In 2023, the global Very Small Aperture Terminals (VSAT) Market was worth around $8.64 billion. It's expected to grow steadily, reaching $10.2 billion in 2024 and projected to hit $29.42 billion by 2032, with an average annual growth rate of 14.2% over this period. North America led the VSAT market in 2023, holding the largest share at 31.25%.
The growth is largely fueled by the proliferation of high-throughput satellite (HTS) systems, integration with 5G networks, and a rising demand in maritime and aviation communications, particularly for military and disaster response applications.
Informational Source:
https://www.fortunebusinessinsights.com/v-sat-market-110136
Key Companies Covered in Very Small Aperture Terminal (VSAT) Market are:
- Orbit Communications Systems Ltd. (Israel)
- L3Harris Technologies, Inc. (U.S.)
- Inmarsat Global Limited (U.K.)
- GILAT SATELLITE NETWORKS (Israel)
- Harris CapRock (U.S.)
- Hughes Network Systems (U.S.)
- KVH Industries (U.S.)
- ViaSat (U.S.)
- ST Engineering iDirect, Inc. (U.S.)
- Cambium Networks (U.S.)
Key Drivers of Growth
- Connectivity Needs in Remote and Isolated Areas: VSAT technology is crucial in extending connectivity to remote and underserved regions, facilitating not only internet access but also critical services for disaster recovery and emergency response. This demand is particularly evident in sectors like healthcare, oil and gas, and military operations where constant and reliable communication is essential.
- Advances in Frequency Bands and High Throughput Satellites (HTS): The VSAT market is experiencing a shift towards using more efficient frequency bands such as Ka-band, which offers higher data rates compared to the traditional Ku- and C-bands. Additionally, high throughput satellites are being increasingly deployed to handle greater data demands in sectors like maritime and aviation