The global satellite communication market size grew from $54.6 billion in 2022 to $61 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%, according to a recent report from The Business Research Company. The market is expected to continue to grow to $91.02 billion in 2027 at a CAGR of more than 10%. Going forward, increasing investment in the space sector, robust government support, and growing demand for telecommunication will drive market growth.
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Satellite Communication Market Competitor…
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The global satellite communication market size grew from $54.6 billion in 2022 to $61 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%, according to a recent report from The Business Research Company. The market is expected to continue to grow to $91.02 billion in 2027 at a CAGR of more than 10%. Going forward, increasing investment in the space sector, robust government support, and growing demand for telecommunication will drive market growth.