Satellite Communication Market to grow USD 194.55 Billion by 2032 Driven by advancements in 5G and low-earth orbit (LEO) satellites | SNS Insider
The Satellite Communication (SATCOM) Market is growing with demand for high-speed connectivity in remote areas, defense, and IoT applications.
Austin, Feb. 24, 2025 (GLOBE NEWSWIRE) — Satellite Communication Market Size & Growth Insights:
According to the SNS Insider,“The Satellite Communication Market Size was valued at USD 84.47 Billion in 2023 and is expected to reach USD 194.55 Billion by 2032 and grow at a CAGR of 9.72% over the forecast period 2024-2032.”
The Satellite Communication Market is experiencing rapid growth, due to high demand for high speed internet, growing application of satellite-based services in defense and commercial sectors, and improvements in satellite technology. Growing adoption of low Earth orbit (LEO) satellites is improving connectivity in remote areas, and the incorporation of satellite communication into aviation, maritime, and IoT applications will continue to drive the market. Furthermore, the increasing adoption of 5G infrastructure and investments in government space exploration further support global industry expansion. With data consumption and cloud-based applications creating demand for more bandwidth capacity, satellite operators are advancing high-throughput satellite (HTS) systems.
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Leading Market Players with their Product Listed in this Report are:
- SpaceX (Starlink, Satellite Launch Services)
- Hughes Network Systems (Satellite Internet, Managed Network Services)
- Viasat Inc. (Broadband Services, Satellite Ground Equipment)
- SES S.A. (Broadcast Services, Managed Data Services)
- Intelsat S.A. (Media Distribution, Connectivity Solutions)
- Eutelsat Communications (Broadcast Distribution, Data Services)
- Thales Alenia Space (Satellite Manufacturing, Defense Communication)
- Boeing Defense, Space & Security (Satellite Systems, Network Solutions)
- Lockheed Martin Corporation (Satellite Systems, Space Exploration Services)
- Northrop Grumman Corporation (Satellite Payloads, Ground Systems)
- Cobham SATCOM (Maritime Communication, Land Mobile Solutions)
- Gilat Satellite Networks (VSATs, Network Infrastructure)
- Inmarsat (Mobile Satellite Services, Global Connectivity)
- Globalstar, Inc. (Satellite Messaging, IoT Solutions)
- Telesat (Broadcast Services, Broadband Solutions)
- Iridium Communications Inc. (Global Satellite Phones, IoT Applications)
- Orbital ATK (Satellite Components, Space Launch Vehicles)
- Kratos Defense & Security Solutions (Ground Station Solutions, RF Monitoring)
- L3Harris Technologies (Defense Communication, Satellite Electronics)
- Blue Origin (Satellite Launch Services, Spaceflight Systems).
Satellite Communication Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 84.47 Billion |
| Market Size by 2032 | USD 194.55 Billion |
| CAGR | CAGR of 9.72% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Frequency Band (L-band, S-band, C-band, X-band, Ku-band, Ka-band), • By Satellite Constellations (Low Earth Orbit (LEO) Satellites, Medium Earth Orbit (MEO) Satellites, Geostationary Equatorial Orbit (GEO) Satellites), • By Component (Equipment (Satcom Transmitter/Transponder, Satcom Antenna, Satcom Transceiver, Satcom Receiver, Satcom Receive, Satcom Modem/Router, Others (Block-up converters, controllers)), Service), • By Application (Asset Tracking/Monitoring, Airtime (M2M, Voice, Data), Drones Connectivity, Data Backup and Recovery, Navigation and Monitoring, Tele-medicine, Broadcasting, Others), • By Vertical (Energy & Utility, Government & Defense (Government (Civil Uses), Emergency Responders, Defense), Transport & Cargo (Fleet Management, Rail Services), Maritime, Mining and Oil & Gas, Agriculture, Communication Companies, Corporates/Enterprises, Media & Broadcasting, Events, Aviation, Environmental & Monitoring, Forestry, End User – Consumer, Healthcare, Others) |
| Key Drivers | • Increasing Need For Reliable Global Connectivity Is Driving The Satellite Communication Market.
• Advancements In The Technology Of Small Satellites Provide Strong Market Growth Prospects. |
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Key Industry Segmentation Analysis
By Frequency Band, “C-Band Dominates, Ka-Band Rapid Growth
In 2023, the C-band segment led the Satellite Communication Market with a 34% share, owing to extensive deployments in broadcasting and telecommunication sectors. It is well-suited for mission-critical applications owing to its capability of providing reliable communication in harsh weather.
The Ka-band segment is set to grow at the fastest CAGR of 10.54% from 2024 to 2032, offering higher bandwidth and faster data transmission for broadband, HD video streaming, and enterprise communication. Rising demand for satellite-based internet and evolving satellite technology are fueling this growth. Additionally, the continuous expansion of satellite constellations and increased deployment of high-throughput satellites (HTS) are expected to drive significant adoption of the Ka-band in the coming years.
By Component, services Dominating and Equipment Fastest Growing
In 2023, the services segment led the Satellite Communication Market with a 58% share, due to the growing demand for satellite-based data, broadcasting, and communication for different sectors such as media, defense, and maritime. Satellite capacity leasing, network operation, and value-added services are included.
The equipment segment is projected to grow at the fastest CAGR of 10.02% from 2024 to 2032, due to an increased use of advanced ground-based communication equipment like antennas, modems and transceivers. This demand for high-performance satellite communication hardware is also fueled by the rise of IoT and 5G networks, as well as the increasing need for versatile and secure communication structures.
By Application, broadcasting Dominating and Airtime Fastest Growing
In 2023, the broadcasting segment dominated the market with a 25% share, owing to the growing demand for satellite TV, radio, and live event coverage. This is where satellite communication continues to be vital in providing consistent streaming media service with high availability.
The airtime segment is expected to grow at the fastest CAGR of 10.78% from 2024 to 2032, due to increasing adoption of Mobile Satellite Services (MSS) in maritime, aviation, and remote-based land operations. Satellites are increasingly being used for real-time data transmission and seamless global connectivity, resulting in high growth in the segment driving up demand for satellite airtime services..
By Satellites Constellation, LEO Satellites Dominate and Accelerate with Mega-Constellations Expansion
In 2023, the LEO satellites segment led the market with a 44% share, driven by their low latency and superior communication capabilities. Widely utilized for broadband internet and Earth observation, LEO satellites offer enhanced connectivity, making them essential for various industries. From 2024 to 2032, this segment is expected to grow at the highest CAGR of 10.19%, fueled by the continuous deployment of mega-constellations by companies like SpaceX, OneWeb, and Amazon. These initiatives aim to deliver high-speed global internet, especially to remote and underserved regions, further strengthening LEO satellites’ market dominance.
By Vertical, Media Leads, but Government & Defense Drive the Future of Secure Satellite Communication
In 2023, the media & broadcasting segment dominated the market with a 26% share, driven by increasing demand for content distribution via satellite and broadcasting of live events. Satellite Communication for content distribution over a wide geographical area is still a major driver of growth.
The government & defense segment is projected to grow at the highest CAGR of 11.08% 2024 to 2032, due to the increasing requirement of secure communication, especially in military operations, surveillance, and disaster response. Governments all around the world are investing heavily in advanced satellite-based systems to improve the resilience of national security and communication.
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North America Leads, but Asia Pacific Surges with Expanding Satellite Investments
In 2023, North America dominated the market with a 43% share, driven by the presence of major satellite communication providers, technological advancements, and strong U.S. government investments in defense, communication, and space exploration. The region’s well-developed infrastructure and high adoption of advanced communication technologies further strengthen its market position.
Asia Pacific is set to grow at the highest CAGR of 10.69% from 2024 to 2032, fueled by rising demand for satellite-based services in emerging economies like China, India, and Japan. Government initiatives to enhance satellite infrastructure, increased investments in space programs, and growing rural internet demand are key drivers. Expanding satellite networks for commercial and military applications further accelerate regional growth.
Table of Contents – Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Frequency Bands Usage Distribution
5.2 Customer Adoption Trends
5.3 Industry Applications
5.4 Bandwidth Capacity Growth
6. Competitive Landscape
7. Satellite Communication Market Segmentation, by Frequency Band
8. Satellite Communication Market Segmentation, by Satellite Constellations
9. Satellite Communication Market Segmentation, by Component
10. Satellite Communication Market Segmentation, by Application
11. Satellite Communication Market Segmentation, by Vertical
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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