Satellite antenna market size worth $ 27.8 billion, globally, by 2030 at 24.1% CAGR

Verified Market Research recently published a report, “Satellite Antenna Market” By Frequency Band (C Band, K/KU/KA Band, and X Band), By Antenna Type (Flat Panel Antenna, Parabolic Reflector Antenna, and Horn Antenna), By Application (Space, Land, Maritime, and Airborne), and By Geography. According to Verified Market Research, the Satellite Antenna Market size was valued at USD 3.9 Billion in 2022 and is projected to reach USD 27.8 Billion by 2030, growing at a CAGR of 24.1% from 2023 to 2030.

One of the key factors driving the growth of the Satellite Antenna Market is the expansion of the space sector. The market is expanding as a result of an increase in space exploration missions, cost-effective satellite launch operations, increased demand for satellite-assisted combat, and enhanced small satellite deployment. Additionally, the telecommunications industry’s development and demand for satellite antennas have been accelerating due to the growing demand for wireless and mobile communication.

The purpose of a satellite antenna is to receive or transmit data via radio waves to or from a communication device. During transmission, antennas transform electrical energy into EM energy, and during the reception, the reverse is true. Satellite antennas have become an essential part of the telecommunications and space industries because of wireless communication. The use of satellite components and antennas for numerous applications, including climate, weather forecasting, and deforestation, as well as increasing digitalization initiatives, are also contributing to the growth of the Satellite Antenna Market. Globe Newswire