August 2024 | Report Format: Electronic (PDF)
The global satellite communication market size is anticipated to reach USD 159.60 billion by 2030 and is anticipated to expand at a CAGR of 10.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising demand for small satellites for tactical communication, geospace and atmospheric research, and medium-resolution imagery in military and defense applications is driving this growth. The growing demand for Satellite Communication (SATCOM) solutions across the aviation industry to improve air traffic management and airline operations is also expected to drive the market.
The advent of the 5G network and several scheduled Medium Earth Orbit (MEO) and Low Earth Orbit (LEO) satellites launches are likely to favor the expansion of the SATCOM market. In addition, the evolution of satcom in the connectivity sector has prompted SATCOM operators to offer solutions that can be integrated with IoT devices to enable seamless data exchange and connectivity. For instance, in July 2022, EchoStar Mobile Limited, a mobile satellite services provider, announced the deployment of its pan-European LoRa-equipped IoT network operating in the S-band spectrum via the EchoStar XXI satellite.
Satcom providers have been shifting their focus on providing high bandwidth satcom transponders with higher throughput and a lower price point. The adoption of satcom transponders has significantly increased owing to the growing demand for high-speed broadband from domestic users as well as corporates, and the expansion of Ka-band and Ku-band services. Moreover, ambitious space development missions by space organizations, including the China National Space Administration and the Indian Space Research Organization, are likely to drive the market over the forecast period.
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Satellite Communication Market Report
Based on component, the services segment dominated the market in 2023. Satcom services are highly used by DTH operators and telecommunication companies, among various other end-users. In addition, these services also find extensive usage in the defense and marine sectors for enabling resilient and reliable communications.
Based on application, the broadcasting segment dominated the market in 2023. The segment is also anticipated to retain its dominance in the overall market over the forecast period. The high share and growth of this segment can be attributed to the increased use of satellite broadcast services, including radio and television, primarily for media applications.
Based on vertical, the media & broadcasting segment accounted for the maximum market share in 2023. The high share of this segment can be attributed to the high use of satellites for providing broadcasting services, even in remote areas.
North America accounted for the largest revenue share of the global market in 2023. The region’s growth can be attributed to the continuous demand for communication and satcom equipment from the government & defense industry, especially agencies such as the U.S. Department of Defense.
In May 2023, Arabsat, an international supplier of broadcasting and telecommunication satellites, effectively sent Arabsat Badr-8 into orbit via a SpaceX Falcon 9 rocket from Cape Canaveral, Florida, USA. Badr-8 is designed to provide cutting-edge services for satellites to clients and collaborators across the Middle East, Africa, Central Asia, and beyond.
Grand View Research has segmented the global satellite communication market based on component, satellite constellations, frequency band, application, vertical, and region:
Satellite Communication Component Outlook (Revenue, USD Million, 2017–2030)
Equipment
Satcom Transmitter/Transponder
Satcom Antenna
Satcom Transceiver
Satcom Receiver
Satcom Receive
Satcom Modem/Router
Others (Block-up converters, controllers)
Services
Satellite Communication Satellite Constellations Outlook (Revenue, USD Million, 2017–2030)
Low Earth Orbit (LEO) Satellites
Medium Earth Orbit (MEO) Satellites
Geostationary Equatorial Orbit (GEO) Satellites
Satellite Communication Frequency Band Outlook (Revenue, USD Million, 2017–2030)
L-band
S-band
C-band
X-band
Ku-band
Ka-band
Satellite Communication Application Outlook (Revenue, USD Million, 2017–2030)
Asset Tracking/Monitoring
Airtime
M2M
Voice
Data
Drones Connectivity
Data Backup and Recovery
Navigation and Monitoring
Tele-medicine
Broadcasting
Others
Satellite Communication Vertical Outlook (Revenue, USD Million, 2017–2030)
Energy & Utility
Government & Defense
Government (Civil Uses)
Emergency Responders
Defense
Transport & Cargo
Fleet Management
Rail services
Maritime
Mining and Oil & Gas
Oil & Gas
Mining
Agriculture
Communication Companies
Corporates/Enterprises
Media & Broadcasting
Events
Aviation
Environmental & Monitoring
Forestry
End User — Consumer
Healthcare
Others
Satellite Communication Regional Outlook (Revenue, USD Million, 2017–2030)
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Asia Pacific
China
India
Japan
South Korea
Latin America
Brazil
Mexico
Middle East & Africa
Kingdom of Saudi Arabia
UAE
South Africa
List of Key Players in the Satellite Communication Market
Viasat, Inc.
SES S.A
Intelsat S.A.
Telesat Corporation
EchoStar Corporation
L3Harris Technologies, Inc
Thuraya Telecommunications Company (Yashat)
SKY Perfect JSAT Holdings Inc.
Gilat Satellite Networks Ltd.
Cobham Limited