Northbrook, IL 60062 -- (SBWIRE) -- 05/05/2023 -- The satellite ground Station market is estimated at USD 61.5 billion in 2023 and is projected to reach USD 115.4 billion by 2028, at a CAGR of 13.4 % from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth can be attributed to the increasing need for secure satellite communications for commercial applications and military mission.
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Ground Station as a Service (GSaaS) segment is expected to account for the largest share in 2023.
By Solution, the Satellite Ground Station market is segmented into Ground Station as a Service, Equipment, software. Ground Station as a Service (GaaS) is a growing trend in the SGS industry that entails providing ground station services to satellite operators on a pay-per-use or subscription basis. GaaS allows satellite operators to obtain ground station services without investing in and maintaining their own infrastructure, making it a cost-effective alternative for both small and large-scale satellite operators. In the forecasted years, the global demand for satellite-based services and the rising number of satellite launches are likely to propel the SGS market, particularly the GaaS sector, to considerable growth.
The Mobile segment held the largest growth rate in the Satellite Ground Station market.
By platform, the Satellite Ground Station industry has been segmented into Fixed, Mobile and Portable.
Mobile Segment to hold the highest growth rate during the forecast period. This are widely adopted for the military and defence applications to provide real-time communication and situational awareness. additionally, they can be easily employed in rural, or disaster affected area. Easy deployment and enhanced connectivity to drive the market for the segment.
The Communication segment of the Satellite Ground Station market by function is projected to dominate the market.
The Satellite Ground Station marketed based on the orbit is segmented into the communication, earth observation, navigation, space research and others. Communication segment to hold the highest market as well the highest growth rate during the forecast period. The rapid development in the miniaturization of space technology have made the deployment of communication satellites contributes to the growth of the market.
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North America is to hold the highest growth rate in 2023.
The Satellite Ground Station market industry has been studied in North America, Europe, Asia Pacific, Rest of the World. The North America region to account for the highest growth rate during the forecast period. Due to the presence of major satellite ground station manufacturer in the region to enhance the growth of the market.
Major players operating in the Satellite Ground Station companies General Dynamics Corporation (US), Raytheon Technologies Corporation (US), Airbus SE (Netherlands), Lockheed Martin Corporation (US), and Kongsberg Gruppen ASA (Norway) are some of the market players.
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