Satellite Communication Market Synopsis

Satellite Communication Market Size Was Valued at USD 64.24 Billion in 2023 and is Projected to Reach USD 159.07 Billion by 2032, Growing at a CAGR of 10.6% From 2024-2032.

Satellite communication is an artificial satellite that relays and amplifies radio telecommunication signals through a transponder and creates a communication channel between a source transmitter and a receiver at different locations on Earth.

• Satellite communication is mainly used for TV broadcasting where in this way, the signal can be transmitted to a large geographical region. They are very useful in providing telephone coverage for any region, they provide full coverage for phone, fax, and internet connection.
• A VSAT terminal which is connected to the satellite is used to create a two-way communication for accessing Remote ATM locations and network Connectivity in Rural Areas. It has applications in Monitoring power lines, Monitoring vegetation in corridors, forecasting the weather which is an input for planning operations, for Synchronizing electronic equipment to track the location of any device.
• It is also beneficial for the Telemedicine Program of Satellite communication and information technology with Biomedical Engineering and Medical Sciences to deliver Medical and healthcare services to remote, distant, and underserved regions.
• It is also applicable for Tele-Education services which is very helpful to the seekers which was the main way during the pandemic, it is used for Communication in Disaster management by predicting the weather conditions. It is used for Business communications and commercial use mainly through media etc.

Top Active Players Involved Are:

“Intelsat (United States), SES S.A. (Luxembourg), Eutelsat Communications (France), Inmarsat Global Limited (United Kingdom), Iridium Communications Inc. (United States), Viasat Inc. (United States), Thales Group (France), Honeywell International Inc. (United States), L3Harris Technologies, Inc. (United States), Cobham Limited (United Kingdom), Gilat Satellite Networks (Israel), EchoStar Corporation (United States), SpaceX (United States), Boeing (United States), Northrop Grumman (United States), Lockheed Martin (United States), Qualcomm Technologies, Inc. (United States), Hughes Network Systems (United States), Blue Origin (United States), Telesat (Canada), Leonardo S.p.A. (Italy), OHB SE (Germany), SatixFy (Israel), Avanti Communications (United Kingdom), Globalstar, Inc. (United States) and Other Active Players.”

Satellite Communication Market Trend Analysis

Increase in the Internet of Things (IoT)

• Strong Internet of Things (IoT), Artificial Intelligence (AI), and autonomous technologies are being more and more utilized in various sectors such as automotive, defense, and healthcare. These technical instruments are used to enhance the effectiveness and efficiency of the new installation or current infrastructure.
• IoT technology allows for the remote management of assets that need to be constantly connected to be monitored and controlled like smart grids, pipelines, and transportation systems. Satellite communication offers an affordable way of establishing connectivity in rural or inaccessible areas.
• Satellites provide worldwide coverage, that allows IoT devices to connect and communicate from anywhere. This is especially crucial in sectors like shipping and aviation, where assets are always in transit and need global connectivity to keep up with real-time situational awareness.
• Numerous IoT devices need low-power connectivity, which makes satellite communication a great option for linking these devices in distant locations and preserving their battery life. Satellites can enable devices like sensors, wearables, and smart meters to have low-power connectivity, needing sustainable power sources. Hence, in this way Increasing Need for High-Speed Networks acts as a driver in the Satellite Communication Market.

Opportunity

Increasing Need for High-Speed Network

• Strong Internet of Things (IoT), Artificial Intelligence (AI), and autonomous technologies are being more and more utilized in various sectors such as automotive, defense, and healthcare. These technical instruments are used to enhance the effectiveness and efficiency of the new installation or current infrastructure.
• The demand for fast internet access is quickly growing in different sectors and types of users, such as customers, companies, and governmental entities. The increasing popularity of activities like video streaming, social media, online gaming, and cloud computing is driving the need for High-Speed Networks.
• The Advancements in satellite technology are allowing for faster data transfer rates and better signal quality, which is important for meeting the growing need for high-speed connectivity.
• There has been a rise in the number of satellite constellations being launched to offer fast internet access. These offer modern technologies like LEO and MEO satellites along with advanced ground infrastructure to provide affordable and fast connectivity. Hence in this way Increasing Need for High-Speed Networks acts as an opportunity in the Satellite Communication Market.

Source: Company Database

• An analysis of internet connections in 220 countries and territories around the world has revealed the rate at which download speeds have been developing over the past few years. As detailed from 2020 to 2023, the global mean internet download speed almost doubled - from 24.8 Mbps in 2020 to 46.8 in the most recent analysis.

Satellite Communication Market Segment Analysis:

Satellite Communication Market Segmented on the basis of Component, Orbit Class, Frequency Band, Application, and End-User.

By Orbit Class, Low Earth Orbit (LEO) Satellites Segment Is Expected to Dominate the Market During the Forecast Period

• These satellites are usually at a height of 500-1500 km above the surface of the earth as they are on the lower orbit, hence they can exhibit a much shorter period that is 95 to 120 minutes, they have high elevation for every spot to provide a high-quality communication on earth.
• A LEO satellite gives a better signal strength and less delay of time compared to a GEO satellite, which makes it better for point-to-point communication, it also requires a much smaller area of coverage which does not need a much larger area. They also can form a satellite constellation, which makes it and maintains a specific arrangement concerning other satellites.
• These satellites offer higher data transmission speeds where their lower altitude allows for faster data transfer compared to satellites in geostationary orbits. This makes it highly suitable for various applications where large amounts of data need to be transmitted quickly, such as high-speed internet connectivity and data-intensive communications.
• The reduced distance between the low earth orbits and ground stations is very less which makes it cost-effective ground stations. Hence in this way, the Low Earth Orbit (LEO) Satellites Segment Is Expected to Dominate the Market.

By End-User, Media Segment Held the Largest Share In 2023

• Satellites provide global coverage, that allows media companies to reach audiences in remote and geographically dispersed areas these broadcasting signals via satellites ensure widespread access to content, overcoming limitations posed by terrestrial infrastructure.
• Satellite communication provides superior signal transmission, which leads to improved audio and visual experiences for viewers or audiences. Satellites are not likely to experience any kind of signal deterioration due to weather conditions or physical obstacles.
• The broadcasting services like Direct-to-Home (DTH) television, Direct Broadcast Satellite (DBS) services, satellite radio, and satellite news allow media companies to efficiently distribute content to a large audience in real-time.
• They provide ample bandwidth capacity, which allows media companies to transmit large volumes of high-definition video, audio, and data simultaneously. Media companies use satellite communication systems to quickly establish connections during natural disasters or emergencies, that allows for the swift sharing of important information. Hence, in this way Media segment may dominate the Satellite Communication Market.

Satellite Communication Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast Period

• The telecommunication infrastructure in North America, especially in the United States, is highly developed and advanced. It possesses a strong network of ground stations, satellite control centers, and telecommunications providers that have significant expertise in satellite communication technology.
• There is a robust network of satellite manufacturers, communication equipment providers, and research institutions in this region, for innovation in the industry. This results in the advancement of satellite technologies, an increase in broadcasting systems, and efficient satellite networks.
• The Government agencies in this region are also collaborating extensively with private companies to encourage innovation, this facilitates the implementation of satellite systems and guarantees the security and dependability of satellite communication networks. This significant governmental support created an ideal atmosphere for the expansion of the satellite communication industry.
• The region also has Several major commercial satellite operators, where these operators offer satellite capacity, connectivity, and communication services to clients around the globe. Their existence in the area is increasing the satellite communication industry and leading to the growth of North America. Hence, in this way, North America is expected to dominate the Satellite Communication Market.

Satellite Communication Market Active Players

• Intelsat (United States)
• Ses S.A. (Luxembourg)
• Eutelsat Communications (France)
• Inmarsat Global Limited (United Kingdom)
• Iridium Communications Inc. (United States)
• Viasat Inc. (United States)
• Thales Group (France)
• Honeywell International Inc. (United States)
• L3harris Technologies, Inc. (United States)
• Cobham Limited (United Kingdom)
• Gilat Satellite Networks (Israel)
• Echostar Corporation (United States)
• Spacex (United States)
• Boeing (United States)
• Northrop Grumman (United States)
• Lockheed Martin (United States)
• Qualcomm Technologies, Inc. (United States)
• Hughes Network Systems (United States)
• Blue Origin (United States)
• Telesat (Canada)
• Leonardo S.P.A. (Italy)
• Ohb Se (Germany)
• Satixfy (Israel)
• Avanti Communications (United Kingdom)
• Globalstar, Inc. (United States) and Other Active Players.

Key Industry Developments in the Satellite Communication Market:

• In February 2024, Merah Putih-2 a telecommunications satellite, which is named as Telkomsat HTS 113BT, was successfully launched atop a SpaceX Falcon9 vehicle from Cape Canaveral in Florida which is designed to strengthen connectivity infrastructure throughout Indonesia, Merah Putih-2 aims to enhance digital businesses by offering superior quality of service to the Indonesian society.
• In January 2024, NewSpace India Limited (NSIL), a Govt. of India company under the Department of Space and the commercial arm of ISRO Announced that it is going to undertake its 2nd Demand-driven communication satellite mission involving GSAT-20 [renamed as GSAT-N2], a high-throughput Ka-band Satellite during 2nd quarter of 2024 it offers Ka-Ka band HTS capacity with 32 beams having Pan-India coverage including A&N and Lakshadweep islands.