SATCOM On The Move Global Market Is Projected To Grow At A Rate Of 19% Through 2023 – 2027
24 May, 2023
The global SATCOM on the move market size is expected to grow from $22.48 billion in 2022 to $26.78 billion in 2023, at a compound annual growth rate (CAGR) of 19.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The SATCOM on the move market is expected to grow to $53.79 billion in 2027 at a CAGR of 19.0%.
Global SATCOM On The Move Market Key Driver
The growing demand for customized SOTM solutions for unmanned ground vehicles (UGV) drives the growth of the SATCOM on the move market. The term "unmanned ground vehicle" refers to robotic devices that operate on the ground without the assistance of a human operator. The SATCOM-on-the-Move technology can be applied to a variety of potential UGVs for land operations to improve mission performance, combat effectiveness, and worker safety. These include locating, removing, and navigating minefields and other obstacles. For instance, in December 2021, according to the annual report 2021 published by General Dynamics, a US-based aerospace and defense corporation, the company reported an increase in US revenue for its technology segment, which encompasses a mission system product line consisting of SATCOM on the move antennas for a ground vehicle, which was $11.72 billion in 2020 and increased to $11.81 billion in 2021. Therefore, the increasing demand for customized SOTM solutions for unmanned ground vehicles is driving the growth of the SATCOM on the move market.
Get a sample of the global SATCOM on the move market reportGlobal SATCOM On The Move Market Segments
The global SATCOM on the move market is segmented:
1) By Type: Equipment, Service
2) By Frequency: C Band, L Band, S Band, X Band, Ka Band, Ku Band, UHF Band, SHF Band
3) By Platform: Land Mobile, Airborne, and Maritime
4) By Vertical: Commercial, Government, And Defense
5) By Geography: The regions covered in the SATCOM on the move market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accountsfor the largest share in the global SATCOM on the move market.
Major SATCOM On The Move Industry Players
ST Engineering, L3 Harris Technologies, Thales Group, Viasat Inc., Gilat Satellite Networks, Aselsan, Hughes Network Systems LLC, General Dynamics, BAE Systems plc, Elbit Systems Ltd., Ball Corporation, Cobham Limited, Space Star Technology, Avanti Communications, and Eutelsat S.A.
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SATCOM On The Move Market Overview
SATCOM on the move refers to a vehicle (usually on the ground, but occasionally also marine or airborne) equipped with antennas to connect to satellite networks and maintain that connection while the vehicle is in motion. SOTM improves mobility for satellite networks and provides truly global on-the-go access. A moving vehicle can use SOTM to transmit live, high-definition audio and video to the central station. It also allows users to have phone conversations, video conferences, and connect to the internet at high speeds.
SATCOM On The Move Global Market Report 2023 provides data on the global SATCOM on the move market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The SATCOM on the move market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.