Dublin, May 24, 2021 (GLOBE NEWSWIRE) -- The "Sky-based Communication Market - A Global and Regional Analysis: Focus on Platform, Component, Application, End User, and Country Analysis Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The global sky-based communication market analysis projects the market to grow at a significant CAGR of 25.53% on the basis of value during the forecast period from 2021 to 2031.

North America is expected to dominate the market in 2021 with a share of 38.87%. The North America region includes the U.S. and Canada. The U.S. is expected to acquire a major share in 2021. The growing space and military programs due to a spike in demand for exploring as well as commercialization of sky-based communication systems in the U.S. are going to raise the demand in the market.

The technological development and feasibility of sky-based communication have been significant in the past few years. There are several factors that are contributing to the significant growth of the sky-based communication market. Some of these factors include the increasing number of satellite launches for communication, adoption of new technologies like IoT and AI in satellite communication, and competitive advantage of HAPS over conventional satellite and terrestrial-based systems, among others.

Key Questions Answered in this Report:

• What are the underlying structures resulting in the emerging trends within the global sky-based communication market?
• What is the scope in the market for new OEMs and other players to enter?
• What are the driving and challenging factors and attributing to the growth of the global sky-based communication market?
• Which platform is expected to be leading the global sky-based communication market by 2031?
• What was the market value of the regions in the global sky-based communication market in 2020, and how is the market estimated to grow during the forecast period 2021-2031?
• How is the industry expected to evolve during the forecast period 2021-2031?
• What are the key developmental strategies that are implemented by the key players to sustain the competitive market?

The global sky-based communication market research provides detailed market information for segmentation such as application, end user, platform, component, and region. The purpose of this market analysis is to examine the global sky-based communication market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.

The report further takes into consideration the market dynamics and the competitive landscape, along with the detailed financial and product contribution of the key players operating in the market.

While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the application and end users. The report also analyzes different platforms that include satellites, UAVs, and HAPS and components. Furthermore, the study provides cross-segmentation for application.

The global sky-based communication market is segregated by region under four major regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World. Data for each of these regions (by country) has been provided in the market study.

Market Dynamics

Drivers

• Increasing Number of Satellite Launches for Communication
• Adoption of New Technologies such as IoT and AI in Satellite Communication
• Competitive Advantage of HAPS Over Conventional Satellite and Terrestrial-Based Systems

Challenges

• Stringent Regulatory Environment for Drones in Different Regions
• Slow Data Transfer Speed from Satellites
• Design and Power Limitation in the HAPS

Opportunities

• Focus of Space Companies on Reducing Launch Services Cost
• Enabling Long-Range BVLOS Drones Operations Cost-Effectively
• Connectivity Requirements in Rural Areas and Developing Countries

Companies Mentioned

• AeroVironment, Inc.
• Airbus
• Cobham Limited
• General Dynamics Corporation
• Honeywell International Inc.
• Hughes Network Systems, LLC
• Intelsat
• Iridium Communications Inc.
• Lockheed Martin Corporation
• OneWeb
• Satcom Global
• SES S.A.
• SKY Perfect JSAT Corporation
• Space Exploration Technologies Corp. (SpaceX)
• Thales Group
• World View Inc.
• Zero 2 Infinity

For more information about this report visit https://www.researchandmarkets.com/r/nezs3h