Dublin, March 17, 2022 (GLOBE NEWSWIRE) -- The "Global Satellite Data Services Market by Vertical (Energy & Power, Engineering & Infrastructure, Environmental, Agriculture, Maritime, Transportation & Logistics, Insurance), Service (Image Data, Data Analytics), End-Use, Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The satellite data services market was valued at USD 5.9 billion in 2021 and is projected to reach USD 16.7 billion by 2026, at a CAGR of 23.0% from 2021 to 2026.
The US government invests in every part of the smallsat ecosystem and is likely to continue investing, both at the upstream and downstream, which would positively impact the satellite data services market. The more interesting development is in the increasing investments in smallsats by other governments around the world.
In the last few years, the satellite data services market has evolved considerably. Especially, the supply side has seen new technologies and new systems being introduced into operation. In addition to the impact of cloud, the satellite data services industry finds itself at the junction of two revolutions, the one being the Big Data/AI and the other being the commercialization of space. This market is expected to have exponential growth owing to the surge in the demand for satellite imagery data throughout various industries.
In recent years, the satellite market has been experiencing advances in technology and the response of the marketplace have led to smaller sensors, satellites, and launch vehicles competent of performing valuable space missions at relatively low price. This new approach has led to an increase in the number of satellites being launched. CubeSats and Small Satellites are cheaper to manufacture in comparison to normal satellites and can be launched as a secondary payload on a rocket or larger launch vehicles that can deploy many satellites at a time into different orbits for specific verticals, such as energy & power, defense & security, agriculture, and forestry.
The report categorizes the satellite data services market by vertical as Energy & Power, Engineering & Infrastructure, Defense & Security, Environmental, Agriculture, Maritime, Forestry, Transportation & Logistics, Insurance, Academic and Research, and Others. Based on vertical, Agriculture segment to exhibit highest CAGR in satellite data service market, from 2021-2026 forecast period. It is because satellite imagery helps in assessing detailed estimation of crop conditions and yields, the health status of the crops, and quality of vegetation.
Key Topics Covered:
Executive Summary
- By Platform, Space Segment to Exhibit Highest CAGR in Satellite Antenna Market During Forecast Period
- By Antenna Type, Phased Array Segment to Lead Satellite Antenna Market During Forecast Period
- North America Estimated to Account for Largest Market Share in 2021
Premium Insights
- Attractive Growth Opportunities in Satellite Antenna Market - Use of Satellite Antenna Equipment for Tracking, Monitoring, and Surveillance Drives Market Growth
- Satellite Antenna Market, Platform - Airborne Segment Projected to Lead Satellite Antenna Market During Forecast Period
- Satellite Antenna Market, by Antenna Type - Phased Array Segment Projected to Lead Satellite Antenna Market During Forecast Period
- Satellite Antenna Market, by Component - Reflectors Segment Projected to Lead Satellite Antenna Market During Forecast Period
- Satellite Antenna Market, by Frequency - Ku-Band Segment Projected to Lead Satellite Antenna Market During Forecast Period
- Satellite Antenna Market, by Technology - SOTM Segment Projected to Lead Satellite Antenna Market During Forecast Period
- Satellite Antenna Market, by Country - Satellite Antenna Market in India Projected to Register Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Increasing Use of Electronically Steered Phased Array Antennas
- Increasing Launches of Satellites & Space Exploration Missions
- Increasing Demand for Satellite Antennas for Maritime Applications
- Increasing Demand for UAVs and Focus on Development of Compact Antenna Systems for UAV Platforms
- Increasing Defense Budget of Developing Countries
Restraints
- High Costs Associated with Development and Maintenance of Infrastructure to Support Satellite Antennas
- Issues Associated with Poor Transmission of Signals
Opportunities
- Development of Ultra-Compact Satellite Antennas for Advanced Ground Combat Vehicles
- Proposed Development of Satellite Networks for Internet Access in Remote Areas
- Integration of Satellite Antennas in Automobiles
- Demand for High Data Rate Transmission
Challenges
- Electromagnetic Compatibility-Related Challenges of Satellite Antennas
- High Cost of Satellite Services
- Radio Spectrum Availability Issues
- Lack of Qualified Workforce
Companies Mentioned
- Airbus
- Aselsan A.S.
- BAE Systems plc
- Ball Corporation
- Cesium Astro
- Cobham plc
- Collins Aerospace
- Datapath, Inc.
- Digisat International, Inc.
- Freefall Aerospace
- General Dynamics Corporation
- Gilat Satellite Networks
- Hanwha-Phasor
- Honeywell International Inc.
- Hughes Network Systems
- Intellian Technologies, Inc.
- Isotropic Systems
- Jettalk
- Kymeta Corporation
- L3Harris Technologies
- Lockheed Martin Corporation
- Maxar Technologies
- Micro-Ant
- Mitsubishi Electric Corporation
- ND Satcom
- Norsat International Inc.
- Orbit Communication Systems Ltd.
- Ruag International Holding Ltd.
- Satixfy
- Sat-Lite Technologies
- Taoglas
- Thales Group
- Thinkom Solutions, Inc.
- Viasat Inc.
- Viking Satcom Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/i6ygz6
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