Satellite Communication Market Statistics - 2027
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- Feb 05, 2021
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Satellite Communication Market Statistics - 2027
The global satellite communication market was valued at $56,016.2 million in 2019, and is projected to reach $99,588.02 million in 2027, registering a CAGR of 9.2%.
Artificial or man-made satellites orbit the Earth or other celestial objects for analyzing and predicting solar system and universe. The satellites are also utilized for communication applications such as television signals, phone calls, positioning technology, military, and others. Satellite communication is achieved through transmission of radio waves from satellite, and capturing & processing of information from antennas and transponders installed at different locations on Earth. The space organizations are increasing satellite launches globally to overcome the maximum distance signal transmission constraint associated with the conventional signal communication system. The satellites relay digital and analog signals for transmitting voice, video, and data across several locations worldwide.
The rise in demand for the satellite communication system by the US defense department is one of the major factors driving for the growth of the satellite communication market in North America. The presence of big satellite communication providers namely EchoStar Corporation, Telesat, and Viasat, Inc. in the region is anticipated to propel the growth of the satellite communication market in North America during the forecast period.
The US is the global technological leader. Presence of a robust framework for manufacturing and designing customized satellite communication systems for several applications such as remote monitoring, intelligence operations, and defense missions increases the domination of the U.S. in the satellite communication market. U.S. government and defense agencies have increased the adoption of satellite communication equipment to strengthen their defense capabilities. For instance, in February 2021, US Air Force inducted new AT-6E Wolverine attack aircraft developed by Beechcraft. The aircraft features a circular antenna on the top of its nose to support satellite communications for enhanced intelligence, surveillance, and reconnaissance (ISR) and light attack missions. Integration of satellite communication technology by defense agencies and cellular industries for augmented information sharing are the factors that fuel the growth of the U.S. satellite communication market.
Moreover, the Chinese and Indian governments have increased satellite launches to increase the satellite communication capability of the region. For instance, in March 2021, China launched Yaogan 31-series satellites through the Long March-4C rocket. The Yaogan satellites will augment the territory monitoring capability of China. The Chinese government has increased satellite launches to provide connectivity solutions across China and worldwide. The Chinese government organizations such as China Aerospace Science and Technology Corporation (CASC) facilitate the deployment of satellite communication technology in the region. For instance, in December 2018, China launched the first satellite of the Hongyan Low Earth Orbit (LEO) communications constellation using the Long March 11 light launch vehicle. The satellite will provide IoT and mobile connectivity within China. Increase in the adoption of satellite communication to provide a wide area coverage network is expected to drive the growth of the satellite communication market in China.
The increase in development of new satellite technologies is anticipated to fuel the growth of the global satellite communication market during the forecast period. For instance, in April 2021, Northrop Grumman announced successful docking of its Mission Extension Vehicle 2 to Intelsat 10-02 a commercial satellite. Mission Extension Vehicle 2 is a robot spacecraft that extends the life of satellites.
The satellite communication market is segmented into application, component, end-use industry, and region. Based on application, the market is segmented into voice communication, broadcasting, and data communication. Based on component, it is further divided into equipment and services. Based on end-use industry, the market is classified into maritime, aerospace & defense, industrial, government, transportation and logistics, and media. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global satellite communication market include Al Yah Satellite Communication Company PJSC (Yahsat), Cobham Ltd, EchoStar Corporation, General Dynamics Corporation, Gilat Satellite Networks Ltd., Inmarsat Global Limited, L3Harris Technologies, Inc., SES S.A., SKY Perfect JSAT Holdings Inc., Telesat Canada, and Viasat, Inc.
Increase in Internet of Things (IoT) and autonomous systems
Robust IoT, Artificial Intelligence (AI), and autonomous technologies are being increasingly implemented throughout several industries namely automobile, defense, and healthcare. These technical tools are employed to increase the efficiency and effectiveness of the new installation or existing infrastructure. For instance, in September 2020, Microsoft announced the development of a healthcare cloud service. The healthcare cloud service is a digital health technology aimed to provide seamless interactions among various IoT devices, sensors, and users. Multiple tech giants have started developing smart technologies to support the growth and adoption of autonomous systems in real-world applications. Moreover, autonomous systems provide extended safety and comfort for their users by analyzing real-time data to facilitate overall user experience. For instance, Samsung Electronics is developing an autonomous driving chip to be installed in vehicles for providing central control and obtain autonomous driving by further exchanging information in real-time through the data centers of Google. Furthermore, smart technologies such as IoT and autonomous systems need extensive and secure network connections for their operation. Satellite communication is being increasingly utilized to provide these systems with the required communication channel. For instance, in March 2021, SpaceX filed for approval from the US Federal Communications Commission (FCC) to enable broadband capabilities in moving autonomous vehicles which will further ensure connectivity in remote areas through SpaceX's satellite system.
An increase in the adoption of the satellite communication system to enhance the potential of IoT and autonomous technologies is anticipated to propel the growth of the global satellite communication market during the forecast period.
Satellite Communication Market
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