From GlobeNewswire: 2024-05-31 08:00:00

The Satellite Communication (SATCOM) Market is set to reach USD 38.7 Billion by 2028, with a CAGR of 11.3%. Factors driving growth include the launch of LEO satellites, the demand for high-speed communication networks in remote areas, and increased use in military and government applications.

Challenges facing the SATCOM Equipment Market include high initial investment costs, regulatory variations, and technical complexity. Small and medium-sized enterprises may struggle to enter the market due to these obstacles, hindering growth and adoption.

Despite challenges, opportunities abound in the SATCOM Equipment Market. The demand for high-speed internet in remote areas and the adoption of satellite communication technology in various sectors offer growth potentials. Advancements in satellite technology, such as HTS and LEO satellite constellations, are driving market expansion.

Top players in the SATCOM industry include EchoStar Corporation, L3Harris Technologies, Thales Group, Raytheon Technologies Corporation, and General Dynamics Corporation. These global leaders offer satellite communication solutions, managed network services, defense systems, and technology solutions across various industry sectors.



Read more at GlobeNewswire: Challenges and Opportunities in the Satellite Communication