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Satellite Communication (SATCOM) Market Size

Report ID: GMI12216
Published Date: Nov 2024
Report Format: PDF

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Satellite Communication (SATCOM) Market Size

The global satellite communication market was valued at USD 23.1 billion in 2024 and is estimated to grow at a CAGR of 12.3% from 2025 to 2034. The rising need for internet connectivity drives SATCOM market growth, especially in remote areas lacking traditional infrastructure.

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As digital connectivity becomes crucial for various aspects of life, the gap between urban and rural internet access widens. Satellite communication helps bridge this divide by offering broadband services to almost any location, enabling wider participation in the digital economy. Global initiatives promoting internet access, economic growth, and social inclusion further boost demand. This trend spurs investment in satellite technology as a flexible solution for connecting underserved regions.

The SATCOM industry is evolving, blending advanced communication technology with crucial government and defense operations. There's rising demand for secure, high-bandwidth, resilient connectivity, especially in defense and maritime sectors. This drives the creation of global, reliable satellite systems. User terminals are getting smarter, handling more data, boosting security, and working smoothly with current networks. New SATCOM solutions are becoming vital for critical missions, focusing on tough, mobile, and adaptable communication systems. The industry's future is shaped by technological advancement, partnerships, and investments, aiming to meet the growing need for secure, flexible satellite communication services.

In February 2023, Inmarsat Government chose Cobham Satcom to supply new SAILOR XTR user terminals. Cobham Satcom, which provides radio and satellite communication solutions for ships and land vehicles worldwide, will deliver these terminals to support the U.S. Navy Military Sealift Command's (MSC) Next Generation Wideband service. These terminals aim to offer fast, reliable, and secure global satellite communication for the Navy's needs.

Satellite Communication Market Report Attributes
Report Attribute	Details
Base Year:	2024
Satellite Communication Market Size in 2024:	USD 23.1 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	12.3%
2025 – 2034 Value Projection:	USD 71.5 Billion
Historical Data for:	2021 – 2024
No. of Pages:	220
Tables, Charts & Figures:	360
Segments covered:	Solutions, platform, frequency, industry vertical & region
Growth Drivers:	Expansion of internet connectivity demand Development of small satellite constellations to enhance communication system Increase demand for connectivity in remote areas Rising demand for IoT and M2M connectivity Growing integration with 5G Networks
Pitfalls & Challenges:	High costs and long development cycles Space debris and orbital congestion

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Authors: Suraj Gujar , Partha Paul

Frequently Asked Questions (FAQ) :

The global satellite communication industry was valued at USD 23.1 billion in 2024 and is estimated to grow at a 12.3% CAGR from 2025 to 2034, driven by the rising need for internet connectivity in remote areas.

The services segment is expected to register a CAGR of over 12.5% during the forecast period, fueled by increasing demand across various sectors including telecommunications, defense, maritime, aviation, and government.

North America dominated the SATCOM market in 2023 with a 48.5% share, led by the U.S. market's adoption of fully managed satellite communication services, especially in defense.

Key players in the SATCOM industry include ASELSAN, AvL Technologies, Cobham Satcom, EchoStar Mobile, General Dynamics Mission Systems, Gilat Satellite Networks, Holkirk Communications, Honeywell, Intellian Technologies, and Iridium Communications.