SATCOM Transceivers Market - Regional Analysis
North American Market Forecast
North America industry is predicted to dominate majority revenue share of 35% by 2035, ascribing to the growing launch of satellites to provide 5G internet connectivity and strong presence of prominent market players in the region. Also, the rising government spending on military and government communication networks along with the presence of major key players. According to recent statistics, it has been stated that the United States government spending spent almost USD 60 billion on its space programs in 2022, making it the country with the highest space expenditure in the world.
APAC Market Statistics
Asia Pacific SATCOM transceivers market is estimated to be the second largest, registering a share of about 24% by the end of 2035. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing investments in space programs, mainly by the Indian government. In FY 2020, government expenditure on the space sector in India reached a value of more than USD 18 billion, up from USD 15 billion in FY 2019 and USD 10 billion in FY 2018, respectively. In addition, the rise in the launch of satellites for scientific research & development is also expected to fuel the market growth in the region in the coming years.
Europe Market Forecast
Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market in the region is primarily attributed to the rising smart city and infrastructure modernization projects along with space exploration activities. Another factor for market growth is the escalation in the demand for advanced satellite communication services in the region.
