Selbyville, Delaware, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Satellite Communication Market was valued at USD 23.1 billion in 2024 and is projected to be worth USD 71.5 billion by the end of 2034, as per a recent study by Global Market Insights Inc.
This growth is primarily fueled by the increasing demand for reliable internet connectivity, particularly in remote and underserved areas where traditional infrastructure is limited or unavailable. The satellite communication market is categorized into two main segments: products and services. The services segment is expected to experience significant expansion, with a CAGR of 12.5% during the forecast period.
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The surge in demand for SATCOM services is driven by the growing need for satellite solutions in industries such as telecommunications, defense, maritime, aviation, and government. A notable trend in this space is the rising adoption of managed services and connectivity solutions, particularly in regions where conventional infrastructure is scarce. Managed services, including satellite capacity leasing and network management, offer comprehensive solutions that ensure continuous communication for industries like aviation and maritime, where reliable, real-time connectivity is essential.
The satellite communication market is further segmented by industry verticals into commercial and government & defense. The commercial sector holds a dominant market share, accounting for USD 16.7 billion in revenue in 2023. The demand for reliable and consistent connectivity in the commercial sector is rapidly increasing, especially in regions without stable internet options. One major trend in this area is the growing use of satellite broadband to bridge the connectivity gap in remote locations. The expansion of satellite services across various industries is driving this growth. For example, sectors such as aviation rely on SATCOM for in-flight connectivity and efficient real-time data transmission, while maritime businesses use satellite communication for navigation and communication in isolated areas.
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North America led the satellite communication market in 2023, with a 48.5% market share. In the United States, there is an increasing trend toward fully managed satellite communication services, particularly within the defense sector. The military leverages commercial SATCOM solutions, utilizing Software as a Managed Service (SaaMS) models to provide flexible, scalable, and secure communication options. These solutions offer cost-effective methods for maintaining constant connectivity and quick data access. The U.S. government’s ongoing investment in satellite communications highlights its growing reliance on the private sector for advanced, secure communication solutions in defense and beyond.
Satellite Communication Market Players
Companies including ASELSAN, AvL Technologies, Cobham Satcom, EchoStar Mobile, General Dynamics Mission Systems, Gilat Satellite Networks, Holkirk Communications, Honeywell, Intellian Technologies, Iridium Communications, L3Harris Technologies, Thales, Viasat, Viking Satcom are some firms working in satellite communication industry.
This satellite communication market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2021 to 2034, for the following segments:
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Market, By Solutions
- Product
- Antennas
- Phased arrays
- Active Electronically Scanned Array (AESA)
- Digital Beam Forming (DBF) Array
- Others
- Transceivers
- Transmitters
- Receivers
- Power amplifiers
- Converters
- Modem & routers
- Other component
- Antennas
- Services
- Engineering & integration
- Installation
- Logistics & maintenance
Market, By Platform
- Portable
- Manpack
- Handheld
- Deployable/Flyaway
- Land Mobile
- Commercial Vehicles/Transport
- Military vehicles
- Unmanned ground vehicles
- Land Fixed
- Command & control centers
- Earth Stations/Ground Station
- Direct To Home (DTH)/Satellite TV
- Enterprise systems
- Airborne
- Commercial aircraft
- Military aircraft
- Unmanned Aerial Vehicles (UAVs)
- Maritime
- Commercial ships
- Military ships
Market, By Frequency
- C Band
- S Band
- L Band
- X Band
- Ka Band
- Ku Band
- VHF/UHF Band
- EHF/SHF Band
- Others
Market, By Industry Vertical
- Commercial
- Telecommunication & cellular backhaul
- Media & entertainment
- Transportation & logistics
- Scientific research & development
- Aviation
- Marine
- Retail & consumer
- Others
- Government & defense
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
