Space Ground Station Equipment Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Space Ground Station Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Space Ground Station Equipment Global Market Report 2024, The space ground station equipment market size has grown strongly in recent years. It will grow from $9.49 billion in 2023 to $10.35 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to satellite communication expansion, increased satellite constellations, earth observation and remote sensing, scientific and space exploration missions, commercial satellite services.

The space ground station equipment market size is expected to see strong growth in the next few years. It will grow to $14.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to emergence of small satellite market, rise in satellite mega-constellations, increased space traffic and management, global 5g deployment from space, government and defense space programs. Major trends in the forecast period include utilization of cloud-based ground stations, focus on cybersecurity measures, deployment of deep learning for signal processing, integration of automated tracking and telemetry systems, rise of interoperable ground station architectures.

The increasing demand for satellite communication networks is expected to propel the growth of the space ground station equipment market going forward. The satellite communication network is a man-made satellite network that sends information via a transponder by opening a channel between a transmitter and a receiver at various Earth points. This allows a ground station to monitor a satellite’s location and manage its propulsion, thermal, and other systems. Hence, the increasing demand for satellite communication networks contributes to the growth of space ground station equipment. For instance, in March 2022, according to Pixalytics Ltd, a UK-based earth observation company, there were 3135 communication network satellites in 2022, an increase of 71.12% from December 2020. Therefore, the increasing demand for satellite communication networks is driving the growth of the space ground station equipment market.

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The space ground station equipment market covered in this report is segmented –

1) By Type: Consumer Equipment, Network Equipment

2) By Satellite Communication Service: Fixed Satellite Services, Mobile Satellite Services

3) By Application: Communication, Earth Observation, Navigation

4) By End User: Consumer, Government And Military, Commercial, Enterprise

Technological advancements are a key trend gaining popularity in the space ground station equipment market. Companies operating in the space ground station equipment market are adopting new technologies to sustain their position in the market. For instance, in April 2021, Terrasat Communications, a US-based company that designs and manufactures innovative RF solutions for Satellite Communications systems, launched new Cyber Hardened Intelligent BUCs. The new IBUCs efficiently provide security management control through encrypted authentication, privacy, and access control to ensure end-to-end message delivery by preventing session hijacking, password attacks, and eavesdropping.

The space ground station equipment market report table of contents includes: