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Thursday, 18 April 2024
Thursday, 22 Jun 2023 12:00 am

Satellite Communication Terminal Market is expected to reach US$ 6.0 billion by 2028

The global satellite communication terminal market share is projected to grow from USD 4.2 billion in 2023 to USD 6.0 billion by 2028.

By The Insight Partners

Rising Adoption of Portable and Small SATCOM Terminals to Provide Growth Opportunities for Satellite Communication Terminal Market During 2023–2028

According to our latest market study on "Satellite Communication Terminal Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Classification, Application, and Satellite Type," the market is expected to grow from US$ 4.2 billion in 2023 to US$ 6.0 billion by 2028; it is estimated to register a CAGR of 7.3% from 2023 to 2028.

A portable satellite communication terminal, also known as a hotspot or satellite communicator, is one of the smallest 2-way SATCOM devices. This satellite communication terminal uses an internal GPS chip for gathering location information. When the SEND option is selected, the location information is sent to a commercial monitoring agency via commercial satellites. The role of the commercial monitoring agency is to forward the information to the respective responding agency. Typically, the purchasers of portable satellite communication devices are involved in activities such as mountain biking, hiking, boating, climbing, and flying. Small SATCOM terminals are also useful for individuals working in remote areas, such as foresters, loggers, fishers, geologists, and wildlife staff.

Satellite Communication Terminal Market – by Geography, 2022

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00026525 Source: The Insight Partners Analysis

Enhanced features such as breadcrumb tracking via Google Earth and sending preprogrammed messages are also offered via portable and small SATCOM terminals. Some of the latest devices that provide 2-way communication via satellite are Spot X, Germin InReach mini, Bivy stick blue, and Zoleo satellite communicator, among others. Iridium started its Global Maritime Distress and Safety System service (GMDSS) in 2020. The launch of new GMDSS terminals facilitates access to a fleet of vessels, which are needed by maritime law for maintaining the L-band safety service. Furthermore, in July 2022, Ultra launched a new portable satcom terminal certified for the Inmarsat Global Xpress Network. This new Ultra GigaSat ULV-950mp terminal is robust, compact, and ultra-light, which allows troops to establish communications in the field of operation and provide mission-critical communications between soldiers in the field. Thus, the rising demand for strong communication in both civil and defense applications is generating the need for portable and small SATCOM terminals. This is expected to create an opportunity for the satellite communication terminal market growth during the forecast period.

The US has a high inclination toward the use of advanced technology. In the US, the need for satellite communication is driven by the growing number of the Internet of Things (IoT) connected and sensing devices in fleet management, autonomous shipping, cyber security applications, and performance computing. Aviation, defense, and aerospace are the domains that contribute majorly to the growth of the US satellite communication terminals market. The US has the highest defense budget in the world. The country’s military expenditure in 2022 was US$ 877 billion, an increase of 0.7% compared to 2021. The increasing military spending creates huge scope for satellite communication terminals in defense applications. In March 2020, the US colocation provider vXchnge deployed a satellite communication terminal in one of its data centers. The satellite communication terminal was provided by Hughes. In December 2021, the US Special Operations Command (SOCOM) decided to procure satellite communication terminals from Tampa Microwave LLC. This procurement included Special Operations Forces Deployable Node–Lite (SDN-L) terminals operating in Ku, X, and Ka SATCOM bands. Furthermore, in February 2023, Cobham Satcom announced that Inmarsat Government had chosen it to supply new generation SAILOR XTR user terminals to the US Navy. Under this contract, Cobham Satcom will replace all existing Ku-band user terminals on MSC vessels with 1-meter SAILOR 1000 XTR and 0.6-meter SAILOR 600 XTR Ka-band VSAT terminals. Thus, the growing use in the defense & aviation sector drives the demand for satellite communication terminals in the country, further fueling the growth of the satellite communication terminal market.

The satellite communication terminal market is segmented into classification, application, and satellite type. Based on classification, the satellite communication terminal market is segmented into C band, X band, S band, Ku band, and Ka band. Based on application, the satellite communication terminal market is categorized into military use and civil use. Based on satellite type, the satellite communication terminal market is segmented into GEO, MEO, and LEO.

Viasat Inc., Airbus, General Dynamics, Thales Group, and L3Harris Technologies are among the key satellite communication terminal market players profiled during the study on the satellite communication terminal market. Several other major satellite communication terminal market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The satellite communication terminal market report provides detailed market insights, which helps the key players strategize their growth.

North America is one of the most significant regions with respect to the adoption of new technologies owing to favorable government policies to boost innovation. The COVID-19 pandemic had an economic impact on several industries, including leisure, travel, and tourism. Aviation, media & entertainment, and telecommunication are some of the major fields that contribute majorly to the growth of the satellite communication terminal market in North America. In April 2020, Nielsen, a U.S. rating agency, estimated that “staying in the home” can lead to a remarkable 60% increase in the amount of content watched. Since many people had to stay at home in the United States, Canada, and Mexico, the amount of viewed online and entertainment content went up drastically. On the other hand, the COVID-19 pandemic resulted in the postponement of the expansion project of Austin-Bergstrom Airport in the US, which negatively impacted the satellite communication terminal market growth. However, post-lockdown, the demand for strong connectivity increased in the region, which led to an increase in the launches of satellites. In 2021, the US did 45 orbital launches, out of which 31 were done by SpaceX. The growing number of satellite launches is raising the demand for satellite communication terminals.

 

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