Global VSAT (Very Small Aperture Terminal) global market 2024, Forecast To 2033

The VSAT (Very Small Aperture Terminal) market has witnessed rapid growth, surging from $10.92 billion in 2023 to $12.53 billion in 2024, with a compound annual growth rate (CAGR) of 14.7%. The remarkable growth in the historic period is attributed to remote connectivity needs, emergency and disaster response, rural and remote broadband access, maritime and aviation communication, and military and defense applications. Looking ahead, the market is expected to experience rapid growth, reaching $20.85 billion in 2028 at a CAGR of 13.6%. The anticipated growth in the forecast period can be attributed to factors such as increasing maritime and aviation demand, initiatives promoting digital inclusion, cybersecurity and data protection measures, expansion of L-band and Ka-band, and the focus on emergency response and disaster recovery. Major trends expected in the forecast period include the implementation of high throughput satellites (HTS), the integration of 5G, increased adoption of IoT connectivity and M2M connectivity, the rise of satellite-as-a-service (SaaS), and the emphasis on cybersecurity and data protection.