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Global Satellite Communication (SATCOM) Equipment Market - By Size, Share Analysis, Growth Trends And Forecasts 2023-2032
Satellite Communication (SATCOM) Equipment Market
The Business Research Company's Satellite Communication (SATCOM) Equipment Global Market Report 2023 identifies increasing number of mobile satellite services and small satellites as the major driver for the Satellite Communication (SATCOM) Equipment market's growth in the forecast period. Mobile satellite services (MSS) offer two-way voice and data communications to people all over the world who are travelling or residing in remote areas. Widespread adoption of small satellites and mobile satellites is increasing as it gives the entire programme crucial flexibility for earth science research missions.
The global satellite communication (satcom) equipment market size grew from $34.4 billion in 2022 to $39.43 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The satellite communication (satcom) equipment market size is expected to grow to $67.68 billion in 2027 at a CAGR of 14.5%.
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Major competitors in the Satellite Communication (SATCOM) Equipment market are SKY Perfect JSAT Holdings Inc., L3 Technologies Inc., SES S.A., Telesat LLC, Intelsat S.A., Viasat Inc.
A key trend in the Satellite Communication (SATCOM) Equipment market includes product innovations. Major companies operating in the satellite communication equipment sector are focused on developing new product innovations and solutions to strengthen their position. For instance, in June 2020, Honeywell International Inc., a US-based company operating in satellite communication primarily in aerospace, launched its smallest and lightest satellite, known as the Honeywell Small UAV SATCOM system, a miniature of a large satellite communication system for communication on land and in the air. Honeywell's Small UAV SATCOM system can be installed anywhere in the vehicle for a wide range of coverage of the platform, to reduce unnecessary bulk, and to provide safety. Moreover, it can connect unnamed vehicles even in remote areas or over water, where other ground-based communications systems, such as 4G, are not available.
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The Satellite Communication (SATCOM) Equipment market is segmented -
• By Satellite Type: Large Satellite (>2500 KG), Medium Satellite (501 - 2500 KG), Small Satellite (1 - 500 KG), Cubesat (0.27 - 27 Cubic Unit Of 103 Cm)
• By Component Type: Amplifiers, Transceivers, Space Antennas, Transponders, and Other Components
• By Application: Navigation, Scientific Research, Communication, Remote Sensing, Other Applications
• By End-Use: Commercial, Government, and Military
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Satellite Communication (SATCOM) Equipment market.
The Business Research Company's "Global Satellite Communication (SATCOM) Equipment Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Satellite Communication (SATCOM) Equipment Market Include:
1. Executive Summary
2. Satellite Communication (SATCOM) Equipment Market Characteristics
3. Satellite Communication (SATCOM) Equipment Market Trends And Strategies
4. Satellite Communication (SATCOM) Equipment Market - Macro Economic Scenario
5. Satellite Communication (SATCOM) Equipment Market Size And Growth
………………………………………………..
26. Africa Satellite Communication (SATCOM) Equipment Market
27. Satellite Communication (SATCOM) Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Satellite Communication (SATCOM) Equipment Market
29. Satellite Communication (SATCOM) Equipment Market Future Outlook and Potential Analysis
30. Appendix
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