The global satellite laser communication system market size is expected to grow from $356.8 million in 2021 to $5205.7 million by 2030, at a CAGR of 39.8% from 2022 to 2030 — comms may be fully in space or in a ground-to-satellite or satellite-to-ground application, this information according to an analysis by Market Statsville Group (MSG).
Factors such as the rising number of satellite launches for communication and Earth Observation (EO) and alternative solutions to the overburdened optical technology are driving the market. Moreover, difficulties in creating laser communication between satellites and ground stations is hampering market growth. However, 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.
APAC accounts for the highest CAGR during the forecast period
Based on the regions, the global smart waste management market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East and 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 global satellite laser communication systems market. The region includes 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.
AAC Clyde Space (Hyperion Technologies), Analytical Space Operation and Ball Corporation currently hold the majority of the market share. However, other players in the market are also coming up with new strategies and partnerships, collaborations and are expanding their businesses, which is further anticipated to boost market growth in the future.
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