San Francisco, 03 May 2024: The Report Satellite Communication (SATCOM) Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Broadcasting, Airtime), By Vertical, By Region, And Segment Forecasts, 2023 - 2030

The global satellite communication market size is expected to reach USD 159.60 billion by 2030, growing at a CAGR of 9.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Surge in the demand for satellite broadband services, particularly in remote and underserved areas is a significant factor contributing to the growth of the market. Satellite communication (SATCOM) bridges the connectivity gap, enabling businesses, governments, and communities to access high-speed internet, voice services, and multimedia applications. This trend opens up vast opportunities for satellite communication providers to cater to a wider customer base and expand their market reach.

The growing integration of satellite communication with emerging technologies such as 5G networks and IoT is also contributing to the growth of the market. The convergence of these technologies opens up new avenues for advanced applications, smart city initiatives, and transformative connectivity solutions. Satellite communication acts as a critical enabler, providing wide-area coverage, and connecting remote and challenging environments.

Several satellite communication solution providers are striking partnerships with other satellite communication solution providers to develop advanced systems aimed at delivering better connectivity for end-users. For instance, in November 2022, Viasat, Inc. announced a strategic collaboration with Cobham SATCOM to develop an advanced satellite connectivity system for the energy and maritime industries. The connectivity system was carefully developed to leverage the substantial satellite capacity anticipated from the ViaSat-3 constellation. It incorporated a range of innovative antenna systems from Cobham Satcom, aiming to provide cutting-edge, high-speed connectivity.

The COVID-19 pandemic has moderately impacted the satellite communication industry, leading to significant changes and advancements in the industry. One of the key effects of the pandemic has been the widespread adoption of remote work and telecommuting, which highlighted the importance of reliable and resilient connectivity. Satellite communication played a crucial role in ensuring uninterrupted communication and data transmission for remote workers, enabling them to stay connected regardless of their location.

The growth of the market can be attributed to the growing demand for High-throughput Satellite Systems (HTS), which provide significantly increased capacity and data speeds compared to traditional satellite systems. HTS enables faster and more efficient data transmission, making it ideal for bandwidth-intensive applications such as video streaming, remote sensing, and Internet of Things (IoT) connectivity.

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At the same time, new frequency bands, such as high-frequency and very high-frequency bands, are expanding the available spectrum for satellite communication. These bands offer improved bandwidth and increased capacity, enabling higher data rates and supporting bandwidth-hungry applications.

Several satellite communication solution providers across the globe are focusing on developing solutions to offer better connectivity to a myriad of use cases. For instance, in June 2023, Get SAT, a provider of miniaturized satellite communication terminals, launched its latest product line, MoComm, featuring the innovative Multi Orbit Communication capability. This groundbreaking feature enables smooth and efficient switching between satellite constellations, ensuring uninterrupted connectivity.

Satellite Communication Market Report Highlights

• The services segment dominated the market in 2022 owing to the worldwide expansion of the media and entertainment sectors and the rising popularity of satellite television in emerging economies
• The broadcasting segment dominated the market in 2022. The increasing need for satellite communication in applications such as pay TV and radio has driven the growth of the broadcasting segment
• The government & defense segment is projected to grow at the highest CAGR over the forecast period. The growth of this segment is being fueled by a growing focus on secure and resilient satellite communication solutions, which are essential to meet the evolving requirements of government agencies and defense organizations
• North America dominated the market in 2022 owing to the increasing demand for satellite broadband services, particularly in remote and inaccessible areas

MoComm operates seamlessly in both Ku and Ka-bands. The Ka-band functionality empowers users to seamlessly transfer data traffic between O3B Medium Earth Orbit (MEO) and any Geostationary Orbit (GEO) constellation. Additionally, the Ku-band has received certification for compatibility with LEO and any GEO constellation, further expanding its versatility and applicability.

Increasing use of satellite communications in the government & defense sector is also contributing to the growth of the market. Government sectors are actively transforming their operational environments, leading to an increasing dependence on sensor data and ISR platforms. These platforms facilitate the sharing of real-time HD video and other valuable information obtained from Remotely Piloted Air Systems (RPAS) or Unmanned Aerial Vehicles (UAVs). Consequently, the demand for HTS capacity continues to escalate for government and military applications. In addition, notable satellite communication service providers like Viasat, Inc. and SES S.A. are making significant investments to pioneer novel solutions tailored to various government and defense applications.

The increasing deployment of satellite constellations dedicated to IoT connectivity is also contributing to the growth of the market. These constellations consist of several small satellites working together to provide global coverage for IoT devices, enabling seamless communication and data exchange across vast geographic areas. This trend is driven by the growing demand for IoT applications in agriculture, logistics, environmental monitoring, and asset tracking sectors, where ubiquitous connectivity is essential.

Satellite Communication (SATCOM) Market Report Scope

Another emerging trend is the development of Low Earth Orbit (LEO) satellite networks specifically designed for IoT applications. LEO satellites offer advantages such as lower latency, improved signal strength, and higher data throughput, making them well-suited for IoT data transmission. These networks leverage advanced technologies like narrowband and low-power communication protocols to optimize IoT device connectivity, ensuring efficient utilization of satellite resources.

Furthermore, the satellite communication market is witnessing the adoption of advanced technologies like Artificial Intelligence (AI), which are driving the emergence of intelligent transport systems (ITS). These systems enable real-time vehicle tracking, facilitating the swift exchange of information for both users and freight operators. Satcom integration in transportation ensures continuous and seamless data transmission between vehicles and transport hubs, eliminating the reliance on terrestrial networks. As a result, the utilization of satellites in the transport and logistics network presents promising growth prospects for the satellite communication industry.

List of Key Players in Satellite Communication (SATCOM) Market

• Viasat, Inc.
• SES S.A.
• Intelsat
• Telesat
• EchoStar Corporation
• L3Harris Technologies, Inc.
• Thuraya Telecommunications Company
• SKY Perfect JSAT Group
• Gilat Satellite Networks.
• Cobham Limited