The global VSAT satellite communication market is expected to grow significantly in the coming years. According to a recent report by Market Research Future, the market is projected to reach a value of USD 13.7 billion by 2028, growing at a CAGR of 8.8% during the forecast period of 2022-2028.
The increasing demand for high-speed internet connectivity in remote areas, rising adoption of satellite communication in various industries, and the growing need for advanced communication technologies are some of the major factors driving the growth of the VSAT satellite communication market.
The VSAT (Very Small Aperture Terminal) technology is widely used for satellite communication, which enables the transmission of data, voice, and video signals over long distances. The technology is particularly useful in areas where traditional communication infrastructure is not available or is unreliable.
The VSAT satellite communication market is segmented based on type, application, and region. Based on type, the market is divided into Ku-band, C-band, Ka-band, and others. The Ku-band segment is expected to dominate the market during the forecast period, owing to its high data transfer rate and cost-effectiveness.
Based on application, the market is segmented into maritime, aviation, government, military and defense, telecommunication, and others. The government and military segment is expected to hold the largest market share during the forecast period, owing to the increasing demand for secure and reliable communication systems in defense and security applications.
Geographically, the VSAT satellite communication market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. North America is expected to dominate the market during the forecast period, owing to the presence of major players in the region and the increasing adoption of satellite communication in various industries.
The key players operating in the VSAT satellite communication market include Hughes Network Systems LLC, Viasat Inc., Gilat Satellite Networks Ltd., Inmarsat plc, VT iDirect Inc., Comtech Telecommunications Corp., Newtec Cy N.V., Skycasters LLC, and others.
These players are focusing on strategic partnerships, collaborations, and mergers and acquisitions to expand their market presence and strengthen their product portfolio. For instance, in February 2021, Viasat Inc. announced a strategic partnership with China Satcom, a leading satellite operator in China, to provide high-speed satellite internet services to airlines flying over China.
In conclusion, the global VSAT satellite communication market is expected to witness significant growth in the coming years, owing to the increasing demand for high-speed internet connectivity in remote areas and the growing need for advanced communication technologies. The market is highly competitive, with major players focusing on strategic partnerships and collaborations to expand their market presence. North America is expected to dominate the market during the forecast period, owing to the presence of major players in the region and the increasing adoption of satellite communication in various industries.