The satellite communication (satcom) equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Satellite Communication SATCOM Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The satellite communication (satcom) equipment market size has grown rapidly in recent years. It will grow from $37.96 billion in 2023 to $42.92 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to expansion of satellite-based broadcasting, growth in military and defense satellite communication, increased demand for broadband connectivity, growth in remote sensing and earth observation, growing use of satellite technology in defense and government sectors.
The satellite communication (satcom) equipment market size is expected to see rapid growth in the next few years. It will grow to $74.25 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to deployment of high-capacity geostationary satellites, integration with 5g networks, demand for low earth orbit (leo) satellite constellations, expansion of satellite internet services, emphasis on secure satellite communication. Major trends in the forecast period include miniaturization of satellite communication equipment, use of software-defined satellite technology, hybrid satellite and terrestrial communication solutions, integration of artificial intelligence in satcom systems, adoption of high-frequency satellite bands for improved connectivity.
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Scope Of Satellite Communication SATCOM Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing number of mobile satellite services and small satellites is driving the growth of the satellite communication (SATCOM) equipment market. Mobile satellite services (MSS) offer two-way voice and data communications to people all over the world who are travelling or residing in remote areas. Widespread adoption of small satellites and mobile satellites is increasing as it gives the entire program crucial flexibility for earth science research missions. With the help of satellite communication equipment, small satellites help scientists advance scientific and human exploration, reduce the cost of new space missions, and expand access to space. For instance, in 2021, according to the National Aeronautics and Space Administration (NASA), a US-based government agency, around 1,282 spacecraft were launched, of which approximately 94% were small satellites that had an overall mass of less than 600 kg and 9% of total spacecraft were nanosatellites, which had an overall mass of less than 200 kg. Additionally, in 2020, small satellite deployment increased by 30%, and these satellites are primarily used for commercial, private, government, and academic institutes. Therefore, the increasing number of mobile satellite services and small satellites is driving the demand for the satellite communication (SATCOM) equipment market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The satellite communication (satcom) equipment market covered in this report is segmented –
1) By Satellite Type: Large Satellite (>2500 KG), Medium Satellite (501 – 2500 KG), Small Satellite (1 – 500 KG), Cubesat (0.27 – 27 Cubic Unit Of 103 Cm)
2) By Component Type: Amplifiers, Transceivers, Space Antennas, Transponders, Other Components
3) By Application: Navigation, Scientific Research, Communication, Remote Sensing, Other Applications
4) By End-Use: Commercial, Government and Military
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Regional Insights –
North America was the largest region in the satellite communication (SATCOM) equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite communication (satcom) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the satellite communication (satcom) equipment market report are SKY Perfect JSAT Holdings Inc, L3 Technologies Inc., SES S. A, Telesat LLC, Intelsat S. A., Viasat Inc., General Dynamics Corporation, Cobham Limited, Thuraya Telecommunications Company, Qualcomm Technologies Inc., EchoStar Corporation, Honeywell International Inc., Hughes Network Systems LLC, Boeing Company, General Dynamics Mission Systems Inc., Iridium Communications Inc., ASELSAN A. S., Intellian Technologies Inc., Campbell Scientific Inc., ST Engineering iDirect Inc., Thales Group, Raytheon Technologies Corporation, Inmarsat Communications, KVH Industries Inc., Orbcomm Inc., Cobham PLC, Maxar Technologies Inc., Viking SatCom Inc., Kepler Communications, Gilat Satellite Networks, Comtech Telecommunications Corp., GomSpace Group AB, NanoAvionics, AAC Clyde Space AB, Spaceflight Industries, Satellogic, Spire Global Inc., Planet Labs Inc., OneWeb Satellites, Blue Canyon Technologies
Table of Contents
1. Executive Summary
2. Satellite Communication SATCOM Equipment Market characterstics
3. Satellite Communication SATCOM Equipment Market Trends And Strategies
4. Satellite Communication SATCOM Equipment Market – Macro Economic Scenario
5. Global Satellite Communication SATCOM Equipment Market Size And Growth
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31. Global Satellite Communication (SATCOM) Equipment Market Competitive Benchmarking
32. Global Satellite Communication (SATCOM) Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Satellite Communication (SATCOM) Equipment Market
34. Satellite Communication (SATCOM) Equipment Market Future Outlook and Potential Analysis
35. Appendix
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