Satellite Services Market Outlook and Forecasts 2022 – 2030

Satellite Services Market Outlook and Forecasts 2022 – 2030

This report assesses the satellite services market for communications and specific solutions by segment (consumer, enterprise, industrial, and government customers) as well as by industry vertical. It includes coverage of Internet access, asset tracking, surveillance, and IoT applications. It provides analysis by satellite type (LEO, MEO, and GEO) and by consumer versus business with segmentation by business type.

The report also provides forecasts for all major solution and application areas as well as by major industry verticals and market segments including consumer, enterprise, industrial, and government segments from 2022 to 2030. It also provides forecasts for satellite components and equipment such as Satellite NOC/ Hub, Terminal, Communications Platforms, and more from 2022 to 2030.

Select Report Findings:

The global satellite communication and internet access market will approach $216.2 billion by 2030 and the market will grow at 24% CAGR

The fixed antenna segment is the largest segment with 44% of the total market, while portable antenna segment is expected to grow at 26.9% CAGR

The fixed satellite service is the largest segment with 75% of the total market, while mobile satellite services segment is expected to highest growth at 38.7% CAGR

The communication segment is the largest segment by application with 41% of the total market

The enterprise segment is the largest segment by end user with 35% of the total market

The satellite equipment is the largest segment with 46% of the total market

Maritime, defense, aviation, public sector, and financial institutions are the industry verticals of satellite communications and internet access market

The business drivers for satellite communications and applications are clear. Satellites provide coverage in areas where terrestrial wireless cannot. In fact, land-based wireless-only covers roughly 12% of the globe. Certain verticals, such as the maritime industry, require global coverage. This will be especially important as shipping begins to adopt autonomous transport as vessels will continue to require ship-to-shore communications as well as a new need for signaling with onboard ship sensors for navigation and ship controls.

The asset management industry also requires satellite systems for coverage in support of fleet tracking, supply chain management, and general asset tracking needs. The advent of advanced Internet of Things (IoT) solutions leveraging machine-to-machine communications and other supporting technologies enables anytime, anywhere, any type of asset tracking. Satellites provide seamless M2M communications for the IoT-based asset tracking market.

While GPS provides the bulk of this today, it is not the best solution for latency-sensitive applications and/or those that require high bandwidth. There is a market need for additional satellite types to provide bandwidth on demand, uninterrupted connectivity, and support for mission-critical operations that require ultra-reliable communications. This is similar to the business case for 5G in private networks such as industrial applications that are time-sensitive. While 5G is poised to dramatically increase terrestrial radiodensity, coverage is not a strong suit, and thus the need for satellites to fill in the holes. Satellites will also be an option for 5G backhaul.

Satellite services also provide coverage for business solutions that are often problematic and/or in remote areas such as mining operations, deep-water, and agriculture in third-world countries. Satellite services are also important in certain industries that require continuous network coverage such as oil & gas, transportation systems involving hybrid networks for autonomous vehicles, and other mission-critical services. In addition to providing continuous coverage in areas not practical by terrestrial systems, satellites may also provide continuous service in the event that terrestrial systems have a service outage.

However, satellite services do have some downsides, which include cost and signal latency. The former is in a downward trajectory and the latter will be solved by low earth orbit (LEO) satellite systems. The upside of LEOs is that they have much lower latency due to their shorter distance to the earth's surface, but there is a need for many more than middle-earth orbit or geosynchronous satellites and there is also a need for frequent hand-off from one LEO satellite to another. Fortunately, LEO satellites are also much smaller than GEOs, often weighing as little as 10kg (as compared to 1,000kg or more for GEOs) and thus require less expensive launch vehicles.

One of the additional drivers for LEO vs. GEO is that there is a limited number of orbital slots available for GEO satellites. However, LEO’s are not the perfect solution as there are concerns about plans from the likes of SpaceX, OneWeb, and even Amazon to collectively launch thousands of satellites into orbit rendering the earth’s atmosphere a sea of machines. To partially deal with this issue SpaceX requested permission from the FCC to adjust the orbital spacing of its satellites to facilitate three orbital planes rather than one, which they claim will accelerate deployment by taking advantage of a wider service area.

Companies in Report:

Airbus Defense and Space

Amazon

Antrix Corporation Limited

Apstar

ARA Antenna Research

Arabsat

Ariane Group

AsiaSat

Ball Aerospace & Technologies Corp

Blue Origin

Blue Sky Network

Boeing Defense; Space and Security

Campbell Scientific, Inc.

Casic

China Satcom

Cobham plc.

Commercial Space Technologies Ltd

Communications & Power Industries LLC

Comtech PST Corp

Comtech Telecommunications Corp

Cosmos International

Digisat International Inc.

EchoStar Mobile Limited

Eric Communications

Ericsson Inc.

Eurockot Launch Services

Eutelsat

Fleet Space

General Dynamics Mission Systems

Gilat Satellite Networks

GK Launch Services

Globalstar Inc.

L3 Harris Technologies

Holkirk Communications Ltd

Hughes Satellite Systems Corporation

Inmarsat PLC

Intelsat General

Iridium Communications

ISRO

ISS-Reshetnev

Kepler Communications

LeoSat Enterprises

Lockheed Martin

Mitsubishi Heavy Industries Launch Services

NASA

Newtec CY NV

Northrop Grumman

OHB SE

OneWeb Satellites

ORBCOMM Europe Holding BV

Orbital Tracking Corp

Planet Labs

Qualcomm Inc.,

SatCom Global Ltd

SES

Singtel

Skyperfect

Space Star Technology

Space Systems/Loral

SpaceX

Synertone

Telesat

Telstra

Thaicom

Thales Alenia Space

Thuraya

United Launch Alliance

Vector

ViaSat

Virgin Galactic

VT iDirect (ST Engineering)