A wide range of industrial applications use satellite communication, including media broadcasting, extending broadband coverage, setting up 5G communications systems, integrating and combining various wired and wireless technologies, earth observation, defence and security applications, and surveillance.
Satellite Communication (SATCOM) Market is valued at USD 80.33 billion in 2022 and is projected to reach a value of USD 169.70 billion in 2030 expanding at a CAGR of 9.8% over the forecast period of 2022-2030.
Market Overview:
Unabated demand for broadband communications persists, and it is not always location-based. These demands include the need for connectivity for passengers on planes, ships, and moving and stationary vehicles (including emergency vehicles). These three distinct platforms require constant connectivity throughout their routes, which frequently pass through underserved areas of major cities and less densely populated regions. These trends are anticipated to help the market under study flourish.
Since the entire process of launching a satellite to send data is so sensitive, cybersecurity has grown to be a key problem for satellite communication. Given that the vulnerabilities are mission-critical, the challenge is the potential harm that such cybersecurity threats could cause. Launch systems, communications, telemetry, tracking and command, and mission completion are some of the mission-critical weaknesses that are vulnerable to cybersecurity threats. Satellite communication's over-reliance on secure cyber capabilities throughout the satellite's lifetime raises severe questions and prevents widespread deployment.
The COVID-19 epidemic was a critical time for the commercial satellite sector. Due to its numerous uses in providing voice, data, and broadcast communications solutions as well as navigation, earth observation, remote sensing, and other specialised services essential for businesses, government clients, and consumers both domestically and globally, the demand for satellite communication has increased. International space agencies, like NASA, used communication satellites to show how COVID-19 changed the entire earth.
Market Trends:
Numerous trends that are expected to emerge over the next 18 months and beyond show that both the commercial and military satellite communication industries are developing. Some of the most crucial developments to keep an eye on include the rise in small satellites, the usage of low-Earth orbit (LEO), launches using reusable rocket launch vehicles, and new applications for 5G and the Internet of Things (IoT).
Since focusing on offering high bandwidth satellite transponders with increased transponder throughput and lower rates, satcom companies have altered their business strategies. A wireless communication, monitoring, and control device called a satcom transponder recognises an incoming signal and automatically reacts to it. It is projected that factors including rising consumer broadband demand, business enterprise network requirements, and the expansion of Ka-band and Ku-band services would fuel the expansion of the satellite transponder market. Additionally, recent space development missions by numerous space organisations, like China National Space Administration (China) and Indian Space Research Organization, have greatly raised overall demand (India).
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Satellite Communication (Satcom) Market: Segmental Analysis
Based On Component:
- Equipment
- SATCOM Transmitter/Transponder
- SATCOM Antenna
- SATCOM Transceiver
- SATCOM Receiver
- SATCOM Modem/Router
- Others
- Services
Based On Application:
- Asset Tracking/Monitoring
- Airtime
- M2M
- Voice
- Data
- Drones Connectivity
- Data Backup and Recovery
- Navigation and Monitoring
- Tele-medicine
- Broadcasting
- Others
Based On Vertical:
- Energy Utility
- Government Defense
- Government
- Emergency Responders
- Defense
- Transport Cargo
- Fleet Management
- Rail services
- Maritime
- Mining and Oil Gas
- Oil Gas
- Mining
- Agriculture
- Communication Companies
- Corporates/Enterprises
- Media Broadcasting
- Events
- Aviation
- Environmental Monitoring
- Forestry
- End User - Consumer
- Healthcare
- Others
Major Market Players:
ES S.A.; Viasat, Inc.; Intelsat; Telesat; EchoStar Corporation; L3 Technologies, Inc.; Thuraya Telecommunications Company; SKY Perfect JSAT Group; GILAT SATELLITE NETWORKS; Cobham Limited.
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