New York, United States, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The Global Satellite Communication (SATCOM) Equipment Market Size is to grow from USD 21.37 Billion in 2022 to USD 52.87 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.5% during the projected period. The Satellite Communication (SATCOM) Equipment Sector has expanded substantially in recent years. The increasing launch of low earth orbit (LEO) satellites and satellite constellations for communications applications can be attributed to the market's growth.
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The global satellite communication (SATCOM) equipment market is a growing and dynamic industry that helps to facilitate global communication. SATCOM equipment refers to the various technological devices and systems used to transmit, receive, and process satellite signals, allowing voice, data, video, and internet communications between distant locations regardless of terrestrial infrastructure limitations. As the number of satellites launched has increased in recent years, the global satellite communication (SATCOM) equipment market for space is growing rapidly. SATCOM equipment includes electronic components such as amplifiers, space antennas, and transceivers, which enable communication with satellites in Earth orbit or space. Because of rising demand for high-speed connectivity in a variety of industries, including telecommunications, government and defense, aerospace, maritime, media and entertainment, and emergency response services, the SATCOM equipment market has grown significantly in recent years. These industries rely heavily on satellite communications for dependable communication, remote sensing, weather monitoring, navigation, and real-time data exchange. However, some governments may restrict the use of certain frequency bands or require a license to use satellite communication systems.
Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on "Global Satellite Communication (SATCOM) Equipment Market Size, Share, and COVID-19 Impact Analysis, By Solution (Products and Services), By Platform (Airborne, Portable, Land Mobile, Land Fixed, Maritime), By Technology (SOTM/COTM, SOTP), By Vertical (Commercial, Government & Defense), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The products segment is expected to grow at the fastest pace in the global satellite communication (SATCOM) equipment market during the forecast period.
The global satellite communication (SATCOM) equipment market is divided into products and services based on solution. Among these, the products segment in the global satellite communication (SATCOM) equipment market is projected to expand at the highest pace throughout the forecast period. The increase can be attributed to increased demand for phased-array antenna systems in naval and airborne platforms during the forecast period.
The airborne segment is expected to hold the largest share of the global satellite communication (SATCOM) equipment market during the forecast period.
The global satellite communication (SATCOM) equipment market is classified into airborne, portable, land mobile, land fixed, and maritime platforms. The airborne segment is projected to account for the majority of the global satellite communication (SATCOM) equipment market throughout the forecast period. The increase can be attributed to North American and European countries focusing on upgrading and overhauling their aircraft communication systems through the use of customized SATCOM on-the-move solutions.
The SATCOM-on-the-move (SOTM) segment is expected to hold the largest share of the global satellite communication (SATCOM) equipment market during the forecast period.
The global satellite communication (SATCOM) equipment market is divided into two segments based on technology: SOTM/COTM and SOTP. The SATCOM-on-the-move (SOTM) segment is projected to account for the majority of the global satellite communication (SATCOM) equipment market throughout the forecast period. Technological advancements that incorporate lightweight, precise, and efficient systems into communication systems could propel the growth of the SATCOM-on-the-move (SOTM/COTM) segment.
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North America accounted for the largest share of the global satellite communication (SATCOM) equipment market in 2022.
The rise in 5G satellite launches can be attributed to the expansion of the SATCOM equipment market in the United States. Increased small satellite launches for scientific research and development are expected to drive the market in Canada. North American governments are heavily investing in satellite communication infrastructure in order to bridge the digital divide and provide reliable communication services to remote areas.
During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global satellite communication (SATCOM) equipment market. A major driver that propels the Asia Pacific market is rising demand for launch and early orbit support, TT&C services, and data handling and processing services.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Satellite Communication (SATCOM) Equipment Market include EchoStar Corporation, L3Harris Technologies, Thales Group, Raytheon Technologies Corporation, General Dynamics Corporation, Honeywell International Inc., Cobham Satcom, Viasat, Inc., Maxar Technologies, Antwerp Space, Oxford Space Systems, Airbus SE, and Others.
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Recent Developments
- In April 2023, ASELSAN disclosed the completion of the delivery of a Satellite Communication System manufactured for the AKINCI Armed UAV. After the Presidency of Defence Industries (SSB) and ASELSAN signed a contract for Air Satellite Communication Terminals and Portable Satellite Communication Systems, the system was completed in six months.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Satellite Communication (SATCOM) Equipment Market based on the below-mentioned segments:
Global Satellite Communication (SATCOM) Equipment Market, By Solution
- Products
- Services
Global Satellite Communication (SATCOM) Equipment Market, By Platform
- Airborne
- Portable
- Land Mobile
- Land Fixed
- Maritime
Global Satellite Communication (SATCOM) Equipment Market, By Technology
- SOTM/COTM
- SOTP
Global Satellite Communication (SATCOM) Equipment Market, By Vertical
- Commercial
- Government & Defense
Global Satellite Communication (SATCOM) Equipment Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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