Satellite Communication Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™

 

Satellite Communication Market will exhibit a CAGR of 7.73% and reach USD 41.33 billion by 2026, and the market value as per 2018 was  USD 22.61 billion.

Fortune   Business Insights™ in a recently published report, titled, “Satellite Communication (SATCOM) Market Size, Share & Industry Analysis, By Component (SATCOM Receiver, SATCOM Transmitter/Transponder, SATCOM Transceiver, SATCOM Antenna, SATCOM Modem/Router, and Others), By Technology (SATCOM Vsat, Satcom-On-The-Move (SOTM), Satcom-On-The-Pause (SOTP), SATCOM Telemetry, and SATCOM Automatic Identification System), By Platform (Commercial and Government & Defense), By End Use (Portable SATCOM equipment, Land SATCOM equipment, Maritime SATCOM equipment, and Airborne SATCOM equipment), and Regional Forecast, 2019-2026.”

Satellite Communication Market Drivers and Restraint :

Increasing Demand from Collegians & Working Women to Drive Growth

In today’s technology-driven world where almost every person is glued to a number of social media platforms, the adoption of makeup products is increasing at a fast pace. This growth is attributable to their capability to change the appearance of a person’s face, skin, and body. According to one of our lead analysts, “Working women and collegians are the main consumers of these products as they utilize cosmetics extensively in their everyday lives to look presentable and elegant.” Also, the availability of a wide range of products as per a consumer’s skin tone is set to propel the Satellite Communication Market growth in the coming years. They possess the ability of hiding scars, dark circle, discoloration on neck or face, as well as covering up acne. However, too much usage of makeup products can result in adverse effects, such as intoxication, redness, and allergies. It may hinder market growth.

Get Sample PDF Brochure with COVID19 Impact on Small Satellite Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/satellite-communication-satcom-market-102679

  

List of Significant Manufacturers Satellite Communication Market are:

• Inmarsat plc
• Honeywell International, Inc.
• The Boeing Company
• L3 Harris Technologies, Inc.
• Indra Sistemas, S.A.
• General Dynamics Corporation
• Cobham plc
• Viasat, Inc.
• Iridium Communications Inc.
• Qualcomm Technologies, Inc.

 

Regional Analysis-

Surge in Telecommunication Industry to Stimulate Growth in Asia Pacific

 

The market in North America stood at 13.11 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the growing military expenditure. The presence of key manufacturers  such as General Dynamics Corporation, L3 Harris Corporation, Honeywell International, Inc., Hughes Network Systems LLC, and others will aid healthy growth of the market during the forecast period. Asia Pacific is likely to witness high demand for SATCOM owing to the surge in telecommunication, aviation, and defense sector. Europe is expected to accounted for a major share in the market due to the growing modernization in the region. Nonetheless, Latin America is expected to grow rapidly in the foreseeable future owing to the reinforcement of military communication infrastructure.

 

Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/satellite-communication-satcom-market-102679

    

Competitive Landscape-

Contract for Satellite Ground Systems by Navy to Favor Growth

 

General Dynamics Corporation, an American aerospace and defense corporation received a contract from Navy to build the ground system for the Mobile User Objective System. The $732 million contract awarded by Navy can be an exponential factor in boosting the satellite communication (SATCOM) market growth during the forecast period owing to the Navy’s next generation narrowband satellite communications system, providing secure voice, video and data communications to military users all over the globe. According to General Dynamics, just one MUOS satellite can provide four times the capacity of the entire legacy system. Furthermore, the vice president and general manager for General Dynamics’ space and intelligence systems, Manny Mora, said in a statement, “MUOS will provide our warfighters with the ability to communicate securely, anywhere, anytime, with voice clarity and data transmission speed similar to using a civilian cell phone, this capability delivers a whole new level of connectivity for troops in the field.” In addition, the growing seaborne trade across countries will spur opportunities for the market in the

 

Some of the key industry developments in the Satellite Communication Market Include:

• August 2018: L’Oréal, a personal care company headquartered in France, successfully acquired Logocos Naturkosmetik AG, a provider of natural cosmetics based in Germany. This acquisition would enable the former in surging the sales of Logocos in the international market.
• September 2018: Shiseido Company, Limited, a multinational personal care company based in Japan, introduced its latest range of makeup products globally. This new collection consists of 21 products and 124 shades. It will be available under the SHISEIDO brand. The packaging of the products is based on modern Japanese culture. These include powders, inks, shimmering dews, and gels.