Government and defense will account for more than 2/5ths of the global market

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USA, Rockville MD, Aug. 09, 2022 (GLOBE NEWSWIRE) — During the forecast period 2022-2032, the satellite communications market is expected to grow at a CAGR of 9.4%, according to Fact.MR. In 2021, this market is expected to have a global valuation of US$59.32 billion and is expected to reach a sum of US$192.09 billion by 2032. The use of man-made satellites to provide communication links between various sites on Earth is known as satellite communication.

A communications satellite is an artificial satellite that uses a transponder to enhance and connect radio signals. It provides a communication channel between a source transmitter and a receiver located anywhere in the world. Satellite communication is widely used in television, telephone, radio, internet and military applications.

Because the high frequency radio waves used for telecommunications lines travel in a straight line, they are hindered by the curvature of the planet. Communication satellites play an important role in connecting signals around the curvature of the Earth, enabling communication between geographically isolated areas. Satellite communication uses a diverse set of radio and microwave frequencies.

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To avoid signal interference, international organizations have standards dictating which frequency ranges or bands are allocated to individual organizations. Accordingly, the allocation of the bands decreases the possibility of signal interference. For these reasons, the global satellite communications market is expected to grow throughout the forecast period.

Regionally, North America is becoming the most unstable region for satellite communications. The growth is tied to the defense industry’s growing desire for constant communication and the US Department of Defense’s increasing demands for SATCOM equipment. Moreover, the presence of a large number of SATCOM providers is driving the expansion of the satellite communications market. Additionally, as military communication facilities are modernized, the North American market is expected to grow at a rapid rate over the coming years.

Key insights from market research

  • In 2022, the global satellite communications market is expected to have a global market size of US$78.22 billion.
  • By component segment, the equipment segment will account for 28.5% of the global satellite communications market share in 2022.
  • By vertical type, government and defense segment will acquire a market size of 42% in 2022.
  • By application, the broadcasting category is expected to gain a market share of 22.2% and forecast a CAGR of 8.9%.
  • The APAC satellite communications market is expected to grow with a CAGR of 8.5% during the forecast period.
  • North America is expected to acquire 32.1% of the global market share in 2022.

“The growing need for mobile satellite services and tiny satellites for Earth observation in the oil and gas, energy, defense and agriculture sectors is driving the expansion of the market. Satellite communication, which uses an artificial satellite in a network, has become an essential component of modernn communications infrastructure,commented an analyst from Fact.MR.

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Competitive landscape

Companies strive to diversify their product lines by filing new molecular applications or expanding the applications of current compounds. Other strategies such as mergers and acquisitions, industry-academia collaborations to develop more marketable chemicals or sequencing technologies will influence current satellite communications market trends to gain competitive advantage.

  • Viasat, Company unveiled a partnership agreement with SKY Brazil, one of Brazil’s leading satellite pay-TV operators, in January 2021. The objective of the agreement was to improve the availability of reliable satellite internet and fast throughout Brazil.
  • Comtech Telecommunications Corp. and Gilat Satellite Networks Ltd. announced in 2020 that Comtech had agreed to purchase Gilat in a cash and stock transaction for $10.25 per share of Gilat common stock, with 70% paid in cash and 30% in Comtech common stock, for a total enterprise value of $532.5 million.

Key segments covered in the Satellite Communications Market report

  • By Making up :
    • Satellite communication equipment
      • SATCOM transmitter/transponder
      • SATCOM antenna
      • SATCOM transceiver
      • SATCOM receiver
      • SATCOM Modem/Router
    • Satellite communication services
  • By Application :
    • Asset Tracking/Monitoring
    • Airtime
    • Drone Connectivity
    • Data backup and recovery
    • Navigation and monitoring
    • Telemedecine
    • Diffusion
  • By Vertical :
    • Energy and Utilities
    • Government & Defense
      • Government (civil uses)
      • Emergency Responders
      • Defense
    • Transportation & Freight
      • Fleet management
      • Rail services
    • Maritime
    • Mining and Oil & Gas
    • Agriculture
    • Communication companies
    • Companies/Companies
    • Media and broadcast
  • By Region :
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa

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More valuable information

Fact.MR, in its new offering, presents an unbiased analysis of the global satellite communications market, presenting historical analysis from 2016 to 2021 and forecast statistics for the period 2022-2032.

The study reveals critical insights on the basis of components (equipment and services), by application (asset tracking/monitoring, airtime, drone connectivity, data backup and recovery, navigation and surveillance, telemedicine, broadcasting) , vertical (energy and utilities, government and defense, transportation and freight, maritime, mining and oil and gas, agriculture, communications companies, enterprises, media and broadcasting) and region (North America, Latin America, Europe , Asia-Pacific, and Middle East and Africa).

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