The Optical Satellite Communication Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Optical Satellite Communication Global Market Report 2024, The optical satellite communication market size has grown rapidly in recent years. It will grow from $12.14 billion in 2023 to $14.5 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to bandwidth demand, military and defense applications, space exploration, data security concerns, earth observation and remote sensing.
The optical satellite communication market size is expected to see exponential growth in the next few years. It will grow to $38.49 billion in 2028 at a compound annual growth rate (CAGR) of 27.6%. The growth in the forecast period can be attributed to emerging low earth orbit (LEO) constellations, inter-satellite communication growth, increasing commercial applications. Major trends in the forecast period include high throughput satellites (HTS), advancements in free-space optical (FSO) communication, inter-satellite links (ISL), quantum key distribution (QKD) for secure communication, miniaturization and lighter payloads.
The increase in penetration of smartphones is expected to propel the growth of the optical satellite communication market going forward. Smartphones refer to portable electronic gadgets with features such as the internet and integrated software applications that can perform computer functions. Smartphones depend on optical satellite communication for proper functioning, as this satellite communication helps to provide communication signals in remote areas. For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which is increasing by 25 million every quarter. Therefore, the increase in the penetration of phone users is driving the optical satellite communication market growth.
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The optical satellite communication market covered in this report is segmented –
1) By Component: Transmitter, Receiver, Modulator, Demodulator, Other Components
2) By Laser Type: Yag Laser, Silex Laser, Microwave Laser, Co2 Laser, Aigaas Laser Diode
3) By Application: Backhaul, Surveillance And Security, Tracking And Monitoring, Earth Observation, Enterprise Connectivity, Research And Space Exploration, Telecommunication, Other Applications
Major companies operating in the optical satellite communication market are developing innovative products, such as scalable optical communication terminals, to meet larger customer bases, increase sales, and increase revenue. A scalable optical communications terminal refers to a communication system that can be easily adjusted or expanded in size, capacity, or functionality to accommodate varying requirements. For instance, in August 2021, Mynaric, a Germany-based manufacturer of laser communication equipment for airborne and spaceborne communication networks, launched the CONDOR Mk3. The CONDOR Mk3 can enhance the company’s existing product portfolio by providing a mass-manufacturable, more compact, lighter, and energy-efficient alternative. This advancement directly results from useful input from consumers and industry stakeholders regarding the prior SDA-compliant Mk2 model. The commercial entry of the Mk3 is fueled by its dual scalability in terms of speed and output. The terminal’s variable data rate rates range from 100 Mbps to 100 Gbps, ensuring compliance with SDA regulations and the ability to handle evolving mission needs with higher speeds.
The optical satellite communication market report table of contents includes:
1. Executive Summary
2. Optical Satellite Communication Market Characteristics
3. Optical Satellite Communication Market Trends And Strategies
4. Optical Satellite Communication Market – Macro Economic Scenario
5. Global Optical Satellite Communication Market Size and Growth
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26. South America Optical Satellite Communication Market
27. Brazil Optical Satellite Communication Market
28. Middle East Optical Satellite Communication Market
29. Africa Optical Satellite Communication Market
30. Optical Satellite Communication Market Competitive Landscape And Company Profiles
Top Major Players:
- Mitsubishi Electric Corporation
- Honeywell International Inc
- NEC Corporation
- Thales Group
- Space Exploration Technologies Corp
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