Satellite Connectivity Market will Hit Big Revenues by 2027

Space and communication sectors have been witnessed numerous developments in the past years to cater to the rising market demand for satellite communication. Technological developments in satellite components, miniaturization of parts, reducing launch costs, and increasing demand for stable connectivity in remote locations primary factors supporting market opportunities. The rise in research and development efforts and collaborations between space organizations and universities accelerates innovation in the space industry. Some of the major advancements identified within satellite connectivity and the space sector include multispectral communication, 3D printed electronic components, lasercom, and reusable rockets. These technologies are completely independent of each other; the commercial integration of these technologies has resulted in increased inefficiency and reduction in operational cost.

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The rise in the application of satellites for a range of activities like surveillance, real-time imaging, communication, navigation, weather forecasting, broadband and connectivity, research, development, and testing, and IoT integration for various government, commercial, and civil-military domains is leading to the evolution in the space industry. More than 6,000 satellites are expected to be launched within the forecast timeframe of 2020 to 2027 with rising YoY launch rates. The rise in satellite launches has generated demand for various satellite connectivity components and other peripheral systems, forcing industry players to explore new market verticals to cater to the demand.

The topography of a satellite constellation and frequency multiplexing will also play a significant role in defining the satellite connectivity market prospects. They are primarily four types of topography, namely, star topology, mesh topology, hybrid topology, and point to point topology. The rise in demand for establishing a secure connections for range of military operations require point-to-point network, whereas the requirement of a global telecommunication network will demand mesh topology.

The government space organizations, research and development centers, private players, and educational institutes are focused on developing more efficient integrated connectivity solutions to support the market space. For instance, SpaceX has established a constellation of 653 Starlink satellites that they plan to commercialize by April 2021. Tesat, a European satellite communication organization, is engaged in developing laser communication technologies with minimum uplink and downlink rates of 2Gbps.

Apart from various growth factors, the satellite connectivity market is also experiencing challenges such as increasing space debris and limited in-orbit space to launch new satellites. As of 2019, more than 500,000 pieces of debris are estimated to be present in space, which can cause potential damage to satellites and space vehicles. The aggressive approach by industry players like SpaceX and Amazon to launch 12,000 communication satellites by 2027 and 3,236 satellites over coming years to establish satellite constellations will significantly increase market competitiveness.

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Over the past years, the number of satellite launches has increased tremendously, owing to the low cost associated with their development and launch. The satellite connectivity industry is rapidly adopting to in-space small satellite constellations, setting the next big trend in the market. Increasing application of IoT and space-based connectivity solutions like autonomous driving, surveillance, and data analysis have generated demand to establish uninterrupted connections, investments are being made toward increasing the data transfer speed.