Jun 21, 2021 (The Expresswire) -- The global satellite communication (satcom) market sizeis predicted to reach USD 41.33 billion by 2026. The increasing integration of IoT for various application in the aviation industry such as aircraft connectivity, airlines, air traffic management, and MRO management will boost the market growth in the forthcoming years. Moreover, the growing application of SATCOM in radio broadcasting and voice communications, internet application and navigations, remote sensing, water monitoring, and weather monitoring applications will create growth opportunities for the market in the forthcoming years, mentioned in a report, titled “ Satellite Communication (SATCOM) Market Size, Share and Industry Analysis, By Component (Receiver, Transmitter/Transponder, Transceiver, Antenna, Modem/Router, and Others), By Technology (Very Small Aperture Terminal (VSAT), SATCOM-On-The-Move (SOTM), SATCOM-On-The-Pause (SOTP), SATCOM Telemetry, and SATCOM Automatic Identification System), By Platform (Commercial and Government and Defense), By End Use (Portable equipment, Land equipment, Maritime equipment, and Airborne equipment), and Regional Forecast, 2019-2026 ” the market size stood at USD 22.61 billion and is predicted to exhibit a CAGR of 7.73% between 2019 to 2026.
An Overview of the Impact of COVID-19 on this Market:
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The Report List the Key Players in the Satellite Communication (SATCOM) Market
Honeywell International, Inc.
The Boeing Company
L3 Harris Technologies, Inc.
Indra Sistemas, S.A.
General Dynamics Corporation
Iridium Communications Inc.
Qualcomm Technologies, Inc.
US Army Milsatcom Contract Awarded to Comtech will Enable Speedy Expansion
Comtech TelecommunicationsCorp., a global leader in innovative products, systems, services, and solutions received a contract to deliver global field support services for military satellite communication terminals around the world. The deal involves an initial transaction of $22.2 million with a $98.6 million ceiling, which will be fulfilled in twelve months. The contract can be an essential influence in accelerating the satellite communication market growth in the foreseeable future owing to the capabilities of the mission critical ground communicate with satellite terminals, which offers inter and intra-theater network communications with worldwide reach back capability.
In addition, the contract comprises of engineering and technical skills to support these terminals, including logisticians, help desk, network engineering, security engineering, Radio Frequency (RF) and satellite system engineering and support.
In addition, the growing contracts and deals among companies and defense organizations will promote the SATCOM market trends in the forthcoming years. CACI International Inc., an American multinational professional services and information technology company headquartered in Arlington, Virginia bagged a contract worth USD 180.3 million from the U.S. Navy. The contract coversglobal satellite communicationssystems and network support services for the Navy
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Competitive Landscape :
Contract for Satellite Ground Systems by Navy to Favor Growth
General Dynamics Corporation, an American aerospace and defense corporation received a contract from Navyto build the ground system for the Mobile User Objective System. The $732 million contract awarded by Navy can be an exponential factor in boosting the satellite communication (SATCOM) market growth during the forecast period owing to the Navy’s next generation narrowband satellite communications system, providing secure voice, video and data communications to military users all over the globe. According to General Dynamics, just one MUOS satellite can provide four times the capacity of the entire legacy system. Furthermore, the vice president and general manager for General Dynamics’ space and intelligence systems, Manny Mora, said in a statement, “MUOS will provide our warfighters with the ability to communicate securely, anywhere, anytime, with voice clarity and data transmission speed similar to using a civilian cell phone, this capability delivers a whole new level of connectivity for troops in the field.” In addition, the growing seaborne trade across countries will spur opportunities for the market in the forthcoming years. Nonetheless, the rising focus on autonomous and connected ships by numerous nations will fuel demand for satellite communication, which, in turn, will aid the global satellite communications market.
Regional Analysis :
Surge in Telecommunication Industry to Stimulate Growth in Asia Pacific
The market in North America stood at 13.11 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the growing military expenditure. The presence of key manufacturers such as General Dynamics Corporation, L3 Harris Corporation, Honeywell International, Inc., Hughes Network Systems LLC, and others will aid healthy growth of the market during the forecast period. Asia Pacific is likely to witness high demand for SATCOM owing to the surge in telecommunication, aviation, and defense sector. Europe is expected to accounted for a major share in the market due to the growing modernization in the region. Nonetheless, Latin America is expected to grow rapidly in the foreseeable future owing to the reinforcement of military communication infrastructure.
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