Satellite Laser Communication System Market Assessed in New Report

The global satellite laser communication system market size is expected to grow from $356.8 million in 2021 to $5.2 billion by 2030, at a CAGR of 39.8% through the forecast period. There is free-space optical communication in outer space and laser communication in space. Communication may be fully in space or in a ground-to-satellite or satellite-to-ground application.

According to a new report from MarketStatsVille, factors such as the rising number of satellite launches for communication and earth observation and alternative solutions to the overburdened optical technology are driving the market. Moreover, difficulties in creating laser communication between satellite & ground stations is hampering the market growth. Furthermore, connectivity requirements in rural areas and developing countries and the growing demand for high-speed and secure communication networks have created growth opportunities in the market.

The study categorizes the satellite laser communication system market based on solution, application, and end-users at the regional and global levels.

Based on the regions, the global satellite laser communication system market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. In 2021, Europe had the largest market share in the global satellite laser communication system market, followed by North America and Asia Pacific. Moreover, Asia Pacific is the fastest-growing region in the market. The region includes countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of Asia–Pacific. The region’s growth is primarily due to strong economic growth in the domestic emerging countries such as China, Indonesia, Malaysia, and India.

The leading market players such as AAC Clyde Space (Hyperion Technologies), Analytical Space Operation, and Ball Corporation hold the majority of the market share. However, other players in the market are also coming up with new strategies and partnering, collaborating, and expanding their business, which is further anticipated to boost the market growth in the future.

(Source: MarketStatsVille news release. Image from file)