Satellite Telecommunications Global Market Opportunities and Strategies to 2033

This report describes and explains the satellite telecommunications market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global satellite telecommunications market reached a value of nearly $41.21 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.95% since 2018. The market is expected to grow from $41.21 billion in 2023 to $60.26 billion in 2028 at a rate of 7.90%. The market is then expected to grow at a CAGR of 7.63% from 2028 and reach $87.06 billion in 2033.

Growth in the historic period resulted from the increase in demand for low earth orbit satellites, increase in investments in satellites and robust government support. Factors that negatively affected growth in the historic period include shortage of skilled labor and stringent compliance and certification requirements.

Going forward, the increasing need for high-speed internet and 5G technology, strong economic growth in emerging markets, growing use of satellite communication in defense applications, increasing number of satellite launches and increasing urban populations will drive the market. Factors that could hinder the growth of the satellite telecommunications market in the future include satellite congestion and orbital debris and budget constraints.

The satellite telecommunications market is segmented by component into receiver, transmitter or transponder, transceiver, antenna and other components. The transceiver market was the largest segment of the satellite telecommunications market segmented by component, accounting for 40.31% or $16.61 billion of the total in 2023. Going forward, the transceiver segment is expected to be the fastest growing segment in the satellite telecommunications market segmented by component, at a CAGR of 8.24% during 2023-2028.

The satellite telecommunications market is segmented by platform into land, maritime and airborne. The land market was the largest segment of the satellite telecommunications market segmented by platform, accounting for 53.14% or $21.89 billion of the total in 2023. Going forward, the airborne segment is expected to be the fastest growing segment in the satellite telecommunications market segmented by platform, at a CAGR of 9.99% during 2023-2028.

The satellite telecommunications market is segmented by application into asset tracking or monitoring, airtime, drones connectivity, data backup and recovery, navigation and monitoring, tele-medicine, broadcasting and other applications. The broadcasting market was the largest segment of the satellite telecommunications market segmented by application, accounting for 21.36% or $8.8 billion of the total in 2023. Going forward, the airtime segment is expected to be the fastest growing segment in the satellite telecommunications market segmented by application, at a CAGR of 10.28% during 2023-2028.

The satellite telecommunications market is segmented by vertical into commercial, government and military, civil and other verticals. The commercial application market was the largest segment of the satellite telecommunications market segmented by vertical, accounting for 81.80% or $33.71 billion of the total in 2023. Going forward, the government and military applications segment is expected to be the fastest growing segment in the satellite telecommunications market segmented by vertical, at a CAGR of 8.07% during 2023-2028.

Asia-Pacific was the largest region in the satellite telecommunications market, accounting for 32.77% or $13.5 billion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the satellite telecommunications market will be South America and the Middle East, where growth will be at CAGRs of 17.12% and 15.88% respectively. These will be followed by Africa and Asia-Pacific, where the markets are expected to grow at CAGRs of 12.39% and 8.17% respectively.

The global satellite telecommunications market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up 6.13% of the total market in 2023. Thales Group was the largest competitor with a 2.27% share of the market, followed by L3Harris Technologies Inc. with 1.48%, Honeywell International Inc. with 0.36%, Viasat Inc. with 0.34%, Al Yah Satellite Communication Company PJSC (Yahsat) with 0.33%, Iridium Communications Inc. with 0.29%, Intelsat S.A. with 0.28%, Société Européenne des Satellites (SES) SA with 0.28%, EchoStar Corporation with 0.26% and Cobham Limited with 0.24%.

The top opportunities in the satellite telecommunications market segmented by component will arise in the transceiver segment, which will gain $8.07 billion of global annual sales by 2028. The top opportunities in the satellite telecommunications market segmented by platform will arise in the airborne segment, which will gain $8.07 billion of global annual sales by 2028. The top opportunities in the satellite telecommunications market segmented by application will arise in the broadcasting segment, which will gain $4.92 billion of global annual sales by 2028. The top opportunities in the satellite telecommunications market segmented by vertical will arise in the commercial application segment, which will gain $15.83 billion of global annual sales by 2028. The satellite telecommunications market size will gain the most in China at $2.89 billion.

Market-trend-based strategies for the satellite telecommunications market include innovative advancements in geostationary satellite technology for enhancing performance and efficiency, strategic partnerships and collaborations among major players, technological advancements to revolutionize communication technologies and artificial intelligence in radio frequencies (RF) to introduce transformative capabilities.

Player-adopted strategies in the satellite telecommunications market include focuses on expanding business capabilities through strategic acquisitions, enhancing business operations through strategic collaborations and partnerships, strengthening business operations through the launch of new products and solutions and strengthening business operations through strategic merger activities.

To take advantage of the opportunities, the analyst recommends the satellite telecommunications companies to focus on advancing satellite technology for enhanced market penetration, focus on advancing satellite communication technologies, focus on integrating ai in satellite telecommunications, focus on transceiver market segment, focus on airborne market segment, expand in emerging markets, focus on strategic partnerships for enhanced market penetration, focus on expanding distribution channels in satellite telecommunications, focus on strategic pricing for satellite telecommunications, continue to use B2B promotions, focus on targeted promotional strategies, focus on strategic partnership marketing, focus on broadcasting and airtime application segments and focus on commercial and government and military segments.