Allied Market Research recently published a report, titled, “Satellite Connectivity Market by Component (Video, Fixed, Mobility), by Orbit (Elliptical, GEO, LEO, MEO), by End User (Civil and Earth Observation, Government and Military, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global satellite connectivity industry was pegged at $11.12 billion in 2021, and is expected to reach $22.12 billion by 2030, growing at a CAGR of 7.3% from 2022 to 2031.
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Increase in government investment in space exploration and surge in satellite launches have boosted the growth of the global satellite connectivity market. In addition, increase in adoption of satellite constellation supplemented the market growth. However, high initial investment and stringent government regulations regarding satellite launches hinder the market growth. On the other hand, surge in demand for satellite data and growing integration of artificial intelligence, machine learning, and cloud computing are expected to open new opportunities in the future. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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By component, the fixed segment is estimated to portray the highest CAGR of 8.9% during the forecast period, due to rise in demand for satellite connectivity for fixed services throughout the world. However, the video segment held the largest share in 2021, accounting for around half of the global satellite connectivity market, and is expected to continue its dominance throughout the forecast period. This is owing to high demand for satellite connectivity for video throughout the world.
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By region, the global satellite connectivity market across North America held the largest share in 2021, accounting for more than half of the market. This is due to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making advanced, reliable, precise, and efficient satellite connectivity systems. However, the market across Asia-Pacific is expected to register the highest CAGR of 9.9% during the forecast period, owing to rise in procurement and development of advanced satellite connectivity systems across several Asian nations, for instance, China, India, Japan, and South Korea.
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Major market players
- ASELSAN A.S.
- Honeywell International Inc
- General Dynamics Corporation
- Israel Aerospace Industries Ltd.
- Indra
- Leonardo S.p.A.
- L3Harris Technologies, Inc
- Thales
- Norsat International Inc.
- Viasat Inc.
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Similar Reports We Have on Satellite Industry:
Satellite Services Market by Type (Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, and Space Flight Management Services) and End-User Industry (Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2030.
Satellite Market by Type (Large Satellite, Mini Satellite, Micro Satellite, and Nano Satellite), End User (Commercial, Civil, Government, and Others) and by Applications (Scientific Research, Technology Demonstration and Verification, Earth Observation and Remote Sensing, Scientific Research, Communication, Others) – Opportunity and Forecast, 2017-2030.
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