SKY-BASED COMMUNICATION MARKET SEEN SOARING 25.53% GROWTH TO REACH USD BILLION BY 2030, PROJECTS UNIVDATOS MARKET INSIGHTS

Key Highlights of the Report:

• Increasing Demand for High-Speed Connectivity: With the growing need for high-speed connectivity, the demand for satellite-based communication systems has increased significantly in recent years. This trend is expected to continue in the coming years due to factors such as the increasing use of remote sensing technologies, navigation systems, and other applications that require real-time data transmission.
• Advancements in Satellite Technology: The development of advanced satellite technology has played a crucial role in improving the efficiency and reliability of sky-based communication systems. For instance, new satellites equipped with advanced transceivers and antennas have enabled higher bandwidth and better signal quality, which has led to an increase in the adoption of these systems.
• Emergence of New Players: The sky-based communication market has witnessed the emergence of new players, leading to intense competition among existing vendors. These new entrants are offering innovative solutions and services, which has forced established companies to improve their offerings and adopt new strategies to stay competitive.
• Integration with Other Technologies: Sky-based communication systems are being integrated with other technologies such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT) to enhance their capabilities and expand their reach. For example, AI algorithms can be used to optimize network performance and ensure seamless communication between devices.
• Growth Opportunities in Emerging Markets: The sky-based communication market is expected to experience significant growth opportunities in emerging markets such as Asia Pacific, Latin America, and Africa. These regions have vast untapped potential for satellite-based communication systems due to their geographical locations and limited access to traditional communication infrastructure.

The Sky-Based Communication Market was valued at 122.6 billion in 2022 and is expected to grow at a steady rate of around 25.53% in the forecasted period (2023-2030) owing to increasing demand for exploring space and military applications has led to a spike in interest and investment in sky-based communication systems. Sky-based communication refers to using satellites in space to provide telecommunications services such as internet access, voice calls, and other data transmissions. The market for sky-based communications has been growing rapidly over recent years due to increasing demand for high-speed connectivity globally, especially in remote areas where traditional infrastructure may not be available or practical. Moreover, the development of new technologies, such as IoT and AI, has opened new opportunities for satellite communication, making it more relevant and versatile for various applications. Also, the rising number of satellites launched for communication purposes has contributed to the growth of the sky-based communication market, as more satellites in orbit increase the demand for communication systems and services. For an instance, according to United Nations Office for Outer Space Affairs the annual number of objects launched into space by United States 2023, was estimated to 2,166.

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Some of the recent developments are:

• On November 29, 2023, Telesat Government Solutions, a subsidiary of Telesat, has been selected for the second phase of DARPA’s Space-Based Adaptive Communications Node (Space-BACN) program. This program aims to develop technology that enables secure and resilient communication networks in space.
• On November 16, 2023, Intelsat demonstrated its ability to provide seamless satellite communications connectivity for the U.S. Army through a successful two-week field test of its Multi-Orbit Tactical Terminal (MOTT). This marked one of the most extensive military field network tests ever conducted since the device’s launch.

Conclusion

the sky-based communication market is expected to experience robust growth in the coming years due to increasing demand for high-speed connectivity, advancements in satellite technology, integration with other technologies, and growth opportunities in emerging markets. According to the UnivDatos Market Insights analysis, “Sky-Based Communication Market” report, the global market was valued at USD 122.6 billion in 2022, growing at a CAGR of 25.53% during the forecast period from 2023 – 2030 to reach USD billion by 2030.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2023−2030.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities.

Market Segmentation – A detailed analysis of type, application, and end-users.

Competitive Landscape – Top Key Vendors and Other Prominent Vendors.