Lengthy contracts and ongoing political tensions worldwide will ensure continued US government and military spend, finds Frost & Sullivan's Digital Transformation team
SANTA CLARA, California, Aug. 1, 2017 /PRNewswire/ -- The global satellite transponder market is experiencing modest but steady growth. An increase in adoption in remote areas, need for back-up and emergency technology, new high bandwidth, and growth areas like in-flight communications, maritime communication, as well as certain military applications are factors propelling growth. To succeed in a mature and competitive ecosystem, players must harness opportunities in high-growth regions and solve complex integration challenges.
Frost & Sullivan recent analysis, Global Satellite Transponder Market, Forecast to 2023, reveals the market is projected to grow at a compound annual growth rate (CAGR) of 2.9 percent from 2016 to 2023. Even with a low growth rate, the market will account for $2.71 billion more in 2023 than in 2016, therefore causing market competition to remain strong.
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"The majority of growth in the satellite transponder market is expected to come from new high-bandwidth, Ka-Band and Ku-Band transponder/bandwidth leasing," says Frost & Sullivan Satellite Communications Industry Analyst Peter Finalle. "Ka-Band satellite technology offers premium performance and a higher quality of service than terrestrial networks. These capabilities are driving deployment and adoption rates in regions with robust landline and cellular networks."
From a regional perspective:
"The modernization of the US Air Force and Navy will require satellite transponder leasing for a more technologically equipped military," noted Finalle. "Lengthy contracts and ongoing political tensions worldwide will ensure continued spending."
Global Satellite Transponder Market, Forecast to 2023, is a part of Frost & Sullivan's Digital Media Growth Partnership Service program.
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Global Satellite Transponder Market, Forecast to 2023
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