Global Satellite Communication Market is valued approximately at USD 62.19 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.2% over the forecast period 2020-2027. Satellite Communication is sending, receiving and processing of information or in other words telecommunication. It relays and amplifies radio telecommunication signals via a transponder. The growing need for uninterrupted communication in various industries and increasing need for high throughput satellite services will drive the market growth. Moreover, increasing use of internet of things (IoT) and growing fleet of autonomous and connected vehicles are the few factors responsible for growth of the market over the forecast period. The rising IoT spending along with the increasing demand for wireless distributed control system in Asia pacific regions, may act as a major driving factor to the growth of the market during the forecast period. According to Statista, the China led the Asia Pacific region in terms of IoT spending, spend around USD 168 billion in 2019. Further the number of internet connections in China was 1.59 billion in 2017 and has risen by 6 billion in 2020. Furthermore, the introduction of products and services along with other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 25th October 2018, Viasat Inc., enter into an agreement with SpaceX to launch its ViaSat-3 satellite missions in the 2020 - 2022 timeframe from the Launch Complex 39A (LC-39A) at NASA’s Kennedy Space Center in Florida. This mission aims to deliver terabits of data from space to meet growing global broadband demand and will directly-inject close to geostationary orbit. Whereas, high development and maintenance cost of earth station infrastructures to support satcom devices the growth of global Satellite Communication market during the forecast period.
The regional analysis of global Satellite Communication 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 across the world owing to the rising demand for continuous communication by the defense industry and increased demand for SATCOM equipment by the US defense department. 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:
L3 Technologies, Inc.
Thuraya Telecommunications Company
SKY Perfect JSAT Group
Gilat Satellite Networks
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:
By End-Use Industry:
Aerospace & Defense
Transportation & Logistics
Government & Public Safety
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 Satellite Communication Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers