CHICAGO, July 19, 2022 /PRNewswire/ — VSAT Market (Very Small Aperture Terminal) should go from $7.5 billion in 2022 at $16.4 billion by 2027, at a CAGR of 16.9% from 2022 to 2027 according to a new report from MarketsandMarkets™. The market is driven by various factors, such as the increased use of Ku and Ka band VSATs and the growing need for VSAT systems to enable telemedicine in remote locations are major drivers of the VSAT market.
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VSAT market includes major players Orbit Communication Systems Ltd. (Israel), L3Harris Technologies Inc. (USA), Inmarsat Global Limited (UK), Viasat Inc. (USA) and Gilat Satellite Networks Ltd. (Israel). These players have spread their activities across various countries, including North America, Europe, Asia Pacific, Middle East, Africa and South America. COVID-19 has also impacted their business.
Based on the platform, the terrestrial VSAT segment is expected to dominate the VSAT market share during the forecast period.
Terrestrial VSATs are estimated to have the largest market share by value. The growth of this segment may be the increase in the usage of VSAT system on terrestrial platforms for efficient connectivity, which boosts the terrestrial VSAT segment during the forecast period. VSATs provide high-speed connectivity and broadband solutions on terrestrial and terrestrial platforms. Terrestrial VSAT is further segmented into fixed, portable/manpacks and mobile. Detection, tracking and reporting are some of the basic functions of terrestrial VSAT terminals. These terminals also help detect unexploded ordnance and tunnels. Movement near exterior walls, as well as critical infrastructure and buildings, can also be tracked using a terrestrial VSAT
The broadband/data network segment is estimated to be the largest and fastest growing market
Broadband/data networks are estimated to be the largest and fastest growing segment in the VSAT market. The growth of this segment can be attributed to an increased demand for efficient broadband connectivity. VSAT systems play an important role in broadband data communication services. VSAT provides satellite telecommunications and Internet access to businesses and individuals. VSATs provide control over their networks, otherwise companies must rely on third parties. The most widespread use of VSAT would be the service provided on television sets. Customers pay to have the terminal installed in their homes and subscribe to the network to access it. Strong government broadband initiatives, investments in broadband infrastructure, and advancements in technology are the major factors driving the market. Broadband and data networks are used for: satellite Internet access, digital content distribution, wide area network (WAN) connectivity, video conferencing, distance learning and telephony.
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The VSAT market in the Asia Pacific is expected to grow at the highest CAGR rate over the forecast period
Asia Pacific is expected to be the highest CAGR rate for the VSAT market during the forecast period. The growth of this region is attributed to the demand for advanced VSAT systems in the maritime industry which is driving the market. The demand for always-on connectivity has grown worldwide in recent years, with requirements for narrowband and broadband applications in remote, underserved and mobile locations accounting for a large portion of the market. The massive growth in satellite capacity has driven prices down significantly, making very small aperture terminals (VSATs) a viable solution for many industries and regions for the first time. In 2021, Orbit Communication Systems Ltd. (Israel) received an order from a major Asian Navy for the OceanTRx 4 and OceanTRx 7 satellite communications systems.
Gilat satellite networks (Israel), L3 Harris Technologies (US), Viasat Inc (US), Inmarsat Global Limited (UK) and Orbit Communication System (Israel) are among the major players operating in the VSAT Market report.
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