Optical Satellite Communication Market revenue to reach USD 8 Billion by 2035, says Research Nester
Prominent optical satellite communication market players include ATLAS Space Operations, Inc., BridgeSat Inc., Hisdesat Servicious Estrategicos S. A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A., Ball Aerospace & Technologies Corp., and Laser Light Communications Inc.
New York, March 05, 2024 (GLOBE NEWSWIRE) — The global optical satellite communication market size is slated to expand at ~21% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 8 billion by the end of 2035, up from a revenue of ~USD 2 billion in the year 2022.The growth of the market can be impelled by the rising worldwide use of mobile phones. In 2020, the global usage of mobile phones reached 6.2 billion users, and it is projected to exceed 7 billion in 2023. The industry is expected to grow over the coming years due to increasing demand for more extensive network bandwidth. In addition, market expansion throughout the period foreseen is projected to be possible as a consequence of increasing shifts in business from offline to online.
Request Free Sample Copy of this Report @ in North America region is estimated to garner the largest revenue by the end of 2035. The growth of the regional market is mainly attributed to increasing government initiatives to improve communication technology, which is expected to fuel the growth of the market in the region in the coming years. Moreover, the region is seeing an increase in the number of users of 5G technology, which is expected to boost the market growth in the region. Moreover, the North American market is expected to account for the largest share during the forecast period due to heavy R&D investments in new optical satellite communication technologies and strong presence of market players in the region. According to data released by the Census Bureau as part of the 2018 Annual Survey of Manufacturing, more than 30% of workers in the North American region require technical assistance for a variety of purposes, including transportation equipment, primary metals, plastics and rubber products, and used robots. Moreover, there has been a significant increase in the use of satellite communications in the defense sector for tracking activities, which is expected to further fuel the market growth in the region. Moreover, increasing adoption and implementation of advanced technologies in the form of M2M and IOT solutions in optical satellite communications is projected to boost the market growth in the region.
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Increasing Number of Digital Satellite Broadcasting to Propel the Growth in the Asia Pacific Region
The optical satellite communication market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The market growth is mainly due to the increasing number of digital satellite broadcasting and internet services in the region. According to the World Bank, 35.331% of South Asia’s total population used the internet in the year 2019, up from 18.785% in 2018 and 17.085% in the year 2017 respectively. China, which will boost the growth of the Asia-Pacific market, is expected to increase further. Moreover, increasing spending on space missions and expanding government initiatives for development are among the major factors expected to contribute to the growth of the market in the region. It is a type of optical communication technology that uses light propagating in free space to wirelessly transmit data for telecommunications or computer networks. “Free space” may refer to air, space, vacuum, and such things. In contrast, solid objects such as fiber optic cables and optical transmission lines. Technology can help when physical connectivity is impractical, for example due to high costs.
Optical Satellite Communication, Segmentation by Route of Application
- Backhaul
- Tracking & Monitoring
- Last Mile Access
- Earth Observation
- Research & Space Exploration
- Others
Amongst these segments, the backhaul segment in the optical satellite communication market is anticipated to hold the largest share over the forecast period. The growth of the segment can be accredited to the introduction of technologies such as M2M communication and the Internet of Things (IoT) are increasing the demand for high data rates. This is expected to drive the need for more backhaul connections. Apart from this, increasing mobile traffic is also being evaluated to drive the segmental growth. Owing to its ability to provide safety, the transmitter segment is estimated to gain the largest share during the forecast period. In the year 2020, there were over 8 million machine-to-machine connections across the globe. In addition, it has many advantages compared to HF satellite systems, such as higher capacity, more compact equipment, wider bandwidth and lower power consumption on non-approved interfaces. In addition, technological progress in optical satellite communications has improved the functional performance of optical wavelength security.
Optical Satellite Communication, Segmentation by Component
- Receivers
- Transmitters
- Modulator
- Others
Amongst these segments, the transmitters segment in the optical satellite communication market is anticipated to hold a significant share over the forecast period. The demand for high-speed data transfer is a primary growth driver for the transmitters segment in optical satellite communication. As the volume of data generated by satellites, especially in applications like Earth observation and remote sensing, continues to soar, there is a pressing need for communication systems capable of handling massive datasets efficiently. The transmitters segment is witnessing robust growth due to the increasing adoption of optical satellite communication in government and defense applications. Governments worldwide are investing heavily in secure communication technologies to safeguard national interests and ensure reliable data transmission for defense purposes. The U.S. Department of Defense has allocated a substantial budget for satellite communication programs, with an emphasis on secure and high-capacity data links. The fiscal year 2022 budget request for space programs reached USD 19 billion, underscoring the strategic importance of advanced communication systems.
Few of the well-known indsutry leaders in the optical satellite communication market that are profiled by Research Nester are ATLAS Space Operations, Inc., BridgeSat Inc., Hisdesat Servicious Estrategicos S. A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A., Ball Aerospace & Technologies Corp., Laser Light Communications Inc, and other key market players.
Recent Development in the Optical Satellite Communication Market
- Mynaric released the next generation, scalable optical communications terminal called CONDOR MK3 for a variety of satellite applications.
- Analytical Space won a contract worth USD 26.4 million for developing and launching six cubesats and two hosted payloads to establish a fast network for optical communications.
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