Global Satellite Communication (SATCOM) Equipment Market: Major Trends Reshaping the Future of the Industry

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What Will the Satellite Communication (SATCOM) Equipment Industry Market Size Be by 2025?_x000D_
In recent times, the satellite communication (satcom) equipment market has experienced a quick expansion. It's predicted that the size of the market will increase from $41.99 billion in 2024 to $46.8 billion in 2025, showing a compound annual growth rate (CAGR) of 11.5%. The historic period's growth is due to several factors such as the extension of satellite-based broadcasting, a surge in military and defense satellite communication, rising need for broadband connectivity, expansion in remote sensing and earth observation, and an increased reliance on satellite technology in the defense and the governmental sectors._x000D_
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What's the Long-Term Growth Forecast for the Satellite Communication (SATCOM) Equipment Market Size Through 2029?_x000D_
In the coming years, the market size for satellite communication (satcom) equipment is predicted to witness swift expansion. The growth is projected to reach a value of $87.29 billion by 2029, with a compound annual growth rate (CAGR) of 16.9%. Factors contributing to the growth during the forecast period comprise deployment of high-capacity geostationary satellites, 5G network integration, increasing demand for low earth orbit (LEO) satellite constellations, expansion of satellite internet services, and a focus on secure satellite communication. The forecast period will also see major trends such as the miniaturization of satellite communication equipment, application of software-defined satellite technology, the hybrid solutions of satellite and terrestrial communication, incorporation of artificial intelligence into satcom systems, and the use of high-frequency satellite bands for enhanced connectivity._x000D_
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What Are the Key Growth Drivers Fueling the Satellite Communication (SATCOM) Equipment Market Expansion?_x000D_
The growth in the satellite communication (SATCOM) equipment market is being propelled by the rising number of mobile satellite services and small satellites. Mobile satellite services (MSS) provide two-way voice and data communication to individuals across the globe, particularly those who are travelling or based in remote areas. The increased adoption of small and mobile satellites is providing pivotal flexibility for earth science research projects. These projects utilize satellite communication equipment to enhance scientific and human exploration while reducing the cost of new space missions and providing increased access to space. For example, in June 2023, the US-based Satellite Industry Association reported that the Satellite Ground Segment industry generated more than $145 billion in 2022, backed by over 7 billion satellite-enabled smartphones and growing broadband and GNSS terminals worldwide. Consequently, the rising presence of mobile satellite services and small satellites is fuelling the demand and growth in the satellite communication (SATCOM) equipment market._x000D_
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What Are the Key Trends Driving Satellite Communication (SATCOM) Equipment Market Growth?_x000D_
Product advancements and new solutions are becoming a pivotal trend in the satellite communication equipment market. Predominant firms in this sector are keen on initiating innovative products to reinforce their market stance. For example, Hanwha Systems, an aerospace and defence corporation based in South Korea, launched a land, marine, and portable form of its mobile satellite communication antenna in September 2023, through its auxiliary unit, Hanwha Phasor. This unveiling took place at the Defense & Security Equipment International (DSEI) 2023 in London. The land variant, suitable for first responders, heavy artillery platforms, and command-and-control vehicles like Humvees, will be available for customer purchase by the end of 2024._x000D_
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How Is the Satellite Communication (SATCOM) Equipment Market Segmented?_x000D_
The satellite communication (satcom) equipmentmarket covered in this report is segmented - _x000D_
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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)_x000D_
2) By Component Type: Amplifiers, Transceivers, Space Antennas, Transponders, Other Components_x000D_
3) By Application: Navigation, Scientific Research, Communication, Remote Sensing, Other Applications_x000D_
4) By End-Use: Commercial, Government and Military _x000D_
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Subsegments:_x000D_
1) By Large Satellite (>2500 KG): Geostationary Satellites, High-Throughput Satellites (HTS)_x000D_
2) By Medium Satellite (501 - 2500 KG): Communication Satellites, Earth Observation Satellites_x000D_
3) By Small Satellite (1 - 500 KG): Microsatellites, Nanosatellites_x000D_
4) By CubeSat (0.27 - 27 Cubic Units of 10 cm): 1U CubeSat (10 cm x 10 cm x 10 cm), 3U CubeSat (10 cm x 10 cm x 30 cm), 6U CubeSat (10 cm x 20 cm x 30 cm)_x000D_
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Which Companies Are Leading the Charge in Satellite Communication (SATCOM) Equipment Market Innovation?_x000D_
Major companies operating in the satellite communication (SATCOM) equipment market include 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 _x000D_
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Which Regions Are Leading the Global Satellite Communication (SATCOM) Equipment Market in Revenue?_x000D_
North America was the largest region in the satellite communication (SATCOM) equipment market in 2024. 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_x000D_
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