Satellite Communication (SATCOM) Market Size, Share, Growth Analysis, By Components(Equipment (SATCOM Transmitter/Transponder, SATCOM Antenna, SATCOM Transceiver, SATCOM Receiver), By Application(Asset Tracking/Monitoring, Airtime (M2M, Voice, Data)), By Verticals(Energy & Utility, Government & Defense (Government, Emergency Responders, Defense)), By Frequency Band(L-band, S-band, C-band, X-band), By Satellite Constellations(Low Earth Orbit (LEO) Satellites, Medium Earth Orbit (MEO) Satellites, Geostationary Equatorial Orbit (GEO) Satellites), By Region - Industry Forecast 2024-2031

Global satellite communication (SATCOM) market size was valued at USD 82.80 billion in 2022 and is poised to grow from USD 90.75 billion in 2023 to USD 188.94 billion by 2031, growing at a CAGR of 9.60% in the forecast period (2024-2031).

Satellite communication is the use of artificial satellites to provide communication links between various points on Earth. A communication satellite is an artificial satellite that uses a transponder to amplify and connect radio telecommunications signals. It establishes a communication channel between a source transmitter and a receiver that is distributed across the globe. Satellite communication is widely used in television, telephone, radio, internet, and military applications.

The high-frequency radio waves used for telecommunications links travel in a straight line and are thus obstructed by the earth's curvature. The vital role of communication satellites is to connect the signal around the curve of the earth, allowing communication between geographically separated locations. Satellite communication employs a wide range of radio and microwave frequencies. International organizations have regulations governing which frequency ranges or bands are assigned to specific organizations to avoid signal interference. The allocation of bands thus reduces the risk of signal interference.

US Satellite Communication (SATCOM) Market is poised to grow at a sustainable CAGR for the next forecast year.