Satellite Spectrum Monitoring Market Expected to Expand at a Steady 2031
The satellite communication industry is dramatically growing to cater to the rising market demand for reliable connectivity. Moreover, technological developments in satellite components, miniaturization of parts, reducing launch costs, and increasing demand for stable connectivity in remote locations are the primary factors that are driving the market. The global space economy was worth more than $400 billion in 2020, out of which 70% was generated through services such as Earth observation, telecommunication, remote sensing, satellite television, GNSS equipment, and satellite systems. This burgeoning growth in the overall space industry has increased the demand for spectrum.
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The recent development of the high-throughput satellite market has further accelerated the demand for satellite communication. However, this increasing demand for satellite communication links has led to an increasing number of satellite signals and to an increasing amount of interference which would further lead to the degradation and deficient operational efficiency. Hence, adopting spectrum monitoring and interference detection system as part of the ground station has become crucial to enhance the performance of the satellite service and the revenue of satellite communication operators. Therefore, several SATCOM operators are showing major interest in technology that can enable the automatic and real-time detection of such anomalies as the first step toward interference mitigation and suppression.
The government space organizations, regulatory authorities, private players, and educational institutes are focused on developing more efficient technology to support the satellite spectrum monitoring market. Furthermore, anticipated high growth in the small satellite market with the predicted launch of satellite constellations of communication for the various end users such as defense, government, and commercial is another major factor contributing to the spectrum demand.
Government End User Segment Dominates Global Satellite Spectrum Monitoring Market
The global satellite spectrum monitoring market is expected to generate huge revenues from the government segment during the forecast period, 2021 -2031. The satellite spectrum monitoring market for the government end user segment reported revenue generation of $694.4 million in 2021 and is expected to grow at a CAGR of 7.62% during the forecast period 2021-2031 to reach $1,447.2 million by 2031.
North America to Dominate Global Satellite Spectrum Monitoring Market
North America is expected to dominate the global satellite spectrum monitoring market in terms of region. The factor attributing to the growth of this region is the high presence of the key companies highly engaged in developing and engaged in providing satellite spectrum monitoring solutions. Additionally, the continuous technology advancement by key players in the satellite industry is another factor contributing to the growth of the market. Apart from this, the region’s companies are in long-term relationships with other commercial companies and are engaged in programs that will propel the space sector in the region.
The competitive landscape of the global satellite spectrum monitoring 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 business expansions, among others.
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Some of the key players in the global satellite spectrum monitoring market include Avcom of Virginia Inc., Keysight Technologies Inc., Kratos Defense & Security Solutions, Inc., ST Engineering idirect, National Instruments Corporation, Calian, Advanced Technologies, Integrasys S.A., Narda Safety Test Solutions, Rohde & Schwarz GmbH& Co., and Antri among others. These companies aim for a wide range of product demonstrations and launches to expand their operations and increase their global market presence.