The global LEO satellite market was valued at USD 7.71 billion in 2024 and is expected to grow to USD 11.53 billion by 2032, rising from USD 7.93 billion in 2025, at a CAGR of 5.5% during the forecast period. North America led the market in 2024 with a dominant 38.91% share.
Market growth is being driven by increasing demand for high-speed communication, Earth observation, and global connectivity. Positioned in lower orbits than traditional satellites, LEO satellites provide key advantages such as low latency and faster data transmission. These benefits make them ideal for a wide range of applications, including broadband internet, disaster management, navigation, and defense-related operations.
Global Leo Satellite Market Overview
- Market Size & Forecast2024 Market Size: USD 7.71 billion2025 Market Size: USD 7.93 billion2032 Forecast Market Size: USD 11.53 billionCAGR: 5.5% from 2025–2032
- Market ShareNorth America dominated the LEO satellite market with a 38.91% share in 2024, driven by increased investments in satellite infrastructure, national security applications, and broadband deployment through megaconstellations like Starlink and Project Kuiper.By type, the small satellite segment held the largest share due to low launch costs, shorter development cycles, and rising demand for compact, cost-effective satellite systems.By application, the communication segment led the market, fueled by the growing need for global broadband and mobile connectivity in underserved regions.By end-use, the commercial segment held the dominant share, supported by rapid growth in IoT networks, satellite imaging, and navigation services across industries.
- Key Country HighlightsUnited States: Leads the global market with active participation from major players such as SpaceX, Amazon (Project Kuiper), and Lockheed Martin, backed by high defense and commercial satellite investments.
Information Source:
https://www.fortunebusinessinsights.com/leo-satellite-market-112113
List of Key Players Mentioned in the Report:
- SpaceX (U.S.)
- Airbus Defense and Space (Germany)
- Lockheed Martin (U.S.)
- OneWeb (U.K.)
- Boeing (U.S.)
- Planet Labs Inc. (U.S.)
- Spire Global Inc. (U.S.)
- Iridium Communications Inc. (U.S.)
- Swarm Technologies (U.S.)