Satellite Communication Market Size Worth $ 159.6 Billion By 2030Posted by Neha Bora on September 7th, 2022 San Francisco, 7 Sep 2022: The Report Satellite Communication Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Broadcasting, Airtime), By Vertical, By Region, And Segment Forecasts, 2022 - 2030 The global satellite communication market size is projected to reach USD 159.6 billion in 2030, registering a CAGR of 9.5% from 2022 to 2030, as per a new report by Grand View Research, Inc. The rising proliferation of small satellites for tactical communication, geospace & atmospheric research, and medium resolution imagery in military & defense applications has propelled the growth of the market. The increasing demand for satellite communication (Satcom) solutions from the aviation industry to improve airline operations and air traffic management is anticipated to boost market expansion during the forecast period. It is anticipated that the advent of the 5G network and several scheduled Medium Earth Orbit (MEO) and Low Earth Orbit (LEO) satellite launches would propel the expansion of the Satcom market at a rapid pace. Additionally, the evolution of satellite communication in the connectivity sector has prompted Satcom operators to offer the global deployment of Internet of Things (IoT) solutions. More than 2.7 million devices are currently supported by satellites, including those used for aviation, infrastructure, trade, environmental monitoring, and military support. Satcom providers have changed their business models in recent years to focus on providing high bandwidth satellite transponders with higher transponder throughput and lower prices. An incoming signal is identified and automatically responded to by a satcom transponder, a wireless communication, monitoring, and control device. Factors such as the increase in consumer broadband demand, corporate enterprise network need, and the expansion of Ka-band and Ku-band services are anticipated to drive the growth of the satellite transponder segment. Additionally, the overall demand has significantly increased due to recent space development missions by many space organizations, including China National Space Administration (China) and Indian Space Research Organization (India). Access Research Report of Satellite Communication Market @ https://www.grandviewresearch.com/industry-analysis/satellite-communication-market Satellite Communication Market Report Highlights
List of Key Players in the Satellite Communication Market
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