New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Satellite Communication Global Market Report 2022" - https://www.reportlinker.com/p06323472/?utm_source=GNW
, General Dynamics Corporation, Honeywell International Inc., Indra Sistemas S.A., and Qualcomm Technologies Inc.
The global satellite communication market is expected to grow from $47.86 billion in 2021 to $54.34 billion in 2022 at a compound annual growth rate (CAGR) of 13.5%. The satellite communication market is expected to grow to $80.83 billion in 2026 at a CAGR of 10.4%.
The satellite communication market consists of sales of satellite communication technologies by entities (organizations, sole traders, and partnerships) that are used to provide communication services over widely dispersed locations.Satellite communications refer to a system that uses satellite technology to transport information from one place to another through a communication satellite placed in the Earth’s orbit.
The signal is transmitted through a transponder between the transmitter and the receiver.
The main components of satellite communication are the transponder, transceiver, antenna, receiver, and other components.The transponder transmits the signal between the transmitter and the receiver.
Satellite communication uses various technologies such as SATCOM automatic identification system, SATCOM VSAT, SATCOM on-the-move (SOTM), SATCOM on the pause (SOTP), and SATCOM telemetry that are used for asset tracking and monitoring, airtime, data backup and recovery, navigation and monitoring, broadcasting, and other applications. It is employed in government and military applications, civil satellite communications, commercial applications, and other verticals.
North America was the largest region in the satellite communication market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the satellite communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The satellite communication market research report is one of a series of new reports that provides satellite communication market statistics, including satellite communication industry global market size, regional shares, competitors with a satellite communication market share, detailed satellite communication market segments, market trends and opportunities, and any further data you may need to thrive in the satellite communication industry. This satellite communication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing deployment of small satellites is expected to propel the growth of the satellite communication market going forward.Small satellites are miniature satellites used in advanced space operations.
Small satellites are more beneficial for satellite communication as they reduce the cost of space operations, expand access to space and gather scientific data.For instance, in 2020, 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. Therefore, the increasing deployment of small satellites drove the satellite communication market.
Product innovations have emerged as the key trend gaining popularity in the satellite communication market.Major companies operating in the satellite communication sector are focused on developing innovative products to strengthen their position.
For instance, in June 2020, Honeywell International Inc., a US-based technology company, launched its smallest and lightest satellite communications technology known as the Honeywell small UAV SATCOM system, a miniature of a large satellite communication system for unmanned vehicles. 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 are not available.
In November 2021, Viasat Inc., a US-based communications company, acquired Inmarsat for an amount of $7.3 billion. Through this acquisition, Viasat Inc. aims to strengthen its product portfolio of fixed and mobile satellite communication services, which will also include broadband, narrowband services, and IoT services. Inmarsat is a UK-based satellite communications company.
The countries covered in the satellite communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06323472/?utm_source=GNW
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