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The global satellite comm market size is predicted to reach USD 41.33 billion by 2026, exhibiting a CAGR of 7.73% during the forecast period. The rising demand for small satellites in energy, oil & gas, defense, and other sectors will boost the satellite communication (SATCOM) market trends during the forecast period. The growing utilization of small satellites in the defense sector for applications such as, tactical communication, medium resolution imagery, and geospace & atmospheric research will create sales opportunities for the satellite communication (SATCOM) market share in the forthcoming years, states Fortune Business Insights in a report, titled “Satellite Communication (SATCOM) Market Size, Share & Industry Analysis, By Component (SATCOM Receiver, SATCOM Transmitter/Transponder, SATCOM Transceiver, SATCOM Antenna, SATCOM Modem/Router, and Others), By Technology (SATCOM Vsat, Satcom-On-The-Move (SOTM), Satcom-On-The-Pause (SOTP), SATCOM Telemetry, and SATCOM Automatic Identification System), By Platform (Commercial and Government & Defense), By End Use (Portable SATCOM equipment, Land SATCOM equipment, Maritime SATCOM equipment, and Airborne SATCOM equipment), and Regional Forecast, 2019-2026” the market size stood at USD 22.61 billion in 2018.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

KEY INDUSTRY DEVELOPMENTS:

  • In March 2020- CACI International Inc.had a contract with the U.S. Navy worth USD 180.3 million. In this contract, the company will provide satellite communications systems and network support services for the Navy.
  • In March 2020-Peraton received a contract of value USD 218 million to provide commercial satellite communications services for the U.S. Africa Command. This contract will establish a strong partnership with the government of the U.S.

Browse Summary of This Research

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Read Related News:

https://www.globenewswire.com/news-release/2020/04/27/2022284/0/en/Satellite-Communication-SATCOM-Market-Size-to-Reach-USD-41-33-Billion-by-2026-Rising-Defense-Budget-to-Spur-Sales-Opportunities-states-Fortune-Business-Insights.html

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