Space ground station equipment handle communication, tracking and control of satellites orbiting in space. These equipment include tracking antennas, terminals, frequency converters, radio transceivers, processing systems and control software. With growing telecommunication applications in areas such as television broadcasts, military communication and weather monitoring, demand for space ground station equipment is surging. The global Space Ground Station Equipment Market is estimated to be valued at US$ 12 Billion in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased telecommunication applications is one of the key trends driving growth of the space ground station equipment market. Rapid digital transformation across industries and development of 5G network globally has increased demand for connectivity via satellites in remote areas. Establishment of communication infrastructure via satellite can help extend digital access even in far-flung regions where laying cables is not feasible. Space ground station equipment play a vital role in facilitating this connectivity. Their abilities to support functions like satellite monitoring, communication and control enables the telecom industry to utilize satellites for networking applications effectively. This has accelerated adoption of space ground station equipment worldwide in recent years.
Segment Analysis
The global space ground station equipment market is segmented based on product type, deployment location, and application. Based on product type, the market is bifurcated into tracking and telemetry, command and control, data dissemination, and other products. The tracking and telemetry segment holds the largest market share as this equipment is used to track spacecraft in orbit and receive data from them. Based on deployment location, the market is categorized into space and ground. The ground segment leads the market due to the availability of a large number of ground stations across the globe. Based on application, the market is classified into commercial and government & military. The commercial segment dominates as space agencies across the world are increasingly collaborating with private players for activities like earth observation.
Key Takeaways
The Global Space Ground Station Equipment Market Share is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America holds the largest market share currently owing to the strong presence of space agencies like NASA and private players like SpaceX in the region. However, Asia Pacific is expected to grow at the fastest pace due to increasing government investment in space programs by countries like China and India.
Key players operating in the space ground station equipment market include SES S.A, Gilat Satellite Networks, Viasat Inc., Space Exploration Technologies Corporation, Inmarsat Global Limited, and Kongsberg Satellite Services. SES S.A leads the market with the largest global satellite fleet controlling over 70 satellites serving over 3.6 billion people. Inmarsat Global Limited provides global mobile satellite communications services worldwide serving multiple sectors including aviation, maritime, and government.
For more details on the report, Read- https://www.insightprobing.com/space-ground-station-equipment-market-demand/
