SATCOM Equipment Market by Satellite Type, Component, Application, End Use, Region by Oxford Space Systems, Honeywell International Inc., ISIS – Innovative Solutions in Space B.V., General Dynamics Corp, Airbus SE
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COVID-19 scenario analysis:
The governments all over the world have imposed lockdown to slow the spread of COVID-19, which is directly impacting the efficiency of space agencies due to workforce shortage.
SATCOM equipment manufacturers are witnessing disruption in supply chain due to government initiatives to control the COVID-19 outbreak that is impacting the manufacturing process.
COVID-19 pandemic is impacting the quantity and quality of climate monitoring and weather forecasts, due to observatory access restrictions due to lockdown.
Space agency are forced to delay upcoming satellite launches & space programs due to operational issues owing to travel ban imposed by governments as a measure against COVID-19 pandemic.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in satellite dispatch for applications such as remote sensing and earth observation, demand for enriched data communication, and rise in expenditure on space programs are the factors that drive the global SATCOM equipment market for space. However, government regulations on space equipment & satellite launches hinder the market growth. Contrarily, demand for 5G high-speed internet, global connectivity, optical communications, 3-D printing, and cloud-based platforms present new pathways in the industry.
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The global SATCOM equipment market for space trends are as follows:
Surge in satellite dispatch for applications such as remote sensing and earth observation
Launch of satellites to cater the demands for agriculture monitoring, weather pattern monitoring, remote sensing, earth observation, and navigation has been increasing in recent years. For instance, on 27th December, 2018, Vostochny Cosmodrome (a Russian spaceport) launched Soyuz rocket (most frequently used Russian made launch vehicle) to establish two Russian government earth observation satellites along with 26 other small satellites, into earth’s orbit. Such frequent satellite launches are expected to boost the global SATCOM equipment market for space.
Rise in expenditure on space programs
Space agencies has been spending more in space programs to achieve breakthrough in advance technologies. For instance, in 2019, Estonian space agency finished the development and construction of a CubeSat (103 cm cubic miniature satellite, known as ESTCube-2) to test plasma braking (satellite deorbiting technology), electric rail propulsion (propulsion system utilizing dynamic thrust of solar winds), and a classified high-speed communication sub-system. Launch of this satellite is due in 2021, moreover the whole project is expected to cost approx. 550,000 USD. Such expenditure on pursuance of advanced technologies in space industry will drive the global space SATCOM equipment market for space.
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Key benefits of the report:
• This study presents the analytical depiction of the global SATCOM equipment industry for space along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global SATCOM equipment market for space share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global SATCOM equipment market for space growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global SATCOM equipment market for space analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the SATCOM equipment market for space research report:
• What are the leading market players active in the SATCOM equipment market for space?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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