DUBLIN, Feb. 20, 2024 /PRNewswire/ — The “Satellite Communication (SATCOM) Equipment – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Satellite Communication (SATCOM) Equipment Market to Reach $42.6 Billion by 2030
The global market for Satellite Communication (SATCOM) Equipment estimated at US$19.7 Billion in the year 2022, is projected to reach a revised size of US$42.6 Billion by 2030, growing at a CAGR of 10.1% over the analysis period 2022-2030. LEO Orbit, one of the segments analyzed in the report, is projected to record 10.2% CAGR and reach US$35.9 Billion by the end of the analysis period. Growth in the Meo / Geo Orbit segment is estimated at 9.8% CAGR for the next 8-year period.
The outlook for space technologies is robust, driven by the growing indispensability of satellites in modern communication and networking. This trend forms the foundation for growth in the SATCOM equipment market, marking the beginning of a new era in space technologies and initiating a fresh growth phase.
Amidst a changing global economic landscape, competition in the SATCOM equipment market remains fierce. Ninety-eight players worldwide exhibit varying degrees of market presence, from strong to niche. Established world brands vie for market share, leveraging innovation and technological advancements to maintain their competitive edge.
Influencer insights and product technology insights provide valuable perspectives on emerging trends and advancements in the SATCOM equipment market. Recent market activity reflects a surge in innovations, underscoring the industry’s commitment to meeting evolving consumer needs and technological requirements.
As the demand for SATCOM equipment continues to rise, stakeholders are investing in research and development to drive innovation and enhance product offerings. With satellites playing an increasingly vital role in communication and networking, the SATCOM equipment market is poised for sustained growth and innovation in the coming years.
The U.S. Market is Estimated at $7.9 Billion, While China is Forecast to Grow at 11.6% CAGR
The Satellite Communication (SATCOM) Equipment market in the U.S. is estimated at US$7.9 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2030 trailing a CAGR of 11.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 10.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.7% CAGR.
MARKET TRENDS & DRIVERS
Robust Satellite Manufacturing and Launch Activity Sets the Tone for Growth
Growing Number of Active Satellites Stand Testimony to the Strong Market Sentiment Prevalent in the Satellite Manufacturing & Launch Space
Satellite M2M Communication Opens-Up New Avenues for Growth
IoT & M2M Expand the Addressable Market Opportunity for Satellite Communication (SATCOM) Equipment
Low Earth Orbit Technologies: A Landmark Innovation in Satellites to Fuel Gains
Communication Satellites Find Wider Application
Strong Demand for In-Flight Wi-Fi Services Drives Demand for Satellite Communication (SATCOM) Equipment
Growing Adoption of In-Flight Wi-Fi Services as Key Service Differentiator Among Airline Companies Strengthens the Business Case for Satellite Communication & Satellite Communication (SATCOM) Equipment
Small Satellites Make it Big in the Market
Reduction in Structural Mass is the New Design Goal
As the World Steps Up Military Spending Amid Rising Geopolitical Conflicts, It is Uninterrupted Growth for SATCOM Equipment in the Military & Defense Sector
Robust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Spending on Military Tactical Communications Dependent on Satellites
Satellite-to-Cell Emerges As a Major Trend
High Throughput Satellites (HTS) Grow in Demand
In-Space Manufacturing Kicks Up Massive Interest and Investments
Cyber Concerns Storm Into the Spotlight
FOCUS ON SELECT PLAYERS (Total 98 Featured)
Aselsan A.S.
AvL Technologies
Campbell Scientific Inc.
Cobham PLC
General Dynamics Corporation
Gilat Satellite Networks
Harris Corporation
Holkirk Communications Ltd.
Hughes Network Systems LLC
Intellian Technologies Inc.
Iridium Communications, Inc.
L3 Technologies, Inc.
ND SatCom GmbH
Network Innovations Inc.
Newtec Cy NV
Satcom Global Ltd.
ViaSat, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nsmni5
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