Satellite Communication Market Booms, Driven by Subscription Models and North America's 41.8% Share
The satellite communication equipment market is booming, with subscription models and equipment-as-a-service emerging as key revenue drivers. The United States currently leads with a 41.8% share, valued at USD 9.94 billion in 2024. This growth is fuelled by increasing demand for uninterrupted communication in defence, maritime, aviation, and disaster recovery applications.
The market's expansion is driven by various factors. Businesses are focusing on vertical integration and strategic alliances to manage supply chains and reduce deployment costs. The defence and aerospace sectors, along with telecommunications firms, are diversifying their infrastructure by incorporating satellite links. The increased deployment of low-earth orbit (LEO) satellites, advancements in antenna technology, and integration with 5G are further accelerating equipment adoption.
Countries like Argentina are expected to grow rapidly in this market through 2030. This is due to planned expansions of satellite constellations, international collaborations, and growing global demand for satellite services. Despite some economic challenges, Argentina's market is poised for significant growth. The market's growth causes shifts in supply chains and cost structures for businesses, with rising demand for high-throughput satellites and phased-array antennas.
The Global Satellite Communication Equipment Market is projected to grow from USD 23.78 billion in 2024 to USD 71.90 billion by 2034, expanding at a CAGR of 11.7% over the forecast period. This growth positively influences global economic development by supporting digital inclusion and enhancing national security. It also supports job creation across manufacturing, launch services, satellite operations, and maintenance, attracting private investment and partnerships.
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