Satellite Communication Terminal Market is expected to grow at a CAGR of 6.5% by 2028

According to the new research report published by The Insight Partners, titled "Satellite Communication Terminal Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Classification and Application," the market was valued at US$ 3,877.1 million in 2021 and is projected to reach US$ 6,030.7 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.

Rising Adoption of Portable and Small SATCOM Terminals to Provide Growth Opportunities for Satellite Communication Terminal Market During 2021-2028

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Companies Mentioned are: Airbus, AVL Technologies, Collins Aerospace, General Dynamics Mission Systems, Inc., Honeywell International Inc., L3Harris Technologies, Inc., NEC Corporation, ST ENGINEERING, Thales Group, Viasat, Inc.

A portable satellite communication terminal, also known as a hotspot or satellite communicator, is one of the smallest 2-way SATCOM devices. Such satellite communication terminal uses an internal GPS chip for gathering location information. When the SEND option is selected, the location information is sent to a commercial monitoring agency via commercial satellites. The role of the commercial monitoring agency is to forward the information to the respective responding agency. Typically, the purchasers of portable satellite communication devices are involved in activities like mountain biking, hiking, boating, climbing, and flying. Small SATCOM terminals are also useful for individuals who have to work in remote areas, such as foresters, loggers, fishers, geologists, and wildlife staff.

Enhanced features such as breadcrumb tracking via Google Earth and sending preprogrammed messages are also offered via portable and small SATCOM terminals. Some of the latest devices that provide 2-way communication via satellite are Spot X, Germin InReach mini, Bivy stick blue, and Zoleo satellite communicator, among others. Iridium started its Global Maritime Distress and Safety System service (GMDSS) in 2020. The launch of new GMDSS terminals facilitates access to a fleet of vessels, which are needed by maritime law to maintain the L-band safety service. The demand for portable and small SATCOM terminals is forecasted to grow notably in the coming years due to enhanced utility.

Satellite Communication Terminal Market Insights
Growing Need for Uninterrupted Connectivity
The need for uninterrupted connectivity is growing notably across various domains globally. Satellite communication terminals are used across respective applications in various areas such as weather forecasting, media and entertainment, aviation, television, internet, space, and telecommunication. Various technological developments with respect to SATCOM terminals considerably contribute to market growth. The growing requirement for communication on-the-move solutions for platforms like military vehicles, commercial vehicles, boats, and trains is driving the demand for respective satellite communication terminals notably. The 5G telecommunication network is growing in developing countries such as India, Taiwan, and Brazil. To stay aware of cyclones, tsunamis, and tornados, the need for accurate weather forecasting is increasing worldwide. With the launch of new airlines and a rise in investment in the aviation sector, the need for enhanced operational efficiencies and air traffic control is expected to grow significantly in the near future. The International Air Transport Association (IATA) predicts that the count of air passengers is anticipated to reach 7.2 billion by 2035, which nearly doubles the count of 3.8 billion air passengers in 2016.

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Impact of COVID-19 Pandemic on Satellite communication terminal Market
North America is one of the most significant regions with respect to the adoption and growth of new technologies, owing to favorable government policies to boost innovation. The COVID-19 pandemic impacted certain industries like leisure, travel, and tourism. Aviation, media & entertainment, and telecommunication are significant fields that contribute majorly toward the satellite communication terminal market growth in North America. In April 2020, Nielsen, a US rating agency, estimated that "staying in the home" can lead to a remarkable 60% increase in the amount of content watched. Since many people had to stay at home in the US, Canada, and Mexico, the amount of viewed online and entertainment content went up drastically. The COVID-19 pandemic resulted in the postponement of the expansion project of Austin-Bergstrom Airport in the US, which negatively impacted the satellite communication terminal market growth. Also, since non-essential activities were prohibited, the demand for small and portable SATCOM terminals from foresters, loggers, and geologists reduced to a remarkable extent. Restrictions like a limited workforce impacted the market from the supply side. However, with increasing vaccination drives, the production of satellite communication terminals is coming back to normalcy.

Global Lithium Ion Battery Market by Region
North America
Europe
Asia Pacific
Middle East and Africa
South America

Moreover, key companies contributing to Fiber Laser market valuation are studied thoroughly. The study entails a list of these companies along with exhaustive information regarding their offerings, strategic decisions such as partnerships, product launches, mergers & acquisitions and SWOT analysis.

Table of Content
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Satellite Communication Terminal Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Satellite Communication Terminal Market - Key Market Dynamics
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Satellite Communication Terminal Market - Global Market Analysis
6.1 Global Satellite Communication Terminal Market Overview
6.2 Global Satellite Communication Terminal Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
………Continued

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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