Satellite Communication (SATCOM) Market Outlook And Opportunities With Future Growth Scenario By 2027

 

Market Forecast


The satellite communication (SATCOM) market is projected to register a CAGR of 8.44% between 2021 and 2027.

 

SATCOM is used for the transmission of information from one place to another with the aid of a satellite that orbits around the Earth. SATCOM is employed for a wide range of mobile applications, including communication to aircraft, ships, vehicles, and hand-held terminals, as well as for TV and radio broadcasting.


The increasing deployment of small satellites, growing demand for high-speed Internet, and rising adoption of maritime VSAT are primarily driving the market's growth. Additionally, increasing demand for small form factor SATCOM solutions and frequent launches of military satellitesare driving the global market's growth.


Globally, military spending has increased significantly in recent years. Factors such as ongoing conflicts in the Middle East & Africa, long-standing tensions, territorial disputes between countries in Asia-Pacific, and a focus on counterterrorism activities are prompting governments to strengthen their defense capabilities. Moreover, the nature of warfare has changed significantly over the past decade. It is transforming from being weapon-centric to technology-centric. Thus, a rise in military spending directly boosts the demand for advanced defense systems, covering everything from aircraft and weapons to satellites.


Currently, military forces and defense organizations around the world are using satellites. Satellites can carry payloads, offering voice or data communication and optical imagery. These features offer several benefits in communication, intelligence, surveillance, and reconnaissance. Moreover, the launch of these satellites is increasing over the last few years.

 

 In 2019, the US Air Force launched its 10th military communication satellite. Furthermore, the US Space Force is working with the UK on military space projects and looking into further areas of cooperation, including small satellites, space deterrence and reduction of on-orbit space debris, satellite communications, and launch. Therefore, the increasing defense expenditure & frequent launches of satellites for military application is expected to drive the growth of the global satellite communication market during the forecast period.


Market USP

 

Increasingneed foradvanced satellite communication for rapidly advancing communications industry


Segmental Analysis


By Product


The SATCOM transpondersegment is expected to grow at the highest rate: The SATCOM transponder segment is expected to registerthe highest CAGR during the forecast period, 2021 to 2027. Additionally, the segment dominated the market in 2020. The growth can be attributed to the several advantages that the SATCOM transponders have to offer, such as flexibility, complete control over a specific system, and the capability for sustaining new and developed applications.



The SATCOM transceiver segment accounted for a significant market share in 2020: The SATCOM transceiver segment held a considerable market share in 2020. This can be ascribed to the technological advancements in the SATCOM transceiver and their abundant use in wireless communications.


The SATCOM antenna segment generated considerable revenues in 2020: The SATCOM antenna segment accounted for significant revenues in 2020. The growth can be attributed to the growing number of new players engaged in SATCOM antenna manufacturing and their extensive use in military and commercial applications.


The SATCOM modem segment is expected to grow at a significant rate: The SATCOM modem segment is likely to register a notable CAGR during the forecast period, 2021 to 2027. New product launches in the segment are one of the primary reasons for the expected growth during the review period.


The SATCOM receiver segment is likely to account for a significant market share: The SATCOM receiver segment is likely to account for a substantial market share in the coming years during the conjectured period. The rising adoption of unmanned aerial vehicles (UAVs) and unmanned vehicles is expected to drive the growth of this segment. Additionally, technological advancements aimed towards the enhancement of the efficiency of SATCOM receivers are likely to propel the growth of the segment in the global market.


By End Use


The commercial segment is expected to witness the higher growth rate: The commercial segment is forecasted to witness significant growth, registering the higher CAGR during the forecast period. Telecommunications, data communication, and TV programming through cable or Direct-To-Home (DTH) programming are some of the most popular applications of SATCOM commercially. Furthermore, satellite imagery is also in demand commercially to provide consumers up-to-date, high-resolution imagery, some common applications being Google Maps, Google Earth, and others.


SATCOM also plays a crucial role in the development of 5G technology. Satellite communications are critical to expanding 5G cellular networks to remote and hard-to-reach places, including planes, trains, boats, and other vehicles, especially in areas of the world that cellular providers have traditionally been unable to reach.


The government & defense segment accounted for a significant market share in 2020: The government & defense segment held a considerable market share in 2020. There are several applications of SATCOM in government and military initiatives. SATCOM services are used in case of national disasters and emergencies when land-based communication serves do not function properly. With the help of mobile satellite products, communication can be reestablished in emergency areas. Furthermore, several government initiatives utilize SATCOM services.Moreover, SATCOM plays a crucial role in the defense sector. Clear, reliable, and secure between the troops on the field and in command centers is vital and can be achieved only through the utilization of SATCOM equipment.


Key Players Operating in the Global Satellite Communication (SATCOM) Market:



  • Inmarsat plc (UK)
  • Honeywell International Inc. (US)
  • L3Harris Technologies, Inc. (US)
  • Indra Sistemas, S.A. (Spain)
  • General Dynamics Mission Systems, Inc. (US)
  • Cobham Plc (UK)
  • Viasat Inc. (US)
  • Iridium Satellite Communications Inc. (US)
  • Qualcomm Technologies, Inc. (US)
  • Gilat Satellite Networks (Israel)

 

Access full report @ https://www.marketresearchfuture.com/reports/satellite-communication-market-8466

 

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