Pune, India, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The global optical satellite communication market size was valued at USD 1.51 billion in 2022 and is projected to grow from USD 1.77 billion in 2023 to USD 5.12 billion by 2030, exhibiting a CAGR of 16.4% during the forecast period.
Data relay satellites prominently use optical communication, which drives the market growth. For remote sensing, earth observation, and other data, countries such as China, Japan, Russia, and the U.S., have demonstrated inter-satellite communication for transmission. Fortune Business Insights™ presents this information in their report titled "Optical Satellite Communication Market, 2023–2030."
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List of Key Players Profiled in the Optical Satellite Communication Market Report:
- Ball Corporation (U.S.)
- BridgeComm, Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- Laser Light Communications (U.S.)
- Mynaric (Germany)
- NEC Corporation (Japan)
- Surrey Satellite Technology (U.K.)
- Starlink (U.S.)
- Thales Group (France)
- Tesat-Space GmbH & Co. KG (Germany)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 16.4% |
| 2030 Value Projection | USD 5.12 billion |
| Market Size in 2023 | USD 1.77 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 188 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Optical Satellite Communication Market Growth Drivers | Technological Advancements and Benefits over Conventional Systems Boost Market Growth |
| The development of Ground Infrastructure to Support Optical Satellite Communication is Anticipated to Drive Market Growth |
Browse Detailed Summary of Research Report with TOC:
COVID-19 Impact:
Delays in Satellite Launches by Several Space Organizations Stifled the Market
During the pandemic, space organizations globally suffered economic losses as satellite launches were delayed or postponed. The global optical satellite communication market was disrupted in 2020 as governments announced a temporary and complete shutdown of production affecting the industry.
Segments:
Growing Use of CO2 Laser in Satellite Communication Drives Segmental Growth
Based on laser type, the market is divided into YAG laser, CO2 laser, Silex laser, and others. Rising compliance of CO2 laser in satellite communications by offering efficient platform for data transmission dominates the market.
Telecommunications Segment to Dominate due to High Broadcasting Demand
By application, the market is categorized into telecommunication, tracking & monitoring, surveillance & security, space exploration, earth observation, and others. Increased demand for broadcasting services will contribute to the dominance of the telecommunication segment during the forecast period.
Importance of Components in Satellite Communication Systems to Spur Transmitters Growth
Based on components, the market is classified into receiver, transmitter, antenna, modular, and others. Due to its importance in electronic devices, the transmitter segment is expected to grow with a significant growth rate in the optical satellite communication industry during the forecast period.
Geographically, the market is studied across North America, Europe, Asia Pacific, and Rest of the World.
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Report Coverage:
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Optical Inter Satellites’ Superiority to Expand Market Share
Due to its several advantages, numerous companies are concentrated on developing projects in association with optical inter satellite communications. These projects are anticipated to increase the markets share for optical satellite communication. For its Starlink internet service, SpaceX deployed 2,000 satellites and are prepared to advance to new heights.
On the contrary, clouds can cause signal attenuation as they are capable of absorbing and scattering laser beams, which may hamper the optical satellite communication market growth.
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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 – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Impact of COVID-19 Pandemic on Global Optical Satellite Communication Market
- Global Optical Satellite Communication Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Segmental Definitions
- Market Analysis, Insights and Forecast – By Laser Type
- YAG Laser
- Silex Laser
- CO2 Laser
- Others
- Market Analysis, Insights and Forecast – By Application
- Telecommunication
- Tracking & Monitoring
- Surveillance & Security
- Space Exploration
- Earth Observation
- Others
- Market Analysis, Insights and Forecast – By Component
- Transmitter
- Receiver
- Antenna
- Modular
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…!
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Regional Insights
North America Leads Due to Rising Space Exploration Activities
In 2022 North America dominated the market with a valuation of USD 0.71 billion. The region is expected to continue its dominance due to growing space exploration activities and the high adoption of optical communication satellites.
Europe holds the second-largest optical satellite communication market share due to its specialized application for military and scientific purposes.
Competitive Landscape
Strategic Partnerships and Innovations in Small sats to Propel Market Growth
The presence of market leaders fragments the optical satellite communication industry. Companies focus on increasing the market’s share by developing payloads for CubeSats and small sats. Nokia and Laser Light Communications have collaborated for the first phase of beta deployment of its optical software-defined network in various global locations.
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Key Industry Development:
June 2022 - BlueHalo was awarded a contract to deliver optical laser communications terminals for the Air Force Research Laboratory at Kirtland Air Force Base to demonstrate on-orbit processing of satellite positioning and timing.
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