Market Analysis and Insights:
The market for satellite communications is anticipated to increase at a CAGR of 9.5% from US$ 78.23 billion in 2022 to US$ 192.10 billion by 2032.
Due to the advantages of satellite transmission sale, the entire region has extremely good coverage, even in less inhabited areas. Satellite communications makes it simple to put up mobile and wireless applications anywhere.
Satellite Communications Market Scope :
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 192.10 billion |
| Growth Rate | CAGR of 9.5% during 2022-2032 |
| Segment Covered | by Type ,By Application, by Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America Middle East and Africa |
| Key Players Profiled | Inmarsat Communications, Orbcomm, ViaSat, Cobjam Limited, Gilat Satellite Networks, Thales Group, SKY Perfect JSAT Group, Telesat & among others |
Market Definition
Satellite communication is the worldwide transfer of information using artificial satellites sent into Earth's orbit, sending and relaying data from one location to another.
Satellite communication is a strong and adaptable technology with several uses. It is a critical component of the global AI in telecommunications infrastructure and will likely play a larger role in the future.
Key Market Segmentation:
Insights on Type:
The SATCOM Transceiver Segment is growing at the fastest growth rate
During the forecast period, the SATCOM transceiver segment is predicted to increase at the quickest pace. This is due to the growing need for high-performance, dependable transceivers in a wide range of applications, including marine communications, military communications, and business communications.
It is also anticipated that the SATCOM modem category would grow considerably throughout the forecast period. This is because new communication technologies like 5G and high-speed modems are becoming more and more necessary.
Insights on Application:
The Land Fixed SATCOM Equipment Segment is boosting
During the projected period, the land-fixed SATCOM equipment sector is predicted to increase at the quickest pace. This is because there is a growing need for satellite communication in corporate networks, government networks, and critical infrastructure applications.
During the projected period, the airborne SATCOM equipment market is also predicted to increase significantly. This is owing to an increase in satellite communication demand in commercial aircraft, military aviation, and unmanned aerial vehicles (UAVs).
Insights on Region Analysis:
The Asia Pacific region is boosting
• In developing nations, there is an increasing need for satellite communication: Satellite communication is rapidly being used by developing nations in the Asia-Pacific region to link rural regions and distant people.
• Growing investments in satellite infrastructure: In the Asia-Pacific area, governments and private corporations are spending extensively on satellite infrastructure, including satellites and ground stations. The increased demand for satellite communication and the need to expand connectivity in the area are driving this.
• Rising need for satellite communication for a wide range of applications: In the Asia-Pacific area, satellite communication is utilized for a range of purposes, including mobile broadband, marine communications, and disaster assistance. The need for these applications is likely to increase in the future years, driving the expansion of the region's satellite communication market.
Company Profiles:
Some of the key players in the market are Inmarsat Communications, Orbcomm, ViaSat, Cobjam Limited, Gilat Satellite Networks, Thales Group, SKY Perfect JSAT Group, Telesat & among others
COVID-19 Impact and Market Status
Decline in demand of the market
Demand for various services has decreased: The pandemic has reduced demand for several satellite communication services, like as passenger air travel and live events. This is owing to the fact that these services need individuals to be physically present, which has been reduced due to the pandemic.
Demand for additional services has increased as a result of the epidemic, as has demand for other satellite communication services like remote working and telemedicine. This is due to the fact that these services enable individuals to remain connected and work or get medical treatment even when they are not physically present.
Supply chain disruption: The epidemic has also impacted supply chains for satellite communication equipment and services. This has resulted in delivery delays and pricing increases.
Increased investment in new technologies: As a result of the epidemic, there has been a surge in investment in new satellite communication technologies, such as low Earth orbit (LEO) constellations. Because of the epidemic, these constellations are intended to offer high-speed, low-latency communication services.
The COVID-19 epidemic has had a mixed influence on the satellite communications business overall. However, the pandemic's long-term consequences remain unknown. The pandemic might result in a lasting alteration in how people utilize satellite communication systems.
Latest Trends and Innovation:
• SpaceX will launch its first set of Starlink satellites in 2021. A constellation of low-Earth orbit (LEO) satellites called Starlink is designed to provide high-speed, low-latency internet access to people worldwide. Since then, SpaceX has launched more than 2,000 Starlink satellites, out of a planned total of 12,000 satellites.
• Amazon revealed intentions to deploy its own LEO satellite constellation, Kuiper, in 2022. Kuiper is anticipated to include over 3,200 satellites and is meant to serve individuals in rural and distant places with high-speed, low-latency internet connectivity.
• OneWeb will launch its first set of LEO satellites in 2023. OneWeb is a British startup that plans to deploy a LEO satellite network to give people all over the globe high-speed, low-latency internet connectivity. Since then, OneWeb has launched over 420 satellites and aims to launch up to 648 in total.
• Telesat revealed intentions to deploy its own LEO satellite constellation, Lightspeed, in 2023. Lightspeed is projected to contain over 292 satellites and is meant to serve consumers in North America, South America, and Europe with high-speed, low-latency internet access.
Significant Growth Factors:
The satellite communications business is active and expanding. The market is likely to expand further in the future years, driven by rising connection demand, the expansion of IoT, and the development of new technologies.
• The growing need for connection in distant and rural locations: As more people live and work in remote places, so does the demand for satellite communication services.
• The Internet of Things (IoT) is expanding: The Internet of Things (IoT) is a network of physical devices that are linked to the internet. Satellite communication is an important facilitator of the Internet of Things because it can link devices in faraway locations.
• The rising popularity of mobile satellite communications: People can keep connected while on the road thanks to mobile satellite communications. Because of the growing popularity of remote working and telemedicine, this is in great demand.
• New technologies, such as LEO constellations, are advancing: LEO constellations are a new form of satellite constellation that provides high-speed, low-latency communication services. In the future years, these constellations are projected to have a substantial influence on the satellite communications industry.
• The growing need for satellite-based services in the marine, aviation, and defense sectors: These industries are increasingly reliant on satellite communication services for a wide range of applications, including navigation, communication, and surveillance.
• The rising popularity of video streaming and other high-bandwidth applications is boosting demand for high-speed, dependable satellite communication services.
Restraining Factors:
The cost of launching and operating satellites is significant, which might raise the cost of satellite communication services.
• Limited bandwidth: Because satellite bandwidth is limited, the quantity of data that may be delivered is limited.
• Latency: Satellite communication has a significant latency (delay), which makes it inappropriate for certain applications, such as real-time video streaming.
• Weather factors, such as solar flares and rain, might interfere with satellite communication.
• Satellite communication may be exposed to security threats such as hacking and jamming.
Key Segments Satellite Communications Insights
By Type
• SATCOM Transceiver
• SATCOM
• Modern
• SATCOM Transponder
• SATCOM Antenna
By Application
• Land Fixed SATCOM Equipment
• Airborne SATCOM Equipment
• Airborne SATCOM Equipment
Regional Overview
North America
• U.S
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Frequently Asked Questions (FAQ) :
The global satellite communications market size is expected to reach US$ 192.10 billion by 2032.
Asia-Pacific dominated the market for satellite communications market and accounted for the largest revenue share.
The top companies that hold the market share in Inmarsat Communications, Orbcomm, ViaSat, Cobjam Limited, Gilat Satellite Networks, Thales Group, SKY Perfect JSAT Group, Telesat & among others.
To get latest version of satellite communications market report can be obtained on demand from the website.
The base year for the report is 2023 in satellite communications market.