The global satellite communication market was valued at USD 31.22 billion in 2023 and is expected to expand from USD 33.98 billion in 2024 to USD 70.89 billion by 2032, reflecting a CAGR of 9.6% during the forecast period. Additionally, the U.S. SATCOM market is anticipated to witness substantial growth, reaching approximately USD 25.15 billion by 2032, fueled by rising defense procurements and increasing R&D investments in the space industry.

The Report List the Key Players in the Satellite Communication Market

• Boeing (U.S.)
• Cobham Limited (U.K.)
• Communications and Power Technologies(U.S.)
• Honeywell International Inc. (U.S.)
• Inmarsat Global Limited (U.K.)
• Iridium Communications Inc. (U.S.)
• L3Harris Technologies, Inc. (U.S.)
• Qualcomm Technologies, Inc. (U.S.)
• Viasat, Inc. (U.S.)
• KVH Industries, Inc. (U.S.)

Information Source:

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

Satellite Communication Market Segmentation

The satellite communication market is segmented based on components, frequency bands, applications, end-users, and geography. By component, the market includes equipment such as SATCOM transceivers, antennas, modems, amplifiers, and receivers, along with services categorized into managed and professional services. In terms of frequency bands, the market is classified into L-band, C-band, S-band, X-band, Ku-band, Ka-band, and V-band. The application segment covers various industries, including government and defense for military communications, surveillance, and emergency response, as well as commercial applications like broadcasting, telecommunications, and IoT. Additionally, maritime (ship-to-shore communications, navigation), aviation (in-flight connectivity, air traffic control), and automotive & transportation (connected vehicles, fleet management) are key areas of application. The end-users of SATCOM solutions span across government & defense, commercial enterprises, aviation & maritime operators, energy & utilities, and media & entertainment industries. Geographically, the market is divided into North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of Asia-Pacific), the Middle East & Africa, and Latin America.

Competitive Landscape:

Contract for Satellite Ground Systems by Navy to Favor Growth