The LEO Terminals Market is expected to grow rapidly, reaching USD 17.7 billion by 2028, from USD 6.0 billion in 2023, at a CAGR of 23.9%. North America is estimated to account for the largest share of the LEO terminals market in 2023.
The increasing demand for high-speed internet access, particularly in emerging markets, has led to the rapid expansion of LEO terminals, which are essential for connecting with LEO satellite constellations. These terminals play a critical role in applications such as fixed and mobile terminals, IoT, and 5G backhaul. They also address connectivity gaps in remote and underserved regions cost-effectively. The global coverage and low latency attributes of LEO terminals make them suitable for the rapidly growing IoT sector. The expansion of LEO satellite constellations further amplifies the capacity and coverage of LEO terminals, which fuels their growth.
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Based on platform, the LEO terminals market has been segmented into fixed, portable, and mobile. The mobile segment is projected to hold the largest market share, driven by an increase in mobility and connectivity, which is especially important for private businesses, government organizations, and individuals who require uninterrupted communication and data access while traveling.
Based on vertical, the LEO terminals market has been segmented into commercial and government & defense. LEO terminals are a significant technology used in disaster relief and emergency response scenarios, allowing government agencies to establish communication quickly and efficiently during crises. The miniaturization of LEO terminals has made satellite communication economically and potentially viable for widespread use in the commercial, civil, government, and military sectors.
Based on frequency, the LEO terminals market has been segmented into 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 offer a balance between data capacity and signal quality, making them suitable for various applications, including broadband internet access and mobile connectivity. This frequency efficiency and capability to support data-intensive services are driving its adoption in LEO terminal technology.
Based on Region, North America is expected to lead the LEO terminals market in 2023. The US is the largest market for LEO terminals in the region. The dynamic utilization of LEO terminals in the US is witnessed across diverse domains. In rural areas, they bridge connectivity gaps for educational institutions, libraries, and businesses by providing high-speed internet. Urban settings also benefit from LEO terminals, supplying reliable internet for events and venues. The healthcare sector leverages LEO terminals to enable remote patient monitoring and essential telehealth services.
Key Market Players
The LEO terminals companies is dominated by a few globally established players such as SpaceX (US), EchoStar Corporation (US), L3Harris Technologies, Inc. (US), Thales (France), Raytheon Technologies (US), and Kymeta Corporation (US) among others, are the key manufacturers that secured LEO terminals.
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