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SATCOM Market to Register a CAGR of 7.73% by 2026; Growing Implementation of Artificial Intelligence to Enhance Market Scope

April 23, 2020 | Aerospace & Defense

The global satellite communication (SATCOM) market size is predicted to reach USD 41.33 billion by 2026. The increasing integration of IoT for various application in the aviation industry such as aircraft connectivity, airlines, air traffic management, and MRO management will boost the market growth in the forthcoming years. Moreover, the growing application of SATCOM in radio broadcasting & voice communications, internet application & navigations, remote sensing, water monitoring, and weather monitoring applications will create growth opportunities for the market in the forthcoming years, mentioned in a report, titled “Satellite Communication (SATCOM) Market Size, Share & Industry Analysis, By Component (Receiver, Transmitter/Transponder, Transceiver, Antenna, Modem/Router, and Others), By Technology (Very Small Aperture Terminal (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 equipment, Land equipment, Maritime equipment, and Airborne equipment), and Regional Forecast, 2019-2026” the market size stood at USD 22.61 billion and is predicted to exhibit a CAGR of 7.73% between 2019 to 2026.


 US Army Milsatcom Contract Awarded to Comtech will Enable Speedy Expansion


Comtech Telecommunications Corp., a global leader in innovative products, systems, services, and solutions received a contract to deliver global field support services for military satellite communication terminals around the world. The deal involves an initial transaction of $22.2 million with a $98.6 million ceiling, which will be fulfilled in twelve months. The contract can be an essential influence in accelerating the satellite communication market growth in the foreseeable future owing to the capabilities of the mission critical ground satcom terminals, which offers inter and intra-theater network communications with worldwide reach back capability.


In addition, the contract comprises of engineering and technical skills to support these terminals, including logisticians, help desk, network engineering, security engineering, Radio Frequency (RF) and satellite system engineering and support.


In addition, the growing contracts and deals among companies and defense organizations will promote the SATCOM market trends in the forthcoming years. CACI International Inc., an American multinational professional services and information technology company headquartered in Arlington, Virginia bagged a contract worth USD 180.3 million from the U.S. Navy. The contract covers satellite communications systems and network support services for the Navy


To get a detailed report summary and research scope of this market, click here:


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


Implementation of Advanced Technologies to Boost Market Prospects


The rising implementation of artificial intelligence, data analytics, and the cloud computing in satellite communication will augur well for the market. For instance, These technologies assist in improving flight operations and play a major role in military for combat operations and battlefield management.


Furthermore, the utilization of these technologies for real-time data in tracking and monitoring purposes will support healthy growth of the market in the forthcoming years. However, the cyber-security threats and concerns will pose as a damaging factor for the market growth. The vulnerabilities in launch systems, communications, tracking and command, telemetry, and mission completion will restrict the expansion of the market in the foreseeable future.


Rising R&D Investments by Key Players to Stimulate Sales Openings


The SATCOM market is dominated by Inmarsat plc., Honeywell International, Inc., and The Boeing Company among others. The major players in market are focused on expanding their product portfolio of SATCOM. The increasing R&D for the development of SATCOM solutions will enable healthy business in the foreseeable future. The adoption of strategic acquisition and mergers by eminent layers will boost the market prospects during the forecast period.In addition, the rising technological advancement and product launches will spur market competition in the forthcoming year.


The Report Lists the Key Companies in this 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.

  • GILAT SATELLITE NETWORKS


Furthe Report Findings:



  • Regional Analysis: The market in North America stood at 13.11 billion in 2018 and is predicted to remain dominant during the forecast period owing to presence of eminent players in the US along with upgradation of conventional infrastructure in the region. Moreover, the growing urbanization and modernization will influence healthy growth of the market in Asia Pacific.

  • Leading Segment: The Satcom Automatic Identification system segment is expected to hold the lion’s share during the forecast period owing to the its wide-use in identifying and tracking marine vessels, location information, and collision avoidance.


The Satellite Communication Market is Segmented into:














































ATTRIBUTE



  DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



By Component



  • Receiver

  • Transmitter/Transponder

  • Transceiver

  • Antenna

  • Others



By Platform



  • Commercial

  • Government and Defense



By Technology



  • Satcom Automatic Identification System

  • Very Small Aperture Terminal (VSAT)

  • Satcom-On-The-Move (SOTM)

  • Satcom-On-The-Pause (SOTP)

  • Satcom Telemetry



By End Use



  • Portable equipment

  • Land equipment

  • Maritime equipment

  • Airborne equipment



By Region



  • North America (The U.S., and Canada)

  • Europe (The U.K., Germany, France, Italy, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • The Middle East and Africa (Saudi Arabia, the UAE, Turkey, rest of the Middle East and Africa)

  • South America (Brazil, Argentina and rest of South America)


Satellite Communication (SATCOM) Market
  • PDF
  • 2018
  • 2015-2017
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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