The global SatCom terminal market is expected to grow at an astounding rate, with a CAGR of 6.7% by 2033. According to a recent FMI estimate, the market’s valuation is expected to exceed US$ 9.53 billion in 2023 and US$ 18.22 billion by 2033.
Rapid technological advancements in recent years have catapulted expenditures in satellite communication. The coronavirus epidemic increased global demand for connectivity, which has been steadily increasing. The advancement of modern satellite ground equipment and satellites is expected to significantly increase demand for SatCom terminals. Rising advancements in space technology are expected to drive the SatCom terminal market forward in the future years.
The increase in manufacturers and their product and technology developments are projected to pave the way for rapid market growth. Furthermore, rising government spending on military and defence communication systems is expected to fuel market growth.
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Weather monitoring, remote sensing, navigation, and other applications make use of SatCom terminals. The increasing use of tiny satellites for such applications is expected to drive market growth in the coming years. The growing application in disaster control and response, geo-mapping, defence, security, and other applications is expected to boost market growth.
The use of Internet of Things-based devices in the aviation and space-tech industries is increasing. Satellites are used by IoT devices for real-time data exchange and transmission. This facilitates smooth and secure communication. The developments in the satellite communication industry are projected to provide the market with lucrative growth prospects. Additionally, rising demand for innovative satellite components is likely to fuel market expansion.
The increasing use of Artificial Intelligence (AI), cloud computing, and data analytics is expected to drive market growth. Because of the high demand for tiny satellites, the rising satellite communication industry and satellite communication components market are expected to drive market growth throughout the projection period.
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.
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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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