What are the Historical Developments and Current Growth Metrics of the Satellite Communication Service And Equipment Market?
The satellite communication service and equipment market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a significant expansion in the market size of satellite communication service and equipment. It is projected to increase from $32.59 billion in 2024 to $39.33 billion in 2025, with a compound annual growth rate (CAGR) of 20.7%.
The historical growth of this market can be traced back to factors such as increasing need for data-as-a-service from space, heightened investments in satellite communications for national security, demand for trustworthy communication channels in remote locations, the introduction of low earth orbit (LEO) satellites and constellations, as well as collaboration between public and private sectors for creating expandable opportunities in the space arena.
What Is The Projected Growth Of The Satellite Communication Service And Equipment Template Market?
The satellite communication service and equipment market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, rapid growth is anticipated in the satellite communication service and equipment market, with projections indicating a surge to $76.43 billion by 2029, reflecting a compound annual growth rate (CAGR) of 18.1%.
The predicted growth within this period can be credited to several factors such as the broadening of cellular networks, the penetration of IoT devices, the inception of high-throughput satellites (HTS), the escalating demand for high-speed, the burgeoning commercial space industry, and the requirement for satellite technology in military and government applications. Notable trends within the forecast period comprise technological advancements, the need for more efficient satellites, the ascendance of edge computing, and investments in artificial intelligence, along with the permeation of digital technologies.
What Are The Key Drivers Fueling Growth In The Satellite Communication Service And Equipment Market?
The expected surge in satellite launches is anticipated to stimulate the expansion of the satellite communication service and equipment market. Satellite deployment pertains to the act of sending satellites into orbit around Earth or other astronomical entities. The push for satellite deployments comes from the necessity for global connectivity, remote sensing capabilities, and national security, which enable communication, observation, navigation, and data sharing over large distances and complex terrains. Satellite deployments utilize satellite communication services and equipment to build dependable data transmission connections between terrestrial stations and satellites in orbit, making it possible to perform crucial tasks such as telemetry, tracking, and command operations fundamental to mission control and data retrieval. For instance, in January 2024, the Space Foundation, a nonprofit organization based in the US, reported that over 2,800 satellites had been launched into orbit, reflecting a 23% growth compared to 2022. Consequently, the increase in satellite deployments is contributing to the growth of the satellite communication service and equipment market.
What Are The Principal Market Segments In The Global Satellite Communication Service And Equipment Industry?
The satellite communication service and equipment market covered in this report is segmented –
1) By Type: Satellite Communication Service, Satellite Communication Equipment
2) By Frequency: C Band, L And S Band, X Band, Ka Band, Ku Band, Very High Frequency (VHF) And Ultra High Frequency (UHF) Bands, Extremely High Frequency (EHF) And Super High Frequency bands (SHF) Bands, Multi Band, Q Band
3) By Application: Government And Military Applications, Civil Satellite Communications, Commercial Application, Other Applications
Subsegments:
1) By Satellite Communication Service: Fixed Satellite Services (FSS), Mobile Satellite Services (MSS), Broadband Satellite Services, Broadcasting Satellite Services, Satellite Communication Network Services
2) By Satellite Communication Equipment: Ground Station Equipment, Satellite Terminals, Antennas, Amplifiers, Transceivers, Satellite Modems, Other Equipment
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How Are Emerging Trends Reshaping The Dynamics Of The Satellite Communication Service And Equipment Market?
Leading firms in the satellite communication service and equipment sector are concentrating on technological advances, such as LTE-based satellite broadband devices, which are pivotal for communications during routine procedures and catastrophic events. The hardware of these devices, employing LTE (Long-Term Evolution) technology, connects to the internet via satellite communication, merging the swift and dependable attributes of LTE cellular networks with the universal coverage of satellite connections. For example, in January 2024, Sasken Technologies Limited, a telecom enterprise based in India, unveiled an LTE-based satellite broadband device designed for essential communication needs. This groundbreaking product includes a range of services, among them, support for emergency communication. It facilitates vital satellite communications during natural calamities like tsunamis and offers dependable connectivity for necessary communication prerequisites. The advent of LTE over mobile satellite equipment introduces standard 3GPP services over the satellite structure, revolutionizing traditional communication techniques and expanding connectivity alternatives for crucial processes.
Who Are the Key Players In The Satellite Communication Service And Equipment Market?
Major companies operating in the satellite communication service and equipment market are:
• Raytheon Technologies Corporation
• Lockheed Martin Corporation
• Airbus SE
• QualComm Technologies Inc.
• General Dynamics Corporation
• Honeywell International Inc.
• Safran SA
• Texas Instruments Inc.
• Thales SA
• L3Harris Technologies Inc.
• Bharti Airtel Limited
• STMicroelectronics N.V.
• Singapore Technologies Engineering Ltd.
• ViaSat Inc.
• SES S.A.
• Tata Communications Ltd.
• Hughes Network Systems LLC
• Eutelsat Communications S.A.
• Sky Perfect JSAT Holdings Inc.
• Furuno Electric Co. Ltd.
• Comtech Telecommunications Corp.
• China Satellite Communications Co. Ltd.
• Gilat Satellite Networks Ltd.
• APT Satellite Holdings Limited
• Tejas Networks Limited
• Global Invacom Group Limited
• Space Star Technology Co. Ltd.
• AsiaSat Satellite Telecommunications Ltd.
• Synertone Communication Corporation
• Avanti Communications Group plc
What Are The Regional Insights Into The Satellite Communication Service And Equipment Market?
North America was the largest region in the satellite communication service and equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite communication service and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
