Satellite Communication (SATCOM) Market to Reach USD 159.6 Billion by 2031; Rising Use of Autonomous Technologies
Global Satellite Communication (SATCOM) Market size was valued at USD 159.6 Billion by 2031 in the forecast period (2024-2031). The increasing use of Satcoms in government and security agencies is contributing to the high demand for HTS capabilities. Government agencies have increasingly relied on sensor data and ISR platforms to transform their work environments. These platforms facilitate the sharing of valuable information such as real-time HD video acquired from remotely piloted airborne systems (RPAS) or unmanned aerial vehicles (UAVs).
Increasing Internet of Things (IoT) Integration in Aviation Industry to Drive Market Growth
The Internet of Things (IoT) has entered the industry and SATCOM is expected to increase its market share. Some 2.7 million devices are operated by satellites, according to a survey by the EMEA Satellite Operators Association. It includes industrial equipment, environmental monitoring, military support, ships and aircraft. The rise of IoT in the aviation industry is expected to fuel the market's growth during the forecast period. Flight services for IoT-based devices and systems exchange real-time data for service units, which helps improve efficiency in the aviation industry.
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Rising Cybersecurity Concerns to Hamper Market Growth
Cybersecurity threats to satellite communications are relatively new, they still pose a serious threat to the sustainability of satellite systems due to multiple vulnerabilities. These vulnerabilities are very critical and affect communication, launch systems, tracking, command and telemetry. Such features of satellite communication are highly dependent on secure and reliable communication systems. Due to the interdependence of satellites and cyber operations, these capabilities are increasingly dependent on international organizations to set legal standards to protect satellites and their communications.
Companies operating in the global satellite communication (SATCOM) market must allocate resources to develop and deploy robust cybersecurity technologies. This may include encryption protocols, intrusion detection systems, and routine security audits for vulnerabilities.
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Rising Use of Autonomous Technologies and Real-time Data Monitoring Via Satellites to Support Market Growth
Autonomous technologies are based on artificial intelligence, data analytics and cloud computing. This technology helps improve aircraft performance. In the military, autonomous technology is used to manage combat infrastructure and conduct combat operations. Sensors embedded in systems play an important role in providing real-time data collected from their environments. It is further analyzed and used for health monitoring and tracking systems. It covers high performance products and systems, maintenance, repair, overhaul (MRO) operations, road mapping & transportation purposes. The efficiency of all these systems will be improved and operating costs reduced.
What Lies Ahead of Satellite Communication (SATCOM) Market
The future prospects of the global satellite communications (SATCOM) market are incredibly promising, with technological advancements, increasing demand for communications, and increasing importance of satellite-based services. In various sectors enabling communication in remote areas, and maritime aviation operations also play an important and driving role in bridging this digital divide, with the proliferation of high-performance satellites (HTS). Subsequent satellite constellations live as a deployment of low earth orbit (LEO) and medium earth orbit (MEO) satellite networks ready to change the landscape.
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