Satellite Communication (SATCOM) Status And Size Business Growth 2022 To 2030

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.

SATCOM (satellite communication) was a man-made geo-stationary satellite that facilitated wide-area telecommunications by collecting radio signals from Earth, amplifying them, and sending them back to terrestrial receivers.

Key Market Growth determinants and restraints:

This Market is developing at a quicker pace with significant development rates throughout the most recent couple of years and is assessed that the market will fill essentially in the gauge period for example 2022 to 2030.

By the end of the forecast period, the growing need for IoT in the aviation industry for various applications such as aircraft connection, airlines, air traffic control, and MRO management is expected to fuel market expansion in global Satellite Communication. The interchange of real-time data to processing units is required for interconnectivity in aviation applications for IoT-based devices and services, which is critical for the optimization of various activities in the aviation industry. Satellite connectivity is required for this real-time data sharing between IoT systems and components. As a result, satellite communication will play an important role in IoT services as well as the aviation industry, fostering market expansion over the forecast period. By the end of the projection period, the market will have grown significantly due to rising demand for SATCOM equipment in telecommunications, space exploration, and telemetry.

Military operations make extensive use of satellite communication, which is expected to have a favourable impact on worldwide market growth over the forecast period. Military SATCOM is providing improvements in Satellite Communications such as personal communication service, global broadcast service, and bandwidth frequency by combining military frequency bands with commercial communications satellites.

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Segmentation Analysis Of Global Satellite Communication (SATCOM) market:

Based on product
• SATCOM transporter
• SATCOM Transceiver

Based on vertical
• Government and military application
• Civil satellites communications
• Commercial applications

Based on end-user
• Portable SATCOM equipment
• Land mobile SATCOM equipment
• Maritime SATCOM equipment
• Airborne SATCOM equipment
• Land fixed SATCOM equipment

North America is expected to hold the largest market share

North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global this market. North America presently dominates the market with the largest market share among others.

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Competitive Landscape:

The Key players in this Market are EchoStar Corporation, SKY Perfect JSAT Group, L3 Technologies, Inc., SES S.A, Telesat, Intelsat, Viasat, Inc., Gilat Satellite Networks, Cobham Limited, and Thuraya Telecommunications Company.

Major development:

The Satellite Communication (SATCOM) market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.

Key Takeaways From The Report:

• The Global Satellite Communication (SATCOM) market registers a growing CAGR of over 9.8% from 2022 to 2030.
• North America to lead the market with the highest market share.
• By the end of the forecast period, the growing need for IoT in the aviation industry for various applications such as aircraft connection, airlines, air traffic control, and MRO management is expected to fuel market expansion in global Satellite Communication.

Major Questions Answered In This Report:

• What is the growth rate of the Global Satellite Communication (SATCOM) Market?
• What are the primary growth determinants of the Global Satellite Communication (SATCOM) market?
• Which are the major regions constitutes the geographical landscape of Global Satellite Communication (SATCOM) Market?
• Which are the prominent companies operating in Global Satellite Communication (SATCOM) Market?

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