According to the new research report published by The Insight Partners, titled “Airborne SATCOM Market is expected to grow from US$ 6,492.75 million in 2022 to US$ 10,390.96 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2022 to 2028.
Factors such as increased interest in air travel among the middle-class populations, especially in emerging countries; and a rise in the working-age population worldwide boost total air passenger traffic in the world. The newest International Civil Aviation Organization (ICAO) analysis of global air traffic shows obvious indicators of a strong global recovery in air traffic, owing to increased carrier confidence and a variety of regional air connectivity and air travel facilitation enhancements across the globe. From January 2022 to April 2022, the number of air passengers increased by 65% compared to the same period in 2021, while aircraft flight departures increased by 30%. Airline seat capacity increased by 32% during this period. Thud, with these conditions triggering the air travel demand, the International Civil Aviation Organization (ICAO) predicts a stronger overall rate of recovery in 2022 than 2021. Thus, such an increase in air passenger traffic is driving the expansion of the airborne SATCOM market
With the increase in air traffic and aircraft demand, air carriers are increasing their aircraft delivery volumes. The demand for new aircrafts is not just from existing airlines reestablishing their fleet; but also, from new low-cost aircraft entering the market. For instance, Boeing expects to deliver more than 49,000 airplanes by 2040. Airbus is expecting to attain more than 39,000 airplane deliveries from 2020 to 2040. In March 2022, Boeing delivered 41 jets, 3 767s, 1 777F, and 37 737s (35 MAX/2 NG). Further, in January 2022, the company received an order from Qatar Airways for 737 Max planes and new 777X freighters, and the order was worth US$ 34 billion.
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The airborne SATCOM market size is segmented on the basis of platform, component, application, and geography. Based on platform, the market share is segmented into commercial aircraft, military aircraft, helicopters, and UAVs. Based on component, the airborne SATCOM market is segmented into SATCOM terminals, transceivers, airborne radio, modems and routers, SATCOM radomes, and others. The airborne SATCOM market, by application, is segmented into defense and commercial. On the basis of geography, the market size is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
The COVID-19 pandemic resulted in disruptions in supply chains and a decline in aircraft manufacturing across various European countries due to lockdowns imposed by the European Union (EU) countries to curb the disease spread. The European military sector was hit hard by the high number of COVID-19 cases in 2020 and 2021. The pandemic also triggered a drop in the demand for defense aircraft, helicopters, and UAVs, resulting in reduced production. However, in contrast to the abovementioned factors, the European aircraft market players managed to acquire contracts related to various military and commercial aircraft worldwide, which enabled them to generate revenues. Nonetheless, the revenue generated in 2021 was comparatively less than in 2020. This negatively impacted the performances of the airborne SATCOM market players.
Companies Profiled in this report includes
• ASELSAN A.?.
• Thales Group
• Collins Aerospace
• Cobham Limited
• Honeywell International Inc.
• General Dynamics Mission Systems, Inc.
• L3Harris Technologies, Inc.
• Viasat, Inc.
• Orbit Communications Systems Ltd.
• Astronics Corporation
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