0

Satellite Communication Market Expected to Reach $99.59 Billion by 2027—Allied Market Research

 
2022
Satellite Communication Market

Report Code : A10519

quote By component, the services segment dominated the global satellite communication market in 2019, in terms of revenue, and is expected to lead the market throughout the forecast period. By application, the data communication segment is anticipated to show a lucrative growth during the forecast period. By end-use industry, the media segment dominated the satellite communication market in 2019, in terms of revenue. At present, Europe is the highest revenue contributor, followed by Asia-Pacific. quote

Mayank Halmare
Lead Analyst, Aerospace and Defense at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, Satellite Communication Market by Application, Component, and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global satellite communication market was valued at $56.01 billion in 2019, and is projected to reach $99.59 billion by 2027, registering a CAGR of 9.2% from 2020 to 2027.

Europe dominates the market in terms of revenue, followed by Asia-Pacific, North America, and LAMEA. U.S. dominated the global satellite communication market share in 2019, and is expected to grow at a significant rate during the forecast period, owing to the presence of robust manufacturing and development infrastructure for satellite communication systems in the country. Satellite communication is the communication technology that comprises the use of artificial or man-made satellites as a communication link for propagation of communication. Multiple types of satellite communication services such as voice communication, broadcasting, and data communication services are implemented by maritime, aerospace & defense, industrial, government, and other end users depending on the requirement of the industry.

The satellite communication offers affordable, faster, and easier communication services, which can be made available to millions of people and at remote or rural areas.

On the basis of application, the satellite communication market is segregated into voice communication, broadcasting, and data communication. The broadcasting segment dominated the application segment in 2019, owing to the development of advanced satellite broadcasting service technologies namely X band (8–12 GHz) and Ku band (12–18 GHz). The voice communication segment is gaining popularity, owing to rise in mobile users and increase in mobile voice communication providers. The rise in need for quick and reliable data communication solutions has led to the growth of data communication satellite communication segment over the years.

By component, the market is categorized into equipment and services. The services segment accounted for the highest revenue in 2019, owing to increase in internet traffic worldwide.  The rise in demand for broadband services in the areas secluded from the reach of terrestrial networks further increases the demand for satellite communication service around the world. Evolution of satellite communication equipment such as VSAT Antennas, Satcom on the Move (SOTM) equipment, solid state power amplifiers (SSPA), and other equipment improves the agility of deployment of satellite communication.

Globalization and expansion of business overseas increases the demand for global connectivity solutions, which is anticipated to promote the growth of the satellite communication market. The adoption of advanced and secure communication technologies by multinational and domestic organizations and institutions boosts the development of satellite communication equipment. Moreover, rise in deployment of satellites by commercial and private companies also acts as the driver for the satellite communication equipment market. 

Factors such as increase in Internet of Things (IoT) and autonomous systems and rise in demand for military and defense satellite communication solutions are expected to drive the growth of the global satellite communication market. However, the factors such as the cybersecurity threats to satellite communication and the interference in satellite data transmission are expected to restrain the growth of the market during the forecast period. Furthermore, technological advancements in satellite missions are expected to offer potential opportunities for the global satellite communication market during the forecast period.

Key Findings Of The Study

  • By application, the data communication segment is anticipated to exhibit significant growth in the near future.
  • By component, the equipment segment is expected to register a significant growth during the forecast period.
  • By end-use industry, the aerospace and defense segment is projected to lead the global satellite communication market owing to higher CAGR as compared to other end-use industries.
  • By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global satellite communication market include Al Yah Satellite Communication Company PJSC (Yahsat), Cobham Ltd, EchoStar Corporation, General Dynamics Corporation, Gilat Satellite Networks Ltd., Inmarsat Global Limited, L3Harris Technologies, Inc., SES S.A., SKY Perfect JSAT Holdings Inc., Telesat Canada, and Viasat, Inc.
 

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Satellite Communication Market by Application (Voice Communication, Broadcasting, and Data Communication), Component (Equipment and Services), and End-Use Industry (Maritime, Aerospace & Defense, Industrial, Government, Transportation & Logistics, Media, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Oct 2024

Digital Substation Market

Download Sample
rep-img

Published Date Oct 2024

Argan Oil Market

Download Sample
rep-img

Published Date Oct 2024

Cold Plasma Market

Download Sample

Buy Full Version
"Satellite Communication Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers