by Ground station equipment are used for controlling and communication with satellites placed in Earth’s orbit or beyond. They provide data transmission, telemetry tracking and control of satellites. With increasing demand for satellite communication services in industries such as media & entertainment, aeronautics, defense, and oil & gas, the need for ground station equipment has risen significantly.
The global Ground Station Equipment Market is estimated to be valued at US$ 9,242.84 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for satellite communication services is a major key trend driving growth of the ground station equipment market. As satellite communication is playing a bigger role in day to day applications like entertainment, weather monitoring, navigation, broadband internet access etc., demand for production and launch of more satellites is increasing exponentially. This rising need for satellites will augment the requirement for ground station equipment to control and communicate with satellites across various industries. Moreover, lower production and launch cost of small satellites called CubeSats and adoption of software defined radios have further increased interests of commercial companies and defense organizations to adopt space technology through small satellites, thus propelling demand for ground station equipment.
SWOT Analysis
Strength: Space ground station equipment provide robust and reliable connectivity solutions for space missions and operations. They aid in efficient satellite communication management and control.
Weakness: High initial investment requirements for establishing ground station infrastructure deters new space sector entrants. Dependence on terrestrial infrastructure also poses risks.
Opportunity: Rapid commercialization of space driving procurement of affordable ground equipment by private space companies. New space constellations scaling up operations augurs scope for ground station suppliers.
Threats: Competition from regional/local equipment manufacturers. Dependence on space weather conditions and evolving communication technologies pose operational challenges.
Key Takeaways
The Global Space Ground Station Equipment Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Ground Station Equipment Market is estimated to be valued at US$ 9,242.84 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023-2030.
North America currently dominates the market owing to heightened space activities by private players and space agencies like NASA in the region. Continued investments to strengthen space infrastructure especially in developing economies of Asia Pacific is fueling demand for ground station equipment. Proliferation of small satellite networks to facilitate broad range of applications augurs well for proliferation of distributed ground station infrastructure worldwide. With commercial utilization of space gathering pace, the market holds promising prospects over the forecast period supported by constant innovation in satellite communication technologies.
Key players operating in the space ground station equipment market are H&M, Zalando, Amazon Fashion, Primark, Topshop, River Island, Missguided, PrettyLittleThing, ASOS, Boohoo, Next, Very, Marks & Spencer, John Lewis, New Look, JD Sports, Farfetch, Gymshark, Reiss, AllSaints. The US is a major contributor to regional market growth attributed to continuous technology upgrades and investment in new satellite networks by leading space players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
