://www.fortunebusinessinsights.com/leo-satellite-market-112113