Pune, India, July 05, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Satellite Communication Terminal Market Size Report, Growth, Industry Trends, and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Classification, Application, and Satellite Type," the market is expected to grow from US$ 4.2 Billion in 2023 to US$ 6.0 Billion by 2028; it is estimated to register a CAGR of 7.3% from 2023 to 2028.
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Global Satellite Communication Terminal Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 4.2 billion in 2023 |
| Market Size Value by | US$ 6.0 billion by 2028 |
| Growth rate | CAGR of 7.3% from 2023 to 2028 |
| Forecast Period | 2023-2028 |
| Base Year | 2023 |
| No. of Pages | 227 |
| No. of Tables | 82 |
| No. of Charts & Figures | 84 |
| Historical data available | Yes |
| Segments covered | Classification, Application, and Satellite Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Airbus; AVL Technologies; Collins Aerospace; General Dynamics Mission Systems, Inc.; Honeywell International Inc.; L3Harris Technologies, Inc.; NEC Corporation; ST ENGINEERING; Thales Group; and Viasat, Inc. |
Browse key market insights spread across 227 pages with 82 list of tables & 84 list of figures from the report, "Satellite Communication Terminal Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Classification (C Band, X Band, S Band, Ku Band, and Ka Band), Application (Military Use and Civil Use), and Satellite Type (GEO, MEO, and LEO)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/satellite-communication-terminal-market
According to SIPRI, China's military spending in 2022 was US$ 292 billion, which is a rise of 4.2% compared to 2021. In 2022, India's military spending was US$ 81.4 billion, which is a rise of 6% compared to 2021. Singapore spent almost US$ 11.7 billion on military expenditure in 2022, an increase of 2.8% from 2021. Considering the procurement of new aircraft and the development of new technologies in nations such as India, China, and South Korea, several opportunities are being created for satellite communication terminals. Singapore is the first country in Asia Pacific that become completely digital for video content delivery since January 2019. Over-the-top (OTT) is becoming very popular in Asia Pacific due to the wide variety of content and tailored genre for the regional audience. Thus, with the rapidly expanding telecommunication sector, increasing military spending, and growing media & entertainment industry, the Asia Pacific satellite communication terminal market is expected to grow promisingly in the coming years.
Japan's satellite communication terminal market has grown considerably in the past few years. The Ministry of Defense in the country uses the Ku and Ka bands (high-capacity communication) for sending images from helicopters and communicating with ships. The X band (mid-capacity communication) of the Superbird Satellites is utilized especially by the Japan Self-Defense Forces and Ministry of Defense of Japan for communicating with aircraft and naval vessels. In October 2021, Intellian's C700 Iridium Certus terminal was approved for use in the country. The C700 is known to be the first Iridium Certus terminal that is approved for the Japanese maritime market. The C700 L-band solution, a suitable VSAT companion for commercial vessels, offers out-of-the-box downlink speeds of 704kbps and uplink speeds of 352kbps. In May 2021, Japanese operator NTT and SKY Perfect JSAT announced their plan to work together for developing an integrated computing network in space, which includes space-based data centers. Thus, the growing aerospace & defense sector drives the satellite communication terminal market growth in Japan.
Global Satellite Communication Terminal Market: Competitive Landscape and Key Developments
Airbus; AVL Technologies; Collins Aerospace; General Dynamics Mission Systems, Inc.; Honeywell International Inc.; L3Harris Technologies, Inc.; NEC Corporation; ST ENGINEERING; Thales Group; and Viasat, Inc. are among the key players profiled in the report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which can help major players strategize their growth.
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In 2023, the Egyptian Ministry of Military Production (MoMP) signed a deal with the U.S. defense company General Dynamics to procure mobile SATCOMs-on-the-move 20M (SOTM) communication terminals.
In 2022, Viasat announced that Federal Aviation Administration (FAA) approved the company's Ka-band in-flight connectivity (IFC) solution for Gulfstream G450 aircraft, a large cabin jet often deployed on long-distance, international expeditions.
Global Satellite Communication Terminal Market: Classification Overview
Based on classification, the satellite communication terminal market is segmented into C band, X band, S band, Ku band, and Ka band. The S band segment accounted for the largest satellite communication terminal market share in 2022, as it is adaptable and powerful, making it a suitable technology for various public-facing applications, including communication.
Based on region, the satellite communication terminal market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. According to the satellite communication terminal market share, the Asia Pacific is expected to register the highest CAGR during the forecast period.
The Asia Pacific satellite communication terminal market is characterized by emerging economies, growing urbanization, vast industrialization, improved standard of living, a high penetration rate of advanced technologies, and the presence of a large young population. The region has become a lucrative hub for connectivity solutions in the past few years. One of the main reasons for this development is the vast population representing ~60% of the world's total population. The region has a significant opportunity for direct-to-home (DTH) service providers as the rural population does not have access to the terrestrial TV network, and the channel services via cable networks are limited. Telecommunication is a crucial sector that drives the demand for satellite communication terminals in the region. In January 2020, Sichuan Hospital in China became the first hospital to use a commercial 5G medical private network. The rising demand for high-speed connectivity is fueling the satellite communication terminal market growth in APAC.
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