The satellite communication market is expected to experience substantial growth by 2023. Economic policies, geopolitical events, and technological advancements are some of the key factors that can influence the market conditions.
Major key players in the market include SKY Perfect JSAT Group, L3 Technologies, Inc., Viasat, Inc., Cobham Limited, EchoStar Corporation, SES S.A, Intelsat, GILAT SATELLITE NETWORKS, Telesat, and Thuraya Telecommunications Company. These companies operate in various sectors such as maritime, aerospace and defense, industrial, transportation and logistics, agriculture, media, government and public safety, enterprises, and others.
The COVID-19 pandemic has had a significant impact on the global economy and various industries. The disruption of global supply chains, decreased demand, and temporary closures of businesses have been observed. However, industries like healthcare, online retail, and delivery services have seen an increase in demand.
In 2022, the global satellite communication market size was valued at USD million and is projected to reach USD million by 2028, with a CAGR of percent during the forecast period. The market report provides comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, competitive analysis, company profiles, and trade statistics.
Extensive research and analysis were conducted to gather qualitative and quantitative data. Primary and secondary sources, including interviews, press releases, reports, and expert opinions, were used to verify the data. The report covers the historical period from 2018 to 2022 and the forecast period from 2023 to 2028.
The market is divided into different types such as SATCOM transmitter/transponder, SATCOM antenna, SATCOM transceiver, SATCOM receiver, SATCOM modem/router, and others. It is also segmented by applications including maritime, aerospace and defense, industrial, transportation and logistics, agriculture, media, government and public safety, enterprises, and others.
The market is analyzed based on regions and countries such as North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. To better understand the market conditions, a five forces analysis and PESTLE analysis are conducted, which consider factors such as political, economic, social, technological, legal, and environmental aspects.
Overall, the satellite communication market is expected to witness significant growth in the coming years. It presents opportunities for various industry players and offers innovative solutions for communication needs in different sectors.