Satellite Connectivity Market to Reach $22.12 Billion, Globally, by 2031 at 7.3% CAGR: Allied Market Research

Rise in government investment in space exploration and increase in satellite launches drive the global satellite connectivity market.

PORTLAND, Ore., Aug. 12, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, Satellite Connectivity Market by Component (Video, Fixed, Mobility), by Orbit (Elliptical, GEO, LEO, MEO), by End User (Civil and Earth Observation, Government and Military, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global satellite connectivity industry was pegged at $11.12 billion in 2021, and is expected to reach $22.12 billion by 2030, growing at a CAGR of 7.3% from 2022 to 2031.

Major determinants of the market growth

Increase in government investment in space exploration and surge in satellite launches have boosted the growth of the global satellite connectivity market. In addition, increase in adoption of satellite constellation supplemented the market growth. However, high initial investment and stringent government regulations regarding satellite launches hinder the market growth. On the other hand, surge in demand for satellite data and growing integration of artificial intelligence, machine learning, and cloud computing are expected to open new opportunities in the future. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. 

Download Report (310 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/17488

Covid-19 scenario:

  • The Covid-19 pandemic had a negative impact on the market. The outbreak forced governments to implement strict lockdown and ban import and export activities of raw materials.
  • The prolonged lockdown led to dearth of raw materials for manufacturing satellite connectivity component.
  • Adverse impacts of Covid-19 pandemic resulted in delays in initiatives and activities regarding development of advanced satellite connectivity components.

The fixed segment to manifest the highest CAGR through 2031

By component, the fixed segment is estimated to portray the highest CAGR of 8.9% during the forecast period, due to rise in demand for satellite connectivity for fixed services throughout the world. However, the video segment held the largest share in 2021, accounting for around half of the global satellite connectivity market, and is expected to continue its dominance throughout the forecast period. This is owing to high demand for satellite connectivity for video throughout the world.

Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/17488

The LEO segment dominated the market

By orbit, the LEO segment held the largest share in 2021, contributing to nearly three-fifths of the global satellite connectivity market, and is expected to maintain leading position during the forecast period. In addition, the segment is projected to manifest the highest CAGR of 8.1% during the forecast period, owing to rise in satellite launches in the LEO orbit by several private players globally.  

The commercial segment to showcase the highest CAGR through 2031

By end user, the commercial segment is projected to manifest the highest CAGR of 7.6% during the forecast period. In addition, the segment held the largest share in 2021, accounting for more than three-fourths of the global satellite connectivity market, and is expected to continue its dominance from 2022 to 2031. This is due to majority of the satellite connectivity being consumed for various commercial applications throughout the world.

Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/17488

North America held the lion’s share

By region, the global satellite connectivity market across North America held the largest share in 2021, accounting for more than half of the market. This is due to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making advanced, reliable, precise, and efficient satellite connectivity systems. However, the market across Asia-Pacific is expected to register the highest CAGR of 9.9% during the forecast period, owing to rise in procurement and development of advanced satellite connectivity systems across several Asian nations, for instance, China, India, Japan, and South Korea.

Major market players

  • ASELSAN A.S.
  • Honeywell International Inc
  • General Dynamics Corporation
  • Israel Aerospace Industries Ltd.
  • Indra
  • Leonardo S.p.A.
  • L3Harris Technologies, Inc
  • Thales
  • Norsat International Inc.
  • Viasat Inc.

The report analyzes these key players of the global satellite connectivity market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Schedule a FREE Consultation Call with Our Analysts to Find Solutions for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/17488

Similar Reports We Have on Satellite Industry:

Satellite Services Market by Type (Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, and Space Flight Management Services) and End-User Industry (Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2030.

Satellite Market by Type (Large Satellite, Mini Satellite, Micro Satellite, and Nano Satellite), End User (Commercial, Civil, Government, and Others) and by Applications (Scientific Research, Technology Demonstration and Verification, Earth Observation and Remote Sensing, Scientific Research, Communication, Others) – Opportunity and Forecast, 2017-2030.

LEO and GEO Satellite Market by Types (Low Earth Orbit (LEO) and Geostationary Earth Orbit (GEO)) and Application (Communication & Navigation, Remote Sensing, Surveillance, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030.

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, 2020–2030.

Satellite Manufacturing Market by Application (Communication, Earth Observation, Navigation, Space Observation, and Others), Satellite Type (LEO, MEO, GEO, and Others), and Size (Small, Medium, and Large): Global Opportunity Analysis and Industry Forecast, 2021–2030.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

USA/Canada (Toll Free):

+1-800-792-5285, +1-503-894-6022

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1(855)550-5975

[email protected]

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com 

Follow Us on | Facebook | LinkedIn |

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research


Go to Source