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

The new report published by The Business Research Company, titled ""Satellite Communication (SATCOM) Equipment Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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

Contents of the report:
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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