Satellite Operation Service Market Size, Share, Growth, And Industry Analysis, By Type (Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, Space Flight Management Services and Others), By Application (Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise and Others), Regional Forecast From 2024 To 2031

Updated On: 22 April 2024

SATELLITE OPERATION SERVICE MARKET REPORT OVERVIEW

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The global satellite operation service market size expanded rapidly in 2022, as per our research, the market is expected to generate substantial revenue by 2031, a robust CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the satellite operation service market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over. 

The term "satellite operation services" entails the oversight and management of orbiting satellites encompassing tasks such as observing their operation, modifying their orbits, and carrying out repair procedures. There are several applications for satellite services, including broadcast television and telecommunications. As with the GPS system, which gives customers latitude and route data, they are also employed for navigation systems. Using these technologies for earth observation for things such as meteorological, environment, and emergency management is another factor. The study of the earth's atmosphere, seas, and climate as well as the study of other galaxies and astronomical objects employ operation services in addition to other science investigation.

One of the main factors favorably affecting the market is the rapid urbanization and rising smart city development projects. The increasing need for high-speed digital services is also a factor in the market's expansion. In addition, the extensive use of satellite operation services for continuing environmental management and surveillance as a result of increased worries about destruction of the environment is enhancing the market picture. Another growth-promoting aspect is the growing use of the service software for frontier and power resource monitoring. Additionally, increasing corporate and governmental expenditures in a variety of international infrastructure improvement projects are providing manufacturers with lucrative new growth prospects. Additionally, technological developments in the aerospace sector are predicted to drive market expansion.

COVID-19 Impact: Suppliers were Forced to Reduce their Management Services due to decline in demand

COVID-19 has significantly sparked societal segregation standards and prohibitions, which has impacted the total market for satellite operation services. The lockdowns and outbreak that followed had a significant effect on the industrial sector's supply and demand side. Lockdowns were also enforced on satellite manufacturers' manufacturing, which in turn caused difficulties in the quantity of launches, which messed with the operator's launch schedules for different orbits. Additionally, due to a drop in demand for production and sales, satellite suppliers had curtailed their management services and R&D.

Latest Trends

"Partnership with Local Distributors to Offer Connection Services for Different Modes of Transport "

Inmarsat began offering connection services in Saudi Arabia in 2020 for ground, marine, and air transport. Clients will be offered the company's industry-leading maritime, aviation, and corporate networking services in partnership with local players. Inmarsat has chosen Sada Al Ammah and Global Beam Telecom as its first dealers and distributors in Saudi Arabia. Global Beam Telecom is a significant mobile and fixed satellite operation service distributor. This should aid the business in growing its market share.

SATELLITE OPERATION SERVICE MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, Space Flight Management Services and Others

• By Application Analysis

Based on application, the market can be divided into Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise and Others

Driving Factors

"Growing 5G Adoption in the Fixed Service Segment is Driving the Demand of the Market "

Over the projected time frame, rising 5G adoption is anticipated to fuel additional market expansion. This is due to the fact that the 5G connection employs fixed satellites to create connections, thus as utilization of the connection between customers increases, the business is anticipated to expand even more. There has been research done on the topic of fixed satellite services and 5G new radio cellular systems sharing the 28 GHz spectrum. The primary goal of this approach is to simulate a sharing situation between the uplinks of the FSS system and the 5G NR enhanced mobile broadband (eMBB) grid synchronization. Thus, this factor is anticipated to boost the satellite operation service market growth during the forecast period.

"Rising Investments in Defense Satellite Communications is Expected to Aid the Market Growth"

The military and defense industries are implementing satellite technology for use in networking, global navigation systems, object tracking, and other purposes. For instance, the U.S. Air Force runs Military Strategic and Tactical Relay (MILSTAR) satellite communication networks to ensure the safety of army communications all over the world. China launched the military satellite TJS (Tongxin Jishu Shiyan) 7 in August 2021. The Chinese military collects intel and provides advanced detection using the TJS satellites. Due to the widespread use of these satellite operation services in many other applications, there is an increase in spending in military satellite communications. As an illustration, in August 2021, the Defense Science and Technology Laboratory (Dstl) awarded a contract of USD 11.91 million to In-Space Missions Ltd for the construction of the Titania satellite for military space telecommunications.

Restraining Factors

"High Costs and Regulatory Challenges make it Difficult for Companies to Operate in the Industry"

A satellite's launch, operation, and upkeep can be quite expensive, which can restrict the number of businesses that can enter the market. Furthermore, businesses wishing to operate in several markets may face difficulties due to the complicated and inconsistent regulatory environments that can exist for satellite operation services across different nations. Companies may find it difficult to join and operate in the satellite services market as a result of these considerations.

SATELLITE OPERATION SERVICE MARKET REGIONAL INSIGHTS

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"Existence of Major Players and Cutting-edge Infrastructure in the Area are Propelling the Regional Market"

Due to the presence of cutting-edge infrastructure and the expanding need for remote sensing data services from a variety of end use sectors, North America is predicted to account for a sizable portion of global income. Additional factors that are anticipated to help the expansion of the target audience in this area include the existence of significant companies operating in the nation and heavy investment levels for offering innovative solutions. Additionally, growing consumer desire for satellite television and broadband services with great results is propelling the satellite operation service market share expansion.

Key Industry Players

"Key Players Focus on Joint Ventures and Partnerships to Gain a Competitive Advantage"

There are a few key companies in the fiercely competitive satellite operation services industry. A small number of the top players today control a large portion of the market. These companies, who already have significant competitive advantage, are concentrating on growing their clientele abroad. To enhance their sales and profitability, these businesses are continuously looking for strategic joint ventures. In order to improve the abilities of their products, the market players are increasingly partnering with or acquiring satellite service providers.

List of Market Players Profiled

• Inmarsat plc (U.K.)
• MEASAT (Malaysia)
• PCCW Global (Hong Kong)
• Intelsat (U.S.)
• SES S.A (Luxembourg)
• Eutelsat Communications SA (France)
• Viasat, Inc (U.S.)

Report Coverage

This report covers the satellite operation service market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.