Global Optical Satellite Communication Market Size By Component (Transmitter, Receiver), By Application (Backhaul, Earth Observation), By Geographic Scope And Forecast

Optical Satellite Communication Market Size And Forecast

Optical Satellite Communication Market size was valued at USD 466.34 Million in 2021 and is projected to reach USD 4,068.26 Million by 2030, growing at a CAGR of 30.08% from 2023 to 2030.

The increase in the number of mobile phone users across the globe acts as one of the major factors driving the Optical Satellite Communication Market. Also, rapid digitization across various industries demands services such as surveillance and security, and enterprise connectivity, among others drives the market growth. The Global Optical Satellite Communication Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Optical Satellite Communication Market Definition

Optical satellite communication is a wireless telecommunication network that operates on optical frequency as a medium to deliver data signals at a 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 systems that include a wider bandwidth, larger capacity, low power consumption, better security measures, more compact equipment, and 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 the government and key players in the telecommunication industry would help to improve connectivity and increase the Optical Satellite Communication Market.

Global Optical Satellite Communication Market Overview

The demand for large-scale communication via satellites is a key driver for the prospects of optical satellite communication. The range of applications continues to impart momentum to the growth of the Optical Satellite Communication Market. A case in point is the growing use of optical satellite communication in quantum key distribution (QKD). Various advantages of wireless communication such as lower deployment cost, easy construction of network topology, and flexible maintenance of operating networks have increased the number of mobile users globally.

Moreover, increasing multimedia services such as video-on-demand, audio-on-demand, and peer-to-peer have increased the need for high network bandwidth. However, high costs associated with the implementation and lack of technical expertise are expected to obstruct market growth. The time delay decreases the work efficiency of optical satellite communication and is projected to challenge the Optical Satellite Communication Market.

In addition, the increasing adoption of various advanced technology such as machine-to-machine communication and the Internet of Things also drives the demand for high data rates which has accelerated the Optical Satellite Communication Market globally. In addition, governments of different nations are putting resources into various optical communication tasks to grow high information rate joins. For example, in the recent past, NASA consented to an arrangement with BridgeSat Inc. to build up a space optical communication framework for the office.

Global Optical Satellite Communication MarketSegmentation Analysis

The Global Optical Satellite Communication Market is segmented on the basis of Component, Application, And Geography.

Optical Satellite Communication Market, By Component

• Transmitter
• Receiver
• Modulator
• Demodulator
• Others

Based on Component, the market is segmented into Transmitter, Receiver, Modulator, Demodulator, and Others. The Transmitter segment dominated the market for Optical Satellite Communication in 2021. Expanding demand for fast information exchange from satellite to the ground is one of the main considerations in charge of the extension of the fragment. High information rates have expanded the demand for consistent R&D in optical satellite communication components. In addition, quick infiltration of route work in shrewd advanced hardware and associated vehicles among other area-based working frameworks, therefore driving the transmitter segment growth.

Optical Satellite Communication Market, By Application

• Backhaul
• Earth Observation
• Research and Space Exploration
• Surveillance and Security
• Telecommunication
• Tracking and Monitoring
• Others

Based on Application, the market is segmented into Backhaul, Earth Observation, Research and Space Exploration, Surveillance and Security, Telecommunication, Tracking and Monitoring, and Others. The Surveillance and Security segment dominated the market for Optical Satellite Communication in 2021. The high selection of satellite innovation by military and government security offices for surveillance and security has quickened the market in this application. The prerequisite for continuous information and high information rates have quickened the demand for optical communication in observation and security applications.

Optical Satellite Communication Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Based on Regional Analysis, the Global Optical Satellite Communication Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific region has the greatest market share and is expected to grow at the highest CAGR over the forecast period 2021. The U.S. also, Canada are the real driving motors of this locale. High spending on space ventures from government collections of nations in North America is a central point driving the market in the area.

Likewise, the huge nearness of market players in nations of North America is additionally a noteworthy explanation behind the predominant position of the district in the worldwide market solution in the U.S. and Canada. These countries heavily invest in new technologies and R&D. In addition, countries in the region, such as the U.S., use satellite communication in the defense sector to track defense activities globally from orbit.

Key Players

The “Global Optical Satellite Communication Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as 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.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In 2021, NASA, a US-based space agency, launched its new Laser Communications Relay Demonstration (LCRD) system. The LCRD will help the agency with optical communication in space.
• In November 2021, CACI, a US-based information technology company, acquired SA Photonics for a deal amount of $275 million. Through this acquisition, CACI will broaden its capabilities and services in the areas of free-space optical (FSO) communication, laser communications provider, supporting space, and airborne and terrestrial communications.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Optical Satellite Communication Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Optical Satellite Communication Market gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

Top Trending Reports–

Research Methodology of Market Research