Satellite Communication (SATCOM) Equipment Market worth $41.51 billion by 2029 - Exclusive Report by MarketsandMarkets™

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=159285646

Browse in-depth TOC on "Satellite Communication (SATCOM) Equipment Market" 
320 – Tables
78 – Figures
349 – Pages

Satellite Communication (SATCOM) Equipment Market Report Scope:

Beyond defense, the market serves many civil and commercial sectors, such as telecommunications, broadcasting, maritime, aviation, and emergency services. With the increasing demand for high-speed internet and reliable communication solutions, the integration of software-defined networks and the emergence of LEO satellite constellations transform the SATCOM landscape. Such technologies are supposed to increase bandwidth, reduce latency, and enhance overall service quality.

Satcom and terrestrial networks can be integrated using NTNs, that is, LEO and MEO satellites for backhaul and connectivity to terrestrial infrastructure, for providing access to remote or underprivileged areas where traditional terrestrial infrastructure cannot be deployed economically. Satellite backhaul can further enhance the resilience and redundancy of terrestrial networks. The option of secondary connectivity becomes available in case of a network outage or disaster, through which satellite links can establish connectivity quickly and efficiently when an outage occurs and maintain the operation of critical communications services.

Based on the platform, the airborne SATCOM segment is estimated to account for the fastest growth of the SATCOM EQUIPMENT market from 2024 to 2029.

Based on platform, the airborne SATCOM segment is likely to continue to lead the SATCOM equipment market during 2024-2029 and is expected to grow due to modernization programs undertaken by various countries, which is likely to raise the demand for the 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, Integrated Broadcast Service (IBS) program, initiated by the U.S. Department of Defense (DoD) aims to enhance the capabilities of existing military platforms by integrating advanced SATCOM systems that provide real-time situational awareness and intelligence dissemination. This upgrade focuses on improving the interoperability of airborne assets, allowing for seamless communication across different branches of the military. The program enhances data sharing from various sensors and platforms, enabling operators to receive timely updates and better coordinate joint operations.

Based on verticals, the commercial segment is estimated to account for the fastest growth of the SATCOM EQUIPMENT market from 2024 to 2029.

Commercial segment is expected to lead the SATCOM equipment market in the forecast period from 2023 to 2028, by verticals. This can be ascribed to the increasing need for smooth mobile broadband coverage in rural and far-off regions, large-scale usage of small satellites for business and data communication, improvement in transportation and logistics networks, and increased demand for broadband connections and VSAT connectivity. In July 2021, the DCC responded affirmatively to the sector regulator's request, which paved the way for VSAT operators to extend satellite-based cellular backhaul connectivity to telecom companies. This move ensures that remote and distant mobile broadband areas are not interfered with.

Based on connectivity, the LEO orbit segment is estimated to account for the fastest growth of the SATCOM EQUIPMENT market from 2024 to 2029.

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. SpaceX and Iridium are heavily investing in launching thousands of satellites in LEO orbit over the next few years, opening up manifold opportunities for suppliers of numerous components. SpaceX launched 56 Starlink internet satellites and also successfully achieved rocket landing at sea in May 2023. To date, SpaceX has successfully launched more than 4,300 Starlink spacecraft, with most of those in operation. The Starlink constellation, developed by SpaceX, will enable global broadband coverage. While the firm provides greater speeds and latency compared to the more traditional geostationary satellite systems, this launch is part of an increasing Starlink network that intends to provide dependable and high-speed internet access to its users all over the world.

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 2024 to 2029 in the SATCOM equipment market.

North America is anticipated to dominate the SATCOM equipment industry during the period between 2024 and 2029 by region. SATCOM equipment has an inbuilt opportunity in the lucrative market of the US within North America. The US government is also increasingly investing in the field of SATCOM to improve the quality and effectiveness of satellite communication. It offers efficient and reliable connectivity; hence it is supplementary terrestrial networks. In cases of challenging or economically unviable terrestrial coverage, satellite links and terminals offer adequate connectivity. The US, therefore demands advanced satcom solutions as 5G networks integrate with the existing satcom equipment. Also, the growth of this market is driven by advances in technology in satcom equipment. The satcom equipment manufacturers are continuously in innovation and new introduction for latest technologies to improve performance, efficiency, and reliability. The technological development responsible for driving this adoption into satcom equipment in the US includes high-throughput satellite systems, improved designs for antennas, software-defined solutions, and efficient modulation techniques.

Key Market Players

The SATCOM equipment companies is dominated by a few globally established players such Echostar Corporation (US), L3Harris Technologies, Inc. (US), Thales (France), RTX (US), General Dynamics Corporation (US), Cobham Satcom (Denmark), Honeywell International Inc. (US), Viasat, Inc. (US), Gilat Satellite Networks (Israel), Aselsan A.S (Turkey), Iridium Communication Inc. (US), Intellian Technologies Inc. ( South Korea), ST Engineering (Singapore), SpaceX (US), Elbit Systems Ltd. (Israel), Campbell Scientific, Inc. (US), ND SatCom GmbH ( Germany), 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: 

Satellite Data Services Market by Vertical (Agriculture, Engineering & Infrastructure, Defense & Security, Others), End-Use (Government & Military, Commercial, Service providers), Service (Image Data, Data Analytics), Deployment, and Region - Global Forecast to 2028

Satellite Navigation System Market by Constellation (Global Navigation Satellite (GPS, Galileo, Glonass, BDS) Regional Navigation Satellite (NAVIC, QZSS, BEIDOU), and Augmented Satellite), Orbit (MEO, GEO, Others), Solution, and Region- Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

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.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

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:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/satellite-communication-satcom-equipment-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/satellite-communication-satcom-equipment.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg