Global VSAT (Very Small Aperture Terminal) Market is valued approximately USD 8.80 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.50 % over the forecast period 2020-2027. Very small aperture terminals are communication terminals that receive and transmit audio, text and video data through a satellite broadband communication internet services. A VSAT network comprises of a main hub or station sites located in remote places, which communicate with the geostationary satellite. These networks provide wireless connectivity in underserved and remote areas that are not covered by wireline networks. The growing need for the VSAT system in the maritime sector along with the increasing use of ultra-compact Ku-band VSATs for tactical UAVs is anticipated to drive the growth of the market. Ships must be linked to the rest of the world during long voyages for a multitude of reasons. VSAT-equipped shipped will offer high-speed broadband connectivity for business activities such as video conferencing, ERP, personal communication such as video messaging, email and streaming. However, issues with connectivity at sea is hampering the growth of this market. Further, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. In January 2020, Orbit Communication systems developed an innovative new Ka-band multi-purpose terminal. This terminal can deliver high throughout wideband communications.
The regional analysis of global VSAT (Very Small Aperture Terminal) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the government efforts to supports the maritime transportation system, the merchant marines, and other elements of the maritime industry. Also, rising demand for advanced VSAT systems in the maritime industry is expected to create positive outlook for the growth of the region. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Orbit Communications System Ltd
General Dynamics Corporation
Honeywell International Inc.
L3Harris Technologies, Inc
Norsat International Inc
Hughes Network Systems LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Government and Military Operations
Oil and Gas Communications
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global VSAT (Very Small Aperture Terminal) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers