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Global Satellite Communication Market 2021 Size, Share, Growth, Trends and Forecast, Business Opportunities and Future Investments

Satellite Communication

The report focuses on the favorable Global “Satellite Communication market” and its expanding nature. The Satellite Communication market report provides a comprehensive study of the market segmentation, service providers, stockholders, sponsors, and important market players, size, and share, market dynamics such as the growth drivers, restraints, challenges, and opportunities.

Market Overview:

  • The satellite communication market in the defense sector is expected to register a CAGR of over 6.90% during the forecast period (2019 – 2024). With the penetration of IoT in military operations, it is significantly impacting military intelligence, operations, and surveillance.
  • – Further, technological advancement in miniaturization, connected technology, robust network environment, low power computing, radio frequency identification, and M2M communication are also expected to fuel the satellite communication market.
  • – In addition to that, the governments of several countries are taking numerous initiatives to facilitate the manufacturing of military communication systems and solutions, which is another strong factor that will support the growth of the military communications market. Governments of countries like China, US, UK, Indonesia, etc., play a vital role in promoting maritime security since the maritime industry adds to the regions’ economic growth.
  • – For example, in April 2018, ORBCOMM and Maerospace extended AIS contract with the Government of Canada. Through its Canadian subsidiary SkyWave, ORBCOMM will provide satellite Automatic Identification System (AIS) data used for ship tracking and other maritime navigational and safety efforts to the Government of Canada for monitoring Canadian and global marine traffic.
  • – However, the high cost of manufacturing as well as of components of satellite communication equipment is likely to hinder the satellite communication market over the forecast period.

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    Key Manufacturers

  • Baker Hughes Incorporated
  • Globecomm Systems Inc.
  • Inmarsat Communications
  • Iridium Communications Inc.
  • KVH Industries, Inc.
  • Orbcomm Inc.
  • Rogers Communications, Inc
  • SpeedCast International Limited
  • Thuraya Telecommunications Company
  • ViaSat Inc
  • VT iDirect, Inc

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Satellite Communication market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Satellite Communication market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Satellite Communication market have also been involved in the study.

    Scope of the Report:

  • The satellite communications sector is quite diverse and complex and is heavily influenced by technological change, regulation, and both government and private-sector investment decisions. Common maritime satellite communication services include voice calling, Internet ,access for oceanic weather, navigation and fishing. In addition, demand for military communication systems is also constantly on the rise in disaster relief centers, to deliver a quick response. From a geographical standpoint, North America is expected to hold the largest share in the global satellite communication market in defense sector owing to extensive usage of the technology.

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    TOC of Satellite Communication Market Report Covered:

    Introduction, Research Methodology, Executive Summary, Key Inferences, Market Overview, Satellite Communication market Dynamics, Market Segmentation, Competitive Landscape, Key Players, Future of the Market, and continued…

    Reasons to Purchase Satellite Communication Market Report Covered:

    • The report analyses how Satellite Communication market will grow in the future.
    • Analyzing various perspectives of the Satellite Communication market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market and regions that are expected to witness the fastest growth during the forecast period
    • Recognize the new developments, Satellite Communication market shares and policies employed by the major market players.
    • Competitive landscape including the Satellite Communication market share of major players along with the key policies accepted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major Satellite Communication market players

    Key Market Trends:

    Government Initiatives to Drive the Market Growth

    – Artificial Intelligence is becoming a part of modern warfare. Implementation of AI in Satellite Communication to be a major trend in the coming decade. Further, the governments of various countries are investing in communication technology such as navigation systems, vessel tracking, etc.
    – Military satellites are a measure of the nation’s military strength, operability, and the ability to attack or defend itself. These satellites give the military real-time data of movement of troops and regarding the arsenal at enemy borders.
    – Nowadays, nanosatellites are coming into the picture because of their usability. Nanosatellites are defined as satellites with a mass less than or equal to 10 kg. Moreover, recent advances in optics and communication technologies have improved the smaller spacecraft’ capabilities for remote sensing and imaging. Heightened government interest coupled with increasing maturity of the technology is attracting companies to invest in this sector.
    – For instance, the National Aeronautic Space Administration (NASA) budget for the fiscal year 2020 is USD 21 billion. It’s a 1.4% increase over by 2019. NASA will take a more active role in commercializing new space technologies. Many of its new initiatives have military and business applications.

    Asia-Pacific is Projected to Have the Highest Growth Rate

    – China and are largely responsible for the rapid growth of satellite communication market in the defense sector in the Asia-Pacific region. The governments of these countries have adopted conscious strategies to make maritime, aeronautical, and military sectors more secure. Appropriate communication channels make a big part of this strategy, which will inevitably fuel the demand for mobile satellite services.
    – Also, China and India, are the world’s two emerging economic powers, are demonstrating a sustained increase in their military expenditure and contribute to the growth in world military spending. Further, joint military activities are increasing among the Asia-Pacific regions. These activities are creating a market for satellite communication market in the defense sector.
    – For example, the government of allocated Rs 4,04,365 crore (the US $62.8 billion) for the Ministry of Defence (MoD). The governments are increasing their military budgets as well.

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    Study objectives of Satellite Communication Market Report:

    • To provide a detailed analysis of the market structure along with the Satellite Communication market forecast of various segments and sub-segments of the Satellite Communication market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Satellite Communication market trends that influence the global Satellite Communication market

    Detailed TOC of Satellite Communication Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increased Sea-borne Threats and Ambiguous Maritime Security Policies
    4.3.2 Rise in the Demand for Merchant Shipping
    4.4 Market Restraints
    4.4.1 Lack of Awareness About Advanced Satellite Service Market
    4.4.2 Reliance on High-cost Satellite Equipment
    4.5 Value Chain / Supply Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Detectors
    5.1.2 Mobile Satellite Services (MSS)
    5.1.3 Surveillance and Tracking
    5.1.4 Very Small Aperture Terminal (VSAT)
    5.2 By End User
    5.2.1 Coastal Security Services
    5.2.2 Government
    5.2.3 Merchant Navy
    5.2.4 Naval Forces
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Baker Hughes Incorporated
    6.1.2 Globecomm Systems Inc.
    6.1.3 Inmarsat Communications
    6.1.4 Iridium Communications Inc.
    6.1.5 KVH Industries, Inc.
    6.1.6 Orbcomm Inc.
    6.1.7 Rogers Communications, Inc
    6.1.8 SpeedCast International Limited
    6.1.9 Thuraya Telecommunications Company
    6.1.10 ViaSat Inc
    6.1.11 VT iDirect, Inc

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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