Optical Satellite Communication Market to Worth USD 5.12 Billion by 2030 | Exclusive Report by Fortune Business Insights™
The global Optical Satellite Communication Market covered major segments By Laser Type (YAG Laser, Silex Laser, CO2 Laser, Others), By Application (Telecommunication, Tracking & Monitoring, Surveillance & Security, Space Exploration, Earth Observation, and Others), By Component (Transmitter, Receiver, Antenna, Modular, and Others), and Region.
Pune, India, Nov. 15, 2023 (GLOBE NEWSWIRE) — The global optical satellite communication market size was valued at USD 1.51 billion in 2022 and is projected to grow from USD 1.77 billion in 2023 to USD 5.12 billion by 2030, exhibiting a CAGR of 16.4% during the forecast period.
Data relay satellites prominently use optical communication, which drives market growth. For remote sensing, earth observation, and other data, countries such as China, Japan, Russia, and the U.S., have demonstrated inter-satellite communication for transmission. Fortune Business Insights presents this information in their report titled” Optical Satellite Communication Market, 2023–2030.”
Optical satellite communication, also known as free-space optical communication (FSO), is a technology that uses optical signals, typically laser beams, for data transmission between satellites and ground stations or between satellites in space. This technology has several advantages, including high data transfer rates, low latency, and immunity to electromagnetic interference.
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List of Key Players Profiled in the Optical Satellite Communication Market Report:
- Ball Corporation (U.S.)
- BridgeComm, Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- Laser Light Communications (U.S.)
- Mynaric (Germany)
- NEC Corporation (Japan)
- Surrey Satellite Technology (U.K.)
- Starlink (U.S.)
- Thales Group (France)
- Tesat-Space GmbH & Co. KG (Germany)
Report Scope & Segmentation:
|2030 Value Projection||USD 5.12 billion|
|Market Size in 2023||USD 1.77 billion|
|No. of Pages||188|
|Report Coverage||Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends|
|Optical Satellite Communication Market Growth Drivers||Technological Advancements and Benefits over Conventional Systems Boost Market Growth|
|Development of Ground Infrastructure to Support Optical Satellite Communication is Anticipated to Drive Market Growth|
Browse Detailed Summary of Research Report with TOC:
Here are some key points related to the optical satellite communication market:
Market Growth: The optical satellite communication market was experiencing significant growth due to the increasing demand for high-speed data transfer for Earth observation, remote sensing, and space exploration missions. The need for more efficient communication systems in space applications was driving this growth.
Applications: Optical satellite communication technology is primarily used in space-based applications, including satellite-to-satellite communication, satellite-to-ground communication, and space-to-space communication. It is commonly used in Earth observation, scientific missions, and military applications.
Challenges: While optical satellite communication offers high data transfer rates, it is sensitive to atmospheric conditions and can be affected by weather, clouds, and other environmental factors. Mitigating these challenges is a key focus of research and development in the field.
Competitive Landscape: Several companies and organizations are involved in the development and deployment of optical satellite communication systems. This includes established satellite operators, space agencies, and startups working on innovative solutions. Companies like Laser Light Communications, Mynaric, and BridgeSat are some of the key players in this space.
Regulatory Considerations: Optical satellite communication, like other satellite technologies, is subject to regulatory frameworks. Companies operating in this space must adhere to international regulations and coordinate with relevant authorities to ensure safe and interference-free operations.
Market Trends: Advances in laser technology and optical components, as well as the development of more robust and resilient communication protocols for optical links, were driving trends in the market. Additionally, the growing demand for satellite-based internet and data services was a significant driver.
Growing Use of CO2 Laser in Satellite Communication Drives Segmental Growth
Based on laser type, the market is divided into YAG laser, CO2 laser, Silex laser, others. Rising compliance of CO2 laser in satellite communications by offering efficient platform for data transmission dominates the market.
Telecommunications Segment to Dominate due to High Broadcasting Demand
By application, the market is categorized into telecommunication, tracking & monitoring, surveillance & security, space exploration, earth observation, and others. Increased demand for broadcasting services will contribute to the dominance of the telecommunication segment during the forecast period.
Importance of Components in Satellite Communication Systems to Spur Transmitters Growth
Based on components, the market is classified into receiver, transmitter, antenna, modular, and others. Due to its importance in electronic devices, the transmitter segment is expected to grow with a significant growth rate in the optical satellite communication industry during the forecast period.
Geographically, the market is studied across North America, Europe, Asia Pacific, and Rest of the World.
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The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into the regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Optical Inter Satellites’ Superiority to Expand Market Share
Due to its several advantages, numerous companies are concentrated on developing projects in association with optical inter satellite communications. These projects are anticipated to increase the market share for optical satellite communication. For its Starlink internet service, SpaceX deployed 2,000 satellites and are prepared to advance to new heights.
On the contrary, clouds can cause signal attenuation as they are capable of absorbing and scattering laser beams, which may hamper the optical satellite communication market growth.
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Detailed Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Impact of COVID-19 Pandemic on Global Optical Satellite Communication Market
- Global Optical Satellite Communication Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Segmental Definitions
- Market Analysis, Insights and Forecast – By Laser Type
- YAG Laser
- Silex Laser
- CO2 Laser
- Market Analysis, Insights and Forecast – By Application
- Tracking & Monitoring
- Surveillance & Security
- Space Exploration
- Earth Observation
- Market Analysis, Insights and Forecast – By Component
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Rest of the World
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North America Leads Due to Rising Space Exploration Activities
In 2022 North America dominated the market with a valuation of USD 0.71 billion. The region is expected to continue its dominance due to growing space exploration activities and high adoption of optical communication satellites.
Europe holds the second-largest optical satellite communication market share due to its specialized application for military and scientific purposes.
Strategic Partnerships and Innovations in Small sats to Propel Market Growth
The presence of market leaders fragments the optical satellite communication industry. Companies focus on increasing the market’s share by developing payloads for CubeSats and small sats. Nokia and Laser Light Communications have collaborated for the first phase of beta deployment of its optical software-defined network in various global locations.
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Key Industry Development:
June 2022 – BlueHalo was awarded a contract to deliver optical laser communications terminals for the Air Force Research Laboratory at Kirtland Air Force Base to demonstrate on-orbit processing of satellite positioning and timing.
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