Newark, NJ, Aug. 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global VSAT (Very Small Aperture Terminal) market is expected to grow from USD 8.84 billion in 2019 to USD 15.76 billion by 2027, at a CAGR of 7.5% during the forecast period 2020-2027.
The VSAT market is driven by many key factors, such as the growing demand for on-the-move VSAT solutions and the rising demand for VSAT systems in the maritime industry. VSATs have various applications such as transmitting broadband data (e.g., satellite Internet access in remote locations, video, VoIP) and narrowband data (e.g., POS credit card transactions, SCADA, RFID data). VSATs are also used for mobile, on-the-move communications, high-frequency trading and data management.
VSAT or Very Small Aperture Terminal refers to a two-way satellite communication system. The dish of this system is generally smaller than 3.8 meters. Weather can negatively impact the efficiency of a VSAT system. VSAT networks are usually configured in one of three topologies; star, mesh or hybrid. Hybrid topology can combine both the strengths of star and mesh topology and obtain superior data reliability & high tolerance capabilities.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the VSAT market. With less disposable income and broken supply chains, the growth of the market is expected to slow down. Another factor that is hampering the growth of this market is cybersecurity issues. In 2014, severe vulnerabilities in a prominent VSAT system were identified by a US-based security firm which would allow hackers to manipulate, block, intercept, and even take full control of the network.
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Key players operating in the global VSAT (Very Small Aperture Terminal) market include Gilat Satellite Networks, Inmarsat Global Limited, L3Harris Technologies, Viasat Inc, and Orbit Communication System, among others. To gain the significant market share in the global VSAT market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Gilat Satellite Networks and L3Harris Technologies are some of the biggest manufacturers and suppliers of VSATs in the global market.
- For instance, L3Harris Technologies Inc was awarded a USD 100 million contract from the USSOCOM (United States Special Operations Command) in January 2020 for VSAT upgrades.
VSAT dominated the market and held the largest market share of 68.9% in the year 2019
The type segment includes standard VSAT and USAT. USAT stands for Ultra Small Aperture Terminal, whereas VSAT stands for Very Small Aperture Terminal. VSAT dominated the market and held the largest market share of 68.9% in the year 2019. VSAT has a wide range of applications in civil and military.
Rugged VSAT is forecasted to grow at the highest CAGR over the projected period
The design segment includes rugged VSAT and non-rugged VSAT. Rugged VSAT is forecasted to grow at the highest CAGR over the projected period. This growth is due to the factors such as its growing demand in high-risk environments & remote locations corresponding to sectors like defence, aviation and maritime.
Ku-band is forecasted to grow at the highest CAGR over the projected period
The frequency segment includes L-band, C-band, S-band, X-band, Ka-band, and Ku-band. Ku-band is forecasted to grow at the highest CAGR over the projected period. However, Ka-bands transmit data much faster than Ku-bands.
Hybrid topology is forecasted to grow at the highest CAGR over the projected period
The network architecture segment includes point-to-point links, mesh topology, star topology, and hybrid topology. Hybrid topology is forecasted to grow at the highest CAGR over the projected period. This growth is mainly attributed to the advantage of hybrid topology to combine both the strengths of star and mesh topology and obtain superior data reliability & high tolerance capabilities.
Equipment dominated the market and held the largest market share of 41.51% in the year 2019
The solution segment includes equipment, connectivity services, and support services. Equipment dominated the market and held the largest market share of 41.51% in the year 2019. This segment is further divided into Out-Door Unit (ODU), Antenna Control Unit (ACU), In-Door Unit (IDU), mount, and others.
Land VSAT dominated the market and valued at USD 5.27 Billion in the year 2019
The platform segment includes land VSAT, airborne VSAT, and maritime VSAT. Land VSAT dominated the market and valued at USD 5.27 billion in the year 2019. This is primarily due to its civil applications in telecommunications and military applications.
Broadband/data networks dominated the market and held the largest market share of 35.25% in the year 2019
The end-use segment includes private network services, broadband/ data networks, voice communications, broadcast, and others. Broadband/data networks dominated the market and held the largest market share of 35.25% in the year 2019. This segment is also expected to grow at the highest rate over the forecast period due to factors like the increasing need for efficient & fast broadband connectivity.
Maritime dominated the market and valued at USD 923.78 million in the year 2019
The vertical segment includes aviation, healthcare, voice communications, agriculture & forestry, energy & power, education, mining & construction, BFSI, automotive, media & entertainment, manufacturing, retail, transportation & logistics, government & defence, telecommunication, maritime, and others. Maritime dominated the market and valued at USD 923.78 million in the year 2019. VSAT has a diverse range of maritime applications like fleet management, regulatory reporting, ship-to-shore communications, and mobile connectivity of ships.
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Regional Segment Analysis of the VSAT (Very Small Aperture Terminal) Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global VSAT (Very Small Aperture Terminal) market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The APAC region is expected to grow at the highest CAGR during the forecast period due to higher demand for advanced VSAT systems used in maritime applications.
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About the report:
The global VSAT (Very Small Aperture Terminal) market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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