According to a new report published by Allied Market Research titled, “Satellite Services Market by Type, and End-User Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the satellite services market accounted for revenue of $126.5 billion in 2018 and is anticipated to generate $144.5 billion by 2026. The market is projected to experience growth at a CAGR of 2.2% from 2019 to 2026.
The major factors that propel the satellite services market include increase in demand for earth-observing application from developed regions such as North America, and Europe. Furthermore, there is high demand for satellite services from the commercial aviation sector for air traffic management.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/6075
The satellite services market is segmented based on type, end-user industry, and region. By type, the market is classified into consumer services, fixed satellite services, mobile satellite services, remote sensing, and space flight management services.
The growing demand for satellite services, driven by the need for advanced communication, Earth observation, and national security, is driving the global demand. As digital infrastructure and defense priorities increase, innovation in satellite technologies has become crucial. For example, in February 2023, SES signed an agreement with the European Union to enhance secure satellite communications through its O3b mPOWER constellation. In addition, Telesat is working on expanding its Lightspeed constellation to provide high-capacity, low-latency services, responding to increasing global requirements for connectivity and secure data transmission in both civilian and defense sectors.
Furthermore, surge in reliance on satellite communication for government and military applications is fueling the market growth, as these sectors require secure, reliable connectivity for defense operations and disaster management. Rise in demand for content broadcasting, such as TV and radio services, further supports market expansion. Moreover, advancements in satellite technology, such as higher bandwidth capacity and cost-efficient satellite launches, are enhancing the capabilities of FSS, making it an essential solution for global connectivity and communication needs.
Based on region, Asia-Pacific is expected to experience growth at fastest growth rate. The major countries in Asia-Pacific are aiming to improve their connectivity during the coming years. Owing to these factors, there is a rise in demand for satellite broadband and fixed satellite services in the communication sector. Countries with a dominant share in the Asia-Pacific market are China, Japan, South Korea, and India.
Key Developments/Strategies in Satellite Services
- In January 2022, Intelsat collaborated with Gilat Satellite Networks in commercial aviation. Intelsat is to use the SkyEdge II-c system from Gilat to boost business and commercial aviation services throughout the region. According to Dave Bijur, Senior Vice President of Commercial Aviation at Intelsat, this partnership will significantly increase Intelsat’s in-flight connectivity (IFC) revenue.
- In February 2022, Intelsat’s largest integrated satellite operator in the world increased its partnership with SKY Perfect JSAT Corporation, to use the latter’s JCSAT-1C High-throughput Satellites (HTS) over Asia-Pacific. The agreement enables airlines and clients to deliver an improved passenger experience on board planes through better Internet connection speeds.
- In March 2024, Arabsat and Telesat signed a contract of Understanding (MoU) to form a long-term strategic partnership focused on commercializing the Telesat Lightspeed constellation in the Middle East and North Africa (MENA) region, addressing regulatory issues and orbital resources.
- In September 2023, Telesat and SpaceX announced an agreement for SpaceX to support the deployment of the Telesat Lightspeed constellation into Low Earth Orbit (LEO).
The key players operating and profiled in the market includes
Inmarsat plc
Intersputnik
MEASAT
PCCW Global
Intelsat
SES S.A.
Eutelsat Communications SA
Viasat, Inc.
Echostar Corporation
China Satellite Communications Co., Ltd. (China Satcom)
Thuraya Telecommunications Company
Asia Satellite Telecommunications Co. Ltd.
𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/6075
About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides end-to-end solutions along with information, education, advocacy, and networking resources to SMEs and early-stage start-ups to bring excellence to their processes. In addition, we offer a nurturing environment required to develop and grow businesses, including business planning; virtual support; market intelligence; acquiring resources; and getting direct access to finance, suppliers, and other experts to boost the growth of businesses and entrepreneurs.
Our bundled and hassle-free business support systems are customized to meet the needs of SME consultants and industry leaders. Moreover, our large network of skilled consultants and experts help start-ups get the business on a roll.
Contact:
Davin Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
