The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Demand for tiny satellites for earth observation services is likely to stimulate innovation in satellite telecommunications manufacturing, propelling the market over the forecast period.

The global satellite telecommunications market is expected to grow from $39.78 billion in 2022 to $41.70 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The global satellite telecommunications market is expected to reach $47.77 billion in 2027 at a CAGR of 3.5%.

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Global Satellite Telecommunications Market Segments Include:

• By Component: Receiver, Transmitter Or Transponder, Transceiver, Antenna, Other Components
• By Platform: Portable SATCOM Equipment, Land SATCOM Equipment, Maritime SATCOM Equipment, Airborne SATCOM Equipment
• By Application: Asset Tracking Or Monitoring, Airtime, Drones Connectivity, Data Backup And Recovery, Navigation And Monitoring, Tele-medicine, Broadcasting, Other Applications
• By Vertical: Energy And Utility, Government And Defense, Transport And Cargo, Maritime, Mining And Oil And Gas, Agriculture, Communication Companies, Corporates Or Enterprises, Media And Broadcasting, Other Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global satellite telecommunications market in 2021.

Major Market Players in the satellite telecommunications market include Société Européenne des Satellites (SES S.A), Viasat Inc., Telesat, EchoStar Corporation, L3Harris Technologies Inc., SKY Perfect JSAT Holdings Inc., Gilat Satellite Networks.

The primary trend gaining traction in the satellite telecommunications market is technological improvement. Major satellite telecommunications firms are working on the development of new technology. Qualcomm Technologies, Inc., a US-based manufacturer of digital wireless telecommunication devices and services, for example, introduced Snapdragon Satellite in January 2023. This is the first satellite-based two-way texting service for luxury cellphones in the world. Snapdragon Satellite is powered by Snapdragon 5G Modem-RF Systems and supported by the Iridium® satellite constellation, which is currently operating and is expected to provide global connectivity via mobile messaging from anywhere in the world.

The Satellite Telecommunications Global Market Report 2023  provides a satellite telecommunications market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The satellite telecommunications market forecast analyzes satellite telecommunications market size, satellite telecommunications market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The use of man-made satellites to build communication links between various locations on Earth is referred to as satellite telecommunications. It is utilised in videoconferencing, telemedicine, and tele-education systems.

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