Skip to main content

Satellite Communication (SATCOM) Market to Worth USD 56.74 Billion by 2029 | With 9.54% CAGR

Pune, India, July 05, 2023 (GLOBE NEWSWIRE) — According to a report published by Fortune Business Insights™, the global Satellite Communication (SATCOM) Market was valued at USD 27.56 billion in 2021 and is expected to reach USD 56.74 billion by 2029, growing at a CAGR of 9.54% during the forecast period.

This robust growth can be attributed to the increasing number of space exploration activities and advancements in satellite communication technologies. The SATCOM market is poised for remarkable expansion in the coming years, driven by the demand for reliable and efficient communication solutions in various sectors.

Get a Free Sample Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/satellite-communication-satcom-market-102679

List of the Companies Profiled in the SATCOM Market Report:

  • Qualcomm Technologies, Inc. (U.S.)
  • Viasat, Inc. (U.S.)
  • KVH Industries, Inc. (U.S.)
  • Boeing (U.S.)
  • Cobham Limited (U.K.)
  • Communications and Power Technologies (U.S.)
  • Honeywell International Inc. (U.S.)
  • Inmarsat Global Limited (U.K)
  • Iridium Communications Inc. (U.S.)
  • L3Harris Technologies, Inc. (U.S.)

Report Scope & Segmentation:

Report CoverageDetails
Forecast Period2023-2029
Forecast CAGR9.54%
2029 Value ProjectionUSD 56.74 Billion
Market Size in 2022USD 29.98 Billion
Historical Data2018-2020
No. of Pages222
Report CoverageRevenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
  • By Platform
  • By Component
  • By Application
  • By End-user
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Satellite Communication (SATCOM) Market Growth DriversRising Integration of the Internet of Things (IoT) in Aviation Industry to Boost the Market
Implementation of Autonomous Technology and Real-time Data Tracking through Satellites to Aid Satellite Communication (SATCOM) Market Growth

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/satellite-communication-satcom-market-102679

COVID-19 Impact:

A substantial impact has been observed on the aviation sector during the COVID-19 outbreak. Factors such as reduced procurement contracts and slow production rates from Original Equipment Manufacturers (OEMs) harm the market growth. Furthermore, limited export and import of essential raw materials and production challenges amid enforced border restrictions by governments in several countries have lowered the demand for the product.

Segments:

Component:

  • Transmitter/transponder
  • Transceiver
  • Antenna
  • Receiver
  • Others

Application:

  • Remote sensing
  • Military applications and navigations
  • Weather monitoring
  • Broadcasting
  • Others

End-user:

  • Commercial
  • Government & defense

Get a Quote Now:

https://www.fortunebusinessinsights.com/enquiry/get-a-quote/satellite-communication-satcom-market-102679

Report Coverage:

The comprehensive report offers valuable insights into the Satellite Communication (SATCOM) industry, including a detailed regional analysis highlighting the contribution of various regions to market growth. The report provides both qualitative and quantitative analysis of several factors that will influence the market, including key drivers and restraints. Moreover, it sheds light on the strategies adopted by major players, such as forming partnerships, collaborations, and introducing new products, which are expected to significantly contribute to the market’s growth. The report serves as a valuable resource for industry stakeholders, providing a comprehensive understanding of the SATCOM market and its potential for expansion.

Drivers and Restraints:

Rising Technological Development of Small Satellites in the Aviation Industry to Fuel Product Demand

The growth in demand for small satellites in ground operations, driven by technological advancements, has significantly boosted the demand for satellite communication products. Additionally, the increasing need for data analytics, cloud computing, and artificial intelligence has further fueled the demand for these products. However, it is important to note that the market growth may face obstacles due to security concerns surrounding the sustainability of satellite systems. Despite these challenges, the overall growth prospects for the Satellite Communication (SATCOM) industry remain promising, driven by the expanding applications and advancements in satellite communication technologies.

Regional Insights:

Rising Government Spending on Military Networks Nurtures Growth in North America

North America held a significant grip on the global Satellite Communication (SATCOM) market share during the projected period due to rising government spending on military and communication networks across the region.

Asia Pacific is projected to showcase exponential growth during the forecast period due to the expansion in use of satellite antennas in the telecommunication, aviation, and IT industries.

Europe is seen to have decent demand due to rapid improvement in infrastructure modernization projects and the growing number of space exploration activities.

Competitive Landscape:

Major Players are Making Significant Investments in Space Exploration to Enhance their Market Dominance
The market’s key players are continuously deploying acquisition strategies to strengthen their client base. For example, in June 2022, Viasat, a satellite communications firm, approved the proposed acquisition of Britain’s Satellite communication with an aim to connect the world securely.

Ask for Customization:

https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/satellite-communication-satcom-market-102679

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments –Mergers, Acquisitions and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights- Impact of COVID-19 Pandemic on Satellite Communication (SATCOM) Market
    • Impact of COVID-19 on Global Satellite Communication (SATCOM) Market
    • Steps Taken by Industry/Companies/Governments to Overcome the Impact
    • Potential Opportunities Due to COVID-19 Outbreak
  • Global Satellite Communication (SATCOM) Market Analysis, Insights and Forecast, 2018-2029
    • Segmental Definitions
    • Market Analysis, Insights and Forecast – By Component
      • Transmitter/ Transponder
      • Receiver
      • Transceiver
      • Antenna
      • Others
    • Market Analysis, Insights and Forecast – By Platform
      • Portable SATCOM equipment
      • Land SATCOM equipment
      • Maritime SATCOM equipment
      • Airborne SATCOM equipment
    • Market Analysis, Insights and Forecast – By End User
      • Commercial
      • Government and Defense
    • Market Analysis, Insights and Forecast – By Application
      • Broadcasting
      • Remote Sensing
      • Military Application & Navigation
      • Weather Monitoring
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Rest of the World

TOC Continued…!

Key Industry Development:

May 2022- UltiSat Inc. and Cobham Satcom announced the signing of a strategic distributor and integrator agreement to expand their market reach.  

Speak to Our Expert:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/satellite-communication-satcom-market-102679

Read Related Insights:

Satellite Manufacturing and Launch System Market to Hit USD 54.17 Billion by 2027 | At CAGR of 12.45%

Empowering Global Connectivity: Satellite Payload Market Takes Off with Next-Generation Technologies and Services

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

9th Floor, Icon Tower,

Baner – Mahalunge Road,

Baner, Pune-411045,

Maharashtra, India.

Phone:

U.S.: +1 424 253 0390

U.K.: +44 2071 939123

APAC: +91 744 740 1245

Emailsales@fortunebusinessinsights.com

Follow Us: LinkedIn | Facebook | Twitter

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.