Global Optical Satellite Communication Market is valued at approximately USD 7.52 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 21.30% over the forecast period 2022-2029. Optical satellite communication, also known as free-space optical communication (FSOC), is a method of communication that uses laser beams to transmit information through space, typically between satellites or from satellites to ground-based receivers. This technology leverages the properties of light, such as its high bandwidth, narrow beam divergence, and low interference, to enable high-speed and high-capacity data transmission in space. The Optical Satellite Communication market is expanding because of factors such as a rise in demand for multimedia services and increase in number of Mobile Phone Users.

Optical satellite communication offers several advantages over traditional radio frequency (RF) communication methods, such as radio waves and microwaves. Its importance has progressively increased during the last few decades. According to the Statista, in 2021, the value of the media and entertainment business reached USD 2.34 trillion and expected to reach USD 2.93 trillion by the end of 2026. Furthermore, in 2022, "Digital video content was selected by 87% of respondents in a survey conducted on "Most used media services" in the United States. Another important component driving space increase is the number of Mobile Phone Users. As per Statista, the global number of smartphone mobile network subscriptions reached over 6.6 billion in 2022 and is expected to exceed 7.8 billion by 2028. Furthermore, the countries holding the most smartphone mobile network subscriptions were China, India, and the United States. In addition, in 2021, the United States accounts most significant smartphone penetration rates with 82.2% population around the world. Also, increasing spending in space missions and rising technological advancement in Optical Satellite Communication would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Optical Satellite Communication stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Optical Satellite Communication Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the growth in the telecommunication sector and high adoption of advanced technologies within the region. According to the Statista, in April 2022, the United States accounts for about 3,433 operational artificial satellites out of the 5,465 active artificial satellites around the Earth orbit. Furthermore, Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as in the usage of mobile phones and a rise in the number of digital satellite broadcasting in the market space.

Major market player included in this report are:
Analytical Space, Inc. (US)
ATLAS Space Operations, Inc. (US),
National Aeronautics and Space Administration (US),
BridgeSat Inc. (US),
Maxar Technologies (US),
Mitsubishi Electric Corporation (Japan),
SITAEL S.p.A. (Japan),
Ball Aerospace & Technologies (US),
Laser Light Communications (US)
Hisdesat Servicios Estrat?gicos, S.A.

Recent Developments in the Market:
In June 2022, Mitsubishi Electric Corp launched an optical receiver prototype for laser communication terminals. The prototype is the very first to incorporate space optical communication utilizing laser beams as well as a capability to determine the location of incoming rays in the 1.5-m band, which is a general-purpose band utilized for terrestrial optical fiber communications.

Global Optical Satellite Communication Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Component

By Application
Surveillance and Security,
Earth Observation,
Tracking and Monitoring,
Research and Space Exploration

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World