PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1262735
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1262735
Global SATCOM Equipment Market is valued at approximately USD 22 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 19.6% over the forecast period 2022-2029. SATCOM equipment comprises electronic devices that enable communication with satellites in earth's orbit or space, such as amplifiers, space antennas, and transceivers. The SATCOM Equipment market is expanding because of factors such as rising demand for enriched data communication and growing expenditure on space programs withing aerospace industry.
SATCOM equipment is the backbone of space agencies and commercial space companies, as it takes care of the information & communication infrastructure of the space industry. Its prevalence has progressively increased during the last few decades. According to Statista, in 2022, global government expenditure for space programs hit a record of approximately USD 103 billion. The United States Government spent almost 62 billion U.S. dollars on its space programs in 2022, making it the country with the highest space expenditure in the world. The U.S. was followed by China, with government expenditure on space programs of almost USD 12 billion. Another important component driving space increasing demand for data communication. In 2021, worldwide fixed data communication services generated a revenue of around 0.39 trillion U.S. dollars, an increase in revenue compared to 2020. In addition, Iridium communications received a research and development contract from the United States army to develop a payload to be hosted on small sats that support navigation systems, guidance, and control for the Global Positioning System and GPS-denied precision systems. The army intends to develop this payload to support the concept of a rapidly deployable small sat constellation to provide more effective sensor-to-soldier data transmission. Also, rising demand for 5G high-speed internet and increasing launch of satellites for Earth observation would create a lucrative growth prospectus for the market over the forecast period However, government regulations on space equipment & satellite stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global SATCOM Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the growing use of SATCOM equipment in space exploration. According to Statista, by 2025, the North American market for global satellite systems is expected to reach some USD 62 billion. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising space research organization projects, and active participation of government organizations in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable