Satellite Connectivity Market Size Status and Global Outlook 2020-2027
Posted by BIS RSRCH on January 12th, 2021
The rise in the application of satellites for a range of activities like surveillance, real-time imaging, communication, navigation, weather forecasting, broadband and connectivity, research, development, and testing, and IoT integration for various government, commercial, and civil-military domains is leading to the evolution in the space industry. More than 6,000 satellites are expected to be launched within the forecast timeframe of 2020 to 2027 with rising YoY launch rates. The rise in satellite launches has generated demand for various satellite connectivity components and other peripheral systems, forcing industry players to explore new market verticals to cater to the demand.
The topography of a satellite constellation and frequency multiplexing will also play a significant role in defining the satellite connectivity market prospects. They are primarily four types of topography, namely, star topology, mesh topology, hybrid topology, and point to point topology. The rise in demand for establishing a secure connections for range of military operations require point-to-point network, whereas the requirement of a global telecommunication network will demand mesh topology.
The government space organizations, research and development centers, private players, and educational institutes are focused on developing more efficient integrated connectivity solutions to support the market space. For instance, SpaceX has established a constellation of 653 Starlink satellites that they plan to commercialize by April 2021. Tesat, a European satellite communication organization, is engaged in developing laser communication technologies with minimum uplink and downlink rates of 2Gbps.
Apart from various growth factors, the satellite connectivity market is also experiencing challenges such as increasing space debris and limited in-orbit space to launch new satellites. As of 2019, more than 500,000 pieces of debris are estimated to be present in space, which can cause potential damage to satellites and space vehicles. The aggressive approach by industry players like SpaceX and Amazon to launch 12,000 communication satellites by 2027 and 3,236 satellites over coming years to establish satellite constellations will significantly increase market competitiveness.
North America is expected to dominate the satellite connectivity market with a share of 44.19% in 2027. Its total market was .21 billion in 2019 and is projected to reach .51 billion by 2027, registering a CAGR of 13.49% during the forecast period 2020-2027. The U.S. is expected to be one of the prominent countries in the world, and it witnessed the highest market revenue of $ 13,775.22 million in 2019 and is projected to cross $ 36.53 billion by 2027.
For Sample Report, Click here: https://bisresearch.com/requestsample?id=1040&type=download
The global satellite connectivity market is one of the most competitive industries with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the global satellite connectivity market exhibits an inclination toward emerging strategies and developments by market players.
The key players that are actively participating in the global satellite connectivity market include Thales Group, Indra Group, Echostar, Viasat, General Dynamics, Inmarsat, Cobham, L3Harris Technologies, Honeywell, Israel Aerospace Industries, Norsat, Aselasan, SitaOnAir, Collions Aerospace (UTC), Singtel, Telemar Group, Marlink, Leonardo, CPI, Kratos, SpaceX and Telsat.
The prominent players in the satellite connectivity market adopted strategies of new product launches, mergers and acquisitions, partnerships and collaborations, contracts, and other strategies to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion. Due to the intensive competition, the satellite industry requires manufacturers to constantly innovate and develop cost-effective products. The existing companies as well as new entrants, which aim to develop next-generation satellite connectivity solutions in adherence with the existing and forthcoming industry standards for various end user applications.
