Satellite Communication (SATCOM) Equipment Market worth $53.7 billion by 2026, at a CAGR of 19.6%

September 09 16:45 2021
Satellite Communication (SATCOM) Equipment Market worth $53.7 billion by 2026, at a CAGR of 19.6%
Satellite Communication (SATCOM) Equipment Market
[304 Pages Report] The SATCOM equipment market is projected to grow from USD 22.0 billion in 2021 to USD 53.7 billion by 2026, at a CAGR of 19.6%.

The report Satellite Communication (SATCOM) Equipment Market by Solution (Products and Services), Platform (Portable, Land Mobile, Land Fixed, Airborne, Maritime), Technology (SOTM/COTM, SOTP), Vertical, Connectivity, Frequency, and Region – Forecast to 2026″, is projected to grow from USD 22.0 billion in 2021 to USD 53.7 billion by 2026, at a CAGR of 19.6% from 2021 to 2026. The SATCOM equipment market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. The deployment of low earth orbit (LEO) satellites and constellations of satellites for communications applications has increased their demand across the globe. Other factors driving the market growth include growing demand for Ku- and Ka-band satellites, and the growing fleet of autonomous and connected vehicles used for various applications in the military and commercial sectors, which require customized SATCOM-on-the-move antennas.

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Browse 362 market data Tables and 54 Figures spread through 304 Pages and in-depth TOC on “Satellite Communication (SATCOM) Equipment Market by Frequency, and Region – Forecast to 2026”View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/satellite-communication-satcom-equipment-market-159285646.htmlSatellite Communication (SATCOM) Equipment Market

Growing investments by several governments particularly in developed and developing economies such as the US, India, and China, among others. COVID-19 has affected the SATCOM equipment market growth to some extent, and this varies from country to country. Industry experts believe that the pandemic has not affected the demand for SATCOM equipment.

Based on platform, airborne SATCOM segment is estimated to account for the fastest growth of the SATCOM EQUIPMENT market from 2021 to 2026.

Based on platform, airborne SATCOM segment is estimated to lead the SATCOM equipment market from 2021 to 2026 and is projected to grow further due to the increasing need for high-definition intelligence, surveillance, and reconnaissance (ISR) videos, and increasing number of connected commercial aircraft, rising adoption of UAVs and rising number of private aviation companies worldwide supporting market growth. In December 2019, The French Airforce have enhanced their Airborne Satellite communication capabilities by adopting new Thales technologies. The French Defense agency awarded a contract to Thales to design and built the next-generation Syracuse 4 satellite communication system. This contract enables French defense forces to improvise the SATCOM system in the Charles De Gaulle Aircraft Carrier and the Rafale combat aircraft.

Based on solution, product segment of the SATCOM EQUIPMENT market by solution type is projected to witness the largest share in 2021.

Based on solution, the market for product is expected to lead the SATCOM equipment market from 2021 to 2026.  This is due to increasing demand of phased-array antenna systems in airborne and maritime platforms, high-speed data communication in aircrafts, need for high-bandwidth data in harsh and isolated environments and weather-proof enclosures that protect SATCOM antennas. In February 2021, Comtech Telecommunications Corp. received a contract from NASA’s Glenn Research Center for a Ka-/S-band antenna system and radome to be installed at its new Aerospace Communications Facility in Cleveland, OH, supporting high-bandwidth space and aeronautics communications research. In January 2021, Thales secured its third delivery order to provide the US Army with the AN/PRC-148D improved multiband inter/intra team radios (IMBITR). The number of IMBITR radio orders were more than 6,000.

Based on verticals, commercial segment is estimated to account for the fastest growth of the SATCOM EQUIPMENT market from 2021 to 2026.

Based on verticals, commercial segment is expected to lead the SATCOM equipment market from 2021 to 2026. This is due to increasing need for uninterrupted mobile broadband coverage in remote and far-flung regions, streaming information and entertainment, extensive use of small satellites for commercialization and data transferability, technological advancements in transport and logistics network, and increasing demand for broadband connections and VSAT connectivity. In July 2021, the Digital Communications Commission (DCC) accepted the sector regulator’s call to allow VSAT operators to provide satellite-based cellular backhaul connectivity to telcos to ensure uninterrupted mobile broadband coverage in remote and far-flung regions.

The North American market is projected to contribute the largest share from 2021 to 2026 in the SATCOM equipment market

Based on region, North America is expected to lead the SATCOM equipment market from 2021 to 2026. The US is a lucrative market for SATCOM equipment in the North American region. The US government is increasingly investing in the field of SATCOM to enhance the quality and effectiveness of satellite communication. The increasing investment on SATCOM equipment to enhance defense and surveillance capabilities of the armed forces, modernization of existing communication in military platforms, critical infrastructure and law enforcement agencies are increasingly using SATCOM equipment are key factors expected to drive the SATCOM equipment market in North America. In August 2020, The US Special Operations Command (USSOCOM) awarded Cubic Mission Solutions (CMS) a follow-on, single-award, indefinite-delivery/indefinite-quantity (ID/IQ) contract with a ceiling of USD 172 million. The contract is for the delivery of Ground Area Transmit Receive (GATR) inflatable SATCOM terminals and baseband communications equipment in support of the communications requirements of Special Operations Forces (SOF).

Contracts were the main strategy adopted by leading players to sustain their position in the SATCOM equipment market, followed by new product developments with advanced technologies. Many companies also collaborated to set up special centers for the research & development of advanced SATCOM equipment.

The SATCOM equipment market is dominated by a few globally established players such as Thales Group (France), L3Harris Technologies (US), Honeywell International Inc. (US), Hughes Network Systems (US), Viasat, Inc. (US), among others.

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