Satellite Communication Equipment Industry 2022 World Size, Share, Types, Applications and Forecast to 2028

The evolution of science and technology in the telecommunication sector is expected to adopt and deploy 5G satellite communication solutions in the market.

Considered an update to its preceding 4G satellite solution, 5G is bound to reach new heights with its increased network capacity, higher bandwidth, and high speed, among others.In terms of value, the 5G satellite communication market is expected to value $1.31 billion in 2021 and is projected to reach $16.66 billion by 2030 at a CAGR 28.91% during the forecast period, 2021-2030.

This high growth of the 5G satellite communication market is supported by the increasing demand for higher bandwidth and low latency from a range of distinct end-users such as consumer electronics, aviation, and transportation & logistics where the current communication network technologies and bandwidths are facing a struggle to provide optimum performance.

Moreover, due to the strong demand for a 5G network for various applications, there has been a surge in enhancing the current communication infrastructure, including towers, fiber networks, and small cells, to cater to the technological needs for 5G satellite communication networks.The consumer electronics market size is estimated to be at $397.3 million in 2021 and is projected to reach $5,201.8 million by 2030, registering a CAGR of 29.33% from 2021 to 2030.

As 5G satellite services will deliver high speed and low latency, the consumers are more inclined towards using it for applications entertainment apps and maps for navigation.

Thus, 5G satellite communication caters to it by providing high-speed data at low latency for providing a rich experience.The 5G satellite communication market has witnessed different market dynamics across various regions of the globe.

The global ''satellite communication (SATCOM) industry'' size is predicted to reach USD 41.33 billion by 2026, exhibiting a CAGR of 7.73% during the forecast period.

The growing utilization of small satellites in the defense sector for applications such as,  tactical communication, medium resolution imagery, and geospace & atmospheric research will create sales opportunities for the satellite communication (SATCOM) market share in the forthcoming years, states Fortune Business Insights in a report, titled “Satellite Communication (SATCOM) Market Size, Share & Industry Analysis, By Component (SATCOM Receiver, SATCOM Transmitter/Transponder, SATCOM Transceiver, SATCOM Antenna, SATCOM Modem/Router, and Others), By Technology (SATCOM Vsat, Satcom-On-The-Move (SOTM), Satcom-On-The-Pause (SOTP), SATCOM Telemetry, and SATCOM Automatic Identification System), By Platform (Commercial and Government & Defense), By End Use (Portable SATCOM equipment, Land SATCOM equipment, Maritime SATCOM equipment, and Airborne SATCOM equipment), and Regional Forecast, 2019-2026” the market size stood at USD 22.61 billion in 2018.

According to General Dynamics, just one MUOS satellite can provide four times the capacity of the entire legacy system.

Furthermore, the vice president and general manager for General Dynamics’ space and intelligence systems, Manny Mora, said in a statement, “MUOS will provide our warfighters with the ability to communicate securely, anywhere, anytime, with voice clarity and data transmission speed similar to using a civilian cell phone, this capability delivers a whole new level of connectivity for troops in the field.” In addition, the growing seaborne trade across countries will spur opportunities for the market in the forthcoming years.

Nonetheless, the rising focus on autonomous and connected ships by numerous nations will fuel demand for satellite communication, which, in turn, will aid the market.Regional Analysis:Surge in Telecommunication Industry to Stimulate Growth in Asia PacificThe market in North America stood at 13.11 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the growing military expenditure.

The presence of key manufacturers  such as General Dynamics Corporation, L3 Harris Corporation, Honeywell International, Inc., Hughes Network Systems LLC, and others will aid healthy growth of the market during the forecast period.

Global Maritime Satellite Communication market Outlook (2021-2027)The report on the global Maritime Satellite Communication market gives a comprehensive market survey based on the data form the years 2015 to 2021 and gives a forecast for the markets up to the year 2027.

The market parameters and indicators have been used to study the data collected.

The assessment period of the report extends from 2021 to 2027 with the forecast of the market based on the market trend analysis.Request the Sample Copy Here @ https://www.reportsandmarkets.com/sample-request/global-maritime-satellite-communication-market-4106881?utm_source=manometcurrent_medium=47Key Players Profiles in This Research Report are– Inmarsat PLC., Network Innovation, Nsslglobal, Hughes Network Systems LLC, VT Idirect, Inc., MTN, Iridium Communications, Inc., Speedcast, Royal Imtech N.V., Harris Caprock Communications, Inc., KVH Industries, Inc., Thuraya Telecommunications Company, Navarino, Viasat, and Globecomm Systems Inc.Market SegmentationFor the purpose of the study, the Maritime Satellite Communication market was segmented into type, application, end user, and region.

The segmentation helped to understand how the Maritime Satellite Communication market penetration into the global market can be improved.

Rise in income of the population and growing interest of the people are reasons for the boost in demand in other regions.Market Segment by Regions, regional analysis coversNorth America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia etc.

Though there is an increase in demand for the products and services, limited resource is considered a major threat.

The $732 million contract awarded by Navy can be an exponential factor in boosting the satellite communication (SATCOM) market growth during the forecast period owing to the Navy’s next generation narrowband satellite communications system, providing secure voice, video and data communications to military users all over the globe.According to General Dynamics, just one MUOS satellite can provide four times the capacity of the entire legacy system.

Furthermore, the vice president and general manager for General Dynamics’ space and intelligence systems, Manny Mora, said in a statement, “MUOS will provide our warfighters with the ability to communicate securely, anywhere, anytime, with voice clarity and data transmission speed similar to using a civilian cell phone, this capability delivers a whole new level of connectivity for troops in the field.” In addition, the growing seaborne trade across countries will spur opportunities for the market in the forthcoming years.

Nonetheless, the rising focus on autonomous and connected ships by numerous nations will fuel demand for satellite communication, which, in turn, will aid the market.Get Sample PDF Brochure with Impact of COVID19:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/satellite-communication-satcom-market-102679“Satellite Communication (SATCOM) Market Size, Share & Industry Analysis, By Component (SATCOM Receiver, SATCOM Transmitter/Transponder, SATCOM Transceiver, SATCOM Antenna, SATCOM Modem/Router, and Others), By Technology (SATCOM Vsat, Satcom-On-The-Move (SOTM), Satcom-On-The-Pause (SOTP), SATCOM Telemetry, and SATCOM Automatic Identification System), By Platform (Commercial and Government & Defense), By End Use (Portable SATCOM equipment, Land SATCOM equipment, Maritime SATCOM equipment, and Airborne SATCOM equipment), and Regional Forecast, 2019-2026” the market size stood at USD 22.61 billion in 2018.

Overall, almost every sector is anticipated to be impacted by the pandemic.The Global Satellite Communication (SATCOM) Market Size is predicted to reach USD 41.33 billion by 2026, exhibiting a CAGR of 7.73% during the forecast period.

The growing utilization of small satellites in the defense sector for applications such as,  tactical communication, medium resolution imagery, and geospace & atmospheric research will create sales opportunities for the satellite communication (SATCOM) market share in the forthcoming years.Browse Detailed Summary of Research Report With TOC:https://www.fortunebusinessinsights.com/satellite-communication-satcom-market-102679  An Outline of the Global Landscape:-Analyzing the size of the Global Satellite Communication (SATCOM) Market on the basis of value and volume.Technological Advancement and product developments.Deeply profiling future prospects and historical data base by complete industry research.Worldwide manufacturing analysis and supply chain.Extensive analysis of the market emerging trends and technology assessment.Exhaustive coverage of market drivers, restraints, opportunities, threats, limitations, and prospects.Detailed insights on the upcoming R product launches, sales, revenue, size, share and product consumption in the market.Regional Analysis:Surge in Telecommunication Industry to Stimulate Growth in Asia Pacific The market in North America stood at 13.11 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the growing military expenditure.

The presence of key manufacturers  such as General Dynamics Corporation, L3 Harris Corporation, Honeywell International, Inc., Hughes Network Systems LLC, and others will aid healthy growth of the market during the forecast period.