Report Code: A09651 | Pages: 381 | Dec 2022 | 2303 Views | ||
Author(s) : Tanuj B , Vineet K | Tables: 139 | Charts: 60 |
|
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.
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.
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.
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.
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.
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.
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 |
|
Satellite Orbit |
|
End User |
|
By Region |
|
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) |
Loading Table Of Content...
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.
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.
Start reading instantly.
This Report and over 19,651+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers