The satellite modem market is estimated to grow from USD 403 million in 2021 to reach USD 710 million by 2026; it is expected to grow at a CAGR of 12.0% from 2021 to 2026. A few key factors driving the growth of this market are rising need for enriched high-speed data communication, increase in the number of high-throughput satellites (HTS), and growing demand for satellite communication in internet of things (IoT).

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Opportunity: Increasing launches of LEO satellites and constellations

CubeSats and other small satellites are also gaining attention; many companies in this marketspace have proposed or are implementing plans to build satellite constellations. For example, Starlink had 356 satellites in orbit from 2019 to May 2020. As of August 2021, there were 1600 Starlink satellites in the orbit. SpaceX is also in the race to deploy small LEO satellites and has filed paperwork for up to 42,000 satellites for the constellation. Amazon is investing over USD 10 billion to build a constellation of 3,236 low-earth orbit satellites as a part of its global space internet initiative, Project Kuiper.

“The satellite modem market for MCPC satellite modem is expected to grow at a higher CAGR from 2021 to 2026.”

The satellite modem market for MCPC channel type is expected to grow at a higher CAGR from 2021 to 2026. The growth of this segment is attributed to the unparalleled channel efficiency offered by these modems, which is the core requirement of high-data-traffic applications, such as mobile communication, internet, and broadband services. MCPC satellite modems can be integrated with IP networks to provide seamless connection for voice, video, and data traffic. Broadband internet services for enterprise networks are possible through MCPC modem technology because of its high data rate capacity over satellite technology.

“The satellite modem market for transportation and logistics end-user industry is expected to grow at the highest CAGR during the forecast period.”

The satellite modem market for transportation and logistics end-user industry is expected to grow at the highest CAGR during the forecast period. In transportation and logistics, there is a constant need to transfer real-time data, including vehicle location, traffic density, video and audio, temperature range of vehicles transporting perishables, and emergency notifications. To transmit and receive such data, high-speed data rate satellite modems, which can set up a communication channel between the vehicle and the monitoring center, are used. Satellite modems also increase the accuracy and speed of the Global Positioning System (GPS).

“Satellite modem market in APAC to grow at highest CAGR during the forecast period.”

The satellite modem market in APAC is expected to grow at the highest CAGR from 2020 to 2025. This market will be driven by the growing demand for metals such as steel for complex industrial applications. China, Japan, South Korea, and India are expected to drive the market in APAC. China remains the largest market for satellite modems and is anticipated to remain dominant throughout the forecast period. Investments for the expansion of glass manufacturing and government support for steel production are set to offer huge opportunities for the market in APAC.

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Key Market Players

Comtech Telecommunications Corp. (US), ST Engineering (Singapore), Teledyne Technologies (US), Gilat Satellite Networks Ltd. (Israel), Viasat, Inc. (US), ORBCOMM Inc. (US), NOVELSAT (Israel), Datum Systems (US), Hughes Network Systems (US), WORK Microwave GmbH (Germany), ND SATCOM (Germany), Amplus Communication (Singapore), AYECKA Ltd (Israel), and SatixFy (Israel) are few major players in satellite modem market.