New York, April 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Satellite Communication (SATCOM) Equipment Global Market Report 2023" - https://www.reportlinker.com/p06443922/?utm_source=GNW
, EchoStar Corporation, Honeywell International Inc., Hughes Network Systems LLC, Boeing Company, General Dynamics Mission Systems Inc., Iridium Communications Inc., ASELSAN A.S., Intellian Technologies Inc., Campbell Scientific Inc., and ST Engineering iDirect Inc.,
The global satellite communication (satcom) equipment market grew from $34.4 billion in 2022 to $39.43 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The satellite communication (satcom) equipment market is expected to grow to $67.68 billion in 2027 at a CAGR of 14.5%.
The satellite communication (SATCOM) equipment market consists of sales of satcom moderns, satcom receivers, block upconverters (BUC), low-noise block converters (LNB), equalizers, frequency converters, splitters, and switchover units.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The satellite communication (SATCOM) equipment refer to electronic devices including the mounting style, product type, and connector type or interface enabling communication with satellites in earth’s orbit or space.Satellite communication is mostly used for traditional point-to-point communications, mobile applications, and the distribution of TV and radio programs.
Information is transported from one location to another through satellite communication, which involves a communication satellite orbiting the Earth. It is used for the transmission, conditioning, and reception of satellite signals in worldwide telecommunications.
North America was the largest region in the satellite communication (SATCOM) equipment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the satellite communication (SATCOM) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of satellites in satellite communication (SATCOM) equipment are large satellites (> 2500 kg), medium satellites (501–2500 kg), small satellites (1–500 kg), and cubesats (0.27–27 cubic units of 103 cm). The large satellites are used to send television signals directly to homes. The large satellite is the backbone of cable and network TV. These satellites send signals from a central station that generates programming to smaller stations that send the signals locally via cables or the airwaves. The different components include amplifiers, transceivers, space antennas, transponders, and others that are used in navigation, scientific research, communication, remote sensing, and other applications. The several end-users include commercial, government, and military.
The increasing number of mobile satellite services and small satellites is driving the growth of the satellite communication (SATCOM) equipment market.Mobile satellite services (MSS) offer two-way voice and data communications to people all over the world who are traveling or residing in remote areas.
Widespread adoption of small satellites and mobile satellites is increasing as it gives the entire program crucial flexibility for earth science research missions.With the help of satellite communication equipment, small satellites help scientists advance scientific and human exploration, reduce the cost of new space missions, and expand access to space.
For instance, in 2021, according to the National Aeronautics and Space Administration (NASA), a US-based government agency, around 1,282 spacecraft were launched, approximately 94% of spacecraft were small satellites that had an overall mass of less than 600 kg, and 9% of total spacecraft were nanosatellites, which had an overall mass of less than 200 kg.Additionally, in 2020, small satellite deployment increased by 30%, and these satellites are primarily used for commercial, private, government, and academic institutes.
Therefore, the increasing number of mobile satellite services and small satellites is driving the demand for the satellite communication (SATCOM) equipment market.
Product innovations are the key trend gaining popularity in the satellite communication equipment market.Major companies operating in the satellite communication equipment sector are focused on developing new product innovations and solutions to strengthen their position.
For instance, in June 2020, Honeywell International Inc., a US-based company operating in satellite communication primarily in aerospace, launched its smallest and lightest satellite known as the Honeywell Small UAV SATCOM system, a miniature of a large satellite communication system for communication on land and in air. Honeywell’s Small UAV SATCOM system can be installed anywhere in the vehicle for a wide range of coverage of the platform, to reduce unnecessary bulk and to provide safety. Moreover, it can connect unnamed vehicles even in remote areas or over water where other ground-based communications systems, such as 4G, are not available.
In January 2020, Comtech Telecommunications Corp, a US-based company engaged in satellite ground station technologies and public safety and location technologies, acquired Gilat Satellite Networks for $ 532.5 million. With this acquisition, Comtech Telecommunications strengthens its position as a leading supplier of advanced communication solutions, uniquely capable of servicing the expanding need for ground infrastructure to support both existing and emerging satellite networks. Gilat Satellite Networks is an Israel-based company engaged in the development of satellite communication equipment.
The countries covered in the satellite communication (SATCOM) equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The satellite communication (SATCOM) equipment market research report is one of a series of new reports that provides satellite communication (SATCOM) equipment market statistics, including satellite communication (SATCOM) equipment industry global market size, regional shares, competitors with a satellite communication (SATCOM) equipment market share, detailed satellite communication (SATCOM) equipment market segments, market trends and opportunities, and any further data you may need to thrive in the satellite communication (SATCOM) equipment industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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