Satellite Communication Market Outlook On The Basis Of Component, Application, Vertical, Region And Forecast From 2021 to 2028: Grand View Research Inc.
San Francisco, 12 Aug 2021: The Report Satellite Communication Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Broadcasting, Airtime), By Vertical, By Region, And Segment Forecasts, 2021 - 2028 The global satellite communication market size is expected to reach USD 137.63 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.8% from 2021 to 2028. The growing adoption rate of small satellites in the defense industry for applications, including geospace and atmospheric research, tactical communication, and medium resolution imagery, is anticipated to propel the market growth. Besides, the escalating demand for satellite communication (SATCOM) solutions in the aviation sector for better airline operations and air traffic management is expected to boost the market growth in the forthcoming years. With the rise of the 5G network and launches of several scheduled Low Earth Orbi