VSAT (Very Small Aperture Terminal) Market worth $16.4 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 19, 2022 /PRNewswire/ -- VSAT (Very Small Aperture Terminal) Market is projected to grow from USD 7.5 billion in 2022 to USD 16.4 billion by 2027, at a CAGR of 16.9% from 2022 to 2027 according to a new report by MarketsandMarkets™. The market is driven by various factors, such as Increased use of Ku- and Ka-band VSATs, and rising need for VSAT systems to enable telemedicine in remote locations are the major drivers of VSAT market.
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The VSAT market include major players Orbit Communication Systems Ltd. (Israel), L3Harris Technologies Inc. (US), Inmarsat Global Limited (UK), Viasat Inc. (US), and Gilat Satellite Networks Ltd. (Israel). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa and South America. COVID-19 has impacted their businesses as well.
Based on the platform, the Land VSAT segment is expected to lead the VSAT market share during the forecast period.
The Land VSAT are estimated to have the largest market share by value. Growth of this segment can be increasing use of VSAT system on land-based platforms for effective connectivity is driving the land VSAT segment during the forecast period. VSATs provide high-speed connectivity and broadband solutions on land and land-based platforms. Land VSAT is further segmented into fixed, portable/manpacks, and mobile. Detecting, tracking, and reporting are a few basic functions of land-based VSAT terminals. These terminals also help in detecting unexploded ordinances and tunnels. Movement near exterior walls, as well as critical infrastructures and buildings, can also be traced using land-based VSAT
Broadband/data networks segment is estimated to be the largest and fastest growing market
Broadband/data networks is estimated to be the largest and fastest growing segment in the VSAT market. The growth of this segment can be attributed to increased demand for efficient broadband connectivity. VSAT systems play an important role in broadband data communications services. VSAT provides satellite-based telecommunication and internet acess to companies and individuals. VSATs enable control over their networks, otherwise, businesses have to rely on third parties. The most widespread use of VSAT would be the service provided on televisions. Customers pay to have the terminal installed at their homes and subscribe to the network to gain access. Strong government broadband initiatives, investments in broadband infrastructure, and technological advances are the major factors driving the market. The broadband and data networks are used for: Internet access over satellite, digital content distribution, wide area network (WAN) connectivity, video teleconferencing, distance learning, and telephony.
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The market for VSAT in the Asia Pacific is projected to grow at the highest CAGR rate during the forecast period
Asia Pacific is projected to be the highest CAGR rate for VSAT market during the forecast period. The growth of this region is attributed to the demand for advanced VSAT systems in maritime industry is driving the market. The demand for always-on connectivity has expanded across the globe in recent years, with requirements for narrowband and broadband applications in remote, underserved, and mobile locations comprising a large proportion of the market. The massive growth in satellite capacity has resulted in a significant price drop, 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 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 some of the leading players operating in the VSAT market report.
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