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Satellite Communication System Market

Satellite Communication System Market

by Satellite Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO)), by Component (Equipment, Services), by End User (Maritime, Aerospace and Defense, Industrial, Government, Transportation and Logistics, Media, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A09651
Pages: 381
Dec 2022 | 2303 Views
Author(s) : Tanuj B , Vineet K
Tables: 139
Charts: 60
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Satellite Communication System Market Research, 2031

The global satellite communication system market was valued at $25.8 billion in 2021, and is projected to reach $61.5 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.

In order to study and forecast the solar system and universe, artificial or human-made satellites are placed in orbit around the Earth or other celestial objects. The satellites are also used for communication purposes for the military, positioning technologies, television transmissions, and telephone calls, among others. Through the transmission of radio waves from a satellite and the collection and processing of data from antennas and transponders located at various points on Earth, satellite communication is made possible. To overcome the maximum distance signal transmission constraint associated with the traditional signal communication system, the space organisations are boosting satellite launches on a global scale. The satellites transmit audio, video, and data across numerous places across the world using digital and analogue transmissions.

The outbreak of COVID-19 has significantly impacted the growth of global satellite communication system market in 2021, owing to a significant impact on prime players operating in the supply chain. However, increasing demand for broadband connectivity, and increased use of mobile devices are expected to impact market growth favourably over the forecast period during the COVID-19 pandemic. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delay or cancelation of projects, owing to partial or complete lockdown globally. Furthermore, the development of new technologies, such as high-capacity satellites and advanced antenna systems, has made satellite communication systems more efficient and cost-effective, which has helped to drive the market for these systems.

Satellite Communication System Market

The increase in development of new satellite technologies is anticipated to fuel the growth of the global satellite communication market during the forecast period. For instance, in April 2021, Northrop Grumman announced successful docking of its Mission Extension Vehicle 2 to Intelsat 10-02 a commercial satellite. Mission Extension Vehicle 2 is a robot spacecraft that extends the life of satellites.

For military operations carried out in remote areas with insufficient and unstable communications infrastructure, satellite communication services offer secure bandwidth capacity with the advent of UAV satellite communication system for defense satellite communications system. In the forthcoming years, it is projected that the revenue from Fixed Satellite Services (FSS) utilized in government and military applications will increase significantly. Governments all over the world are integrating commercial satellite technology into their military communication networks. This is a result of the government's increased efforts to meet the growing communication needs for a variety of applications, such as Airborne Intelligence, Surveillance, and Reconnaissance (AISR) and Communications on the Move (COTM). These services need omnipresent and reliable coverage, which satellite services excel at providing.

The Union of Concerned Scientists (UCS) has counted 6,542 artificial satellites orbiting the planet as of January 2021, 3,372 of which are active spacecraft. Image, audio, and video data in the form of analogue and digital signals are transmitted across numerous nodes in a network by artificial satellites. The emergence of mobile satellites, low-Earth orbit (LEO), and the spread of reusable rocket vehicles for industrial, military, and aerospace uses have revolutionized the satellite communications (Satcom) sector.

The global satellite communication system market is expected to witness notable growth during the forecast period, owing to surge in demand for internet of things (IoT) devices for several businesses, including the automotive, defence, and healthcare sectors. Moreover, rise in demand for military and defense satellite communication system solutions and increase in adoption of satellite communication equipment in online streaming services, radio, and TV broadcast is expected to propel the satellite communication system market forecast during the forecast period.

However, interference in satellite data transmission and reception is one of the prime factors that restrain the global satellite communication system market growth. On the contrary, technological advancements in satellite missions is expected to provide lucrative opportunities for the growth of the satellite communication system market during the forecast period.

The satellite communication system market is segmented into Component, Satellite Orbit and End User.

Satellite Communication System Market
By Component

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Services segment acquired a major share in 2021.

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Based on component, the market is segregated into equipment and service. The services segment acquired the largest share in 2021 and is expected to grow at a significant CAGR from 2022 to 2031.

Satellite Communication System Market
By Satellite Orbit

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Low Earth Orbit (LEO) is witnessed to grow at a higher market share in 2021 and Medium Earth Orbit (MEO) is anticipated to dominate the market till 2031.

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On the basis of satellite orbit, the market is divided into Low Earth Orbit (LEO), Medium Earth Orbit (MEO), and Geostationary Orbit (GEO). In 2021, the Low Earth Orbit (LEO) segment dominated the market, in terms of revenue, and Medium Earth Orbit (MEO) segment will acquire major market share till 2031.

Satellite Communication System Market
By End User

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Media segment dominated the market in 2021.

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On the basis of end user, the market is divided into maritime, aerospace and defense, industrial, government, transportation and logistics, media, and others. In 2021, the media segment dominated the market, in terms of revenue, and is expected to follow the same trend during the forecast period.

Satellite Communication System Market
By Region

2031
Asia-pacific 
North America
Europe
LAMEA

Europe region garnered significant market share in 2021.

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Region-wise, the Satellite communication system Market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Europe and Asia-Pacific remains a significant participant in the satellite communication system industry. Major organizations and government institutions in the country are intensely putting resources into technology.

Country-wise, the U.S. acquired a prime share in the satellite communication system market in the North American region and is expected to grow at a high CAGR of 8.27% during the forecast period of 2022-2031. The Canada, holds a dominant position in the satellite communication system market size, owing to the rise in investment by prime vendors to boost satellite communication system solutions.

In Europe, Germany, dominated the satellite communication system market share, in terms of revenue, in 2021 and is expected to follow the same trend during the forecast period. However, the UK is expected to emerge as the fastest-growing country in Europe's satellite communication system with a CAGR of 11.07%, owing to a significant development in the internet of things devices in telecommunication, automotive, and other sectors in the country.

In Asia-Pacific, China is expected to emerge as a significant market for the satellite communication system industry, owing to a significant rise in investment by prime players and government institutions to boost transportation and logistics ,telecommunication and other sectors.

By LAMEA region, the Latin America country garner significant market share in 2021. The LAMEA satellite communication system market has been witnessing improvement, owing to the growing inclination of companies towards research and development for enhanced connectivity for consumer electronics and telecommunication across this region. Moreover, the Middle East region is expected to grow at a high CAGR of 8.48% from 2022 to 2031, owing to new developments and investments towards building space stations to launch satellite communication systems for telecommunication and TV broadcasting stations in the orbit for the region,which is expected to reshape the growth of satellite communication system market in the Latin America.

Competitive analysis and profiles of the major global satellite communication system market players that have been provided in the report include Advantech Wireless Technologies Inc. (Baylin Technologies), Al Yah Satellite Communications Company PJSC (Yahsat), Gilat Satellite Networks, Inmarsat Communications, Iridium Communications Inc., KVH Industries, Inc., L3Harris Technologies Inc., Orbcomm Inc., Thales Group, and ViaSat Inc.

Advantech Wireless Technologies Inc. (Baylin Technologies), Al Yah Satellite Communications Company PJSC (Yahsat), Gilat Satellite Networks, Inmarsat Communications, Iridium Communications Inc., KVH Industries, Inc., L3Harris Technologies Inc., Orbcomm Inc., Thales Group, and ViaSat Inc are the top  companies holding a prime share in the satellite communication system market. Top market players have adopted various strategies, such as product launch, acquisition, innovation, partnership, and others to expand their foothold in the satellite communication system market.

  • In January 2020, Brazil's largest rail-based logistics operator Globalsat will use mobile satellite communication to increase delivery speed. Globalsat, Inmarsat, and Cobham signed a contract to provide SATCOM for railway infrastructure.
  • In May 2022, Cobham Satcom and UltiSat, Inc., a provider of end-to-end communications, announced the signing of a strategic distributor and integrator agreement. The agreement enables both companies to expand their market reach and provides the DoD and NATO allies with easy access to a range of advanced satellite tracking systems provided by Cobham Satcom.
  • In May 2022, The Space RCO, a U.S. Space Force organization that procures and manages classified space systems, announced that BlueHalo was awarded a contract. The contract is for the project known as satellite communications augmentation resource program. This will address the critical U.S. Space Command requirement to rapidly, responsively, and affordably augment satellite control capacity for the satellite control network.
  • In June 2022, Thales Alenia Space built a very high throughput craft SES-17, ready to provide unparalleled connectivity services to customers across aeronautical, maritime, enterprise, government and other sectors, whether on land, at sea or in the skies, according to the operator. SES-17 has successfully launched onboard an Ariane 5 launcher operated by Arianespace from Europe’s Spaceport in Kourou.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the satellite communication system market analysis from 2021 to 2031 to identify the prevailing satellite communication system market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the satellite communication system market outlook assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global satellite communication system market trends, key players, market segments, application areas, and market growth strategies.

Satellite Communication System Market Report Highlights

Aspects Details
Market Size By 2031 USD 61.5 billion
Growth Rate CAGR of 9.5%
Forecast period 2021 - 2031
Report Pages 381
Component
  • Equipment
  • Services
Satellite Orbit
  • Low Earth Orbit (LEO)
  • Medium Earth Orbit (MEO)
  • Geostationary Orbit (GEO)
End User
  • Maritime
  • Aerospace and Defense
  • Industrial
  • Government
  • Transportation and Logistics
  • Media
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Al Yah Satellite Communications Company PJSC (Yahsat), gilat satellite networks, Inmarsat Communications, KVH Industries, Inc., L3Harris Technologies Inc., Thales Group, Viasat Inc., Iridium Communications Inc., ORBCOMM Inc., Advantech Wireless Technologies Inc. (Baylin Technologies)
 

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According to the perspectives of CXOs of a leading satellite communication company, the global satellite communication market is expected to witness significant growth due to increase in demand for low latency wireless communication network around the world.

During the forecast period, it is anticipated that the rise in Internet of Things (IoT) and autonomous systems, as well as the rising demand for military and defence satellite communication solutions, would propel the worldwide satellite communication system market's expansion. However, during the forecast period, cybersecurity threats to satellite communication and interference with satellite data transmission are expected to restrain market expansion.

Furthermore, it is anticipated that future technological developments in satellite missions and the deployment of the 5G network via satellites would present attractive market potential. A network with a high data rate and low latency is provided by satellite communications technology. It offers all-encompassing coverage for communications in isolated rural areas, during emergencies or natural disasters, and in the aviation and maritime industries. It can also be used for applications in places without coverage by a conventional terrestrial network.

The satellite communication system consists primarily of two key components the ground segment and the space segment, which facilitate communication through satellite. The advances in satellite systems such as High Throughput Satellite (HTS), nanosatellites, Geostationary Earth Orbit (GEO) satellites, and Low Earth Orbit (LEO) satellites optimize network efficiency and aid in delivering data speeds of around Terabit per second (Tbps) of capacity worldwide.

According to a key executive of aircraft organization, an increase in applications of technological advancements such as edge computing, 5G and beyond 5G, and machine learning and AI applications are anticipated to fuel the demand for satellite communication over the years. Moreover, rise in implementation of satellite communication in military and defense applications are anticipated to offer lucrative opportunities for the satellite communication market during the forecast period. Among the analyzed regions, North America is the highest revenue contributor, followed by Europe, Asia-Pacific, and LAMEA. Based on forecast analysis, North America is expected to maintain its lead during the forecast period, owing to increased funding for electrification of aircraft in the region and the presence of big market players such as GE Aviation, Honeywell International Inc., Raytheon Technologies Corporation, and others, which have a global presence.

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FREQUENTLY ASKED QUESTIONS?

A. Increased adoption of broadband connectivity, increase in use of mobile phones are some of the upcoming trends of Satellite Communication System Market in the world.

A. Media is the leading application of Satellite Communication System Market.

A. Asia-Pacific is the largest regional market for Satellite Communication System.

A. The global satellite communication system market was valued at $25,805.2 million in 2021.

A. Advantech Wireless Technologies Inc. (Baylin Technologies), Al Yah Satellite Communications Company PJSC (Yahsat), Gilat Satellite Networks, Inmarsat Communications, Iridium Communications Inc., KVH Industries, Inc., L3Harris Technologies Inc., Orbcomm Inc., Thales Group, and ViaSat Inc. are the top companies to hold the market share in Satellite Communication System.

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