The global satellite communication market size was US$ 66.1 billion in 2021. The global satellite communication market is forecast to grow to US$ 141.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market
Small satellites are gaining wide traction as they are widely used for earth observation services across various industries. Moreover, the wide applications of small satellites across the oil and gas, energy, agriculture, and defense sector will contribute to the overall market growth.
SATCOM is increasingly being adopted in order to gather operational data, which would be further used to improve efficiency and discover sustainable ways. Thus, it will benefit the global satellite communication market.
Growing technological advancements, conbined with the rising adoption of Artificial Intelligence (AI) and the Internet of Things (IoT), will benefit the satellite communication market during the study period.
The growing range of strategic partnerships will also be beneficial for the satellite communication market. For instance, Viasat, Inc. inked a partnership agreement with SKY Brasil with the aim to provide reliable and fast satellite internet across Brazil. Thus, such initiatives will prompt the growth of the global satellite communication market.

Regional Analysis
North America is forecast to dominate the satellite communication market due to the rising demand for continuous communication by the defense industry. Further, the region is home to a large number of SATCOM providers, such as Viasat, Inc., Telesat, etc., which will contribute to the growth of the market during the forecast period.
The Asia-Pacific satellite communication market is forecast to register a significant growth rate, owing to the contribution of developing economies like China and Japan. Moreover, the rising use of satellite antennas in IT, telecommunication, IT, etc., will also contribute to the growth of the satellite communication market during the study period.

COVID-19 Impact Analysis
The COVID-19 pandemic negatively affected the satellite communication market, majorly due to the supply chain disruptions at a global level. Moreover, the end-use industries of satellite communication, such as aviation and maritime, were drastically affected by the pandemic. Thus, it impeded the demand for the satellite communication market during the COVID-19 pandemic period.

Competitors in the Market
SES S.A.
Viasat, Inc.
Intelsat
Telesat
EchoStar Corporation
L3 Technologies, Inc.
Thuraya Telecommunications Company
SKY Perfect JSAT Group
GILAT SATELLITE NETWORKS
Cobham Limited
Other Prominent Players

Regional Analysis
The global satellite communication market segmentation focuses on Component, Application, Vertical, and region.
Component Outlook
Equipment
o SATCOM Transmitter/Transponder
o SATCOM Antenna
o SATCOM Transceiver
o SATCOM Receiver
o SATCOM Modem/Router
o Others
Services
Application Outlook
Asset Tracking/Monitoring
Airtime
o M2M
o Voice
o Data
Drones Connectivity
Data Backup and Recovery
Navigation and Monitoring
Tele-medicine
Broadcasting
Others
Vertical Outlook
Energy & Utility
Government & Defense
o Government
o Emergency Responders
o Defense
Transport & Cargo
o Fleet Management
o Rail services
Maritime
Mining and Oil & Gas
o Oil & Gas
o Mining
Agriculture
Communication Companies
Corporates/Enterprises
Media & Broadcasting
Events
Aviation
Environmental & Monitoring
Forestry
Consumer
Healthcare
Others
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America