The global SatCom terminal market is projected to expand at an astonishing CAGR of 6.7%. In 2023, the market is projected to be worth more than $ 9.53 billion, and by 2033, it will be worth more than US$ 18.22 billion, according to a new FMI projection.
Recent rapid technological developments have accelerated spending on satellite communication. The coronavirus outbreak enhanced the constantly rising need for connectivity worldwide. The need for SatCom terminals is anticipated to rise dramatically as a result of the development of contemporary satellite ground systems and satellites. Future years are anticipated to see the SatCom terminal market develop due to rising advancements in space technology.
It is anticipated that the rise in manufacturers and their innovations in technology and products would lead to a swift expansion of the market. The government’s increasing investment in military and defense communication equipment is also anticipated to drive market expansion.
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SatCom terminals are used in a variety of applications, including weather monitoring and remote sensing. In the upcoming years, market growth is anticipated to be fueled by the growing use of tiny satellites for these types of applications. The expanding use of geomapping, disaster control and response, defense, and other applications is anticipated to promote market expansion.
The application of Internet of Things-based technology is expanding in the aerospace and space technology sectors. IoT devices employ satellites to communicate and transmit data in real time. This makes communication simple and safe. According to projections, the market will have profitable growth opportunities as a result of recent improvements in the satellite communication sector. Additionally, the market is projected to expand due to the growing need for cutting-edge satellite components.
Growth in the market is anticipated to be fueled by the rising use of artificial intelligence (AI), cloud computing, and data analytics. The growing satellite communication industry and satellite communication components market are anticipated to fuel market expansion throughout the projected period due to the high demand for small satellites.
Key Takeaways from the SatCom Terminal Market:
- The United States is predicted for the highest revenue in the North American region. Moreover, the North American region is likely to hold a 30% share of the global SatCom terminal market.
- In the global SatCom terminal market, the very small aperture terminal (VSAT) systems are anticipated to hold the leading share at 80%.
- The global market value is likely to hit US$ 15.6 billion by 2030.
Recent Developments Observed by FMI:
- In January 2022, Ultra launched Ultra GigaSat ULV-950mp Terminal. The grant was approved by Inmarsat, a global pioneer in mobile satellite communications.
- Orbit Communications Systems Ltd., showcased OceanTRx 4MIL maritime SatCom terminal at Euronaval 2022. Orbit Communication Systems Ltd., is a world-renowned provider of airborne and maritime SatCom terminals, mission-critical airborne audio management systems, and tracking ground station solutions.
- SpaceX revealed its plans of launching 200,00 active terminals in space in December 2022, in India. This launch of SatCom terminals is likely to create stiff competition against Amazon’s ingenious SatCom services, and Bharti Global’s OneWeb.
SatCom Terminal Market by Category
By Type, the SatCom Terminal Industry is segmented as:
- C Band
- X Band
- S Band
- Ku Band
- Ka Band
By Application, the SatCom Terminal Industry is segmented as:
- Military Use
- Civil Use
By Region, the Industry of SatCom Terminal is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Table of Content
Executive Summary | SatCom Terminal Market
- 1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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