The global satellite communication market was valued at USD 31.22 billion in 2023 and is expected to grow from USD 33.98 billion in 2024 to USD 70.89 billion by 2032, registering a CAGR of 9.6% during the forecast period. North America led the market in 2023, accounting for a 39.17% share.

The SATCOM market in the United States is anticipated to witness substantial growth, reaching approximately USD 25.15 billion by 2032, driven by rising defense procurement and increasing R&D investments in the space sector.

Key Players in the Satellite Communication Market

The Satellite Communication Market is characterized by the presence of several leading players who are driving innovation and competition. Key companies include:

• Boeing (U.S.)
• Cobham Limited (U.K.)
• Communications and Power Technologies(U.S.)
• Honeywell International Inc. (U.S.)
• Inmarsat Global Limited (U.K.)
• Iridium Communications Inc. (U.S.)
• L3Harris Technologies, Inc. (U.S.)
• Qualcomm Technologies, Inc. (U.S.)
• Viasat, Inc. (U.S.)
• KVH Industries, Inc. (U.S.)

These players focus on expanding their satellite fleets, enhancing broadband services, and forging strategic partnerships to cater to diverse applications in aviation, maritime, defense, and IoT connectivity.

Information Source:

https://www.fortunebusinessinsights.com/satellite-communication-satcom-market-102679

Market Segmentation