Global Satellite Communication Market By Component (Receiver, Transceiver, Transmitter/Transponder, Antenna, and Other Components), By Application (Asset Tracking/Monitoring, Navigation & Monitoring, Broadcasting, Voice Communication, Data Communication, and Other Applications), By Industry Vertical, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Satellite Communication Market is expected to be valued at USD 83.3 billion in 2023. The industry is predicted to expand at a CAGR of 9.4% from 2023 to 2032, reaching USD 182.7 billion by 2032.

Satellite communication is a medium of communication between various points on the Earth. The satellites provide communication links to various points on Earth. Satellite communication involves the functioning of various components for seamless operations. It includes a Receiver, Transceiver, Transmitter/Transponder, Antenna, and many such components. The wide use of satellites for communication and other applications across various industries has grown significantly in the last few years.

Note: Actual Numbers Might Vary In Final Report

The satellites are placed in various orbits around the Earth, like elliptical, geostationary, and low earth orbits. These satellites receive the signals from Earth and divert them to various points across the Earth. Therefore, it is easy to broadcast the data with the help of satellite communication. Some of the key broadcasting applications are radio programs, T.V. shows, and point-to-point communication.

Many governments and related agencies also use these satellites for various operations. The satellite provides secure and limited access communication to the militaries and government agencies through specific bandwidth to maintain confidentiality. It also helps the military and government to navigate through problematic areas. These advantages of satellite communication boost the growth of the satellite communication market.

Key Takeaways

• Market Growth: The Satellite Communication Market is reaching USD 182.7 billion by 2032 at a compound annual growth rate (CAGR) of 9.4%
• Market Trends: New satellite technologies, including software-defined satellites and mesh networking, are making satellite communications more cost-effective and versatile, thus opening new opportunities in several industries.
• By Component Analysis: The antenna leads the segment by accounting for most of its revenue share.
• By Application Analysis: Broadcasting holds an impressive revenue share of 21.6% of the global satellite communication market.
• By Industry Vertical Analysis: Commercial sectors dominate most industry vertical segments by commanding most revenue share accounts.
• Regional Analysis: North America leads the global satellite communication market with 31.54% revenue share and leads by example with regard to sales volumes.
• Key Player Analysis: Intelsat, Telesat, EchoStar Corporation, L3 Technologies Inc., Thuraya Telecommunications Company, SKY Perfect JSAT Group, GILAT SATELLITE NETWORKS, Cobham Limited, and Other Key Players.

Driving Factor

Rising Demand for Low Earth Orbit Satellites and Other Low-Cost Satellites is Driving the Growth of the Global Satellites Communication Market.

Over the last few years, the low earth orbit (LEO) satellites have covered the 500-2,000 km band. The low earth orbit satellites are deployed in the 500-2,000 km range band. Therefore, they can provide low latency, faster communication, and higher bandwidths than geostationary satellites. This is attracting many companies worldwide to adopt the low Earth orbit-based satellite services like communication that helps to communicate faster than the others in the competition. With low earth orbit satellites, the ‘CubeSats’ and other small satellites are also gaining attention due to their low-cost offerings with better benefits.

The high use of these satellites by various industries like banking, the energy sector, and governmental agencies is highly adopting these satellites for communication. These key factors are propelling the growth of the global satellite communication market. With the increasing use of satellites for broadcasting and point-to-point communication, the satellite communication market is expected to grow significantly throughout the forecast period.

Restraining Factor

Heavy Rules and Regulations from the Governments of Many Countries are Restricting the Growth of the Global Satellite Communication Market.

The satellite communication is done with the help of specific bandwidths as per the customer’s need. These bandwidths are controlled by governments in many countries across the world. The governments of many countries have imposed heavy rules and regulations to secure specific bandwidths from the common population to secure confidential information. Some governments have a policy to use these bandwidths under license and retractions. In some countries, governments control certain frequency bands to avoid foreign or unauthorized individuals’ interference. Due to this, the growth of the satellite communication market is hampered by these regulations.

By Component Analysis

Antennas Dominate the Component Segment by Covering the Major Revenue Share.

Based on components, the global satellite communication market is classified into the receiver, transceiver, transmitter/transponder, antenna, and other components. Among these components, the antenna leads the segment by holding the major revenue share into account. This antennae growth is due to the rising demand for phased array antenna systems in airborne and naval platforms.

The Pentagon’s Defense Innovation Unit and Space System Command are looking for alternatives to change the preferences from the existing parabolic antennas to modern electronic phased arrays that establish contact between various satellites and into different orbits and frequency bands. These key factors are driving the growth of antennae in the component segment of the global satellite communication market.

By Application Analysis

Broadcasting Leads the Segment by Securing a Major Revenue Share in the Satellite Communication Market

Based on application, the global satellite communication market is classified into asset tracking/monitoring, navigation and monitoring, broadcasting, voice communication, data communication, and other applications. From these applications, broadcasting holds a major revenue share of 21.6% to dominate the global satellite communication market. This growth in broadcasting is due to the rising demand for satellite communication for radio and other applications. Satellite communication can provide seamless connectivity in the remote and far-off areas. This has attracted many companies to broadcast their shows through satellites. These factors are propelling the growth of broadcasting in the application segment of the global satellite communication market.

Note: Actual Numbers Might Vary In Final Report

By Industry Vertical Analysis

The commercial Sector Dominates the Government Sector in the Global Satellite Communication Market.

The global satellite communication market is divided into government & defense and commercial sectors based on industry vertical. From these sectors, the commercial sector dominates the industry vertical segment by holding the major revenue share into account. This commercial sector growth can be attributed to the high adoption of satellite communication from industries like media & entertainment, transportation & logistics, marine, aviation, and many others.

The media and entertainment industry relies on satellite communication to broadcast content to remote areas. All these factors fuel the commercial Sector’s growth in the global satellite communication market. However, many governments and defense organizations are highly adopting satellite communication for secure and advanced communication solutions. This is expected to drive the growth of the government and defense sector throughout the forecast period.

Key Market Segments

Component

• Receiver
• Transceiver
• Transmitter/Transponder
• Antenna
• Other Components

Application

• Asset Tracking/Monitoring
• Navigation & Monitoring
• Broadcasting
• Voice Communication
• Data Communication
• Other Applications

Industry Vertical

• Commercial
  • IT & Telecommunications
  • Media & Entertainment
  • Transportation & Logistics
  • Aviation
  • Marine
  • Others
• Government & Defense
  • Military
  • Homeland Security & Emergency Management

Growth Opportunity

Integration of advanced technologies like A.I. and IoT is Expected to Create Many Lucrative Opportunities in the Global satellite communication Market.

Adopting cutting-edge technologies like artificial intelligence and the Internet of Things for communication through satellites is expected to create many lucrative opportunities in the market. The companies are integrating advanced technologies like artificial intelligence and the Internet of Things to ease intelligent transport systems. Intelligent transport systems (ITS) allow the customer to track the vehicle in real-time through the seamless transmission of data through the vehicle and transport hub through the satellites. This eliminates the need for a terrestrial network for tracking. This use of satellites in the transport and logistics market is expected to create many lucrative opportunities in the global satellite communication market.

Latest Trends

High Adoption of Small Satellites is Fueling the Growth of Global Satellite Communication Market.

Over the last few years, the market’s demand for small satellites has increased significantly. These small satellites are used for earth observation services in various sectors like energy, engineering, agriculture, oil & gas, and many such industries. This continuously rising demand for small satellites from these industries is fueling the growth of the global satellite communication market.

Moreover, the use of satellites like CubeSats is used by defense organizations for various applications like weather monitoring and secure battlefield communications. The defense organizations use secured and specific frequency bands to avoid foreign interference. This supports the growth of the global satellite communication market.

Regional Analysis

North America Leads the Global Satellite Communication Market by Holding Major Revenue Share in Account.

The North America region leads the global satellite communication market by covering a major revenue share of 31.5%. This growth of the North American region is attributed to the rising demand for communication satellites through the military and defense sectors in the region. Countries like the United States and Canada heavily invest in the military and defense sectors to strengthen their military power. Therefore, military organizations are highly adopting these satellites for more precise and seamless communication.

Also, the United States and Canada are home to many major companies offering communication satellites. All these factors are driving the growth of the satellite communication market in the North American region.

After North America, Asia Pacific is expected to grow significantly over the forecast period. The increasing use of satellite communication from countries like China and Japan is expected to drive the growth of the Asia Pacific region in the global satellite communication market during the forecast period.

Note: Actual Numbers Might Vary In Final Report

Key Regions and Countries Covered in this Report

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Player Analysis

The global satellite communication market is fragmented into many companies offering communication satellites. However, the key companies are adopting various strategies like mergers, acquisitions, partnerships, and collaboration to expand their business throughout various regions and strengthen their position in the market. Some of the key players in the global satellite communication market are SES S.A, Viasat Inc., Intelsat, Telesat, EchoStar Corporation, L3 Technologies Inc., Thuraya Telecommunications Company, SKY Perfect JSAT Group, GILAT SATELLITE NETWORKS, Cobham Limited, and Other Key Players.

Top Key Players in Satellite Communication Market

• SES S.A
• Viasat Inc.
• Intelsat
• Telesat
• EchoStar Corporation
• L3 Technologies Inc.
• Thuraya Telecommunications Company
• SKY Perfect JSAT Group
• GILAT SATELLITE NETWORKS
• Cobham Limited
• Other Key Players

Recent Developments

• In January 2023, Intellian announced the expansion of their XEO series by launching the X100D and X150D. The XEO series includes electrically switchable dual-band and multi-orbit Ku/Ka VSAT antennas. This XEO series offers maximum agility and availability with high bandwidth making it ideal for industries.
• In December 2022, Gilat Satellite Networks Ltd Announced their multimillion-dollar partnership with Intelesat to strengthen in-flight connectivity in America.

Report Scope