What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth
Implementation of Advanced Technologies to Boost Market Prospects
The rising implementation of artificial intelligence, data analytics, and the cloud computing in satellite communication will augur well for the market. For instance, These technologies assist in improving flight operations and play a major role in military for combat operations and battlefield management.
Furthermore, the utilization of these technologies for real-time data in tracking and monitoring purposes will support healthy growth of the market in the forthcoming years. However, the cyber-security threats and concerns will pose as a damaging factor for the market growth. The vulnerabilities in launch systems, communications, tracking and command, telemetry, and mission completion will restrict the expansion of the market in the foreseeable future.
Rising RandD Investments by Key Players to Stimulate Sales Openings
Thesatellitecommunication industry trendsis dominated by Inmarsat plc., Honeywell International, Inc., and The Boeing Company among others. The major players in market are focused on expanding their product portfolio of SATCOM. The increasing RandD for the development of SATCOM solutions will enable healthy business in the foreseeable future. The adoption of strategic acquisition and mergers by eminent layers will boost the antenna for satellite communication market prospects during the forecast period.In addition, the rising technological advancement and product launches will spur market competition in the forthcoming year.
KEY INDUSTRY DEVELOPMENTS:
In March 2020- CACI International Inc.had a contract with the U.S. Navy worth USD 180.3 million. In this contract, the company will provide satellite communications systems and network support services for the Navy.
In March 2020- Peraton received a contract of value USD 218 million to provide commercial satellite communications services for the U.S. Africa Command. This contract will establish a strong partnership with the government of the U.S.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Global Satellite Communication Market (SATCOM) Report Analysis 2019-2026: Top Key players Inmarsat plc, Honeywell International, Inc., The Boeing Company, L3 Harris Technologies, Inc., Indra Sistemas, S.A.
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