Global Satellite Communication (SATCOM) Market to Grow at 8.03% during 2024-2032, Impelled by Expanding Aerospace and Aviation Industry

May 23, 2022 | Technology & Media

The latest report by IMARC Group, titled “Satellite Communication (SATCOM) Market Report by Component (Equipment, Services), Application (Voice Communication, Broadcasting, Data Communication), End Use Industry (Aerospace and Defense, Transportation and Logistics, Agriculture, Government and Military, Media and Entertainment, and Others), and Region 2024-2032,” finds that the global satellite communication (SATCOM) market is expected to grow at a CAGR of 8.03% during 2024-2032. Satellite communication (SATCOM) is an artificial satellite-based communication system that supports data link channels. It includes the transmission of radio waves through satellites to capture and process the information through antennas and transponders installed at different locations on Earth. It consists of a data unit, high power amplifier, antenna, and a steerable beam that transmits the information in voice, audio and video formats through electromagnetic waves and carrier signals. Owing to these properties, SATCOM finds extensive applications across various industries for radio broadcasting, navigation, remote sensing, and weather monitoring.

Global Satellite Communication (SATCOM) Market Trends:

The market is primarily driven by the expanding aerospace and aviation industries. In addition, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and the introduction of portable SATCOM systems that enable the smooth functioning of autonomous vehicles, and the deployment of remote and terrestrial networks represent another major growth-inducing factor. Besides this, SATCOM is widely utilized in the military and defense sector for wide area network (WAN) communications, cellular backhaul, internet trucking, television broadcasting and rural telephony. This, coupled with increasing partnerships and mergers and acquisitions (M&As) among key players, is also contributing to the market growth. For instance, Viasat, Inc. signed a partnership agreement with SKY Brazil, one of Brazil’s leading satellite pay-TV operators, in January 2021 to expand the availability of dependable and fast satellite internet throughout Brazil. Furthermore, significant developments in telecommunication infrastructure and the rising utilization of cloud-based services for ground mobility platforms are creating a favorable market outlook across the globe. 

Market Summary:

  • Based on the component, the market has been bifurcated into equipment (transmitter/transponder, antenna, transceiver, receiver, modem/router, and others) and services. 
  • On the basis of the application, the market has been classified into voice communication, broadcasting, and data communication. 
  • Based on the end use industry, the market has been segmented into aerospace and defense, transportation and logistics, agriculture, government and military, media and entertainment, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. 
  • The competitive landscape of the market has been studied in the report, with some of the key players being Cobham Limited, EchoStar Corporation, General Dynamics Corporation, Gilat Satellite Networks, Honeywell International Inc., L3Harris Technologies Inc., SES S.A, SKY Perfect JSAT Holdings Inc, Telesat (Loral Space & Communications Inc.), Thuraya Telecommunications Company (Al Yah Satellite Communication Company) and Viasat Inc.

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Global Satellite Communication (SATCOM) Market to Grow at 8.03% during 2024-2032, Impelled by Expanding Aerospace and Aviation Industry
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