LEO Satellite Market Size to Hit USD 44.66 Billion by 2032 Due to the Rising Demand for Connectivity Globally | SNS Insider
The U.S. LEO Satellite Market was valued at USD 4.57 billion in 2024 and is expected to reach USD 14.86 billion by 2032, growing at a CAGR of 16.23% during the forecast period 2025–2032.
Austin, Sept. 30, 2025 (GLOBE NEWSWIRE) — LEO Satellite Market Size & Growth Insights:
According to the SNS Insider,“The LEO Satellite Market Size was valued at USD 13.5 billion in 2024 and is expected to reach USD 44.66 billion by 2032 and grow at a CAGR of 16.48% over 2025-2032.”
Surge in Demand for Global Internet Connectivity from Remote and Underserved Areas Propel Market Growth
In order to address the growing demand for internet connection in underserved, rural, and distant locations, nations all over the world are putting in place LEO satellite networks. These satellites fill up the connection gaps left by terrestrial infrastructure by providing low-latency, high-throughput coverage worldwide.
To make worldwide internet a reality, SpaceX, OneWeb, and other companies are launching hundreds of thousands of low-Earth orbit (LEO) satellites. The requirement for ubiquitous internet connection is being met by LEO systems, which are meeting tremendous market demand from both the public and private sectors as digital inclusion becomes one of the top goals worldwide.
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Leading Market Players with their Product Listed in this Report are:
- SpaceX
- OneWeb
- Amazon
- Telesat
- Airbus Defence and Space
- Boeing
- Lockheed Martin
- Northrop Grumman
- Thales Alenia Space
- L3Harris Technologies
- Sierra Space
- Blue Origin
- LeoSat Enterprises
- Honeywell Aerospace
- OHB SE
- Raytheon Technologies
- Planet Labs
- Spire Global
- Surrey Satellite Technology Ltd (SSTL)
- Rocket Lab
LEO Satellite Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 13.50 Billion |
| Market Size by 2032 | USD 44.66 Billion |
| CAGR | CAGR of 16.48% From 2025 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Type (Electric, Gas based and Liquid Fuel) • By Application (Communication, Earth Observation & Remote Sensing, Scientific Research, Technology and Others) • By Frequency (L-Band, S-Band, C-Band, X-Band, Ku-Band, Ka-Band and Q/V-Band) • By End-User (Commercial, Government & Defense and Others) |
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Key Industry Segmentation
By Type
In 2024, Electric segment held the largest LEO Satellite industry share of 47.3% and it is also the fastest-growing segment, expected to grow at a CAGR of 17.16% from 2023 to 2032 due to its high efficiency, low propellant mass, and capability for longer missions.
By Application
The Communication segment was at the forefront in 2024, led by broadband constellations aiming for global reach of 41.7%. The Earth Observation & Remote Sensing is the fastest growing type segment and is expected to grow at a highest CAGR of 17.48% during the forecast period of 2023-2032. Its applications have increased from agriculture to urban planning and climate monitoring.
By Frequency
Ka-band dominated the LEO Satellite Market share by 26.9% in 2024 and it is also the segment with the highest growth rate, which will grow at a CAGR of 18% until 2032, due to the low-noise amplification of LEO ground stations.
By End-User
Commercial segment accounted for a leading share of 61.5% in 2024 and is also the fastest growing segment with a CAGR of 16.98% during 2025-2032 led by broadband, imaging and IoT satellite constellations.
North America Dominated the Market with a Share of 38.2% in 2024; Asia Pacific is Expected to Register Highest CAGR Growth During 2025-2032
North America was the largest regional market in 2024 at 38.2%, largely driven by the U.S. implementing aggressive LEO satellite programs. The U.S. dominates the North American LEO satellite market due to strong government support, advanced aerospace infrastructure, and major players such as SpaceX and Amazon. Asia Pacific is projected to have the fastest growth with a CAGR rate of 18.34% during 2024-2032 as China, India, and Japan are quickly building LEO satellites to this effect for communications and Earth observation and surveillance.
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Recent News:
- In October 2024, SpaceX launched 20 OneWeb spares, bringing total constellation to around 654 satellites and reinforcing global coverage.
- In April 2025, launched first 27 operational Kuiper satellites on Atlas V, marking initiation of full constellation deployment.
Exclusive Sections of the LEO Satellite Market Report (The USPs)
- Adoption & Utilization Statistics – helps you analyze utilization rates across application segments, constellation deployment by operators, and ground station expansion metrics.
- Regulatory & Licensing Insights – helps you understand orbital slot approvals, spectrum allocation trends, and policy compliance rates shaping market access across countries.
- Sustainability & Space Debris Metrics – helps you track active vs. decommissioned satellites, debris generation estimates, and adoption of mitigation technologies.
- Constellation Adoption Trends – helps you uncover operator-wise deployment strategies and end-user adoption shares across government, commercial, and academic segments.
- Policy Compliance Benchmarks – helps you evaluate regulatory approval timelines, country-level licensing efficiency, and operator adherence to global space standards.
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