Satcom equipment market to reach $53.7 billion by 2026: Report

NEW DELHI: The satellite communications (satcom) equipment market is projected to grow from $22 billion in 2021 to $53.7 billion in 2026, at a compound annual growth rate (CAGR) of 19.6% and this will be driven by the commercial segment, according to a report by Research And Markets.

The deployment of low earth orbit (LEO) satellites and the constellation of satellites has increased the demand for satcom equipment across the globe. Other factors include growing demand for Ku-band and Ka-band satellites and the growing fleet of autonomous and connected vehicles which require customized satcom-on-the-move antennas, the global research firm said.