TMCnet News
Satellite Communication (SATCOM) Equipment Market worth $38.7 billion by 2028 - Exclusive Report by MarketsandMarkets™CHICAGO, June 6, 2023 /PRNewswire/ -- The SATCOM equipment market is valued at USD 22.6 billion in 2023 and is projected to reach USD 38.7 billion by 2028, at a CAGR of 11.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. The SATCOM equipment market report includes products and services, including antennas, transceivers, power amplifiers, converters, gyro stabilizers, modems & routers, radio, and radomes; these are integrated to get a common operating picture (COP) on the battlefield to counter enemy movement in the most challenging terrain and provide communications to civil/commercial applications like telecommunication & cellular backhaul, media & entertainment, business & enterprise, retail & consumers, aviation, marine vessels, transportation & logistics, and in scientific research & development. Decisions are made from the communication, command, and control centers in the deciding phase for taking strategic decisions.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=159285646 Browse in-depth TOC on "Satellite Communication (SATCOM) Equipment Market" Satellite Communication (SATCOM) Equipment Market Report Scope:
Integrating satellite communication (satcom) with terrestrial networks is an emerging field that aims to combine the advantages of both technologies to provide seamless and reliable connectivity to users across a wide range of industries. One approach to integrating satcom with terrestrial networks is to use non-terrestrial networks (NTNs), such as low-earth orbit (LEO) and medium-earth orbit (MEO) satellites, to provide backhaul and connectivity for terrestrial infrastructure. This can help to extend the reach of terrestrial networks to remote or underserved areas where the deployment of traditional terrestrial infrastructure is not feasible or economical. Satellite backhaul can also help to improve the resiliency and redundancy of terrestrial networks by providing a backup connectivity option in case of network outages or disasters. In such scenarios, satellite links can be used to restore connectivity quickly and efficiently, ensuring that critical communications services remain operational. Based on the platform, the airborne SATCOM segment is estimated to account for the fastest growth of the SATCOM equipment market from 2023 to 2028. Based on the platform, the airborne SATCOM segment is estimated to lead the SATCOM equipment industry from 2023 to 2028. It is projected to grow further due to modernization programs expected to increase the demand for advanced airborne SATCOM in new aircraft. Airborne SATCOM equipment can also be installed in the existing fleet as a part of retrofitting or upgrading activities. For instance, the Single European Sky ATM Research (SESAR) is an airspace modernization program adopted by European countries to improve their air traffic management (ATM). This program involves the installation of innovative SATCOM on-the-move solutions to eliminate inefficiencies associated with European air traffic management. Based on verticals, the commercial segment is estimated to account for the fastest growth of the SATCOM Equipment market from 2023 to 2028. Based on verticals, the commercial segment is expected to lead the SATCOM equipment market from 2023 to 2028. The growing demand for seamless mobile broadband coverage in remote and distant areas, the widespread utilization of small satellites for commercial purposes and data transfer, advancements in transportation and logistics networks, and the increasing need for broadband connections and VSAT connectivity are driving this trend. In July 2021, the Digital Communications Commission (DCC) responded affirmatively to the request of the sector regulator, permitting VSAT operators to offer satellite-based cellular backhaul connectivity to telecommunications companies. This decision aims to guarantee uninterrupted mobile broadband coverage in remote and distant regions. Based on connectivity, the LEO orbit segment is estimated to account for the fastest growth of the SATCOM equipment market from 2023 to 2028. The SATCOM equipment market has been segmented based on connectivity into LEO and MEO/GEO orbit. The LEO orbit segment is estimated to grow at a higher CAGR during the forecast period. Emphasis on the development of SATCOM equipment, coupled with the integration of IoT and 5G technology hardware, is fueling the growth of the SATCOM equipment market. Typically, LEO satellites are used for meteorology and communication applications. Key industry players, such as SpaceX and Iridium, are heavily investing in launching thousands of satellites in LEO orbit in the next few years, which has created an abundance of opportunities for various component suppliers. In May 2023, SpaceX successfully launched 56 Starlink internet satellites and accomplished a rocket landing at sea. With this launch, SpaceX has launched over 4,300 Starlink spacecraft, with the majority currently operational. SpaceX's Starlink constellation aims to provide global broadband coverage. The company offers faster speeds and lower latency than traditional geostationary satellite systems. The latest launch further expands the growing Starlink network, designed to provide users with reliable and high-speed internet access worldwide. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=159285646 The North American market is projected to contribute the most significant share from 2023 to 2028 in the SATCOM equipment market. North America is expected to lead the SATCOM equipment market from 2023 to 2028 based on region. The US is a lucrative market for SATCOM equipment in the North American region. The US government is increasingly investing in the field of SATCOM to enhance the quality and effectiveness of satellite communication. SATCOM equipment, such as high-capacity satellite links and terminals, can complement terrestrial networks by providing efficient and reliable connectivity, especially in areas where terrestrial coverage is challenging or economically unviable. Integrating satcom equipment with 5G networks drives the demand for advanced satcom solutions in the US. Technological advancements in satcom equipment are also propelling the market growth. Manufacturers continually innovate and introduce advanced technologies to enhance performance, efficiency, and reliability. Developments such as high-throughput satellite (HTS) systems, improved antenna designs, software-defined solutions, and efficient modulation techniques are driving the adoption of satcom equipment in the US. The SATCOM equipment companies is dominated by a few globally established players such as EchoStar Corporation (US), L3Harris Technologies (US), Thales Group (France), Raytheon Technologies Corporation (US), General Dynamics Corporation (US), Cobham Satcom (Denmark), among others. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=159285646 Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting Related Reports: Airborne SATCOM Market by Installation Type (New Installation, Upgrade), Application (Government & Defense, Commercial), Platform (Fixed Wing, Rotary Wing, UAVs), Frequency, Component and Region - Global Forecast to 2027 Tactical Data Link Market by Application (Command and Control, ISR, EW, Radio Communication), Platform (Ground, Airborne, Naval, Unmanned Systems, Weapons), Component, Frequency, Data Link Type, Point of Sale, Military Standard, Region - Forecast to 2027 Military Antennas Market by Component (Reflectors, Feed Horn, Feed Networks, Low Noise Block Converter (LNB)), Frequency Band (HF, VHF, UHF SHF, AND EHF), End Use (OEM and Aftermarket), Type, Application, Platform and Region – Global Forecast to 2026 Aircraft Antenna Market by Frequency (VHF&UHF band, Ka/Ku/K band, HF band, X band, C band, L band), Antenna Type, Installation, Application, End User (OEM, Aftermarket), Aircraft Type, & Region (North America, Europe, APAC, RoW) - Global Forecast to 2026 Aircraft Communication System Market by Connectivity (SATCOM, VHF/UHF/L-Band, HF and Data Link), Fit (Line Fit, Retrofit), Platform (Fixed-wing, Rotary-wing, UAVs and eVTOL/eSTOL), Component and Region - Global Forecast to 2027 About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
|
View original content: