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The Business Research Company's Satellite Communication (SATCOM) Equipment Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The satellite communication (satcom) equipment market has grown significantly in recent years, expanding from $37.96 billion in 2023 to $42.92 billion in 2024, with a compound annual growth rate (CAGR) of 13.1%. This growth in the historical period is driven by factors such as the expansion of satellite-based broadcasting, increased use of satellite communication in military and defense, rising demand for broadband connectivity, growth in remote sensing and earth observation, and the growing application of satellite technology in the defense and government sectors.
What Is The Estimated Market Size Of The Global Satellite Communication (SATCOM) Equipment Market And Its Annual Growth Rate?
The satellite communication (satcom) equipment market is expected to experience rapid growth in the coming years, reaching $74.25 billion by 2028 with a compound annual growth rate (CAGR) of 14.7%. This growth is attributed to the deployment of high-capacity geostationary satellites, integration with 5G networks, rising demand for low Earth orbit (LEO) satellite constellations, the expansion of satellite internet services, and a growing focus on secure satellite communication.
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Growth Driver Of The Satellite Communication (SATCOM) Equipment Market
The rising adoption of mobile satellite services (MSS) and small satellites is a key driver of growth in the satellite communication (SATCOM) equipment market. MSS provides two-way voice and data communications to individuals in remote or mobile locations worldwide. The widespread use of small satellites and mobile satellites is increasing due to their ability to offer flexibility for earth science research missions. SATCOM equipment enables small satellites to help scientists advance scientific research, enhance human exploration, reduce the cost of space missions, and increase accessibility to space.
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Which Market Players Are Driving The Satellite Communication (SATCOM) Equipment Market Growth?
Key players in the 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.
What Are the Key Trends That Influence The Satellite Communication (SATCOM) Equipment Market Size?
Leading companies in the satellite communication equipment sector are concentrating on developing innovative products and solutions to enhance their market position. These innovations are aimed at improving performance, expanding capabilities, and addressing the evolving needs of industries relying on satellite communication technology.
How Is The Global Satellite Communication (SATCOM) Equipment Market 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
Geographical Insights: North America Leading The Satellite Communication (SATCOM) Equipment Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Satellite Communication (SATCOM) Equipment Market Definition
Satellite communication (SATCOM) equipment refers to electronic devices designed for communication with satellites orbiting Earth or in space. This equipment includes various components such as mounting styles, product types, and connector interfaces, facilitating communication. SATCOM is commonly used for point-to-point communications, mobile applications, and the distribution of TV and radio programs. It enables the transmission of information between locations via communication satellites, playing a crucial role in the transmission, conditioning, and reception of signals in global telecommunications.
Satellite Communication (SATCOM) Equipment Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global satellite communication (satcom) equipment market report covering trends, opportunities, strategies, and more
The Satellite Communication (SATCOM) Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on satellite communication (satcom) equipment market size, satellite communication (satcom) equipment market drivers and trends, satellite communication (satcom) equipment market major players and satellite communication (satcom) equipment market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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