SATCOM Equipment Market Worth USD$30.32B by 2022
According to the report, "Satellite Communication (SATCOM) Equipment Market by Product (Receiver, Transmitter/Transponder, Transceiver, Antenna, Modem/Router), Technology (VSAT, SATCOM on the Move, SATCOM on the Pause), End-Use, Vertical and Region--Global Forecast to 2022," the SATCOM equipment market is estimated to be USD $20.20 billion in 2017 and is projected to reach USD $30.32 billion by 2022, at a CAGR of 8.46 percent during the forecast period. The growth of this market is driven by the high demand for advanced, energy-efficient and uninterrupted communication systems with enhanced lifespan, increased reliability and varied functionalities.
The SATCOM transceiver product segment is expected to lead the SATCOM equipment market during the forecast period.
By product, the SATCOM transceiver segment is estimated to hold the largest share of the SATCOM equipment market in 2017 and is also expected to be the largest segment throughout the forecast period. This segment’s expected high growth is due to the increasing use of satellites for navigational purposes as well as for surveillance by defense authorities worldwide. There has been an increase in research and development activities for SATCOM equipment in the U.S. as well as in emerging economies, such as India and China, over the past few years, which has, in turn, increased the demand for SATCOM transceivers worldwide.
The land mobile SATCOM equipment end-use segment is expected to grow at the highest rate during the forecast period.
SATCOM equipment is now a vital part of the global ecosystem and plays a major role in the daily lives of people across the world. SATCOM systems are used in a wide array of applications, such as telecommunications, weather monitoring, military and navigation. Based on end-use, the land mobile SATCOM equipment segment of the SATCOM equipment market is estimated to grow at the highest rate from 2017 to 2022. Land mobile SATCOM equipment is widely used to obtain real-time information during warfare. Object detecting, tracking and reporting functions are performed by satellite antennas. Land mobile SATCOM systems can also effectively locate unexploded ordinance and tunnels and trace movements near exterior walls as well as critical infrastructures and buildings. They are used, along with airborne, naval and space satellites for target integration.
North America is estimated to account for the largest share of the SATCOM equipment market in 2017.
The major driver for the SATCOM equipment market in North America is technological advancements, which have led to improvements in transmission capacity and in minimizing the cost of launching satellites for commercial and military applications. The latest technological developments, such as propulsion technology and spacecraft design, and advancements in Earth observation services have also contributed to the growth of the SATCOM equipment market in North America. Additionally, the high demand for SATCOM equipment from NASA, the U.S. Department of Defense and the private sector, along with the rising demand for uninterrupted communication in the defense sector fuel the SATCOM equipment market in North America.
General Dynamics Corporation (U.S.), L3 Technologies Inc. (U.S.), Cobham Plc (U.K.), Harris Corporation (U.S.), Viasat Inc. (U.S.), Gilat Satellite Networks (Israel), Campbell Scientific Inc. (U.S.), Hughes Network Systems LLC (U.S.) and Aselsan A.ª. (Turkey) are some of the leading players in the SATCOM equipment market.