The global SATCOM equipment market size is expected to witness promising growth in the coming years on account of the rise in the number of small satellite launches. SATCOM equipment mainly comprises of the control system, communication payload, command, antenna, switching systems, transponder, and an antenna. They are used for a wide range of applications such as telecommunications, military service, weather monitoring, navigation, and others. More information on this market is provided in a recently published report by Fortune Business Insights™ titled, “Satcom Equipment Market Size, Share & Industry Analysis, By Component (Transponders, Transceivers, Converters), By Satellite Type (Cubesat, Small, Medium, Large), By Application (Earth Observation & Remote Sensing, Communication, Scientific Research & Exploration, Navigation, Others), By End-User (Commercial, Government & Military) Others and Regional Forecast, 2021-2028.”
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Fortune Business Insights™ lists out a few of the renowned companies present in the satcom equipment market. They are as follows:
- Cobham Plc (UK)
- Mitsubishi Electric Corporation
- General Dynamics Corporation (US)
- Honeywell International Inc.
- Tesat-Spacecom GmbH & Co. Kg
- Oxford Space Systems
- L3 Technologies (US)
- Airbus SE
- NEC Space Technologies, Ltd.
- Gomspace A/S
- Ball Aerospace and Technologies Corporation
- Ruag Group
- Antwerp Space
- Maxar Technologies
- Viasat (US), and Harris Corporation (US)
- ISIS – Innovative Solutions in Space B.V.
- Cobham PLC
What is the Scope of the Report?
The report offers an extensive overview of the SATCOM equipment market based on parameters such as driving, repelling, promoting, and challenging factors. It also emphasizes on the different segments that the market is divided into based on factors such as component, satellite type, application, end user, and geography and throws light on the leading segments and their market figures. The report discusses the current SATCOM equipment market trends, recent industry developments, and other interesting insights into the market. It also studies the competitive landscape, list of players operating in it, and the names and critical strategies of key players to stand stiff in the competition and generate better revenue in the forecast period.
Advent of 3D Printed RF Components to Create Better Business Opportunities
The increasing number of small satellite launches is a significant factor in promoting the SATCOM equipment market growth. Additionally, the growing demand for Ka and Ku band satellites will also help augment the market in the forecast period. This, coupled with the rise in need for observing the earth and rising need for better satellite communication, will also aid in the expansion of the market. Furthermore, the increasing need for internet access to suffice to the growing demand for satellite networks.
However, regulatory challenges concerning the rising number of proposed small satellite launch or related to component design may pose a significant challenge to the market. Nevertheless, the new optical technology for inter-satellite communication, high data rate communication equipment, and the advent of 3D printed RF components are expected to offer lucrative growth opportunities for the market in the long run.
North America will Dominate Market with Increasing Number of Satellite Launches
As per region, the market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. Among these, the market is dominated by North America attributed to the rise in the number of satellite launches for 5G, thus driving the market in the U.S. Additionally, the market in Canada is engaging in the start of small satellites for research and development purposes, and this will further help this region continue dominating the market in the coming years.
On the other side, Asia Pacific is expected to earn a significant SATCOM equipment market share in the forthcoming years on account of the increasing investments in space programs by the government of India. Besides this, the launch of medium satellites in the nations of Germany and the UK will help the European market remarkably in the forecast period.
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Vendors Engaging in Contracts with Space Agencies for Better Revenue Generation
Companies operating in the global SATCOM equipment market are engaging in product development and up-gradation for gaining momentum in the market and reaching a prominent position in the competition. Companies are also striving to gain contracts with space agencies for implementing the latest technology into SATCOM services for a better experience. The government is also supporting this growth by adopting SATCOM services and implementing them in their defense services by getting into agreements and contracts worth millions with the vendors. Such initiatives will help attract high SATCOM equipment market revenue in the forecast period.
Significant Industry Developments of the SATCOM Equipment Market include:
November 2019 – A contract worth USD 731.8 million was signed between the U.S Navy and General Dynamics Mission Systems Inc. for the MUOS communication system. MUOS is the next-generation satellite communication system that offers secure data and voice communications to the world from the U.S Navy.
December 2019 – A contract worth USD 89.9 million was assigned to Centurum Information Technology by the U.S. Department of Defense (DoD) for providing technical support for SATCOM services to the DoD.
Key Questions Answered:
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
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