What is the Satellite Communication Market Growth?

Satellite Communication Industry Overview

The global satellite communication market size was valued at USD 71.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2030. The increasing need for mobile satellite services and small satellites for earth observation services across the energy, oil & gas, defense, and agriculture industries is propelling the market growth. Satellite Communication (Satcom) has become an integral part of the modern communication infrastructure that involves an artificial satellite in a network. This is expected to propel the growth of the market.

Satellites are deployed across several orbits, including geostationary, elliptical, Molniya, and low Earth orbits. Mobile applications, traditional point-to-point communications, and TV and radio program broadcasting are some of the typical satcom applications. Rural and developing areas worldwide have adopted satellite communication to enhance communication technology infrastructure.

Gather more insights about the market drivers, restraints, and growth of the Global Satellite Communication Market

Satellite communication services provide secure bandwidth capacity, considered ideal for military operations conducted in remote locations with inadequate and unreliable communications infrastructure. The revenue generated from the Fixed Satellite Services (FSS) used in government and military applications is anticipated to register significant growth in the forthcoming years.

Governments across the globe are augmenting their military communication systems with commercial satellite capabilities. This is because of the increasing efforts of the government to support the rising communication requirements for various applications that include Airborne Intelligence, Surveillance, Reconnaissance (AISR), and Communications on the Move (COTM). These services require ubiquitous and stable coverage that is very well offered by satellite services.

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Maritime Satellite Communication Market - The global maritime satellite communication market size to be valued at USD 4.74 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% during the forecast period.

Underwater Communication System Market - The global underwater communication system market size was worth USD 3.08 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.1% from 2022 to 2030.

Satellite Communication Industry Segmentation

Grand View Research has segmented the global satellite communication market based on component, application, vertical, and region:

Satellite Communication Component Outlook (Revenue, USD Million, 2017 - 2030)

• Equipment
• Services

Satellite Communication Application Outlook (Revenue, USD Million, 2017 - 2030)

• Asset Tracking/Monitoring
• Airtime
• Drones Connectivity
• Data Backup And Recovery
• Navigation And Monitoring
• Tele-medicine
• Broadcasting
• Others

Satellite Communication Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• Energy & Utility
• Government & Defense
• Transport & Cargo
• Maritime
• Mining And Oil & Gas
• Agriculture
• Communication Companies
• Corporates/Enterprises
• Media & Broadcasting
• Others

Satellite Communication Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA (Middle East & Africa)

Market Share Insights:

September 2019: SES SA and Dataset, which provides gateway internet services, entered into a partnership agreement to provide end-to-end connectivity in the Mediterranean Sea, servicing cargo and passengers across destinations including Italy, Spain, Greece, and Morocco.

Key Companies profiled:

Some prominent players in the global Satellite Communication Industry include

• SES 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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