Satellite Communication market (SATCOM) is set to acquire stimulus from the popularity for little satellites in a great many areas, like oil and gas, energy, horticulture, and structural designing with the end goal of earth perception. In April 2021, for example, China Great Wall Industry Corp. conveyed nine little satellites through the Long March 6 rocket in space for confirming advances for between satellite laser correspondences and independent mission arranging, as well as getting climate remote detecting pictures.
Satellite Communication (SATCOM) Market is valued at USD 80.33 billion in 2022 and is projected to reach a value of USD 169.70 billion in 2030 expanding at a CAGR of 9.8% over the forecast period of 2022-2030.
The increasing interest in IoT in the avionics business for various objectives, such as aeroplane network, carriers, air traffic executives, and MRO the board, is predicted to increase the market development of global Satellite Communication by the figure period. Interconnectivity in flight applications for IoT-based gadgets and administrations necessitates the exchange of ongoing data to the handling units, which is critical for the improvement of various activities in the avionics business. The Global Satellite Communication (SATCOM) Market study provides an in-depth analysis of the market. The paper provides a comprehensive evaluation of major components, patterns, drivers, restrictions, serious scene, and variables that are playing a big role in the hunt.
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Global Satellite Communication (Satcom) Market: Key Trends
Rise In Increase Of Things (Iot) And Autonomous System
One of the major factor that has fuelled the market growth is the rise in IoT and autonomous system over the forecast period. This is because, the merging applications and business models and falling device costs have been instrumental in driving IoT adoption, which has consequently increased the number of connected devices and endpoints globally. This has fuelled the market growth.
Cybersecurity Acts As A Major Concern
The major concern to the global satellite communication market is the cybersecurity. This is because the entire process of launching a satellite to transmit data is highly sensitive. The major challenge lies in the negative impact that the cybersecurity threats can potentially make as the vulnerabilities are mission-critical.
Segmental Analysis
Based On Component:
- Equipment
- SATCOM Transmitter/Transponder
- SATCOM Antenna
- SATCOM Transceiver
- SATCOM Receiver
- SATCOM Modem/Router
- Others
- Services
The equipment segment has dominated the market growth over the forecast period.
Based On Application:
- Asset Tracking/Monitoring
- Airtime
- M2M
- Voice
- Data
- Drones Connectivity
- Data Backup and Recovery
- Navigation and Monitoring
- Tele-medicine
- Broadcasting
- Others
Competitive Landscape
Some of the major companies operating in the market are SES S.A.; Viasat, Inc.; Intelsat; Telesat; EchoStar Corporation; L3 Technologies, Inc.; Thuraya Telecommunications Company; SKY Perfect JSAT Group; GILAT SATELLITE NETWORKS; Cobham Limited.
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