Airborne SATCOM Market - Global Revenue Growth Expectations 2022 - 2027
Posted by Sandeep Roy on September 19th, 2022
According to a research report "Airborne SATCOM Market by Installation Type ( New Installation, Upgrade), Application (Government & Defense, Commercial), Platform (Fixed Wing, Rotary Wing, UAVs), Frequency, Component and Region - Global Forecast to 2027" published by MarketsandMarkets, the airborne SATCOM market size is projected to grow from USD 5.4 billion in 2022 to USD 7.3 billion by 2027, at a CAGR of 6.5% from 2022 to 2027. The growth of the market is attributed to increased need for customized SATCOM on the move solutions, increased adoption of SATCOM transceivers and increased number of aircraft fleet deliveries.
“The UAV segment is projected to lead the airborne SATCOM market during the forecast period.”
Based on Platform, the UAVs segment is expected to lead the market from 2022 to 2027. Due to extensive use of UAVs to conduct intelligence, surveillance and reconnaissance (ISR) missions the UAV segment of airborne SATCOM is expected to grow.
“The New installation segment is accounted to lead the airborne SATCOM market during the forecast period.”
The new installation segment is expected to grow from USD 3,090 in 2022 to 4,697 in 2027 at a CAGR of 8.7%. The adoption of cutting-edge airborne SATCOM systems for both commercial and military purposes and rising demand for new aircraft are responsible for the new installation segment’s growth.
“North America is accounted to have the largest share during the forecasted period.”
The airborne SATCOM market in North America is projected to have largest share during the forecast period. US and Canada are the countries considered under north American region. The growth of this segment is due to the huge presence of leading players of airborne SATCOM in this region.
Key Market Players
Players such as Thales Group (France), General Dynamics Corporation (US), Collins Aerospace (US), Gilat Satellite Networks (Israel) and Raytheon Intelligence and Space (US). The report covers various industry trends and new technological innovations in the Airborne SATCOM market for the period, 2018-2027.
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About the AuthorSandeep Roy
Joined: August 7th, 2019
Articles Posted: 288
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