Satellite Communication Equipment Market Worldwide Projected to Grow by US$16.5 Billion for CAGR of 8.6%

Dublin, Ireland, August 1, 2019 — the satellite communication equipment market worldwide is projected to grow by US$16.5 billion, guided by a compounded growth (CAGR) of 8.6%.

According to Research and Markets, which produced the report, staying on top of trends is essential for decision makers to leverage this emerging opportunity. The report addresses this very need and provides the latest scoop on all major market segments. Maritime, one of the segments analyzed and sized in this study, displays the potential to grow at over 9.9%.

The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market, the report said. Poised to reach over US$11.6 billion by the year 2025, Maritime will bring in healthy gains adding significant momentum to global growth.

While global megatrends sweeping through the market influence the primary direction of growth, regional markets are swayed by more granular locally unique business drivers. Representing the developed world, the United States will maintain a 10.6% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$1.2 billion to the region's size and clout in the next 5 to 6 years.

Over US$1.9 billion worth of projected demand in the region will come from other emerging Eastern European markets. In Japan, Maritime will reach a market size of US$830.5 million by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 7.9% over the next couple of years and add approximately US$2.7 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.

Presented in the report are visually rich graphics and many need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others, Aselsan A.S. (Turkey); AvL Technologies (USA); Campbell Scientific Inc. (USA); Cobham PLC (United Kingdom); General Dynamics Corporation (USA); Gilat Satellite Networks (Israel); Harris Corporation (USA); Holkirk Communications Ltd. (United Kingdom); Hughes Network Systems LLC (USA); Intellian Technologies Inc. (Korea); Iridium Communications, Inc. (USA); L3 Technologies, Inc. (USA); ND SatCom GmbH (Germany); Network Innovations Inc. (Canada); Newtec Cy NV (Belgium); Satcom Global Ltd. (United Kingdom); ViaSat, Inc. (USA).