Global Satellite Communication (SATCOM) Market 2020 can touch a size of USD 41,860 Million by 2025, estimates MRFR (Market Research Future). The market growth between 2019 and 2025 (forecast period) is expected to be at a rate of 8.40%, adds MRFR. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Primary Drivers and Top Restraints
Satellite industry has observed a host of innovations in the past few decades, which include the introduction of high-throughput satellites that use Ku-band, primarily targeting the maritime and aeronautical markets. Further, the continuous adoption of HTS/high-throughput satellite systems, like Intelsat, Inmarsat, ViaSat, SES, Tele sat and Eutelsat has helped boost the total satellite supply. The increase in the total supply of satellites could be favorable for the SATCOM market in the following years. Satellite communication’s demand is further bolstered by the accelerated number of sensors and IoT-connected devices, including fleet management, autonomous shipping, cybersecurity, and performance computing applications. Moreover, regulatory incentives on the crew, passengers and safety communications foster the need for higher media content, as well as modern concepts associated with smart shipping. These factors are compelling the maritime operators to take up advanced satellite communication systems, giving a major boost to the market growth. Also, the strong demand for SATCOM in the aviation industry for efficient airline operations and air traffic management will remain the global market’s USP in the ensuing period.
Get Free Sample Copy of “Satellite Communication Market” @ https://www.marketresearchfuture.com/sample_request/8466
Technological innovations that are working in favor of the global market include the emergence of gyro-stabilized ground terminals, high-speed broadband modems, multi-frequency dish antennas, along with the introduction of all-plastic designs that prove to be highly resilient to offshore adverse weather conditions. Some of the fastest growing applications of SATCOM include personal locator beacons, GMDSS services, and the recent satellite emergency notification devices. In recent times, the COVID-19 impact has been severe on every industry, including the satellite sector. But, since satellite communication facilitates quarantined diagnosis while bringing down face-to-face interactions between the doctor and patient, its use has risen considerably in the healthcare industry following the strict lockdown. However, the SARS-CoV-2 pandemic has left a severe impact on global trade along with shipping industries, given their heavy reliance on human interaction and travel, which can restrain the market growth for satellite communication to some extent.
Some of the most Affluent Market companies are AVL Technologies, Inc. (US), Hughes Network Systems LLC (US), Campbell Scientific, Inc. (US), INTELLIAN TECHNOLOGIES INC. (South Korea), ASELSAN A.Ş. (Turkey), Network Innovations (US), ND SATCOM GmbH (Germany), Satcom Global Ltd (UK), China Satellite Communication Co. Ltd. (China), Airbus S.A.S (France), HOLKIRK Communications Ltd. (UK), ST Engineering Group (Singapore), to name a few.
Product, vertical, technology and end-use are the key market segments analyzed in the MRFR study.
SATCOM Receiver, SATCOM Transceiver, SATCOM Transponder, SATCOM Modem, SATCOM Antenna and more are the top product-based segments listed in the report. SATCOM transceiver has been in the lead since the year 2020, as it provides better efficiency, scalability, and security. However, SATCOM antenna segment could proceed at the fastest rate during the conjectured period.
Verticals studied in the report include government & defense, commercial and more. Government & defense segment controls the SATCOM market and has been doing so since 2020.
Significant technologies considered in the market study are SATCOM Telemetry, SATCOM VSAT, SATCOM-on-the-Pause, SATCOM-on-the-Move, and others. SATCOM VSAT dominates the market since it provides high speed broadband communications for private networks or the Internet. The technology has applications in satellite newsgathering, mining camps and oil & gas camps. SATCOM Automatic Identification System (AIS) can however expand at the highest rate in the coming years.
End-users in the worldwide Satellite Communication Market are Maritime Satcom Equipment, Land Fixed Satcom Equipment, Airborne Satcom Equipment, Portable SATCOM Equipment, Land Mobile SATCOM Equipment, and others. Land Mobile SATCOM Equipment secured the top position in 2020, owing to the rising use of armored vehicles and autonomous cars by military and commercial users. Maritime SATCOM equipment can grow at the fastest pace during the given period.
The regional study of the satellite communication market comprises Latin America, Europe, Asia Pacific/APAC, MEA/Middle East and Africa as well as North America.
North America’s winning streak in the SATCOM market can continue throughout the review period, thanks to the robust presence of world-renowned companies such as L3 Harris Technologies Inc. (US), Honeywell International, Inc. (US) and more. The prevalent trend of connected and autonomous ships also benefits the North American market.
The APAC market is set to burgeon at the fastest rate in the following years, given the rising military spending in countries like India and China along with the increasing air traffic. These factors are compelling airline operators and military forces to spend heavily on advanced SATCOM equipment. Also, the mounting safety concerns in APAC with regard to humans and the environment also encourage the use of advanced tactical communication systems in various mission-critical operations. The fast-expanding economies such as China are increasing their capital expenditure with respect to mission-critical operations; a factor that can be quite favorable for the SATCOM market in the near future.
Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/satellite-communication-market-8466
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Company Name: Market Research Future
Contact Person: Sakshi Mishra
Email: Send Email
Address:Office No. 528, Amanora Chambers Pune – 411028