The Global Satellite Services Market was valued at USD 131.25 Billion in the year 2020. The reasons attributing to the growth of the market are rapid digitalisation, increasing use of emerging consumer service industries in developing countries and rising demand for Satellite TV, Radio, Internet, Communication with high efficiency. Today, business drivers and political/social drivers, in combination with technological advancements, have greatly accelerated the expanded use of Satellite services beyond their traditional industries and traditional roles.
The Satellite Service Market is further expected to flourish with increasing government support for technical enhancement in Satellites across the globe. The growing acceptance of Satellite Services Market with services type (Consumer Services, Fixed Satellite, Mobile Satellite, Earth Observation) has substantially led to the increasing use of Satellite services Also, the growing demand for many end user industries can support satellite services market in helping consumers to attain more technological satisfaction with greater efficiency.
The extent of the impact of the COVID-19 pandemic on the business in fiscal year 2020 and beyond will depend on many factors, including the duration and scope of the public health emergency, the extent, duration and effectiveness of containment actions taken, the extent of its disruption to important global, regional and local supply chains and economic markets and the impact of the pandemic on overall supply and demand, consumer confidence, discretionary spending levels and levels of economic activity. NASA noted that economic and social shutdowns in response to the COVID-19 pandemic have led to noticeable changes in Earth’s environment, at least for the short term.
The American regional market is expected to become the largest satellite services market in the forecast period. The major players operating in the American satellite services market include Global Eagle, Eutelsat, Lockheed Martin, EchoStar and many other companies. These players offer a diverse portfolio of satellite services to complete to the demands of consumers in the region. These companies are providing affordable, efficient, and with no delay satellite services for many people in rural and urban area. These players have also acquired and collaborated with other players in the region for portfolio expansion and geographic penetration.
As the world is continuously fighting the rapid spread of the COVID-19 pandemic, satellites are playing a very crucial role in helping to safeguard the people and in providing the services that people need as they are shifting towards remote working and home learning. Main areas of COVID-19 impact in the satellite industry have been interrupted supply chains and delayed deployments in some cases as well as a reduction of demand for Occasional Use services due to the postponement or cancellation of sports and other events.
Scope of the Report
- The report presents the analysis of Satellite Services Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Satellite Services Market by End User (Media & Entertainment, Retail & Enterprise, Aerospace, Government, Aviation, Defense)
- The report analyses the Satellite Services Market by Service Type (Consumer Services, Fixed Satellite, Mobile Satellite, Earth Observation).
- The Global Satellite Services Market has been analysed By Region (America, Europe, APAC, MEA).
- The Global Satellite Services Market has been analysed By Country (United States, Mexico, Brazil, UK, Germany, France, China, India, Japan, Saudi Arabia).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by End Users, by Service Type
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include SES, Intelsat, Lockheed Martin, EchoStar, Dish Network, Boeing, Eutelsat, Northrop Grumman, Iridium, ViaSat.
Key Target Audience
- Satellite Services Providers
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities