The Satellite Antenna Market is is projected to reach USD $2.99 Billion by 2022, increasing from USD 2.05 Billion in 2017, at a CAGR of 7.85% during the forecast period. The growth of this market is driven by the demand for advanced, energy-efficient, and lightweight antennas, which offer enhanced life span, functionalities, and reliability in a cost-effective way.
This projection is the part of report "Satellite Antenna Market by Antenna Type (Parabolic Reflector, Flat Panel, FRP, Horn, Iron), Component (Reflector, Feed Horn, Feed Networks), Platform (Land, Space, Maritime, Airborne), Frequency Bands (K/KA/KU, C, X), & Region - Global Forecast to 2022", published by MarketsandMarkets.
The parabolic reflector antenna segment is estimated to hold the largest share of the satellite antenna market in 2017 and is also expected to be the largest segment throughout the forecast period. However, the flat panel antenna segment is projected to grow at the highest CAGR during the forecast period due to the rise in use of small satellites for navigational purposes as well as for surveillance by defense authorities worldwide. There has been an increase in research and development activities for satellites in the US as well as in emerging economies, such as India and China, over the past few years, which is pushing the growth of parabolic reflector antenna segment worldwide.
Satellite systems are now a vital part of the global ecosystem and continue to play a major role in daily lives of people across the world. Satellite systems are used in a wide array of applications, such as telecommunications, weather monitoring, TV broadcasting services, military, and navigation, among others. This has resulted in the increasing demand for satellite antennas to cater such applications. Based on platform, the land-based satellite antennas segment is expected to dominate the satellite antenna market. Land-based satellite antennas are widely used to obtain real-time information during warfare. Detection of objects, tracking, and reporting functions are performed by military satellite antennas. Furthermore, land-based systems can effectively locate unexploded ordinance and tunnels. Movement near exterior walls as well as critical infrastructures and buildings can be traced using land-based satellite antennas. Land-based satellite antennas are used, along with airborne, naval, and space satellites for target integration.
The major driver for the satellite antenna market in North America is technological advancements, which have led to an improvement in antenna transmission capacity and in minimizing the cost of launching satellites for commercial and military applications. The latest developments in technologies, such as propulsion technology and spacecraft design, and advancements in Earth observation services have also contributed towards the growth of this market. Moreover, the high demand for satellites from NASA, the US Department of Defense, and the private sector, along with the rising demand for satellites in the defense sector due to their contribution in terms of providing persistent surveillance fuel the satellite antenna market.
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