Satellite Ground Station Market to Reach $178.94 Billion, Globally, by 2032 at 11.9% CAGR: Allied Market Research
The growth of the global satellite ground station market is driven by rise in demand for military and defense satellite ground station solutions, increase in adoption of satellite ground station equipment in online streaming services, radio, and TV broadcast, increase in Internet of Things (IoT) and autonomous systems.
PORTLAND, Ore., Sept. 6, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Satellite Ground Station Market by Platform (Fixed, Portable, Mobile), Function (Communication, Earth Observation, Space Research, Navigation, Others), Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO)) and End User (Commercial, Government, Defense): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global satellite ground station industry generated $58.70 billion in 2022, and is anticipated to generate $178.94 billion by 2032, witnessing a CAGR of 11.9% from 2023 to 2032.
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Satellite Ground Stations (SGS) are widely used for collecting and streaming remote sensing satellite data to an array of users and applications. Popular satellite ground station systems that have been installed nationally and internationally are Oberon, Capella, and Telesto.
Prime determinants of growth
Factors such as rise in demand for military and defense satellite ground station solutions, increase in adoption of satellite ground station equipment in online streaming services, radio, and TV broadcast, increase in Internet of Things (IoT) and autonomous systems boost the growth of the satellite ground station market. However, cybersecurity threats to satellite ground station and interference in satellite data transmission are anticipated to hinder market growth. On the other hand, technological advancements in satellite missions and deployment of 5G network through satellites provide a remarkable growth opportunity for the market players operating in the market.
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The fixed segment to maintain its leadership status throughout the forecast period
Based on platform, the fixed segment held the highest market share in 2022, accounting for nearly three-fifths of the global satellite ground station market revenue and is estimated to maintain its leadership status throughout the forecast period owning to the modernization and expansion of military communication systems. However, the mobile segment is projected to manifest the highest CAGR of 13.7% from 2023 to 2032, as it provides reliable and secure communication for command & control, intelligence gathering, and tactical operations.
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The communication segment to maintain its leadership status throughout the forecast period
Based on function, the communication segment held the highest market share in 2022, accounting for nearly half of the global satellite ground station market revenue, and is estimated to maintain its leadership status throughout the forecast period, owning to the surge in need for high-speed internet access, especially in underserved or remote areas. However, the navigation segment is projected to manifest the highest CAGR of 13.8% from 2023 to 2032, as navigation ground stations play a critical role in providing reliable positioning data, driving the need for more ground station infrastructure.
The LEO segment to maintain its lead position during the forecast period
Based on orbit, the LEO segment accounted for the largest share in 2022, contributing to nearly three-fourths of the global satellite ground station market revenue, and is estimated to maintain its leadership status throughout the forecast period, as the surge in LEO satellites has resulted from a combination of technological advancements in higher resolution small cameras and greater attitude control along with superior demand for Earth observation, internet connectivity, and voice communications. However, the GEO segment is projected to manifest the highest CAGR of 13.6% from 2023 to 2032, as the GEO satellite ground station is used by government and commercial organizations for communication and advanced military systems.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly half of the global satellite ground station market revenue, and is estimated to maintain its leadership status throughout the forecast period, owning to the rise in demand for satellite ground station system by the U.S. defense department. However, the Asia-Pacific segment is projected to manifest the highest CAGR of 12.9% from 2023 to 2032, owing to an increase in demand for high-speed network connectivity throughout Asia-Pacific.
Leading Market Players: -
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The report provides a detailed analysis of these key players of the global satellite ground station market. These players have adopted different strategies such as partnership, agreement, expansion and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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