Press release
Satellite Telecommunications Market Report 2024: Size, Share, Growth, Trends, Forecast 2033
Satellite Telecommunications Market
As per the report, the satellite telecommunications market size has grown steadily in recent years. It will grow from $41.37 billion in 2023 to $43.39 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The satellite telecommunications market size is expected to see strong growth in the next few years. It will grow to $53.99 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
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Surging Demand For Small Satellites Drives Growth In Satellite Telecommunication Market
The increase in the demand for small satellites for earth observation services is expected to boost the growth of the satellite telecommunication market going forward. Small satellites refer to satellites that weigh less than a kilo (2,204 pounds). Small satellites are used to advertise conventional satellite applications in data communications, earth exploration, space research, and many other fields, hence, the increase in the demand for small satellites for earth observation services is expected to boost the satellite telecommunication market. For instance, in 2021, according to a report published by Satellite Applications Catapult Limited, a UK-based technology and innovation center focused on space satellites, in 2021, 1,715 small satellites were launched, which is an increase compared to the total number of 1163 small satellites launched in 2020. This is the greatest figure from any quarter so far. Therefore, the increase in the demand for small satellites for earth observation services is driving the growth of the satellite telecommunication market.
Advanced Satellite Telecommunication For Revolutionizing Connectivity
Technological advancement is the key trend gaining popularity in the satellite telecommunication market. Major companies operating in the satellite telecommunication market are focusing on developing new technologies. For instance, in January 2023, Qualcomm Technologies, Inc., a US-based manufacturer of digital wireless telecommunication products and services, launched Snapdragon Satellite. This is the world's first satellite-based two-way messaging solution for luxury smartphones. Snapdragon Satellite is powered by Snapdragon 5G Modem-RF Systems and supported by the Iridium satellite constellation, which is currently fully operational and is anticipated to offer worldwide access through mobile messaging from all over the world.
The satellite telecommunications market covered in this report is segmented -
1) By Component: Receiver, Transmitter Or Transponder, Transceiver, Antenna, Other Components
2) By Platform: Portable SATCOM Equipment, Land SATCOM Equipment, Maritime SATCOM Equipment, Airborne SATCOM Equipment
3) By Application: Asset Tracking Or Monitoring, Airtime, Drones Connectivity, Data Backup And Recovery, Navigation And Monitoring, Tele-medicine, Broadcasting, Other Applications
4) By Vertical: Energy And Utility, Government And Defense, Transport And Cargo, Maritime, Mining And Oil And Gas, Agriculture, Communication Companies, Corporates Or Enterprises, Media And Broadcasting, Other Verticals
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Major companies operating in the satellite telecommunications market report are Société Européenne des Satellites, Viasat Inc., Telesat Corporation, EchoStar Corporation, L3Harris Technologies Inc., SKY Perfect JSAT Holdings Inc., Gilat Satellite Networks Ltd., Cobham Satcom, Inmarsat Global Limited, Intelsat S.A., Thuraya Telecommunications Company, Honeywell International Inc., Iridium Communications Inc., General Dynamics Corporation, Qualcomm Technologies Inc., Airbus SE, China Aerospace Science and Technology Corporation, Maxar Technologies Inc., Thales Group, Orbcomm Inc., ST Engineering iDirect Inc., Baylin Technologies Inc., KVH Industries Inc., Comtech Telecommunications Corp., Globalstar Inc., Speedcast International Limited, Hispasat S.A., Ligado Networks LLC, Lockheed Martin Corporation, Northrop Grumman Corporation, SES Americom Inc., Space Exploration Technologies Corp., Telespazio Spa .
Contents of the report:
1. Executive Summary
2. Satellite Telecommunications Market Report Structure
3. Satellite Telecommunications Market Trends And Strategies
4. Satellite Telecommunications Market - Macro Economic Scenario
5. Satellite Telecommunications Market Size And Growth
…..
27. Satellite Telecommunications Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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