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(IT-NEWSWIRE.COM, August 29, 2020 ) The Airborne SATCOM Market size is projected to grow from USD 5.8 billion in 2019 to USD 7.8 billion by 2025, at a CAGR of 5.1% from 2019 to 2025. The market is driven by factors such as the growing fleet of commercial and combat aircrafts, increasing long-haul flights and passenger traffic, and demand for customized SATCOM on-the-move solutions.
Key Market Players
Major players in the airborne SATCOM market are Aselsan AS (Turkey), General Dynamics Corporation (US), Cobham Limited (UK), Gilat Satellite Networks Ltd (Israel), Collins Aerospace (US), and Thales Group (France). These players have adopted various growth strategies such as contracts, acquisitions, expansions, new product launches, and partnerships & agreements to expand their presence in the airborne SATCOM market.
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Based on platform, the commercial aircraft segment is projected to lead the market from 2019 to 2025. The growth of this segment can be attributed to the demand for new aircraft, owing to the rise in air passenger traffic and the replacement of aging aircraft. Thus, expansion of the aviation industry has led to an increase in demand for new aircraft, which, in turn, is projected to drive the demand for airborne SATCOM systems.
Based on application, the commercial segment is expected to lead the market from 2019 to 2025. An increase in long-haul flights and passenger traffic is driving the commercial airborne SATCOM market.
Based on component, the transceiver segment is projected to lead the market from 2019 to 2025. SATCOM transceivers allow two-way communication using a single device.
The airborne SATCOM market in Asia Pacific is projected to grow at the highest CAGR from 2019 to 2025.
Based on region, the airborne SATCOM market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, due to due to the increasing passenger traffic. The growth in passenger traffic has resulted in increased demand for new aircraft in the region, which is anticipated to boost the airborne SATCOM market during the forecast period. The market in Asia Pacific is also expected to be driven by economic growth in countries such as India and China. Increasing disposable income of the middle-class population in these countries has contributed to the growth of international tourism and air passenger traffic. These factors are expected to impact the aviation industry, thereby fueling the Airborne Satellite Communication market in this region.
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