Satellite Communication Terminal Markets, 2021-2022 & 2028: Growing Requirement for Customized SATCOM Solutions & Rising Adoption of Portable and Small SATCOM Terminals - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Satellite Communication Terminal Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Classification and Application" report has been added to ResearchAndMarkets.com's offering.

The satellite communication terminal market is expected to grow from US$ 3,877.1 million in 2021 to US$ 6,030.7 million by 2028; it is estimated to grow at a CAGR of 6.5% during 2021-2028.

The European satellite communication terminal market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The region is characterized by high GDP, high GDP per capita, high standard of living, favorable economic policies, vast industrialization, a rise in the aging population, and a positive outlook for the adoption of new technology.

Western European countries heavily emphasize the use of advanced technologies for satellite communication terminals compared to Eastern European countries. Telecommunications, enterprise & broadband, land mobility, remote sensing & earth observation, aviation, and aerospace are some domains that contribute to the growth of the satellite communication terminal market in the region.

The service providers in Europe understand the increasing relevance of the 6 GHz spectrum. The region is set to target the 6 GHz band as it is crucial for future capacity needs and growth. The telecommunication industry involves the significant use of satellite communication terminals.

As per the 2021 Europol report on the Terrorism situation in the European Union (EU), the region witnessed 57 terrorist attack attempts in 2020. Due to such a high count of attack attempts, the requirement for SATCOM-on-the-move solutions for unmanned ground vehicles is anticipated to increase notably.

The X Band segment represented the largest share of the overall market in 2020. In terms of application, the satellite communication terminal market is segmented into military use and civil use. In 2020, the military use segment accounted for a substantial market share. In 2020, North America accounted for a significant share in the global market.

In the South America region, Brazil is the worst affected country due to the outbreak of COVID-19 followed by Colombia, Argentina, and Peru. The government authorities of various countries in South America are taking several initiatives to protect people and to contain COVID-19's spread in the region through respective limitations and restrictions.

The construction of new airports and development in the aerospace sector was driving the demand for respective satellite communication terminals before the COVID-19 pandemic began. However, disruption of the supply chain and scarcity of raw materials led to delay in the scheduled deliveries.

Due to the growing telecommunication sector, and media & entertainment industry, demand for respective satellite communication terminal was there during the pandemic. But due to the challenges in the production process, the supply of satellite communication terminals was hampered considerably.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global satellite communication terminal market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global satellite communication terminal market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Key Market Dynamics

Market Drivers

• Increasing Demand for Defense Satellite Communication Solutions
• Growing Need for Uninterrupted Connectivity

Market Restraints

• High Costs of Satellite Communication Terminals

Market Opportunities

• Rising Adoption of Portable and Small SATCOM Terminals

Future Trends

• Growing Requirement for Customized SATCOM Solutions

Company Profiles

• Airbus
• AVL Technologies
• Collins Aerospace
• General Dynamics Mission Systems, Inc.
• Honeywell International Inc.
• L3Harris Technologies, Inc.
• NEC Corporation
• ST Engineering
• Thales Group
• Viasat, Inc.

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