Satellite Communication (SATCOM) Equipment Market Size, Share, Growth Analysis, Trends And Forecast 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Satellite Communication (SATCOM) Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $74.25 billion In 2028 At A CAGR Of 14.7% :

The satellite communication (satcom) equipment market size has grown rapidly in recent years. It will grow from $37.96 billion in 2023 to $42.92 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to expansion of satellite-based broadcasting, growth in military and defense satellite communication, increased demand for broadband connectivity, growth in remote sensing and earth observation, growing use of satellite technology in defense and government sectors.

The satellite communication (satcom) equipment market size is expected to see rapid growth in the next few years. It will grow to $74.25 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to deployment of high-capacity geostationary satellites, integration with 5g networks, demand for low earth orbit (leo) satellite constellations, expansion of satellite internet services, emphasis on secure satellite communication. Major trends in the forecast period include miniaturization of satellite communication equipment, use of software-defined satellite technology, hybrid satellite and terrestrial communication solutions, integration of artificial intelligence in satcom systems, adoption of high-frequency satellite bands for improved connectivity.

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Satellite Communication (SATCOM) Equipment Market Major Segments
The satellite communication (satcom) equipment market covered in this report is segmented -
1) 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)
2) By Component Type: Amplifiers, Transceivers, Space Antennas, Transponders, Other Components
3) By Application: Navigation, Scientific Research, Communication, Remote Sensing, Other Applications
4) By End-Use: Commercial, Government and Military

Key Driver - Mobile Satellite Services And Small Satellites Fuel Satellite Communication (SATCOM) Equipment Market Growth

The increasing number of mobile satellite services and small satellites is driving the growth of the satellite communication (SATCOM) equipment market. 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 program crucial flexibility for earth science research missions. With the help of satellite communication equipment, small satellites help scientists advance scientific and human exploration, reduce the cost of new space missions, and expand access to space. For instance, in 2021, according to the National Aeronautics and Space Administration (NASA), a US-based government agency, around 1,282 spacecraft were launched, of which approximately 94% were small satellites that had an overall mass of less than 600 kg and 9% of total spacecraft were nanosatellites, which had an overall mass of less than 200 kg. Additionally, in 2020, small satellite deployment increased by 30%, and these satellites are primarily used for commercial, private, government, and academic institutes. Therefore, the increasing number of mobile satellite services and small satellites is driving the demand for the satellite communication (SATCOM) equipment market growth.

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Prominent Trend - Product Innovations Propel Satellite Communication (SATCOM) Equipment Sector

Product innovations are the key trend gaining popularity in the satellite communication equipment market. 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 September 2023, Hanwha Systems, a South Korean-based aerospace and defense company, through its subsidiary Hanwha Phasor, introduced a land, marine, and manportable version of its on-the-move (OTM) satellite communications (satcom) antenna at the Defence & Security Equipment International (DSEI) 2023 in London. Customers can purchase the land variant by the end of 2024; it is appropriate for first responders, heavy artillery platforms, and command-and-control vehicles like Humvees.

Satellite Communication (SATCOM) Equipment Market Players
Major companies operating in the satellite communication (satcom) equipment market report are SKY Perfect JSAT Holdings Inc, L3 Technologies Inc., SES S. A, Telesat LLC, Intelsat S. A., Viasat Inc., General Dynamics Corporation, Cobham Limited, Thuraya Telecommunications Company, Qualcomm Technologies Inc., EchoStar Corporation, Honeywell International Inc., Hughes Network Systems LLC, Boeing Company, General Dynamics Mission Systems Inc., Iridium Communications Inc., ASELSAN A. S., Intellian Technologies Inc., Campbell Scientific Inc., ST Engineering iDirect Inc., Thales Group, Raytheon Technologies Corporation, Inmarsat Communications, KVH Industries Inc., Orbcomm Inc., Cobham PLC, Maxar Technologies Inc., Viking SatCom Inc., Kepler Communications, Gilat Satellite Networks, Comtech Telecommunications Corp., GomSpace Group AB, NanoAvionics, AAC Clyde Space AB, Spaceflight Industries, Satellogic, Spire Global Inc., Planet Labs Inc., OneWeb Satellites, Blue Canyon Technologies

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Largest And Fastest Growing Region In The Market
North America was the largest region in the satellite communication (SATCOM) equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite communication (satcom) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Satellite Communication (SATCOM) Equipment Market Report Structure
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
…..
27. Satellite Communication (SATCOM) Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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