Airborne SATCOM market to reach $7.3 billion by 2027, study predicts
NewsJuly 26, 2022
NORTHBROOK, Ill. The market for airborne satellite communications (SATCOM) is projected to grow from $5.4 billion in 2022 to $7.3 billion by 2027, according to a study from MarketsandMarkets, "Airborne SATCOM Market by Installation Type, Application, Platform, Frequency, Component, and Region -- Global Forecast to 2027."
Based on application, the government and defense segment of the SATCOM market is projected to grow from $1.75 billion in 2022 to $2.30 billion in 2027, at a combined annual growth rate (CAGR) of 5.7%. According to the study authors, this market growth will be due to the increased need to provide advanced situational awareness to armed forces for ISR [intelligence, surveillance, and reconnaissance] and aircraft rescue missions.
The study authors also cite as an opportunity in the SATCOM market increased use of SATCOM terminals on small and medium unmanned aerial systems (UASs), which government and defense agencies will use to enable better connectivity, access to beyond-line-of-sight (BLOS) situational data, and live streaming of imagery and video in various applications such as ISR, surveillance, mapping, and infrastructure inspection.
For additional information visit the MarketsandMarkets website.
