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Optical Satellite Communication Market Size, Industry Share and Growth Rate 2019-2026
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Region : Global | Report ID: FBI100860 | Status : Ongoing
KEY MARKET INSIGHTS
Optical satellite communication is a wireless telecommunication network that operates on optical frequency as a medium to deliver data signals at high bit-rate. Optical satellite communication uses free space as a medium for communication. The optical satellite consists of a transmitter, receiver, and channel. Optical satellite communication has various advantages over RF satellite system that include a wider bandwidth, larger capacity, low power consumption, better security measures, more compact equipment, higher immunity against unauthorized interfaces.
Governments of various countries are investing in resources for the development of optical satellite communication to generate a high information rate. The increasing investments by government and key players in the telecommunication industry would help to improve the connectivity and increase the optical satellite communication market. According to the sources, during 2016-2018, SpaceX constellation has invested around US$ 1,185 Mn for various space projects including ‘The Big Falcon Rocket’, ‘Falcon 9’ and others. Furthermore, the global space economy was estimated at around US$ 345 Bn by the end of 2017.
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Rising market of direct to home television (DTH) and GNSS products and services are expected to drive the growth of this market in the forecast period. For instance, in 2017, the global DTH market was valued at around US$ 100 Bn and global GNSS products and services market was valued at about the US $85 Bn.
Growth in mobile and other smart devices traffic has also boosted the demand for additional bandwidth and a large number of backhaul connections. For instance, according to sources, by the end of 2022, smartphone users are anticipated to reach around a value of 6.65 billion, from 4.20 billion in 2017. Optical satellite communication can handle wide bandwidth and high gigabit capacity backhaul links.
Key Players Covered
Key players in global optical satellite communication market are ATLAS Space Operations, Inc., Analytical Space Inc., Hisdesat Servicios Estrategicos S.A., BridgeSat Inc., Mitsubishi Electric Corporation, Maxar Technologies Ltd., SITAEL S.p.A, Mynaric AG, Laser Light Communications Inc., and others.
· Surveillance and Security
· Earth Observation
· Tracking and Monitoring
· Research and Space Exploration
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
North America is expected to dominate the global optical satellite communication market in terms of revenue in the forecast period. This substantial growth is owing due to the implementation of advanced technologies such as IoT and M2M solutions in optical satellites. However, Asia-Pacific is anticipated to witness the highest growth rate during the forecast period. This growth is mainly due to the rise in spending in space missions and collaboration between different countries government in emerging economies such as India, and South Korea. For example, in 2018, ISRO (space agency of India) and CNES (space agency of France) merged for an earth observation operation for high-resolution imaging ability in optical technology.
Key Industry Developments
- January 2019 – NASA launched the ‘Laser Communication Relay’ system. Laser Communication Relay Demonstration venture helps to dispatch an optical information transmission satellite framework into the geostationary circle.
- PUBLISHING STATUS: Ongoing
- BASE YEAR: 2019
- HISTORICAL DATA: 2016-2018
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