The “Satellite Communication Terminal Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Classification and Application” report has been added to ResearchAndMarkets.com’s offering.
The satellite communication terminal market is expected to grow from US$ 3,877.1 million in 2021 to US$ 6,030.7 million by 2028; it is estimated to grow at a CAGR of 6.5% during 2021-2028.
The European satellite communication terminal market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The region is characterized by high GDP, high GDP per capita, high standard of living, favorable economic policies, vast industrialization, a rise in the aging population, and a positive outlook for the adoption of new technology.
Western European countries heavily emphasize the use of advanced technologies for satellite communication terminals compared to Eastern European countries. Telecommunications, enterprise & broadband, land mobility, remote sensing & earth observation, aviation, and aerospace are some domains that contribute to the growth of the satellite communication terminal market in the region.
The service providers in Europe understand the increasing relevance of the 6 GHz spectrum. The region is set to target the 6 GHz band as it is crucial for future capacity needs and growth. The telecommunication industry involves the significant use of satellite communication terminals.
As per the 2021 Europol report on the Terrorism situation in the European Union (EU), the region witnessed 57 terrorist attack attempts in 2020. Due to such a high count of attack attempts, the requirement for SATCOM-on-the-move solutions for unmanned ground vehicles is anticipated to increase notably.
The X Band segment represented the largest share of the overall market in 2020. In terms of application, the satellite communication terminal market is segmented into military use and civil use. In 2020, the military use segment accounted for a substantial market share. In 2020, North America accounted for a significant share in the global market.
In the South America region, Brazil is the worst affected country due to the outbreak of COVID-19 followed by Colombia, Argentina, and Peru. The government authorities of various countries in South America are taking several initiatives to protect people and to contain COVID-19’s spread in the region through respective limitations and restrictions.
The construction of new airports and development in the aerospace sector was driving the demand for respective satellite communication terminals before the COVID-19 pandemic began. However, disruption of the supply chain and scarcity of raw materials led to delay in the scheduled deliveries.
Due to the growing telecommunication sector, and media & entertainment industry, demand for respective satellite communication terminal was there during the pandemic. But due to the challenges in the production process, the supply of satellite communication terminals was hampered considerably. Yahoo! News