The SATCOM on the Move Market is Projected to Grow to US$ 42.8 Billion by 2026
Dublin, Ireland, March 1, 2022-- The SATCOM on the move market is projected to grow from USS 17.7 Billion in 2021 to US$ 42.8 Billion by 2026, at a CAGR of 19.3% according to Research and Markets.
SATCOM equipment is an integral part of the communication in commercial and defense industry. The SATCOM on the move market is dominated by a few globally established players such as Thales Group (France), L3Harris Technologies (US), Honeywell International Inc. (US), Hughes Network Systems (US), Viasat, Inc. (US), among others.
Based on platform, airborne SATCOM segment is estimated to lead the SATCOM on the move from 2021 to 2026 and is projected to grow further due to the increasing need for high-definition intelligence, surveillance, and reconnaissance (ISR) videos, and an increasing number of connected commercial aircraft, rising adoption of UAVs and rising number of private aviation companies worldwide supporting market growth.
Based on verticals, commercial segment is expected to lead the SATCOM on the move market from 2021 to 2026. This is due to increasing need for uninterrupted mobile broadband coverage in remote and far-flung regions, streaming information and entertainment, extensive use of small satellites for commercialization and data transferability, technological advancements in transport and logistics network, and increasing demand for broadband connections and VSAT connectivity.
The North American market is projected to contribute the largest share from 2021 to 2026 in the SATCOM equipment market - Based on region, North America is expected to lead the SATCOM on the move market from 2021 to 2026. The US is a lucrative market for SATCOM equipment in the North American region. The US government is increasingly investing in the field of SATCOM to enhance the quality and effectiveness of satellite communication.
Major companies profiled in the report include Thales Group (France), L3Harris Technologies (US), Honeywell International Inc. (US), Hughes Network Systems (US), Viasat, Inc. (US), among others.
For more information click here.
