Global Satellite Communication (SATCOM) Market Overview:
The latest report by IMARC Group, titled “Satellite Communication (SATCOM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the satellite communication (SATCOM) market forecast. The report also includes competitor and regional analysis, and contemporary advancements in the market.The global satellite communication (SATCOM) market is expected to exhibit a CAGR of 9.2% during 2023-2028.
Satellite communication (SATCOM) is an artificial satellite-based communication system that supports data link channels. It includes the transmission of radio waves through satellites to capture and process the information through antennas and transponders installed at different locations on Earth. It consists of a data unit, high power amplifier, antenna, and a steerable beam that transmits the information in voice, audio and video formats through electromagnetic waves and carrier signals. Owing to these properties, SATCOM finds extensive applications across various industries for radio broadcasting, navigation, remote sensing, and weather monitoring.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
Global Satellite Communication (SATCOM) Market Trends:
The market is primarily driven by the expanding aerospace and aviation industries. In addition, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and the introduction of portable SATCOM systems that enable the smooth functioning of autonomous vehicles, and the deployment of remote and terrestrial networks represent another major growth-inducing factor.
Besides this, SATCOM is widely utilized in the military and defense sector for wide area network (WAN) communications, cellular backhaul, internet trucking, television broadcasting and rural telephony. This, coupled with increasing partnerships and mergers and acquisitions (M&As) among key players, is also contributing to the market growth. For instance, Viasat, Inc. signed a partnership agreement with SKY Brazil, one of Brazil’s leading satellite pay-TV operators, in January 2021 to expand the availability of dependable and fast satellite internet throughout Brazil. Furthermore, significant developments in telecommunication infrastructure and the rising utilization of cloud-based services for ground mobility platforms are creating a favorable market outlook across the globe.
Global Satellite Communication (SATCOM) Market 2023-2028 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Cobham Limited
- EchoStar Corporation
- General Dynamics Corporation
- Gilat Satellite Networks
- Honeywell International Inc.
- L3Harris Technologies Inc.
- SES S.A
- SKY Perfect JSAT Holdings Inc
- Telesat (Loral Space & Communications Inc.)
- Thuraya Telecommunications Company (Al Yah Satellite Communication Company)
- Viasat Inc.
Also Read Full Blog: Top Satellite Communication Companies in Worldwide
Breakup By Component:
- Voice Communication
- Data Communication
Breakup By End-Use Industry:
- Aerospace and Defense
- Transportation and Logistics
- Government and Military
- Media and Entertainment
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.