Rise in Internet of Things (IoT) and autonomous systems, increase in demand for military and defense satellite communication solutions, and surge in adoption of SATCOM equipment in online streaming services, radio, and TV broadcast are the major factors driving the growth of the global satellite communication market. Based on component, the services segment held the major share in 2019. Based on region, however, Asia-Pacific would exhibit the fastest CAGR by 2027. Prominent Players: 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.
According to the report published by Allied Market Research, the global satellite communication market was estimated at $56.01 billion in 2019 and is expected to hit $99.58 billion by 2027, registering a CAGR of 9.2% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download Report (319 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/10884
Increase in Internet of Things (IoT) and autonomous systems, surge in demand for military and defense satellite communication solutions, and rise in adoption of SATCOM equipment in online streaming services, radio and TV broadcast fuel the growth of the global satellite communication market. On the other hand, cyber security threats to satellite communication and interference in satellite data transmission impede the growth to some extent. However, technological advancements in satellite missions and deployment of 5G network through satellites are expected to create lucrative opportunities in the industry.
- The outbreak of Covid-19 has given a mixed impact on the global satellite communication market. When the sudden increase in demand for internet services promoted the call for satellite communication, the nationwide lockdown, on the other hand, forced the satellite manufacturing facilities to partially or completely close their operations.
- Also, the adverse sways of the pandemic have given way to delays in the affairs associated with the development of innovative satellite communication solutions.
- Nevertheless, several government bodies have initiated vaccination drives, and with this drift on board, the market is projected to revive soon.
Request for Customization of this report at https://www.alliedmarketresearch.com/request-for-customization/10884
The global satellite communication market is analyzed across application, component, end-user industry, and region. Based on application, the broadcasting segment contributed to more than two-fifths of the total market share in 2019, and is anticipated to lead the trail by 2027. The data communication segment, on the other hand, would register the fastest CAGR of 10.7% from 2020 to 2027.
Based on component, the services segment accounted for around two-thirds of the total market revenue in 2019, and is expected to dominate by 2027. Simultaneously, the equipment segment would exhibit the fastest CAGR of 9.9% from 2020 to 2027.
Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/10884
Based on region, Europe held the major share in 2019, holding around one-third of the global market. At the same time, the market across Asia-Pacific would cite the fastest CAGR of 10.1% from 2020 to 2027. The other provinces studied through the report include North America and LAMEA.
The key market players analyzed in the global satellite communication market report include Cobham Ltd, EchoStar Corporation, General Dynamics Corporation, Gilat Satellite Networks Ltd., Inmarsat Global Limited, Telesat Canada, SES S.A., Al Yah Satellite Communication Company PJSC (Yahsat), Viasat, Inc., L3Harris Technologies, Inc., and SKY Perfect JSAT Holdings Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/10884
Similar Reports We Have on Satellite & Aerospace Related Reports:
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.
Small Satellite Market by Type (Minisatellite, Microsatellite, Nanosatellite, Pico-Satellites, and Femto Satellites), Application (Imaging and Earth Observations, Satellite Communications, Science & Explorations, Technology Development, and Space Situational Awareness), and End-User (Civil & Commercial and Government & Defense): Global Opportunity Analysis and Industry Forecast, 2019–2030.
Satellite Payloads Market by Orbit Type (LEO, MEO, and GEO), by Payload Type (Communication, Imaging, and Navigation), by Vehicle Type (Small, Medium, and Heavy), by Payload Weight (Low, Medium, and High), by Frequency Band (C, K/KU/KA band, S & L band, X band, VHF & UHF band, and Others), and by Application (Telecommunication, Remote Sensing, Scientific Research, Surveillance, and Navigation) – Global Opportunity Analysis and Industry Forecast, 2020-2030.
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-Based Earth Observation Market by Application (Data and VAS) and End User (Defense and Intelligence, Infrastructure and Engineering, Agriculture, Energy and Power, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030.
SATCOM Equipment Market by Satellite Type (Large Satellite (>2500 KG), Medium Satellite (501 – 2500 KG), Small Satellite (1 – 500 KG) and CubeSat (0.27 – 27 Cubic Unit of 103 cm)), Component (Amplifiers, Transceivers, Space Antennas, Transponders and Others), Application (Navigation, Scientific Research, Communication, Remote Sensing and Others), and End Use (Commercial and Government & Military): Global Opportunity Analysis and Industry Forecast, 2020–2030.
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.