Satellite Communication Systems Market to Reach $61.5 Billion Globally by 2031 at 9.5% CAGR: Allied Market Research

Satellite communication systems have gained popularity in recent years due to their ability to provide communication services to remote and underserved areas. Additionally, the growing demand for global connectivity and the increasing adoption of Internet of Things (IoT) devices have also contributed to the increased use of satellite communication systems.

PORTLAND, Ore., February 2, 2023 /PRNewswire/ — Allied Market Research released a report titled Market of satellite communication systems by Satellite Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO) and Geostationary Orbit (GEO)), Component (Equipment & Services) and End User (Marine, Aerospace & Defence, Industrial, Government, Transport & Logistics, Media and others): Global Industry Opportunity Analysis and Forecast, 2022-2031.” According to the report, the global satellite communication systems market is valued at $25.8 billion in 2021 and is expected to reach $61.5 billion to 2031, registering a CAGR of 9.5% from 2022 to 2031. The report offers detailed analysis of changing market trends, leading segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Constraints and Opportunities-

Increase in Internet of Things (IoT) and autonomous systems, increasing demand for military and defense satellite communication solutions, and increasing adoption of satellite communication system in online streaming services, radio and television broadcasting across the globe are driving the growth of global satellite communication market systems. On the other hand, interference in satellite data transmission limits growth to some extent. However, high technological advancements in satellite missions have paved the way for lucrative opportunities in the industry.

Covid-19 scenario –

  • Satellite systems have also been used to support distance learning, allowing students and teachers to continue their education despite school closures. This is especially important in rural and remote areas with limited internet connectivity.

  • Satellite communications systems have been used to aid coordination in emergency response, allowing public safety officials and other first responders to communicate and share information effectively in the midst of a crisis.

The Mean Earth Orbit (MEO) segment will retain its dominance during the forecast period-

By satellite orbit, the Mean Earth Orbit (MEO) segment garnered the highest share during the forecast period. Medium Earth Orbit (MEO) satellites orbit at an altitude of about 8,000 to 12,000 kilometers, which is higher than Low Earth Orbit (LEO) satellites but lower than Geostationary Earth Orbit (GEO) satellites. This orbital altitude provides a balance between coverage and capacity, making it well suited for a wide range of applications, including telecommunications, navigation and earth observation. Mean Earth Orbit (MEO) satellites have a relatively short signal delay, which is important for applications such as mobile communications and satellite navigation systems. They also have a large field of view, which is useful for earth observation and remote sensing applications.

The services segment will retain its dominance during the forecast period-

The services segment is reported by components highest market income in 2021 and is projected to retain the lion’s share till 2031. The services segment includes a wide range of activities such as satellite communication, navigation and remote sensing services that are critical to a wide range of industries and applications. These services are essential for industries such as telecommunications, transportation, and agriculture, among others. Rising demand for high-speed internet and streaming services is expected to drive growth in the services segment.

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The media and government segment will maintain its dominance during the forecast period.

In terms of end users, the media and government segment reported the highest market revenue in 2021 and is expected to retain its position until 2031. The media and government segment includes a wide range of activities such as satellite broadcasting, surveillance, and remote sensing services , which are critical for a wide range of applications. These services are essential to industries such as television and radio broadcasting, defense and intelligence. Growing demand for high-definition television and streaming services is expected to drive growth in the media and government segments.

Europe collected the largest share in 2021-

By region, Europe contributed the highest share in 2021. Increasing collaboration between the civil, defense and aerospace industries in the European region will drive the growth of the satellite communication systems market. The rise in demand for high-speed Internet in Europe it also increases the adoption of satellite communication services. Asia-Pacific region, on the other hand, will post the fastest CAGR of 10.97% during the forecast period. This is due to the increase in the use of satellite communication systems in Asia-Pacific region regional market during the forecast period is driven by the growing use of satellite dishes in the communications, IT, aerospace, and automotive industries.

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Leading players in the market –

  • Advantech Wireless Technologies Inc. (Baylin Technologies)

  • Al Yah Satellite Communications Company PJSC (Yahsat)

  • Gilat Satellite Networks

  • Inmarsat Communications

  • Iridium Communications Inc.

  • KVH Industries, Inc.

  • L3Harris Technologies Inc.

  • Orbcomm Inc.

  • Thales Group

  • ViaSat Inc

The report analyzes these key players in the global Satellite Communication Systems market. These players have adopted various strategies such as product launch, acquisition, innovation, partnership and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments and product portfolio of each market player.

Key benefits for stakeholders:

  • This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of the Satellite Communication Systems market analysis from 2021 to 2031 to identify prevailing market opportunities for Satellite Communication Systems.

  • The market study is offered along with information related to key drivers, restraints, and opportunities.

  • Porter’s five forces analysis highlights the potential of buyers and suppliers to empower stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

  • An in-depth analysis of the Satellite Communication System market outlook helps to identify prevailing market opportunities.

  • The major countries in each region are mapped according to their revenue contribution to the global market.

  • The positioning of the players in the market facilitates benchmarking and provides a clear understanding of the current position of the players in the market.

  • The report includes analysis of regional and global Satellite Communication Systems market trends, key players, market segments, application areas, and market growth strategies.

Satellite communication system Key market segments:

Component

Satellite orbit

End user

By region

  • North America (US, Canada, Mexico)

  • Europe (UK, Germany, France, SpainThe rest Europe)

  • Asia-Pacific region (China, Japan, India, South KoreaThe rest Asia-Pacific region)

  • LAMEA (Latin America, Middle East, Africa)

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