Optical Satellite Communication Market Size Share Industry Growth [2028]
Chicago, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The Optical Satellite Communication Market Size is projected to grow from USD 282 Million in 2023 to USD 1134 Million by 2028, growing at a CAGR of 32.1 % from 2023 to 2028. The Optical Satellite Communication Industry can be linked to the rising deployment of low earth orbit (LEO) satellites and satellite constellations designed for communication purposes.
Optical Satellite Communication Industry Companies: Top Key Market Players The Optical Satellite Communication Market Size is dominated by a few globally established players such as Ball Corporation (US), Mynaric AG (Switzerland), Bridge Comm Systems (US), SpaceMicro (US), Tesat Spacecom GMBH (Germany). among others, are the key manufacturers that secured Optical satellite communication contracts in the last few years. The primary focus was given to the contracts and new product development due to the changing requirements of commercial, homeland security, and defense & space users across the world.
Optical satellite communication Market Size Dynamics
Driver: Space Exploration and Scientific Research
Optical satellite communication has the potential to revolutionize space exploration and scientific research by facilitating high-bandwidth data transmission between space probes, rovers, and Earth-based research centers. This technology can enhance the efficiency and speed of data transfer in space missions.
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Combat Drone Market Dynamics
Driver: Growing adoption of combat drones due to their high precision and accuracy capabilities.
Combat drones possess cutting-edge technology that enables superior precision and accuracy in pinpointing and engaging enemy positions and objectives. Equipped with advanced targeting systems and guided munitions, these drones execute precise strikes with utmost efficiency, thereby minimizing collateral damage and optimizing mission success rates.
Restraints: Government regulations and policies restrict the deployment of optical satellite communication systems in certain regions
Government regulations and policies vary from country to country but commonly include spectrum allocation, power limits, encryption requirements, and export controls. Governments allocate specific portions of the electromagnetic spectrum for OSC systems to avoid interference with other radio transmissions. Power limits are set to mitigate potential interference issues caused by high-power transmission in OSC systems. To protect sensitive data transmission, governments often mandate encryption for OSC systems. Additionally, due to potential military applications, export controls are imposed to regulate the international trade of OSC technology.
Opportunities: Towering adoption of cloud-based services by different industries
Various industries are now using cloud-based services to provide improved services to their customers. Moreover, cloud-based services using advanced SATCOM equipment are being used extensively by first responders, emergency services agencies, law enforcement agencies, and military forces, among others.
Challenges: Atmosphere Interference.
Earth's atmosphere poses another significant challenge for optical communications. Clouds and mist can disrupt the laser signals, affecting the reliability of the communication link. To overcome this hurdle, the deployment of multiple ground stations equipped with telescopes capable of receiving infrared waves is being explored.
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Optical Satellite Communication Companies - Ball Corporation (US) and Mynaric AG (Switzerland) are the Key Players
Ball Corporation (US)
Ball Corporation, a global leader established in 1880, excels in metal packaging and aerospace technologies. Operating in the beverage packaging and aerospace sectors, Ball offers innovative, sustainable aluminum containers for beverages and cutting-edge satellite systems. Committed to sustainability, the company focuses on reducing its carbon footprint and fostering circular economies with a widespread global presence, and Ball serves beverage brands, governments, and technology firms.
Mynaric AG (Switzerland)
Mynaric AG is a company that develops and manufactures laser communication terminals for space applications. Their products offer high-bandwidth, secure, and reliable communications between satellites, aircraft, and ground stations. Laser communication technology is a newer technology that offers several advantages over traditional radio frequency communications, such as higher bandwidth, enhanced security, and longer operational ranges. Mynaric's products have been well-received by major companies like Northrop Grumman, Capella Space, and Telesat. As the demand for high-bandwidth satellite communications grows rapidly, Mynaric is well-positioned to meet these needs with its laser communication technology.
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[301 Pages Report] The Airborne SATCOM Market size is projected to grow from USD 5.4 billion in 2022 to USD 7.3 billion by 2027, at a CAGR of 6.5% from 2022 to 2027. The market is driven by factors such as increased use of ultra-compact SATCOM terminals for UAVs and need to enhance passenger experience.
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