Satellite Communication Service and Equipment Global Market Report 2024

The satellite communication service and equipment market size has grown exponentially in recent years. It will grow from $26.9 billion in 2023 to $32.59 billion in 2024 at a compound annual growth rate (CAGR) of 21%. The increase in the historical period can be credited to the growing demand for space data-as-a-service, investments in satellite communications for national security, the need for dependable communication networks in remote regions, the introduction of low earth orbit (LEO) satellites and constellations, and collaborative efforts between the public and private sectors to capitalize on opportunities in the space industry.

The satellite communication service and equipment market size is expected to see rapid growth in the next few years. It will grow to $65.03 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The anticipated growth in the forecast period can be ascribed to the expansion of cellular networks, increased adoption of IoT devices, the development of high-throughput satellites (HTS), a rising need for high-speed communication, the flourishing commercial space industry, and the demand for satellite technology in military and government applications. Noteworthy trends expected in the forecast period include ongoing technological advancements, a higher demand for more efficient satellites, the surge in edge computing, increased investments in artificial intelligence, and the introduction of digital technologies.

The satellite communication service and equipment market is anticipated to experience growth due to the increasing deployment of satellites. Satellite deployment involves placing satellites into orbit around the Earth or other celestial bodies. The demand for satellite deployments arises from the necessity for global connectivity, remote sensing capabilities, and national security. This facilitates communication, observation, navigation, and data transmission across extensive distances and challenging terrains. Satellite communication services and equipment are utilized in satellite deployments to establish reliable data transmission links between ground stations and orbiting satellites. These links enable crucial tasks such as telemetry, tracking, and command functions essential for mission control and data retrieval. In April 2023, the United Nations Office for Outer Space Affairs reported a significant increase of 11.84%, reaching 8,261 individual satellites orbiting the Earth compared to April 2021, indicating the escalating demand for satellite deployments and subsequently propelling the growth of the satellite communication service and equipment market. By January 2022, a total of 12,293 space objects had been launched into space.

Key players in the satellite communication service and equipment market are actively pursuing technological innovation, with a focus on LTE-based satellite broadband devices. These devices leverage LTE (Long-Term Evolution) technology to connect to the internet via satellite communication. Combining the speed and reliability of LTE cellular networks with the global coverage of satellite connections, these devices play a crucial role in enabling mission-critical communications during both natural disasters and normal operations. For instance, in January 2024, Sasken Technologies Limited, a telecommunications company based in India, introduced an LTE-based satellite broadband device tailored for critical communications needs. This innovative product, providing services including emergency communication support, ensures reliable satellite communications during natural disasters such as tsunamis. The integration of LTE over mobile satellite equipment brings standard 3GPP services over satellite infrastructure, revolutionizing traditional communication methods and expanding connectivity options for critical operations.

In May 2023, Viasat Inc., a US-based internet service provider and commercial company, acquired Inmarsat Global Limited. This strategic acquisition is aimed at enhancing Viasat's innovation by providing improved capabilities in satellite communication equipment and services. Inmarsat Global Limited, a UK-based satellite telecommunications company specializing in satellite voice and data services, adds value to Viasat's offerings in terms of speed, flexibility, reliability, coverage, and security.

Major companies operating in the satellite communication service and equipment market are Raytheon Technologies Corporation, Lockheed Martin Corporation, Airbus SE, QualComm Technologies Inc., General Dynamics Corporation, Honeywell International Inc., Safran SA, Texas Instruments Inc., Thales SA, L3Harris Technologies Inc., Bharti Airtel Limited, STMicroelectronics N.V., Singapore Technologies Engineering Ltd., ViaSat Inc., SES S.A., Tata Communications Ltd., Hughes Network Systems LLC, Eutelsat Communications S.A., Sky Perfect JSAT Holdings Inc., Furuno Electric Co. Ltd., Comtech Telecommunications Corp., China Satellite Communications Co. Ltd., Gilat Satellite Networks Ltd., APT Satellite Holdings Limited, Tejas Networks Limited, Global Invacom Group Limited, Space Star Technology Co. Ltd., AsiaSat Satellite Telecommunications Ltd., Synertone Communication Corporation, Avanti Communications Group plc.

North America was the largest region in the satellite communication service and equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite communication service and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the satellite communication service and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Satellite communication services and equipment encompass the technology, infrastructure, and services facilitating communication through Earth-orbiting satellites. These systems are instrumental in delivering a range of communication services, such as broadcasting, internet connectivity, telecommunication, and data transmission. Long-distance communication in remote areas, such as ships at sea, aircraft, and locations with limited terrestrial infrastructure, is made possible by this technology.

The primary categories of satellite communication services and equipment include satellite communication services and satellite communication equipment. Satellite communication services involve the sending and receiving of data, voice, and video signals via Earth-orbiting satellites. These satellites are utilized across various sectors, including broadcasting, telecommunications, aviation, maritime, and emergency response. The frequency bands encompass c band, l and s band, x band, ka band, ku band, very high frequency (VHF) and ultra-high frequency (UHF) bands, extremely high frequency (EHF) and super high frequency (SHF) bands, multi band, and q band. These bands find applications in diverse sectors, such as government and military, civil satellite communications, commercial, and others.

The satellite communication service and equipment research report is one of a series of new reports that provides satellite communication service and equipment market statistics, including the satellite communication service and equipment industry's global market size, regional shares, competitors with an satellite communication service and equipment market share, detailed satellite communication service and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the satellite communication service and equipment industry. This satellite communication service and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The satellite communication service and equipment market consist of revenues earned by entities through customer subscription fees, data and messaging services, television broadcasting services, and internet and broadband services. The market value includes the value of related goods sold by the service provider or included within the service offering. The satellite communication service and equipment market also includes sales of satellite phones, modems, antennas, and transponders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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