Market Research Future (MRFR) has published on the “Global Micro VSAT Market”.
The Micro VSAT market is estimated to register a CAGR of 4.2% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Micro VSAT market—Ultra, THALES GROUP, ThinKom Solutions, Inc., Ovzon AB, L3Harris Technologies, Inc., Paradigm, Intellian Technologies, Inc., China Starwin Science&Technology Co.Ltd (China Starwin), Jonsa Technologies. Co. Ltd., Cobham Satcom, General Dynamics Corporation, and KVH Industries, In and others.
The global Micro VSAT market is accounted for to register a CAGR of 14.2% during the forecast period and is estimated to reach USD 1,585.70 million by 2032.
The Micro Very Small Aperture Terminal (Micro-VSAT) enables expeditionary satellite communications in remote locations. This versatile non-program of record ground satellite terminal can be operated by a single general-purpose user and quickly sets up for increased agility and mobility. VSAT refers to any two-way satellite ground mounted or stabilised maritime VSAT antenna with an antenna (dish) smaller than 3 metres; people generally use the term VSAT to refer to any two-way satellite Internet terminal that is not a teleport Earth Station. VSAT antennas can be vehicle mounted, maritime stabilised, fixed, or portable. Within each of the above categories, there are a variety of VSAT hardware manufacturers, allowing each satellite company to design a VSAT to meet their customers' specifications and the requirements of the selected satellite network. The massive growth in satellite capacity has resulted in a significant price drop, making micro VSAT a viable solution for many industries and regions for the first time. Furthermore, there has been an increased adoption of in micro VSAT technology in industries such as maritime, oil & gas, aviation among others. These systems also provide the required connectivity between users of medical applications, databases, video, and phones at remote locations, and allow communication with remote and mobile sites. Growing demand for VSAT in the maritime industry, low investment and operating costs, and increasing demand for broadband data connections from government and business sectors are some of the significant factors driving the growth of the micro VSAT market.
The global Micro VSAT market has been segmented based on frequency, application, antenna technology ,industry vertical.
Based on frequency, the market is segmented into Ku-Band, Ka-Band, X-Band, and Others. The Ka-Band segment was attributed to holding the largest market share in 2022 with a market share of ~40% revenue as estimated by MRFR analysts.
Based on application, the global Micro VSAT market has been segmented into airborne, maritime, and land. The land,segment was expected to hold the largest market share in 2022.
Further, based on the antenna technology, the market is segmented into parabolic and flat panel. The parabolic segment is projected to have the largest market share during the forecast period.
Further, based on the industry vertical, the market is segmented into aviation, energy & power, government, military & defense, maritime, oil & gas, construction & infrastructure, media & entertainment, mining, other. The military & defense segment is projected to have the largest market share during the forecast period.
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The global Micro VSAT market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Micro VSAT market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Micro VSAT market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Micro VSAT market comprises of Middle East, Africa, and Latin America.
The rise is backed up by increasing number of operational cell phones within the region. US dominates in the North America region owing to rising utilization of micro VSAT in military & defense applications. Furthermore, key player presence in the US market is driving the demand for VSAT in the region. For instance, L3Harris Technologies Inc was awarded a USD 100 million contract from the USSOCOM (United States Special Operations Command) in January 2020 for VSAT upgrades.
Moreover, Furthermore, growth in the space industry is one of the major factors fueling market growth. Increasing number of space exploration missions, rising interest in satellite-aided warfare, improved deployment of small satellites, and cost-effective satellite launch operations are factors expected to fuel the expansion of the micro VSAT market size in Europe. Moreover, increasing number of providers are offering new and innovative micro VSAT solutions for business continuity.
Additionally, market factors, The growth of this region is attributed to the demand for advanced VSAT systems in maritime industry is driving the market. The demand for always-on connectivity has expanded across the globe in recent years, with requirements for narrowband and broadband applications in remote, underserved, and mobile locations comprising a large proportion of the market. The massive growth in satellite capacity has resulted in a significant price drop, making very small aperture terminals (VSATs) a viable solution for many industries and regions for the first time.
Key Findings of the Study