SATCOM Equipment Market Worth $30.32 Billion by 2022
April 11, 2018 | PRNewswireEstimated reading time: 2 minutes
The SATCOM equipment market is estimated to be $20.20 Billion in 2017 and is projected to reach $30.32 Billion by 2022, at a CAGR of 8.46% 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 US 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 US 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 (US), L3 Technologies, Inc. (US), Cobham Plc (UK), Harris Corporation (US), Viasat, Inc. (US), Gilat Satellite Networks (Israel), Campbell Scientific, Inc. (US), Hughes Network Systems LLC (US), and Aselsan A.ª. (Turkey) are some of the leading players in the SATCOM equipment market.
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Suggested Items
Commercial Demand Continues to Be the Main Driver of Personal Computing Device Shipments into the GCC Region
03/26/2024 | IDCThe Gulf Cooperation Council (GCC) personal computing device (PCD) market, which is made up of desktops, notebooks, and workstations, declined 4.0% year on year in 2023, with high inventory levels and reduced consumer spending the primary causes.
Suppliers Aim to Raise Contract Prices, But With Uncertain Demand, 2Q24 DRAM Price Increase Expected to Narrow to 3–8%
03/26/2024 | TrendForceTrendForce’s latest report reveals that despite DRAM suppliers’ efforts to trim inventories, they have yet to reach healthy ranges. As they continue to improve their lose situations by boosting capacity utilization rates, the overall demand outlook for this year remains tepid.
LPKF Reports Strategic Successes and Narrowly Achieves Forecast for 2023 Financial Year
03/26/2024 | LPKFLPKF Laser & Electronics SE generated revenue of EUR 124.3 million in the financial year (previous year: EUR 123.7 million) and earnings before interest and tax (EBIT) of EUR 3.7 million (previous year: EUR 6.8 million), putting the EBIT margin at 3.0% (previous year: 5.5%).
Arlon EMD and EMC Announce Expansion in California
03/25/2024 | Arlon EMDArlon EMD, a division of Elite Materials Company (EMC), announces a factory expansion at the Rancho Cucamonga, CA location. Arlon is a global leader in high performance thermoset substrates for mission critical printed circuit boards manufactured for high endurance and long-life programs. Arlon has a 45-year history of manufacturing specialty materials for the Aerospace, Industrial and Military (AIM) markets.
Intraratio Enhances MES + Yield / IoT Management with New Advanced Manufacturing Analytics
03/22/2024 | IntraratioIntraratio announced AICard, which harnesses the power of artificial intelligence and machine learning to empower manufacturers to make informed decisions quickly and accurately regarding product quality and manufacturing line performance and optimization.