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Classified in: Science and technology, Covid-19 virus
Subject: MRR

Satellite Communication System Market to Reach $61.5 Billion, Globally, by 2031 at 9.5% CAGR: Allied Market Research

Satellite communication systems have gained popularity in recent years due to their ability to provide communication services to remote and underserved areas. Additionally, increasing demand for global connectivity and growing adoption of the Internet of Things (IoT) devices have also contributed to the increased use of satellite communication systems.

PORTLAND, Ore., Feb. 2, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Satellite Communication System Market by Satellite Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), and Geostationary Orbit (GEO)), Component (Equipment, and Services) and End User (Maritime, Aerospace And Defense, Industrial, Government, Transportation And Logistics, Media, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global satellite communication system market was valued at $25.8 billion in 2021, and is projected to reach $61.5 billion by 2031, registering a CAGR of 9.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

The increase in Internet of Things (IoT) and autonomous systems, rise in demand for military and defense satellite communication solutions, and increase in adoption of satellite communication system in online streaming services, radio, and TV broadcast across the world drive the growth of the global satellite communication system market. On the other hand, interference in satellite data transmission restrains the growth to some extent. However, high-end technological advancements in satellite missions have paved the way for lucrative opportunities in the industry.

Covid-19 scenario-

The Medium Earth Orbit (MEO) segment to maintain its dominance during the forecast period-

By satellite orbit, the Medium Earth Orbit (MEO) segment garnered the highest share during the forecast period. Medium Earth Orbit (MEO) satellites orbit at an altitude of around 8,000 to 12,000 kilometers, which is higher than Low Earth Orbit (LEO) satellites, but lower than Geostationary Earth Orbit (GEO) satellites. This orbital altitude provides a balance of coverage and capacity, making it well-suited for a wide range of applications, including telecommunications, navigation, and earth observation. Medium Earth Orbit (MEO) satellites have a relatively short signal delay, which is important for applications such as mobile communications and satellite-based navigation systems. They also have a large field of view, which is useful for earth observation and remote sensing applications.

The services segment to maintain its dominance during the forecast period-

By component, the services segment accounted for highest market revenue in 2021, and is projected to retain the lion's share by 2031. The services segment includes a wide range of activities such as satellite-based communication, navigation, and remote sensing services, which are critical for a wide range of industries and applications. These services are essential for industries such as telecommunications, transportation, and agriculture, among others. The increasing demand for high-speed internet and streaming services is expected to drive growth in the services segment.

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Media and Government segment to maintain its dominance during the forecast period.

By end user, media and government segment accounted for highest market revenue in 2021 and is projected to retain its position by 2031. The media and government segment includes a wide range of activities such as satellite-based broadcasting, surveillance, and remote sensing services, which are critical for a wide range of applications. These services are essential for industries such as television and radio broadcasting, defense, and intelligence. The increasing demand for high-definition television and streaming services is expected to drive growth in the media and government segment.

Europe garnered the major share in 2021-

By region, Europe contributed the highest share in 2021. Increase in cooperation among civil, defense, and space industries in the European region is set to boost the growth of the satellite communication system market. The rise in demand for high-speed internet across Europe also increases the adoption of satellite communication services. Asia-Pacific, on the other hand, would portray the fastest CAGR of 10.97% during the forecast period. This is due to the rise in the use of satellite communication systems in Asia-Pacific regional market over the forecast period is attributable to the rising use of satellite antennas in the communications, IT, aerospace, and automotive industries.

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Leading Market Players-

The report analyzes these key players of the global satellite communication system market. These players have adopted various strategies such as product launch, acquisition, innovation, partnership, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Key Benefits for Stakeholders:

Satellite Communication System Market Key Segments:


Satellite Orbit

End User

By Region

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About Us: 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 


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