The airborne SATCOM market size is projected to grow from USD 5.8 billion in 2019 to USD 7.8 billion by 2025, at a CAGR of 5.1% from 2019 to 2025
NEW YORK, March 4, 2020 /PRNewswire/ --
Increased demand for customized SATCOM on-the-move solutions is one of the major factors driving the airborne SATCOM market
Read the full report: https://www.reportlinker.com/p05868649/?utm_source=PRN
The airborne SATCOM market size is projected to grow from USD 5.8 billion in 2019 to USD 7.8 billion by 2025, at a CAGR of 5.1% from 2019 to 2025. The growing fleet of commercial and combat aircraft, increasing long-haul flights and passenger traffic, and demand for customized SATCOM on-the-move solutions are the major factors driving the airborne SATCOM market. Leading SATCOM equipment/system manufacturers are also coming up with advancements in SATCOM equipment used in commercial aircraft, military aircraft, and UAVs.
The new installation segment is estimated to grow at a higher CAGR during the forecast period due to the rising demand for airborne SATCOM systems.
Based on installation, the new installation segment of the market is projected to grow at the highest CAGR during the forecast period.The growth of this segment can be attributed to the deployment of advanced airborne SATCOM systems across commercial and military applications and increasing demand for new commercial aircraft orders from Asia Pacific and Europe.
Aircraft manufacturers and airlines across the globe are focusing on integrating newer generation airborne platforms to enhance situational awareness and passenger experience. For example, in 2018, Rockwell Collins received a contract worth USD 82.6million from the US Department of Defense (DoD) to supply mobile user objective system (MUOS)-capable airborne radios and ancillaries for DoD platforms including fixed and rotary-wing aircraft, ships, and ground installations.
The transceivers segment is expected to lead the Airborne SATCOM market in 2019.
Based on component, the transceivers segment of the market is projected to grow at the highest CAGR during the forecast period.SATCOM transceivers allow two-way communication using a single device.
The invention of transceivers has led to the development of several modern communication technologies such as two-way radios and the Internet.
The commercial segment is expected to grow at a higher CAGR during the forecast period
Based on application, the commercial segment of the airborne SATCOM market is projected to grow at the highest CAGR during the forecast period.The growth of this segment can be attributed to the increasing demand for enhanced passenger experience.
Major airlines such as Alaska Airlines, Southwest Airlines, Delta Airlines, and American Airlines are opting for the latest in-flight entertainment systems to enhance the passenger experience.
North America is estimated to account for the largest share of the airborne SATCOM market share in 2019.
North America led the airborne SATCOM market in 2019.The market in the region is highly competitive, owing to the presence of a large number of aircraft manufacturers such as Raytheon Company (US), General Dynamics Corporation (US), Honeywell International Inc (US), and Collins Aerospace (US).
Increasing passenger traffic, demand for new aircraft, and the rapid replacement of connectivity solutions with advanced ones. Various airlines operating in North America are focusing on upgrading their existing fleet to enhance the passenger travel experience.
• By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%
• By Designation: C Level Executives–35%; Directors–25%; and Others–40%
• By Region: North America–45%; Europe–18%; Asia Pacific–30%; and the Middle East & Africa–2%, and Latin America–5%
Major players operating in the airborne SATCOM market are Aselsan AS (Turkey), Raytheon Company (US), General Dynamics Corporation (US), Cobham Limited (UK), and Thales Group (France).
Research Coverage
The study covers the airborne SATCOM market across various segments and subsegments.It aims at estimating the size and growth potential of this market across different segments based on application, platform, components, installation type, frequency, and region.
This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall airborne SATCOM market and its segments.This study is also expected to provide region wise information about the applications, wherein airborne SATCOM systems are used.
This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, challenges, and opportunities influencing the growth of the market.
Read the full report: https://www.reportlinker.com/p05868649/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article