Satellite Communication (SATCOM) Market to Hit USD 56.74

Pune, India, Oct. 14, 2022 (GLOBE NEWSWIRE) — The global satellite communication (SATCOM) market size was valued at USD 27.56 billion in 2021. It is projected to grow from USD 29.98 billion in 2022 to USD 56.74 billion by 2029 at a CAGR of 9.54% during the forecast period. The market is anticipated to grow remarkably well due to the growing number of space exploration activities over the period. Fortune Business Insights™ stated this in a report titled, “ Satellite Communication (SATCOM) Market, 2022-2029.”

COVID-19 Impact:

A substantial impact has been observed on the aviation sector during the COVID-19 outbreak. Factors such as reduced procurement contracts and slow production rates from Original Equipment Manufacturers (OEMs) harm the market growth. Furthermore, limited export and import of essential raw materials and production challenges amid enforced border restrictions by governments in several countries have lowered the demand for the product.

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https://www.fortunebusinessinsights.com/enquiry/sample/satellite-communication-satcom-market-102679

List of the Companies Profiled in the Report:

• Qualcomm Technologies, Inc. (U.S.)
• Viasat, Inc. (U.S.)
• KVH Industries, Inc. (U.S.)
• Boeing (U.S.)
• Cobham Limited (U.K.)
• Communications and Power Technologies (U.S.)
• Honeywell International Inc. (U.S.)
• Inmarsat Global Limited (U.K)
• Iridium Communications Inc. (U.S.)
• L3Harris Technologies, Inc. (U.S.)

Report Scope & Segmentation: