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Satellite Antenna Industry Forecast 2024: Market Trends and Innovations
Satellite Antenna Industry
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According to The Business Research Company's, The satellite antenna market size has grown rapidly in recent years. It will grow from $3.27 billion in 2023 to $3.61 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to global expansion of satellite communication, demand for high data transmission rates, rise in demand for broadcasting services, military and defense applications, exploration and navigation needs.
The satellite antenna market size is expected to see rapid growth in the next few years. It will grow to $5.41 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to emergence of low earth orbit (LEO) satellites, demand for high-frequency bands, expansion of 5G satellite networks, increasing space exploration missions. Major trends in the forecast period include integration of artificial intelligence (AI) in antenna systems, demand for high-throughput satellite (HTS) systems, focus on antenna design for electrically small satellites, increased emphasis on antenna testing and simulation, rising interest in inter-satellite links (ISL).
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Market Drivers and Trends:
The rise in demand for small satellites is driving the satellite antenna market. Small satellites are cost-efficient and cheaper to launch while offering effective connectivity. The increased deployment of small satellites has fueled innovation and expansion in the satellite antenna industry, creating a desire for more compact, cost-effective, and technologically sophisticated antenna systems. For instance, the United States Government Accountability Office (GAO) and Euroconsult are aiming to launch a considerable number of tiny satellites by 2030, there are about 5,500 active satellites in orbit as of spring 2022, with one projection predicting an additional 58,000 launches by 2030, largely in low Earth orbit (LEO). Therefore, the rising demand for small satellite will boost the market demand for satellite antenna.
The development of ultra-compact satellite antennas for defense and combat purposes is a key trend in the satellite antenna market. The ultra-compact satellite antenna offers high data rate transmission for IP-based voice and video transfer capabilities since it operates on multiple bands such as Ku, KA, X, and Q. An ultra-compact satellite antenna connects ground control stations to advanced ground combat vehicles while offering a seamless transfer of information and communication capabilities, which are vital for ground troops in a crucial mission. In 2021, ThinKom Solutions, a US-based satellite antenna manufacturer, was selected by the US Army for the supply of phased-array satellite terminals as part of a pilot program that evaluates communications on-the-move (COTM) options for U.S. Army Armored Brigade Combat Teams (ABCT).
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Major Key Players of the Market:
Airbus SAS, General Dynamics Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Thales Group, L3Harris Technologies, CommScope Holding Company Inc., Viasat Inc., Cobham plc, Advantech Wireless Inc., EchoStar Corporation, Romantis GmbH, Maxar Technologies Inc., Inmarsat Global Limited, Skyware Technologies Ltd., Airbus Defence and Space Government Solutions Inc., MacDonald Dettwiler and Associates Ltd., Communications & Power Industries LLC, Comtech Telecommunications Corp, Gilat Satellite Networks Ltd., Intellian Technologies Inc., Satcom Direct Communications Inc., SpaceStar Technology Applications Co Ltd., Kymeta Corporation, Norsat International Inc., TECOM Industries Inc., C-COM Satellite Systems Inc., Pulse Power & Measurement Ltd., Elite Antennas Ltd., Orbital Systems (Pty) Ltd., SatPro Agro Pvt Ltd., Skytech Research Ltd., ThinKom Solutions Inc.
Satellite Antenna Market 2024 Key Insights:
• The satellite antenna market size is expected to see rapid growth in the next few years. It will grow to $5.41 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
• Small Satellite Surge Is Driving Growth In The Satellite Antenna Market
• Advancements In Ultra-Compact Satellite Antennas Transforming Military Communication Landscape
• North America was the largest region in the satellite antenna market in 2023
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