Rise in telecommunication traffic across the globe, increase in number of mobile phone users, and need for reliable communication among end users are drive growth of the market. However, costly implementation and lack of technical expertise hampers the market growth. Furthermore, rise in adoption of various advanced technologies such as machine-to-machine communication and internet of things (IoT) in optical satellite communication is expected to provide lucrative opportunities for the global optical satellite communication market.
North America is expected to dominate the market growth, owing to growth in adoption of optical satellite communication solution in the U.S. and Canada. These countries heavily invest in new technologies and R&D. In addition, countries in the region, such as the U.S, use satellite communication in the defense sector to track defense activities globally from the orbit. They are equipping army defense trucks and aircrafts with satellite receivers, which is expected to boost the market growth. Asia-Pacific is also expected to witness a significant growth, owing to increase in digital satellite broadcasting and internet services. Governments from these countries are taking several initiatives, which is expected to fuel the optical satellite communication market growth, for instance, in 2018, France based CNES and ISRO, India, made a collaboration for an earth observation mission for high resolution imaging capability in optical and microwave technology.
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The optical satellite communication market is growing at a very fast pace across the globe. In addition, the market is very competitive so prominent players are adopting different strategies such as expansion of their services, new product launches, collaborations, partnerships, and mergers to increase their customer base. For instance, in 2018, Atlas Space Operations, Inc. and Xenesis, Inc. made an alliance to develop advanced optical satellite communication network particularly designed for high data flow from the space. Similarly, Ball Aerospace & Technologies made an alliance with Honeywell Corporation to produce high performance optical communication data links. All these strategies by prominent players are anticipated to fuel the market growth in the future.
Key industry players such as – Analytical Space Inc., ATLAS Space Operations, Inc., BridgeSat Inc. Hisdesat Servicios Estrategicos S.A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A, Ball Aerospace & Technologies Corp., Mynaric AG, Laser Light Communications Inc.
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Key benefits of the report:
- This study presents analytical depiction of the global optical satellite communication market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global optical satellite communication market growth scenario.
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Segmental analysis of the market is provided in both qualitative and quantitative aspects. This aids the clients in identifying the most lucrative segment to go on with investments, on the basis of a complete backend analysis concerning the segmental presentation, coupled with brief salutation of the operating organizations and their important developmental activities.
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