Satellite Communication Market Size, Global Opportunities, Share, Growth, Industry Trends to 2026 The

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Satellite Communication Market Size, Global Opportunities, Share,
Growth, Industry Trends to 2026

The global satellite
communication market size is predicted to reach USD 41.33
billion by 2026, exhibiting a CAGR of 7.73% during the forecast period. The
rising demand for small satellites in energy, oil & gas, defense, and other
sectors will boost the satellite communication (SATCOM) market trends during
the forecast period. The growing utilization of small satellites in the defense
sector for applications such as, tactical communication, medium
resolution imagery, and geospace & atmospheric research will create sales
opportunities for the satellite communication (SATCOM) market share in the
forthcoming years, states Fortune Business Insights in a report, titled “Satellite
Communication (SATCOM) Market Size, Share & Industry Analysis, By Component
(SATCOM Receiver, SATCOM Transmitter/Transponder, SATCOM Transceiver, SATCOM
Antenna, SATCOM Modem/Router, and Others), By Technology (SATCOM Vsat,
Satcom-On-The-Move (SOTM), Satcom-On-The-Pause (SOTP), SATCOM Telemetry, and
SATCOM Automatic Identification System), By Platform (Commercial and Government
& Defense), By End Use (Portable SATCOM equipment, Land SATCOM equipment,
Maritime SATCOM equipment, and Airborne SATCOM equipment), and Regional
Forecast, 2019-2026” the market size stood at USD 22.61 billion in
2018.

An Overview of the Impact
of COVID-19 on this Market:

The emergence of COVID-19 has brought the world
to a standstill. We understand that this health crisis has brought an
unprecedented impact on businesses across industries. However, this too shall
pass. Rising support from governments and several companies can help in the
fight against this highly contagious disease. There are some industries that
are struggling and some are thriving. Overall, almost every sector is
anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your
business sustain and grow during COVID-19 pandemics. Based on our experience
and expertise, we will offer you an impact analysis of coronavirus outbreak
across industries to help you prepare for the future.

The Report List the Key Players
in the Satellite Communication (SATCOM) Market

Inmarsat
plc

Honeywell
International, Inc.

The
Boeing Company

L3
Harris Technologies, Inc.

Indra
Sistemas, S.A.

General
Dynamics Corporation

Cobham
plc

Viasat,
Inc.

Iridium
Communications Inc.

Qualcomm
Technologies, Inc.

Competitive Landscape:

Contract for Satellite
Ground Systems by Navy to Favor Growth

General Dynamics Corporation, an American
aerospace and defense corporation received a contract from Navy to build
the ground system for the Mobile User Objective System. The $732 million
contract awarded by Navy can be an exponential factor in boosting the satellite
communication (SATCOM) market growth during the forecast period owing to the
Navy’s next generation narrowband satellite communications system, providing
secure voice, video and data communications to military users all over the
globe. According to General Dynamics, just one MUOS satellite can provide four
times the capacity of the entire legacy system. Furthermore, the vice president
and general manager for General Dynamics’ space and intelligence systems, Manny
Mora, said in a statement, “MUOS will provide our warfighters with the ability
to communicate securely, anywhere, anytime, with voice clarity and data
transmission speed similar to using a civilian cell phone, this capability
delivers a whole new level of connectivity for troops in the field.” In
addition, the growing seaborne trade across countries will spur opportunities
for the market in the forthcoming years. Nonetheless, the rising focus on
autonomous and connected ships by numerous nations will fuel demand for
satellite communication, which, in turn, will aid the market.

Regional Analysis:

Surge in Telecommunication
Industry to Stimulate Growth in Asia Pacific

The market in North America stood at 13.11
billion in 2018 and is predicted to grow rapidly during the forecast period
owing to the growing military expenditure. The presence of key
manufacturers such as General Dynamics Corporation, L3 Harris
Corporation, Honeywell International, Inc., Hughes Network Systems LLC, and
others will aid healthy growth of the market during the forecast period. Asia
Pacific is likely to witness high demand for SATCOM owing to the surge in
telecommunication, aviation, and defense sector. Europe is expected to
accounted for a major share in the market due to the growing modernization in
the region. Nonetheless, Latin America is expected to grow rapidly in the
foreseeable future owing to the reinforcement of military communication
infrastructure.

Key Questions Answered:

Why
Choose Fortune Business Insights?

What
are the key demands and trends shaping the market?

What
are the key opportunities in the market?

What
are the key companies operating in the market?

Which
company accounted for the highest market share?

What
is the market size and growth rate of the global and regional market by
various segments?

What
is the market size and growth rate of the market for selective countries?

Which
region or sub-segment is expected to drive the market in the forecast
period?

What
Factors are estimated to drive and restrain the market growth

KEY INDUSTRY DEVELOPMENTS:

In
March 2020- CACI
International Inc.had a contract with the U.S. Navy worth USD 180.3
million. In this contract, the company will provide satellite
communications systems and network support services for the Navy.

In
March 2020-Peraton
received a contract of value USD 218 million to provide commercial
satellite communications services for the U.S. Africa Command. This
contract will establish a strong partnership with the government of the
U.S.

Browse Summary of This
Research:

https://www.fortunebusinessinsights.com/satellite-communication-satcom-market-102679

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