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The global satellite communication market reached a value of nearly $53,083.8 million in 2022, having grown at a compound annual growth rate (CAGR) of 6.5% since 2017.
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Satellite Communication Global Market Opportunities And Strategies To 2032 Market Size, Trends and Global Forecast 2023-2032 © The Business Research Company. All Rights Reserved.
Satellite Communication Market Segments The Business Research Company segments it’s Satellite Communication market report as: Transponder; Transceiver; Antenna; Receiver; Other Components By Component SATCOM Automatic Identification System; SATCOM VSAT; SATCOM On The-Move (SOTM); SATCOM On The Pause (SOTP); SATCOM Telemetry By Technology Asset Tracking/Monitoring; Airtime; Data Backup And Recovery; Navigation And Monitoring; Broadcasting; Drones’ Connectivity; Tele-Medicine; Other Applications By Application Government And Military Applications; Civil Satellite Communications; Commercial Application; Other Verticalsser Industries By Vertical © The Business Research Company. All Rights Reserved.
Satellite Communication Market Statistics The global satellite communication market reached a value of nearly $53,083.8 million in 2022, having grown at a compound annual growth rate (CAGR) of 6.5% since 2017. The market is expected to grow from $53,083.8 million in 2022 to $83,680.3 million in 2027 at a rate of 9.5%. The market is then expected to grow at a CAGR of 11.4% from 2027 and reach $143,872.3 million in 2032. Global Satellite Communication Market Size Forecast To 2032 1,43,872.30 83,680.30 53,083.80 2022 2023 2027 Click Here To Get A Sample Report © The Business Research Company. All Rights Reserved.
Key Market Drivers And Trends Drivers The increasing adoption of low earth orbit satellites in various sectors will drive the satellite communication market in the forecast period. Trends To strengthen their market position, companies in the satellite communication market are focusing on implementing artificial intelligence (AI) in radio frequencies (RF). Region North America was the largest region in the satellite communication market, accounting for 31.3% of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the satellite communication market will be Asia Pacific and Middle East where growth will be at CAGRs of 11.2% and 10.1% respectively. © The Business Research Company. All Rights Reserved.
Key Market Players Major players in the Satellite Communication market are: ▪ Thales Group ▪ Honeywell International Inc ▪ L3Harris Technologies, Inc. ▪ Viasat, Inc. ▪ Cobham Limited ▪ And more. Get More Information On The Satellite Communication Market Report © The Business Research Company. All Rights Reserved.
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