Satellite Flat Panel Antenna Market 2021 End User Analysis To 2031
The flat panel antenna technology is gaining huge traction from governments and commercial consumers due to the increase in demand to maintain persistent on-the-move communications regardless of the location. Though the current telecommunications technology has developed several tools and systems to be at the forefront of this reality, they often get backlash due to undesirable solutions for some mobile applications. But with the help of a flat panel antenna, the companies have focused on developing alternatives to provide sufficient and stable signals to ensure data services for mobile applications as well as hard-to-reach areas. The satellite internet allows connectivity without the need for any ground infrastructure to access the internet service. The global space economy has been rapidly growing owing to the increasing requirement of satellite-based connectivity services across different applications such as communication, navigation, and Earth observation.
Read Report Overview: Satellite Flat Panel Antenna Market
The key players in the industry have been developing various solutions that can cater to the demands of future needs. But with the recent development of satellite mega constellations by companies such as OneWeb, SpaceX, and Project Kuiper by Amazon, the flat panel antenna market is expected to have significant growth over the years. Due to the satellite constellations, the internet service providers can provide networks throughout the globe at speeds of several hundred megabits over large distances such as entire continents and oceans. It is now possible to connect numerous remote locations through a secure link.
Electronically Steered Antenna to Witness Fastest Growth in Global Satellite Flat Panel Antenna Market During Forecast Period
The preceding figure illustrates the value of the global satellite flat panel antenna market contributed by type. The electronically steered antenna segment is expected to witness the fastest growth during the forecast period 2021–2031. The electronically steered antenna segment is expected to generate $1,376.7 million in revenue in 2021 and is expected to grow at a CAGR of 19.78% during the forecast period 2021–2031 to reach $ 8,368.2 million by 2031.
North America to Dominate Global Satellite Flat Panel Antenna Market
North America is expected to account for the highest share of 44% in the market in 2031, owing to a significant number of companies based in the region and the developments carried out by these companies. The European region is estimated to have a share of 36% by 2031 and is expected to witness the highest growth rate during the forecast period, with a CAGR of 18.43%.
The competitive landscape of the global satellite flat panel antenna market consists of several organic and inorganic strategies followed by the key players to increase the market share. The strategies include product innovations, product developments acquisitions, contracts, and investments.
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Some of the key players in the global satellite flat panel antenna market include ThinKom, Kymeta, Hanwha Phasor, Carlisle, Inmarsat, Intelsat, Ball Corporation, NXTCOMM, L3 Harris Technologies, Isotropic Systems, OneWeb, SpaceX, C-Com, ST Engineering iDirect, Inc. These companies are aiming for a wide range of product demonstrations and launches to expand their operations and increase their market presence globally.