The Global Satellite Communication Market was $3.46 Bn in 2020, and it is expected to reach $6.39 Bn by 2030. It is eventually growing at a commendable high compound of annual growth rate CAGR of 6.3% between 2020-2030. The global satellite communication market has witnessed high growth in the forecast years owing to the growing adoption of the satellite communication equipment in space exploration, telecommunication, and telemetry. In addition, the increasing fleet of autonomous and connected vehicles is the key factor for market growth over the forecast period. Apart from that, the increasing demand for satellite communication in the aviation industry propels the market growth in the forecast period. Now, moving forward, the robust demand for the Global Satellite Communication Market in the Communication department is further estimated to create new necessities and augment the market of growth over the forecast period of 2020-2030.
Global Satellite Communication Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The global Satellite Communication market is segmented by product, vertical, end-use, and technology. By Product, the global satellite communication market is divided into Overview, Satcom Receiver, Satcom Transmitter/Transponder, Satcom Transceiver, Satcom Antenna, Satcom Modem/Router, and Others. By Vertical, the satellite communication market has been bifurcated as Commercial, Telecom & IT, Scientific Research & Development, Transportation & Logistics, Media & Entertainment, Others, Government & Defense, Military, Homeland Security & Emergency Management, and Public Safety. By End-Use, the global satellite communication market segmented as Portable Satcom Equipment, Land Mobile Satcom Equipment, Maritime Satcom Equipment, Airborne Satcom Equipment, and Land Fixed Satcom Equipment. By Technology, the global satellite communication market is divided into Overview, Satcom Vsat, Satcom-On-The-Move (SOTM), Satcom-On-The-Pause (SOTP), Satcom Telemetry, and Satcom Automatic Identification System.
By Region, North America is Holding the Major Market Share
Global Satellite Communication Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America has a significant share among those regions as the region has always been most receptive to the adoption of satellite communication. The advanced technology and huge investment fir satellite communication in the developed region are boosting market growth. However, the military and aerospace demand for the satellite is expected to boost the market growth of the satellite communication market. Apart from North America, other regions such as Asia pacific or Europe are expected to increase the growth of the market in the forecast period of 2020-2030.
Major Players in the Global Satellite Communication Market
The report covers a detailed outlook of the company, and it includes the market share and company or industry profiles of key players operating in the global market. Key players in the report include Inmarsat plc (UK), Honeywell International, Inc. (US), L3 Harris Technologies, Inc. (US), Indra Sistemas, S.A. (Spain), General Dynamics Corporation (US), Cobham plc (UK), Viasat, Inc. (US), Iridium Communications Inc. (US), Qualcomm Technologies, Inc. (US), Gilat Satellite Networks (Israel), ASELSAN A.Ş. (Turkey), Intellian Technologies, Inc. (South Korea), Hughes Network Systems LLC (US), ST Engineering Group (Singapore), and Campbell Scientific, Inc. (US) among others.
The Global Satellite Communication Market Has Been Segmented into:
Global Satellite Communication Market: By Product
Global Satellite Communication Market: By Vertical
Global Satellite Communication Market: By End-Use
Global Satellite Communication Market: By Technology
Global Satellite Communication Market: By Region