Chicago, April 11, 2023 (GLOBE NEWSWIRE) -- The Satellite Modem Market by Application (Mobile & Backhaul, Offshore Communication, Tracking & Monitoring), End-User Industry (Telecom, Marine, Military), Channel Type, Data Rate, Technology, & Geography 2026, VSAT Technology segment is expected to grow at a highest CAGR of 7.87%. In the upcoming years, the market for satellite modems is anticipated to expand rapidly due to the rising need for high-speed data connectivity in rural and distant places. The increasing use of satellite communication in a variety of sectors, including as oil and gas, defence, and aerospace, is one of the other reasons boosting the market.
Rising need for enriched high-speed data communication
The rising demand for real-time and high-speed communication has generated demand for advanced high-speed satellite modems from different end-user industries such as marine, transportation, telecommunications, oil and gas, and education, among others. To address this growing need, satellite modem manufacturers, such as ST Engineering (Singapore) Viasat, Inc. (US), Teledyne Technologies (US), and Comtech EF Data Corporation (US), are designing high-speed satellite modems. Such continuous developments in satellite modem technology have enabled users to transmit large amounts of data efficiently.
Increasing launches of LEO satellites and constellations
CubeSats and other small satellites are also gaining attention; many companies in this marketspace have proposed or are implementing plans to build satellite constellations. For example, Starlink had 356 satellites in orbit from 2019 to May 2020. As of August 2021, there were 1600 Starlink satellites in the orbit. SpaceX is also in the race to deploy small LEO satellites and has filed paperwork for up to 42,000 satellites for the constellation. Amazon is investing over USD 10 billion to build a constellation of 3,236 low-earth orbit satellites as a part of its global space internet initiative, Project Kuiper.
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Satellite Modem Market Report Scope:
| Report Metric | Details |
| Estimated Value | USD 403 Million |
| Expected Value | USD 710 Million |
| Growth rate | CAGR of 12.0% |
| Forecast period | 2021–2026 |
| On Demand Data Available | 2030 |
| Years considered | 2017–2026 |
| Forecast units | Value (USD million), Volume (Units) |
| Segments covered |
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| Regions covered |
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| Market Leaders | ST Engineering (Singapore), Gilat Satellite Networks Ltd. (Israel), NOVELSAT (Israel), WORK Microwave GmbH (Germany), ND SATCOM (Germany), Amplus Communication (Singapore), AYECKA Ltd (Israel), and SatixFy (Israel) |
| Top Companies in North America | Comtech Telecommunications Corp. (US), Teledyne Technologies (US), Viasat, Inc. (US), ORBCOMM Inc. (US), Datum Systems (US), Hughes Network Systems (US). |
| Key Market Driver | Rising need for enriched high-speed data communication |
| Key Market Opportunity | Increasing launches of LEO satellites and constellations |
| Largest Growing Region | Asia Pacific |
| Highest CAGR Segment | Transportation and Logistics End-user Industry, Metal Processing End-user Industry |
“The satellite modem market for MCPC satellite modem is expected to grow at a higher CAGR from 2021 to 2026.”
The satellite modem market for MCPC channel type is expected to grow at a higher CAGR from 2021 to 2026. The growth of this segment is attributed to the unparalleled channel efficiency offered by these modems, which is the core requirement of high-data-traffic applications, such as mobile communication, internet, and broadband services. MCPC satellite modems can be integrated with IP networks to provide seamless connection for voice, video, and data traffic. Broadband internet services for enterprise networks are possible through MCPC modem technology because of its high data rate capacity over satellite technology.
“High speed data rate satellite modems expected to hold the largest share of the satellite modem market during forecast period.”
High speed data rate satellite modems are expected to hold the largest share of the market from 2021 to 2026. This is due to the growing demand for high-data rate and high-bandwidth applications such as mobile & backhaul and offshore communication. Satellite service providers enable internet, cellular, and data network connectivity for remote locations. To keep pace with the high demand for data while controlling operational expenses, high-speed data rate satellite modems are necessary.
“Browse in-depth TOC on "Satellite Modem Market Trends, Growth Drivers"
155 – Tables
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230 – Pages
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Market Leader - Satellite Modem Market
Top 2 Market Players:
ST Engineering (Singapore) is a global technology, defense, and engineering group specializing in the aerospace, electronics, land systems, and marine sectors. ST Engineering provides a portfolio of satellite modems under the brands called iDirect and Newtec. These products make it possible for its customers to deliver the best Satcom connectivity experience anywhere in the world. ST Engineering iDirect is the world’s largest TDMA enterprise VSAT manufacturer and focuses mainly on key industries, including broadcast, mobility, and military/government. To grow in the satellite modem market and position itself to take advantage of additional growth opportunities and meet its strategic objectives, the company has adopted a mix of inorganic and organic growth strategies, including contracts, partnerships, acquisitions, and product development. The company maintains its focus on R&D by collaborating with industrial players and academic institutes to stay ahead of the competition.
Comtech Telecommunications Corp. (US) designs, develops, manufactures, and markets products and systems for advanced communications solutions, as well as offers related services. Comtech EF Data Corporation, a subsidiary of Comtech Telecommunications Corp., provides satellite modems to support mission-critical and demanding applications for government, mobile backhaul, premium enterprise, and mobility. The company has established long-standing relationships with thousands of customers worldwide, including leading system and network suppliers in the global satellite (such as Intelsat S.A. and SES S.A.), mobile cellular (such as Verizon Wireless), defense, broadcasting, and aerospace industries, as well as the US federal government (such as the US Army and Navy), US state and local governments, and foreign governments.
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