The Emergence Of Laser Communication Relay Systems Is A Key Trend In The Optical Satellite Communication Market As Per The Business Research Company's Optical Satellite Communication Global Market Report 2022
TBRC’s market research report covers optical satellite communication market size, optical satellite communication market forecasts, major optical satellite communication companies and their market share, key strategies to undertake, and more.
LONDON, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the optical satellite communication market, the emergence of laser communication relay systems has emerged as a key trend gaining popularity in the optical satellite communication market. Major companies operating in the optical satellite communication sector are focused on developing new advanced systems to sustain their position in the market. For instance, in 2021, NASA, a US-based space agency, launched its new Laser Communications Relay Demonstration (LCRD) system. The LCRD will help the agency with optical communication in space. It will use optical communications instead of radio communications, which will further help increase the bandwidth 10 to 100 times more than radio frequency systems.*Request for a sample of the global **optical satellite communication* *market report*
The global optical satellite communication market is expected to grow from *$8.50 billion in 2021 to $10.46 billion in 2022* at a compound annual growth rate *(CAGR) of 23.1%.* The global optical satellite communication market is expected to reach *$22.55 billion in 2026* at a *CAGR of 21.2%.*
The increase in penetration of smartphones is expected to propel the growth of the optical satellite communication market going forward. Smartphones refer to portable electronic gadgets with features such as the internet and integrated software applications that can perform computer functions. Smartphones depend on optical satellite communication for proper functioning, as this satellite communication helps to provide communication signals in remote areas. For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which is increasing by 25 million every quarter. Therefore, the increase in the penetration of phone users is driving the growth of the optical satellite communication market.
Major players in the optical satellite communication market are Mynaric AG, Analytical Space Inc., ATLAS Space Operations Inc., BridgeSat Inc., Hisdesat Servicios Estrategicos S.A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A, Ball Aerospace & Technologies Corp., Bridgecomm Inc, Clutch Space Systems, Skyloom Global Corp., Hfcl Limited, Aperture Optical Sciences Inc, Honeywell Aerospace, Synspective Inc, Toray International Inc., and Transcelestial Technologies.
The global optical satellite communication market is segmented by component into transmitter, receiver, modulator, demodulator, others; by laser type into yag laser, silex laser, microwave laser, co2 laser, aigaas laser diode; by application into backhaul, surveillance and security, tracking and monitoring, earth observation, enterprise connectivity, research and space exploration, telecommunication, others.
*North America* was the *largest region* in the optical satellite communication market in 2021. The regions covered in the global optical satellite communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Optical Satellite Communication Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide optical satellite communication market overviews, analyze and forecast market size and growth for the whole market, optical satellite communication market segments and geographies, optical satellite communication market trends, optical satellite communication market drivers, optical satellite communication market restraints, optical satellite communication market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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