Satellite Communication (SATCOM) Market Forecast
The Global SATCOM Market is projected to be valued at USD 41,860 Million by 2025, expanding at a CAGR of 8.40% between 2019 and 2025. The growing adoption of SATCOM equipment in telecommunication, space exploration, and telemetry has significantly contributed to the growth of the SATCOM market. High competition owing to the presence of a large number of players in this market is forcing manufacturers to continuously focus on product innovation and development. Furthermore, increasing adoption of autonomous and connected vehicles is also expected to drive the growth of the market.
Satellite Communication (SATCOM) Market USP
The growing demand for SATCOM solutions in the aviation industry is expected to drive the growth of the market.
Growth Opportunities in the Satellite Communication (SATCOM) Market
Satcom antenna segment is expected to witness the highest growth rate in the market: The Satcom antenna segment is expected to grow at the highest CAGR during the forecast period from 2019 to 2025. The growth can be attributed to the benefits offered by Satcom antennas such as corrosion resistance and sturdiness.
Commercial vertical is expected to witness a higher growth in the market: The commercial vertical is expected to grow at a higher CAGR during the review period owing to the growing demand for satellite TV and the rising demand for SATCOM equipment by the space and telecommunication industries.
SATCOM Automatic Identification System (AIS) segment is expected to register the highest growth in the market: The SATCOM AIS segment is expected to grow at the highest CAGR during the review period. Enhanced identification, location information, and collision avoidance offered by the technology marine vessel operators are driving the growth of the segment.
Maritime SATCOM Equipment segment is expected to grow at the highest CAGR: The segment is expected to grow at the highest CAGR during the forecast period from 2019 to 2025. The segment includes commercial ships, military ships, and unmanned maritime vehicles. The rising concept of autonomous and connected ships and rising seaborne trade across the globe are driving the growth of the segment.
Satellite Communication (SATCOM) Market Key Players
Inmarsat plc (UK)
Honeywell International, Inc. (US)
L3 Harris Technologies, Inc. (US)
Indra Sistemas, S.A. (Spain)
General Dynamics Corporation (US)
Cobham plc (UK)
Viasat, Inc. (US)
Iridium Communications Inc. (US)
Qualcomm Technologies, Inc. (US)
GILAT SATELLITE NETWORKS (Israel)
Other Prominent Players
ASELSAN A.Ş. (Turkey)
INTELLIAN TECHNOLOGIES, INC. (South Korea)
Hughes Network Systems LLC (US)
ST Engineering Group (Singapore)
Satellite Communication (SATCOM) Market Research Report - Global Forecast till 2025 @ https://www.marketresearchfuture.com/reports/satellite-communication-market-8466