Satellite Telecommunications Global Market Report 2023
Major players in the satellite telecommunications market are Société Européenne des Satellites (SES S.A), Viasat Inc., Telesat, EchoStar Corporation, L3Harris Technologies Inc., SKY Perfect JSAT Holdings Inc.
New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Satellite Telecommunications Global Market Report 2023" - https://www.reportlinker.com/p06464051/?utm_source=GNW
, Gilat Satellite Networks, Cobham SATCOM, Inmarsat Global Limited, Intelsat, Thuraya Telecommunications Company, Honeywell International Inc., Iridium Communications Inc., General Dynamics Corporation, and Qualcomm Technologies Inc.
The global satellite telecommunications market is expected to grow from $39.78 billion in 2022 to $41.70 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The satellite telecommunications market is expected to reach $47.77 billion in 2027 at a CAGR of 3.5%.
The satellite telecommunication market consists of revenues earned by entities by providing telecommunications, broadcasting, and data communications.The market value includes the value of related goods sold by the service provider or included within the service offering.
The satellite telecommunication market also includes sales of RF receivers, splitters, and switchover units which are used in providing satellite telecommunication services.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.
Satellite telecommunications refers to the use of man-made satellites to establish communication linkages between various locations on Earth. It is used for videoconference systems, telemedicine, and tele-education.
North America was the largest region in the satellite telecommunications market in 2022. The regions covered in satellite telecommunication report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of satellite telecommunications are the receiver, transmitter or transponder, transceiver, antenna, and others.A satellite receiver refers to a receiver that is attached to a communications satellite.
The various platforms include portable satcom equipment, land satcom equipment, maritime satcom equipment, and airborne satcom equipment. These are used in various applications such as asset tracking or monitoring, airtime, drones connectivity, data backup and recovery, navigation and monitoring, telemedicine, broadcasting, and others, and by various verticals such as energy and utility, government and defense, transport and cargo, maritime, mining and oil and gas, agriculture, communication companies, corporates or enterprises, media and broadcasting, others.
The increase in the demand for small satellites for earth observation services is expected to boost the growth of the satellite telecommunication market going forward.Small satellites refer to satellites that weigh less than a kilo (2,204 pounds).
Small satellites are used to advertise conventional satellite applications in data communications, earth exploration, space research, and many other fields; hence, the increase in the demand for small satellites for earth observation services is expected to boost the satellite telecommunication market.For instance, in 2020, according to a report published by Satellite Applications Catapult Limited, a UK-based technology and innovation center focused on space satellites, the total number of 1163 small satellites launched in 2020, which is more than triple the previous record of 375 spacecraft established in 2019.
This is the greatest figure from any quarter so far. Therefore, the increase in the demand for small satellites for earth observation services is driving the growth of the satellite telecommunication market.
Technological advancement is the key trend gaining popularity in the satellite telecommunication market.Major companies operating in the satellite telecommunication market are focusing on developing new technologies.
For instance, in January 2023, Qualcomm Technologies, Inc., a US-based manufacturer of digital wireless telecommunication products and services, launched Snapdragon Satellite. This is the world’s first satellite-based two-way messaging solution for luxury smartphones. Snapdragon Satellite is powered by Snapdragon 5G Modem-RF Systems and supported by the Iridium® satellite constellation, which is currently fully operational and is anticipated to offer worldwide access through mobile messaging from all over the world.
In October 2022, Marlink, a US-based maritime satellite communications company, acquired the satellite communications business of Hellenic Radio Services SA for an undisclosed amount.The acquisition greatly increased Marlink’s market share and position in the crucial Greek market and allowed the business to further develop its service and support capabilities to satisfy the expanding needs of Greek ship-owners.
Hellenic Radio Services SA is a Greece-based provider, manufacturer, and distributor of satellite communications products and services.
The countries covered in the satellite telecommunication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The satellite telecommunications market research report is one of a series of new reports that provides satellite telecommunications market statistics, including satellite telecommunications industry global market size, regional shares, competitors with a satellite telecommunications market share, detailed satellite telecommunications market segments, market trends, and opportunities, and any further data you may need to thrive in the satellite telecommunications industry. this satellite telecommunications market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464051/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001