The satellite antenna market is estimated to be valued at USD 2.05 billion in 2017 and is projected to reach USD 2.99 billion by 2022, at a CAGR of 7.85 percent, states MarketsandMarkets. Factors such as increased demand for hosted payloads, satellite miniaturization, and reducing costs of satellites are expected to fuel the growth of the satellite antenna market.
The space industry has witnessed remarkable growth in the past two decades. Access to latest technology from satellites by private players has fueled the growth of satellite industry. Furthermore, shorter development cycle and lesser cost of development have triggered the growth of the satellite antenna market. The market is expected to witness significant growth, owing to factors such as the increased deployment of small satellites boosting the growth of satellite antennas, development of phased array antenna, and rise in number of space exploration missions.
Based on component, the reflector segment of the satellite antenna market is projected to hold the largest market share over the next five years. Based on platform, the land segment of the satellite antenna market is projected to grow at the highest CAGR owing to extensive investments happening in R&D activities for the application areas, such as telecommunications, navigation, and Earth observation across the globe.
Based on frequency band, the C-band segment is estimated to hold the largest share of the satellite antenna market in 2017. The C band is primarily used for data and voice transmissions as well as backhauling.
Based on antenna type, the flat panel antenna (FPA) segment is projected to grow at the highest CAGR over the next five years.
The Asia-Pacific satellite antenna market is expected to witness the highest CAGR, owing to the increased use of satellite antennas in automobiles in the region. Companies operational in the satellite antenna market are focusing on technological advancements through integrating and experimenting with different antennas for various sectors including telecommunication and automotive, Earth observation, and scientific research, among others. These companies are also engaged in research activities to develop miniature payloads that can perform efficiently in complex environments.