Very Small Aperture Terminal Market PESTL Analysis, Consumer Behavior Overview & Profit Margin Study

The report on the VSAT Market provides a detailed trend analysis from 2018 to 2025. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.

The global VSAT market size is projected to grow from USD 9.5 billion in 2020 to USD 13.7 billion by 2025, at a CAGR of 7.5% from 2020 to 2025. The market is driven by various factors, such as the growing demand for VSAT systems from the maritime industry and increasing demand for VSAT on-the-move solutions for various platforms, and commercial services are the major drivers of VSAT market.

Based on platform, maritime VSAT is expected to have the second-largest market share during the forecasted period. The growing demand for commerce onboard and higher data rates in commercial ships has driven the maritime VSAT market. Commercial ship operations include operational safety data such as emergency information, data related to video monitoring using IP-based CCTV systems, and telemetry data. Hughes Network System, Cobham, KVH Industries, Intelsat, and Orbit Communication System are major providers of VSAT systems for commercial ships.

Based on end use, the broadband/data network is estimated to be the largest and fastest-growing segment in the VSAT market. The growth of this segment can be attributed to increased demand for efficient broadband connectivity. In 2019, Telecom operator, Bharti Airtel, and Hughes Communications India Ltd (HCIL) announced to combine VSAT satellite operations with broadband service connectivity.

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The naval and government vessels are used as coastguards and coastal surveillance ships. Thus, connectivity plays an important role in such applications. In March 2020, Orbit Communications Systems was awarded a contract for the delivery of maritime satellite communication (SATCOM) terminals. An undisclosed Asian navy awarded this contract. Hughes Network System (US), Cobham (UK), KVH Industries (US), and Orbit Communication System (Israel) are major providers of VSAT systems for military ships.

Based on frequency, the Ku-band segment of the VSAT market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed due to the increased use of Ku-band VSAT systems in smaller ships for high bandwidth communication. This frequency uses a spot beam configuration to deliver more bandwidth throughout the coverage area. Ka-bands transmit data at a faster rate as compared to Ku-bands.

Based on the region, the North America region of the VSAT market is projected to grow at the highest market share during the forecast period. The growth of this region can be attributed due to the demand for bandwidth and connectivity for government and defense applications. This demand for bandwidth has increased, owing to the growth in the demand for UAS across platforms that are to be used beyond the line of sight (BLOS) operations. This has led to the use of systems operating with higher frequencies, such as Ku-band and Ka-band. Market players are partnering with satellite telecommunication companies to deploy Ku-band satellites with more efficient spot beams to address the increasing demand for bandwidth.

Key manufacturers of VSAT systems are based in North America. These players include Viasat, Inc. (US), L3 Harris Technologies (US), and Honeywell International Inc. (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific.

L3Harris Technologies Inc (US) ranks second in the VSAT market. It is a key player in the US market, generating approximately 81% of its revenue from the country. The communication systems segment of the company offers integrated system solutions for the US and international defense and public safety networks. The company provides advanced VSAT systems that connect forces with communications satellites to deliver their data and mission-critical insights not just over the horizon, but anywhere on Earth. In January 2020, L3Harris Technologies has received a contract worth USD 100 million from the US Special Operations Command (USSOCOM) to upgrade very small aperture terminals (VSATs).

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