Press release
Emerging Sub-Segments Transforming the Satellite Connectivity Market Landscape
Satellite Connectivity Market
Forecasted Growth Trajectory of the Satellite Connectivity Market
The satellite connectivity market is projected to expand significantly, reaching a value of $13.24 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 9.5%. Several factors are propelling this upward trend, including the rapid deployment of low earth orbit (LEO) satellite constellations that improve access to high-speed satellite internet. Additionally, rising demand for mobility services in sectors such as aviation, maritime, and connected vehicles contributes to market expansion. Innovations in user terminals and consumer communications devices are making satellite connectivity more affordable and accessible. Moreover, an increase in climate-related disasters is boosting the need for emergency satellite services, while the integration of satellite connectivity with 5G and hybrid networks is broadening the scope and capabilities of these services. Key trends shaping this market include growing connectivity needs in remote and underserved areas, expansion of satellite-based mobility services, proliferation of LEO constellations, greater reliance on satellite backhaul by telecom operators, and embedding satellite technology into consumer electronics.
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Key Players Influencing the Satellite Connectivity Market Landscape
Several major corporations are actively shaping the satellite connectivity industry. These include General Dynamics, Honeywell International Inc., Thales Group, L3Harris Technologies Inc., Leonardo S.p.A, SpaceX Corp., Viasat Inc., SES, Aselasan AS, Inmarsat Global Ltd., Intelsat LLC, Marlink SAS, Iridium Communications Inc., Telesat, Hughes Network Systems LLC, Globalstar Inc., Astranis Space Technologies, Norsat International Inc., Telemar Group, and OneWeb Technologies Inc. A notable recent development occurred in May 2023 when Viasat Inc., a leading US-based satellite technology firm, acquired Inmarsat for $7.3 billion. This deal strengthens Viasat's satellite communications capabilities by combining Inmarsat's expertise in GEO mobility services with Viasat's advanced broadband technologies, particularly benefiting aviation, maritime, and government sectors. Inmarsat is headquartered in the UK and specializes in satellite connectivity services.
Innovations and Emerging Trends Shaping Satellite Connectivity
Companies in the satellite connectivity sector are increasingly investing in cutting-edge technologies like phased array antennas. These antennas enable electronic beam steering and multi-target tracking without any moving components, delivering high-speed and precise communication and radar functions. Phased array systems consist of numerous small antenna elements arranged strategically to create a focused beam of radio waves for efficient signal transmission. For example, Amazon, a US-based firm known for e-commerce, cloud computing, and satellite communications, plans to launch Kuiper internet satellites by 2025. This constellation of LEO satellites, part of Project Kuiper, aims to provide global broadband internet access, especially targeting underserved and remote regions. The initiative also supports enhanced connectivity for Internet of Things (IoT) devices, facilitating seamless communication in locations lacking traditional infrastructure.
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Detailed Segment Overview of the Satellite Connectivity Market
The satellite connectivity market can be categorized into several key segments for a clearer understanding:
1) By Component: Video, Fixed, and Mobility
2) By Orbit: Elliptical, Geostationary Earth Orbit (GEO), Low Earth Orbit (LEO), and Medium Earth Orbit (MEO)
3) By Application: Earth Observation, Communication, Navigation, or Surveillance
4) By End User: Civil and Earth Observation, Government and Military, Commercial
Further subsegments include:
- Video: Broadcast Video, Video Contribution and Distribution, and Direct-To-Home (DTH) services
- Fixed: Consumer Broadband, Enterprise and Government Networks, Backhaul and Trunking
- Mobility: Maritime, Aeronautical, and Land-Mobile sectors
This detailed segmentation helps in understanding the diverse applications and users driving the satellite connectivity market's growth.
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