The Global Satellite Communication Market was $3.46 Bn in 2020, and it is expected to reach $6.39 Bn by 2030. It is eventually growing at a commendable high compound of annual growth rate CAGR of 6.3% between 2020-2030 , as per the latest market research report titled Global Satellite Communication Market– Global industry analysis, size, share, growth, trends, and forecast, 2020-2030.
A satellite is a relay station located in space for the transmission of communication data to the required ground station. In satellite communication, data is the exchange of the space information between two or more entities and which is carried out by a medium or channel. However, the main approach of a satellite is communication. The global satellite communication market has witnessed high growth in the forecast years owing to the growing adoption of the satellite communication equipment in space exploration, telecommunication, and telemetry. Apart from that, for different purposes in the aviation industry, such as air traffic management, airline operation, etc. satellite communication is very much important. The aviation industry, military, communication department are the prime factor for the growth of the global satellite communication market.
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Moreover, the current pandemic of the COVID-19 effect on the Satellite Communication market. The growth rate graph changed slightly due to the pandemic situation. But it is expected that, after the pandemic of COVID-19, the market growth will reach in the expected position in the growth rate graph. Apart from that, the increasing satellite communication industry across the world is anticipated to offer significant opportunities for market growth in the next forecast period of 2020 to 2030.
Geographically, The Satellite Communication Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The report covers a detailed outlook of the company, and it includes the market share and company or industry profiles of key players operating in the global market. Key players in the report include Inmarsat plc (UK), Honeywell International, Inc. (US), L3 Harris Technologies, Inc. (US), Indra Sistemas, S.A. (Spain), General Dynamics Corporation (US), Cobham plc (UK), Viasat, Inc. (US), Iridium Communications Inc. (US), Qualcomm Technologies, Inc. (US), Gilat Satellite Networks (Israel), ASELSAN A.Ş. (Turkey), Intellian Technologies, Inc. (South Korea), Hughes Network Systems LLC (US), ST Engineering Group (Singapore), and Campbell Scientific, Inc. (US) among others.
The Global Satellite Communication Market Has Been Segmented into:
- Satcom Receiver
- Satcom Transmitter/Transponder
- Satcom Transceiver
- Satcom Antenna
- Satcom Modem/Router
- Telecom & IT
- Scientific Research & Development
- Transportation & Logistics
- Media & Entertainment
- Government & Defense
- Homeland Security & Emergency Management
- Public Safety
- Portable Satcom Equipment
- Land Mobile Satcom Equipment
- Maritime Satcom Equipment
- Airborne Satcom Equipment
- Land Fixed Satcom Equipment
- Satcom Vsat
- Satcom-On-The-Move (SOTM)
- Satcom-On-The-Pause (SOTP)
- Satcom Telemetry
- Satcom Automatic Identification System
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/satellite-communication-market-21