Abstract
Summary
The LEO terminals market is estimated to grow from USD 17.7 billion by 2028, from USD 6.0 billion in 2023, at a CAGR of 23.9% from 2023 to 2028. North America is estimated to account for the largest share of the LEO terminals market in 2023.
LEO terminals are rapidly displacing conventional applications in the commercial sector, such as communication, earth observation & remote sensing, and scientific purpose.The increased adoption of LEO terminals in various civil and commercial applications is driven by their exceptional endurance and cost-effectiveness. Furthermore, the integration of emerging technologies like artificial intelligence, IoT, and cloud computing into LEO terminals is anticipated to further boost their demand across various sectors.
Based on Platform, includes segments such as fixed, portable and mobile . Notably, the mobile segment is forecasted to experience the most substantial growth. Mobile terminals are expected to witness substantial growth, driven by factors such as the expanding availability of LEO satellite networks offering high-speed broadband connectivity, the rising demand for mobile satellite services in remote and underserved regions, and the ongoing development of innovative mobile satellite terminal technologies.
Based on Vertical, the LEO terminals market is segmented into commercial and government & defense. The government & defense segment is expected to witness the highest growth during the forecast period due to the rising demand for secure communications solutions to drive growth.
Based on frequency, the LEO terminals market has been categorized into several segments, including C-band, L- & S-band, X-band, Ka-band, Ku-band, VHF/UHF-band, EHF/SHF-band, Q-band, and multi-band. Ku-band frequencies. Among these frequency areas, the ku-band segment is projected to be the predominant driver of market growth, characterized by the highest Compound Annual Growth Rate (CAGR) during the forecast period. This trend can be attributed to the increasing demand for expeditious for various applications, particularly in broadband internet access and mobile connectivity, which has seen heightened demand.
“ North America is expected to hold the highest market share in 2023.”
The North American LEO terminal market is substantiated by a constellation of factors. Foremost is the escalating demand for high-speed internet connectivity. With North America's status as a highly developed region boasting a sizable and burgeoning population, the need for swift internet connectivity is on the ascent, particularly in rural locales. LEO terminals are recognized as a practical solution, effectively offering cost-effective and dependable internet accessibility to these underserved regions.
North America is projected to maintain the predominant market share in 2023. This notable regional growth can be attributed to the burgeoning trend of online retail via e-commerce platforms and the favorable regulatory framework established by the Federal Aviation Administration (FAA) in the United States. Moreover, the increase in investments from prominent industry stakeholders to bolster emerging parcel service platforms is anticipated to be a significant driver of the regional market's expansion throughout the forecasted period.
The break-up of profile of primary participants in the LEO terminals market:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 40%, Europe – 20%, Asia Pacific – 30%, Middle East & Africa – 5%, Latin America – 5%
Winners of LEO terminals market are SpaceX (US), EchoStar Corporation (US), L3Harris Technologies, Inc. (US), Thales (France), Raytheon Technologies (US), and Kymeta Corporation (US). These key players offer connectivity applicable for various sector and have well-equipped and strong distribution networks across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Research Coverage:
In terms of Platform, the LEO terminals market is divided into Fixed, Platform and Mobile.
The vertical based segmentation includes commercial and government & defence. The commercial segment of the LEO terminals market is diverse, encompassing telecommunications & cellular backhaul, media & entertainment, business & enterprise, transportation & logistics, scientific research & development, aviation, marine, retail & consumer, and other markets.
The LEO terminals market, with regard to frequency, is categorized into end-to-end and point solutions. The end-to-end solution encompasses all platform services, such as piloting and operations, data analytics, and data processing. In contrast, point solutions are specific to piloting or data processing for applications such as surveying, inspection, and monitoring.
This report segments the LEO terminals market across five key regions: North America, Europe, Asia Pacific, the Middle East & Africa and Latin America, along with their respective key countries. The report's scope includes in-depth information on significant factors, such as drivers, restraints, challenges, and opportunities that influence the growth of the LEO terminals market.
A comprehensive analysis of major industry players has been conducted to provide insights into their business profiles, solutions, and services. This analysis also covers key aspects like agreements, collaborations, new product launches, contracts, expansions, acquisitions, and partnerships associated with the LEO terminals market.
Reasons to buy this report:
This report serves as a valuable resource for market leaders and newcomers in the LEO terminals market, offering data that closely approximates revenue figures for both the overall market and its subsegments. It equips stakeholders with a comprehensive understanding of the competitive landscape, facilitating informed decisions to enhance their market positioning and formulate effective go-to-market strategies for LEO terminals . The report imparts valuable insights into the market dynamics, offering information on crucial factors such as drivers, restraints, challenges, and opportunities, enabling stakeholders to gauge the market's pulse.
The report provides insights on the following pointers:
• Analysis of the key driver (Increasing demand for cost-effective, high-speed connectivity, Rapid integration of Internet of Things, Expansion of LEO satellite constellations, Government initiatives for development of LEO terminals), restraint (High cost of LEO terminals , Availability of other broadband technologies) opportunities (Widescale applications of LEO terminals, Growing demand for connectivity from developing countries) and challenges (Technical constraints associated with development and launch of LEO satellites, Threat of data interception, unauthorized access, and cyberattacks, Rise in environmental concerns) there are several factors that could contribute to an increase in the LEO terminals market.
• Market Penetration: Comprehensive information on LEO terminals system offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the LEO terminals market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the LEO terminals market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the LEO terminals market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the LEO terminals market
Table of Contents
1 INTRODUCTION 30
1.1 STUDY OBJECTIVES 30
1.2 MARKET DEFINITION 30
1.3 INCLUSIONS AND EXCLUSIONS 31
1.4 STUDY SCOPE 31
1.4.1 MARKETS COVERED 31
1.4.2 REGIONS COVERED 32
1.4.3 YEARS CONSIDERED 32
1.5 CURRENCY CONSIDERED 33
1.6 STAKEHOLDERS 33
2 RESEARCH METHODOLOGY 34
2.1 RESEARCH DATA 34
2.1.1 SECONDARY DATA 35
- 2.1.1.1 Secondary sources 36
2.1.2 PRIMARY DATA 36
- 2.1.2.1 Primary respondents 36
- 2.1.2.2 Key data from primary sources 37
2.2 FACTOR ANALYSIS 38
2.2.1 INTRODUCTION 38
2.2.2 DEMAND-SIDE INDICATORS 38
2.2.3 SUPPLY-SIDE INDICATORS 39
2.2.4 RECESSION IMPACT 39
2.3 MARKET SIZE ESTIMATION 39
2.3.1 BOTTOM-UP APPROACH 40
2.3.2 TOP-DOWN APPROACH 41
2.4 DATA TRIANGULATION 42
2.5 RESEARCH ASSUMPTIONS 43
2.6 RESEARCH LIMITATIONS 44
2.7 RISK ASSESSMENT 44
3 EXECUTIVE SUMMARY 45
4 PREMIUM INSIGHTS 48
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN LEO TERMINALS MARKET 48
4.2 LEO TERMINALS MARKET, BY PLATFORM 48
4.3 LEO TERMINALS MARKET, BY VERTICAL 49
4.4 LEO TERMINALS MARKET, BY COMMERCIAL VERTICAL 49
4.5 LEO TERMINALS MARKET, BY FREQUENCY 50
5 MARKET OVERVIEW 51
5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 51
5.2.1 DRIVERS 52
- 5.2.1.1 Increasing demand for cost-effective, high-speed connectivity 52
- 5.2.1.2 Rapid integration of Internet of Things 52
- 5.2.1.3 Expansion of LEO satellite constellations 52
- 5.2.1.4 Government initiatives for development of LEO terminals 52
5.2.2 RESTRAINTS 53
- 5.2.2.1 High cost of LEO terminals 53
- 5.2.2.2 Availability of other broadband technologies 53
5.2.3 OPPORTUNITIES 53
- 5.2.3.1 Widescale applications of LEO terminals 53
- 5.2.3.2 Growing demand for connectivity from emerging countries 53
5.2.4 CHALLENGES 54
- 5.2.4.1 Technical constraints associated with development and launch of LEO satellites 54
- 5.2.4.2 Threat of data interception, unauthorized access, and cyberattacks 54
- 5.2.4.3 Rise in environmental concerns 54
5.3 VALUE CHAIN ANALYSIS 55
5.4 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 56
5.5 ECOSYSTEM MAPPING 57
5.5.1 PROMINENT COMPANIES 57
5.5.2 PRIVATE AND SMALL ENTERPRISES 57
5.5.3 END USERS 57
5.6 PRICING ANALYSIS 59
5.6.1 AVERAGE SELLING PRICE TREND OF LEO TERMINALS, BY KEY PLAYER 59
5.6.2 AVERAGE SELLING PRICE TREND OF LEO TERMINALS, BY VERTICAL 60
5.6.3 AVERAGE SELLING PRICE TREND OF LEO TERMINALS, BY REGION 61
5.6.4 AVERAGE SELLING PRICE TREND OF LEO TERMINALS FOR COMMERCIAL VERTICAL, BY REGION 61
5.6.5 AVERAGE SELLING PRICE TREND OF LEO TERMINALS FOR GOVERNMENT & DEFENSE VERTICAL, BY REGION 61
5.7 PORTER’S FIVE FORCES ANALYSIS 62
5.7.1 THREAT OF NEW ENTRANTS 62
5.7.2 THREAT OF SUBSTITUTES 62
5.7.3 BARGAINING POWER OF SUPPLIERS 63
5.7.4 BARGAINING POWER OF BUYERS 63
5.7.5 INTENSITY OF COMPETITIVE RIVALRY 63
5.8 VOLUME DATA 63
5.9 REGULATORY LANDSCAPE 63
5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 67
5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS 67
5.10.2 BUYING CRITERIA 67
5.11 ROADMAP OF LEO TERMINALS MARKET 68
5.12 TRADE ANALYSIS 69
5.13 KEY CONFERENCES AND EVENTS, 2023-2024 73
6 INDUSTRY TRENDS 74
6.1 INTRODUCTION 74
6.2 TECHNOLOGY TRENDS 74
6.2.1 SOFTWARE-DEFINED RADIOS 74
6.2.2 MASSIVE MULTIPLE-INPUT MULTIPLE-OUTPUT TECHNOLOGY 74
6.2.3 SOFTWARE-CENTRIC DESIGN 75
6.2.4 ADAPTIVE COMMITTED BANDWIDTH 75
6.2.5 USE OF LARGE REFLECTORS FOR HIGH-SPEED TRANSMISSION 75
6.2.6 ADVANCES IN USER TERMINAL UP/DOWN CONVERTERS 75
6.3 IMPACT OF MEGATRENDS 76
6.3.1 INTERNET OF THINGS 76
6.3.2 MULTI-BAND MULTI-MISSION ANTENNAS 76
6.3.3 AUTONOMOUS AIRCRAFT 77
6.3.4 SMART ANTENNAS 77
6.4 SUPPLY CHAIN ANALYSIS 78
6.5 USE CASE ANALYSIS 79
6.5.1 LEO SATELLITE COMMUNICATIONS 79
6.5.2 EVALUATION OF ALL-USER TERMINALS IN LEO SATELLITE COMMUNICATIONS NETWORKS 79
6.5.3 UTILIZATION OF LEO TERMINALS 80
6.5.4 SATELLITE-BASED IOT NETWORKS 81
6.5.5 KU-KA BAND VSATS 81
6.6 PATENT ANALYSIS 82
7 LEO TERMINALS MARKET, BY VERTICAL 86
7.1 INTRODUCTION 87
7.2 COMMERCIAL 88
7.2.1 DIVERSE APPLICATIONS OF LEO TERMINALS TO DRIVE GROWTH 88
- 7.2.1.1 Telecommunications & Cellular Backhaul 89
- 7.2.1.2 Media & Entertainment 89
- 7.2.1.3 Business & Enterprise 89
- 7.2.1.4 Transportation & Logistics 89
- 7.2.1.5 Scientific Research & Development 90
- 7.2.1.6 Aviation 90
- 7.2.1.7 Marine 90
- 7.2.1.8 Retail & Consumer 90
- 7.2.1.9 Others 91
7.3 GOVERNMENT & DEFENSE 91
7.3.1 NEED FOR SECURE COMMUNICATIONS SOLUTIONS TO DRIVE GROWTH 91
- 7.3.1.1 Military 92
- 7.3.1.2 Homeland Security & Emergency Management 92
8 LEO TERMINALS MARKET, BY PLATFORM 93
8.1 INTRODUCTION 94
8.2 FIXED 95
8.2.1 RISING DEMAND FOR HIGH-SPEED INTERNET FROM REMOTE AREAS TO DRIVE GROWTH 95
8.3 PORTABLE 95
8.3.1 INCREASING PREFERENCE FOR ON-THE-GO CONNECTIVITY TO DRIVE GROWTH 95
8.4 MOBILE 95
8.4.1 ADVANCEMENTS IN MOBILE TERMINAL TECHNOLOGY TO DRIVE GROWTH 95
9 LEO TERMINALS MARKET, BY FREQUENCY 96
9.1 INTRODUCTION 97
9.2 C-BAND 98
9.3 L- & S-BAND 98
9.4 X-BAND 99
9.5 KA-BAND 99
9.6 KU-BAND 100
9.7 VHF/UHF-BAND 100
9.8 EHF/SHF-BAND 100
9.9 Q-BAND 101
9.10 MULTI-BAND 101
10 LEO TERMINALS MARKET, BY REGION 102
10.1 INTRODUCTION 103
10.2 REGIONAL RECESSION IMPACT ANALYSIS 104
10.3 NORTH AMERICA 105
10.3.1 INTRODUCTION 105
10.3.2 PESTLE ANALYSIS 106
10.3.3 US 109
- 10.3.3.1 Development of new LEO satellite constellations to drive growth 109
10.3.4 CANADA 110
- 10.3.4.1 Need for high-speed connectivity to drive growth 110
10.4 EUROPE 111
10.4.1 INTRODUCTION 111
10.4.2 PESTLE ANALYSIS 111
10.4.3 RUSSIA 115
- 10.4.3.1 Prevalence of remote working and learning to drive growth 115
10.4.4 GERMANY 116
- 10.4.4.1 Increasing demand for connectivity from rural areas to drive growth 116
10.4.5 FRANCE 118
- 10.4.5.1 Rising adoption of connected devices to drive growth 118
10.4.6 UK 119
- 10.4.6.1 Booming IoT applications to drive growth 119
10.4.7 ITALY 120
- 10.4.7.1 High demand for satellite services to drive growth 120
10.4.8 REST OF EUROPE 122
10.5 ASIA PACIFIC 123
10.5.1 INTRODUCTION 123
10.5.2 PESTLE ANALYSIS 123
10.5.3 CHINA 127
- 10.5.3.1 Rigorous development of LEO terminals to drive growth 127
10.5.4 INDIA 128
- 10.5.4.1 Rising security concerns to drive growth 128
10.5.5 JAPAN 130
- 10.5.5.1 Widespread use of satellites in surveillance activities to drive growth 130
10.5.6 SOUTH KOREA 131
- 10.5.6.1 Growing popularity of online gaming and streaming services to drive growth 131
10.5.7 REST OF ASIA PACIFIC 132
10.6 MIDDLE EAST & AFRICA 133
10.6.1 INTRODUCTION 133
10.6.2 PESTLE ANALYSIS 134
10.6.3 SAUDI ARABIA 137
- 10.6.3.1 Rapid development of LEO networks to drive growth 137
10.6.4 ISRAEL 138
- 10.6.4.1 Presence of key players to drive growth 138
10.6.5 SOUTH AFRICA 140
- 10.6.5.1 Improving telecommunications infrastructure to drive growth 140
10.6.6 REST OF MIDDLE EAST & AFRICA 141
10.7 LATIN AMERICA 142
10.7.1 INTRODUCTION 142
10.7.2 PESTLE ANALYSIS 142
10.7.3 BRAZIL 146
- 10.7.3.1 Poor internet connectivity to drive growth 146
10.7.4 MEXICO 147
- 10.7.4.1 Government investments for development of LEO satellite networks to drive growth 147
10.7.5 ARGENTINA 148
- 10.7.5.1 Rising deployment of LEO terminals to drive growth 148
11 COMPETITIVE LANDSCAPE 150
11.1 INTRODUCTION 150
11.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2020-2022 150
11.3 MARKET RANKING ANALYSIS, 2022 151
11.4 REVENUE ANALYSIS, 2022 152
11.5 MARKET SHARE ANALYSIS, 2022 152
11.6 COMPANY EVALUATION MATRIX, 2022 154
11.6.1 STARS 154
11.6.2 EMERGING LEADERS 154
11.6.3 PERVASIVE PLAYERS 155
11.6.4 PARTICIPANTS 155
11.6.5 COMPANY FOOTPRINT 156
11.7 START-UP/SME EVALUATION MATRIX, 2022 158
11.7.1 PROGRESSIVE COMPANIES 158
11.7.2 RESPONSIVE COMPANIES 158
11.7.3 DYNAMIC COMPANIES 159
11.7.4 STARTING BLOCKS 159
11.7.5 COMPETITIVE BENCHMARKING 160
11.8 COMPETITIVE SCENARIO 161
11.8.1 MARKET EVALUATION FRAMEWORK 161
11.8.2 PRODUCT LAUNCHES 162
11.8.3 DEALS 163
11.8.4 OTHERS 179
12 COMPANY PROFILES 181
12.1 KEY PLAYERS 181
12.1.1 SPACEX 181
12.1.2 L3HARRIS TECHNOLOGIES, INC 185
12.1.3 KYMETA CORPORATION 188
12.1.4 ECHOSTAR CORPORATION 191
12.1.5 THALES 195
12.1.6 RAYTHEON TECHNOLOGIES 200
12.1.7 GENERAL DYNAMICS CORPORATION 204
12.1.8 HONEYWELL INTERNATIONAL INC 207
12.1.9 ASELSAN A.S 210
12.1.10 INTELLIAN TECHNOLOGIES, INC 213
12.1.11 ST ENGINEERING 218
12.1.12 BALL CORPORATION 222
12.1.13 COBHAM SATCOM 225
12.1.14 GILAT SATELLITE NETWORKS 232
12.1.15 VIASAT, INC 238
12.2 OTHER PLAYERS 242
12.2.1 THINKOM SOLUTIONS, INC 242
12.2.2 NORSAT INTERNATIONAL INC 243
12.2.3 APT SATELLITE CO. LTD 244
12.2.4 SATCUBE 245
12.2.5 MYNARIC AG 246
12.2.6 LEOSAT ENTERPRISES 247
12.2.7 AVL TECHNOLOGIES, INC 248
12.2.8 KEPLER COMMUNICATIONS INC 249
12.2.9 KRATOS DEFENSE & SECURITY SOLUTIONS, INC 249
12.2.10 SAINT-GOBAIN COMPOSITE SOLUTIONS 250
13 APPENDIX 251
13.1 DISCUSSION GUIDE 251
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 253
13.3 CUSTOMIZATION OPTIONS 255
13.4 RELATED REPORTS 255
13.5 AUTHOR DETAILS 256